The cryptocurrency space is gearing up for a significant development in the realm of Artificial Intelligence (AI) with the upcoming merger of tokens from Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX). This alliance, forming under the banner of Artificial Superintelligence (ASI), will see its token consolidation begin on July 1st.

Fetch.ai outlined the two-phase merger process in an official announcement. Phase 1 focuses on merging AGIX and OCEAN tokens into FET. This will pave the way for a smooth transition to the new ASI token across major exchanges and data platforms like Binance, CoinMarketCap, and CoinGecko. During this initial phase, users can expect AGIX and OCEAN to be delisted from exchanges, with their names and symbols rebranded. Deposits for both tokens will also be halted, with only FET deposits continuing as usual. This phase primarily involves onboarding exchanges and data aggregators for the rebranding process.

The conversion rates for the merger have been set at 1 FET = 1 ASI, 1 OCEAN = 0.433226 ASI, and 1 AGIX = 0.433350 ASI.

Phase 2, expected in mid-July, will target community onboarding and deploying the new ASI token across various blockchains. While tokens on the mainnet will automatically convert to ASI, separate migration contracts will be available for users who have staked or locked their tokens on other platforms. These contracts will remain operational for an extended period, ensuring ample time for everyone to convert their holdings to ASI.

The ASI alliance has generated excitement within the crypto community, with many anticipating a potential surge in AI-related tokens, including the upcoming ASI. This merger signifies a significant milestone for both the cryptocurrency and AI landscapes, fostering collaboration and potentially accelerating advancements in both fields.

By Joadin Maina

Beyond the hype, I untangle the web3 revolution, guiding curious minds through the labyrinth of decentralized possibilities.