The much-anticipated token merger between SingularityNET, Fetch.ai, and Ocean Protocol, forming the Artificial Superintelligence Alliance (ASI), has a confirmed start date. Originally scheduled for mid-June, the official announcement from the ASI on June 20th lays out a two-phase process beginning on July 1st.
This strategic move aims to streamline operations and enhance efficiency for holders of the respective tokens – AGIX (SingularityNET), OCEAN (Ocean Protocol), and FET (Fetch.ai). The initial phase will see AGIX and OCEAN tokens consolidated into FET. Trading will continue under the FET ticker on all markets, but under the banner of the Artificial Superintelligence Alliance.
The token migration itself will be facilitated through the SingularityDAO dApp, with specific conversion rates established for both FET and the future ASI token. Notably, 1 FET will convert to 1 ASI, while 1 AGIX and 1 OCEAN will convert to roughly 0.43 ASI each.
Phase II of the merger focuses on deploying the ASI token across various blockchain networks. This will involve upgrades to the FET network and the introduction of new migration contracts. The goal is to ensure smooth interoperability and continued efficiency for the ASI token across different blockchain ecosystems.
This revised timeline, along with the detailed roadmap for the two-phase merger, offers more clarity for token holders. The rebranding to the Artificial Superintelligence Alliance will also be reflected on data platforms like CoinMarketCap and CoinGecko, solidifying the union under a single banner.
The ASI token merger represents a significant step towards a more unified and efficient decentralized AI landscape. By combining resources and streamlining operations, the alliance aims to accelerate the development and adoption of ethical and accessible AI solutions.
