The highly anticipated merger now set for July 15, 2024, aims to create a robust decentralized AI ecosystem, addressing technical and logistical challenges.
Three prominent blockchain-based AI projects, Fetch.ai, SingularityNET, and Ocean Protocol, have announced a rescheduled date for their highly anticipated token merger. Initially planned for June 13, the merger has now been postponed to July 15, 2024. This delay is intended to ensure a seamless integration process, addressing technical and logistical challenges to create a robust decentralized AI ecosystem.
The merger, which will combine the tokens of Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) into a single Artificial Superintelligence (ASI) token, was postponed to allow more time for thorough technical and logistical preparations. The teams are working closely with exchanges, validators, and ecosystem collaborators to finalize the steps needed for a smooth transition. This extra time aims to ensure that the merger proceeds without any hitches, providing a seamless experience for all stakeholders involved.
The ASI Alliance is a strategic collaboration between Fetch.ai, SingularityNET, and Ocean Protocol. The goal is to create the largest open-sourced, decentralized AI network by combining their technologies, research, and products. The new $ASI token will serve as the backbone of this decentralized AI ecosystem, leveraging blockchain technology to promote ethical and accessible AI development. This merger aims to challenge the dominance of Big Tech in the AI space, offering a decentralized alternative that is open to all.
Upon the merger, the existing tokens—$FET, $AGIX, and $OCEAN—will be swapped for $ASI tokens at pre-announced ratios. The total supply of $ASI tokens will be 2.63055 billion, with a fully diluted market cap of $6 billion as of May 28, 2024. This token swap is designed to be straightforward, and token holders are assured that no immediate action is required on their part. The tokens will continue to trade independently until the merger is completed.
For token holders of Fetch.ai, SingularityNET, and Ocean Protocol, the key takeaway is that no immediate action is required. The teams are working diligently to ensure a smooth transition, and further updates will be provided as the merger date approaches. This merger represents a significant step towards creating a decentralized AI ecosystem, offering a scalable and ethical AI infrastructure that leverages the strengths of all three projects.
