SingularityNET Unveils Merger Schedule for FET, AGIX, and OCEAN into ASI Token
SingularityNET has officially disclosed the timetable for merging the Artificial Superintelligence Alliance (ASI) token with its native AGIX token in a recent publication. This announcement represents a significant milestone in bringing together the fetch.ai (FET), AGIX, and Ocean Protocol (OCEAN) communities.
The process of consolidating these tokens into a single decentralized artificial intelligence (AI) network will commence on June 11th, starting with the rebranding of the FET token to ASI, and is expected to be finalized by June 13th.
How Will the ASI Merger Take Place?
The merger will necessitate token holders to convert FET, AGIX, and OCEAN tokens into ASI tokens at specific conversion rates.
FET tokens will convert to ASI at a 1:1 ratio, AGIX at 1:0.433350, and OCEAN at 1:0.433226. The ERC20 token swap for FET to ASI will commence on June 11th, followed by AGIX and OCEAN on June 13th.
The migration process will take place on SingularityNET’s decentralized AI platform, where users can securely exchange their tokens using an audited token migration contract provided by SingularityNET.
The ASI merger aims to establish the largest open-source decentralized network in the AI industry, accommodating over 200,000 tokenholders.
SingularityNET also added that they will release comprehensive instructions on how to migrate ERC-20 tokens in the coming days. Furthermore, they will provide specific information for AGIX token holders on the Cardano blockchain regarding token migration.
SingularityNET’s Vision
This merger seeks to establish a decentralized AI platform that promotes collaboration among the three companies. This move signifies the creation of the largest open-source decentralized network focused on the AI industry, as stated in the report.
Under this arrangement, SingularityNET, Fetch.ai, and Ocean Protocol will continue to operate individually but will collaborate under the guidance of a newly formed entity called the Superintelligence Collective.
Ben Goertzel, the founder and CEO of SingularityNET, will lead the collective, while Humayun Sheikh, CEO of Fetch.ai and an early investor in DeepMind, will serve as chairman.
These discussions come at a time when major technology giants like Alphabet and Microsoft are making significant investments in AI, recognizing its potential to revolutionize human interaction with technology.
In response, emerging AI-focused platforms such as SingularityNET, Fetch.ai, and Ocean Protocol are racing to develop decentralized AI technology on the blockchain.
This collective effort aims to create an ecosystem that is not controlled by large corporations but is solely accountable to shareholders.
As a result, numerous promising AI-based cryptocurrencies have emerged, contributing to a market capitalization of over $38.7 billion, according to CoinMarketCap data. This presents a massive opportunity for SingularityNET’s ASI token.
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