The Artificial Superintelligence Alliance (ASI) is set to finalize its merger on June 13, 2024, introducing the $ASI token.
The Artificial Superintelligence Alliance (ASI) has announced that the two companies will finalize their merger on June 13, 2024.
When this event takes place, it signifies the official listing of the $ASI token, which brings together the capabilities of SingularityNET, FetchAI, and Ocean Protocol simultaneously.
We expect the merger to create an effective and powerful artificial intelligence network that can compete with the existing significant corporations operating in the AI sector.
ASI Token To Hit Markets Soon Following Merger
The current $FET tokens will become $ASI token with effect from June 11, 2024. This change will take place prior to the merger’s actualization.
We are implementing this modification as one of the measures to streamline the integration of the communities and technologies from the three merging entities.
We have specifically created a token migration contract to facilitate the conversion of $AGIX and $OCEAN tokens into $ASI.
More than 200,000 members of the community will participate in this swap, which is a secure and audited process that will make it easier for the token to move throughout the full decentralized artificial intelligence system.
Ben Goertzel, the chief executive officer of ASI Alliance, emphasized the significance of this merger. In addition to this, he emphasized the advantages of the merger in terms of establishing a culture that encourages the creation of decentralized artificial general intelligence and superintelligence tools.
In addition to being a technological deed, the act of bringing these pioneers together under the canopy of the ASI token is also an economic strategy.
Given that the $ASI token has a fully diluted market capitalization of $6 billion as of May 28, 2024, it possesses the ability to exert a significant amount of influence on the cryptocurrency market. We have designed the fixed exchange rates for token swaps to maintain equity and fairness in the distribution of the new token.
These values are 1:1 for $FET to $ASI, and about 0.433 for $AGIX and $OCEAN to $ASI. This provides clarity and confidence for those who are currently holding the token.
For example, the integration of Fetch, autonomous AI agents, data sharing and monetization of the Ocean Protocol data framework, and AI integration research and development of SingularityNET are all expected to bring forth new synergies and innovations as a result of the merger.
Adjustments to Existing Incentive Programs
It is anticipated that this kind of integration will help to accelerate the commercialization of artificial intelligence technology and spread its application across a variety of industries. Another change that will occur after the merger is the adjustment of the incentives for data farming in the Ocean Protocol.
A governance vote on the 28th of March resulted in the program’s suspension and the reorganization of additional plans to align with the new ASI governance arrangements.
In spite of these modifications, those who already possess veOCEAN will continue to be eligible for awards. This will prevent any disadvantage for long-term stakeholders.
Maintaining this continuity is crucial to ensure the community’s support and stability as the platforms transition to a unified operational model.