SingularityNET, Fetch.ai, and Ocean Protocol merge goes live
Today, an exciting development emerges from the Artificial Superintelligence Alliance, comprised of notable entities such as SingularityNET, Fetch.ai, and Ocean Protocol, as they unveil their initiative to amalgamate multiple cryptocurrencies into a singular, consolidated currency known as ASI. This move will see the integration of distinct tokens like FET, AGI, and OCEAN into this newly formed digital asset.
This initiative, unveiled in March, signifies the alliance's ambition to cultivate an ethical, decentralized artificial intelligence environment, leveraging the collective knowledge and technological prowess of its member organizations. The alliance is poised to develop a formidable AI framework that could potentially rival the dominance of major technology firms in AI innovation.
The inaugural phase entails the convergence of AGIX and OCEAN tokens into FET, with continued FET transactions during the rebranding phase across various platforms. SingularityDAO’s decentralized application facilitates the swap of AGIX and OCEAN for FET tokens, with a focus on the seamless exchange and withdrawal from participating platforms during this transitional period.
This initial step also includes the delisting of AGIX and OCEAN tokens from trading platforms to streamline the migration operation, focusing on aligning exchanges and data aggregators with the migration strategy.
Subsequent to the first phase, a mid-July target has been set for the second phase, which will concentrate on engaging the community and rolling out the ASI token.
The Fetch.ai framework is scheduled for enhancement to accommodate the ASI network's requirements, culminating in the launch and widespread distribution of the ASI token across various blockchain infrastructures. Token holders managing their assets will have the option to transition to ASi.
Additionally, new smart contracts are slated for introduction to assist in the conversion of FET, AGIX, and OCEAN to ASI tokens, with the implementation of Ethereum Virtual Machine (EVM) compatibilities and bridge functionalities for ASI token facilitation.
The ASI alliance has committed to maintaining the migration contracts active for an extended period, promising detailed guidance to ensure a smooth cutover. With phase two's groundwork already underway, the alliance looks forward to this pivotal transition.
Notably, in this second phase, cryptocurrency exchanges will adjust their focus from FET to ASI tokens. Key exchanges including Bitfinex, Cooperative, Bitget, Binance, and KuCoin are set to suspend the trading of implicated tokens around the start of July, with Crypto.com having already taken such measures in late June. Contrarily, Coinbase has decided against partaking in the ASI token transition, advising users inclined towards the merger to proceed manually while committing to the continued support of OCEAN and FET trading.
Humayun Sheikh, the chairman of the Artificial Superintelligence Alliance and the CEO of Fetch.ai, emphasizes that this consolidation represents a step forward in fostering cooperation and transparency within the AI sector.
Ben Goertzel, CEO of the Artificial Superintelligence Alliance and SingularityNET, expressed enthusiasm for reaching this significant junctre, envisioning an alliance poised to lead in the development of AGI and ASI within a decentralized framework.
Bruce Pon, a founding member of Ocean Protocol and a Council Board Director of the Artificial Superintelligence Alliance, views the token merger as a cornerstone for future innovations focused on user empowerment.
Ben Goertzel Binance Bitfinex Bitget KuCoin
