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The symbolic merger of Fetch.ai, SingularityNET and Ocean Protocol will begin on July 1st
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The Artificial Superintelligence Alliance, which includes SingularityNET, Fetch.ai and Ocean Protocol, did announced updates on the ASI token merger, scheduled for July 1st. This comes after the merger was postponed to July 15, as reported from Cryptocurrency Briefing.
This strategic move will initially merge SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens into Fetch.ai’s FET, before moving to the ASI ticker at a later stage. The merger aims to streamline operations and improve efficiency for token holders.
In particular, token migration will be facilitated through the SingularityDAO dApp, with specific conversion rates set for the transition to FET and subsequently to ASI tokens. Key steps include temporarily consolidating AGIX and OCEAN tokens into the FET token and maintaining active trading under the FET ticker.
Phase II of the merger will see the implementation of the ASI token across multiple blockchain networks, supported by upgrades to the FET network and the introduction of new migration contracts. This phase will guarantee the continued interoperability and efficiency of the token in the different ecosystems.
The conversion rates are: 1 FET to 1 ASI; 1 AGIX at 0.433350 ASI; and 1 OCEAN at 0.433226 ASI. Additionally, the rebranding to Artificial Superintelligence Alliance will be reflected on various data aggregators, such as CoinMarketCap and CoinGecko.
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