Fetch.ai (Fet), Singularitynet (Agix), And Ocean Protocol (Ocean) Tokens Are Merging.

Fetch.AI, SingularityNET, and Ocean Protocol Have Decided to Merge.

Fetch.AI, SingularityNET, and Ocean Protocol Projects Announce Merger

On March 27, 2024, Fetch.AI, SingularityNET, and Ocean Protocol announced that they will merge under a single token. The new entity formed from this merger will be called the Artificial Superintelligence Alliance (ASI). This merger, which has garnered significant interest in the field of artificial intelligence, is considered one of the major developments in the sector. Many are keen to understand how this process will unfold and the technical details behind the transformation.

How Will the Tokens Merge?

The existing tokens of Fetch.AI, SingularityNET, and Ocean Protocol—FET, OCEAN, and AGIX—will merge in two phases and, once completed, will function as a single token. The first phase will commence on July 1, 2024, on cryptocurrency trading platforms that support the transition, such as Paribu.

In this phase, OCEAN and AGIX tokens will be converted to FET based on ratios determined by the Artificial Superintelligence Alliance (ASI). The conversion rates will be 1 AGIX = 0.433350 FET and 1 OCEAN = 0.433226 FET. OCEAN and AGIX tokens will be delisted from trading platforms, and once the conversion is complete, the FET token will be renamed Artificial Superintelligence Alliance (ASI). Additionally, the FET logo will change, but the ticker will remain FET until the second phase of the transition. Trading of FET will not be affected during this phase. After the transformation, Fetch.AI’s current CEO, Humayun Sheikh, will continue as the new chairman of the Artificial Superintelligence Alliance's board.

What Will Happen in the Second Phase?

The second phase of the transition is expected to begin on July 15, 2024. During this phase, the new token will continue to be named Artificial Superintelligence Alliance with the ticker FET. However, the ticker will be updated to ASI after this phase.

Why Is This Merger Important?

The merger of Fetch.AI, SingularityNET, and Ocean Protocol under the Artificial Superintelligence Alliance (ASI) is expected to enhance the ecosystem by strengthening it, increasing its resilience, and improving the project's competitiveness. As the liquidity of the three projects will combine, the new project is anticipated to benefit from increased liquidity. Additionally, the ASI token is expected to feature new attributes and use cases.

If You Have Staked FET

If you have staked FET on the mainnet and have staked FET tokens, there will be no action required on your part. Your FET tokens will automatically be converted to ASI, and your staking rewards will not be affected. Similarly, users with FET tokens on supported trading platforms will not need to perform any actions. However, it is important to be cautious of malicious actors, as no sensitive information will be requested from users during any phase of the process.

About the Projects

• Ocean Protocol (OCEAN): Founded in 2017, this project aims to facilitate decentralized data flow by using artificial intelligence and big data to bridge publishers and consumers.
• Fetch.AI (FET): Established in 2017, Fetch.AI is a platform designed to connect Internet of Things (IoT) algorithms.
• SingularityNET (AGIX): This blockchain-based platform connects artificial intelligence developers with those seeking services in this field.

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