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DeFi-Planet

06/04/2024

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SingularityNET Sets Dates for ASI Token Merger of FET, AGIX, and OCEAN

SingularityNET (AGIX) has announced the dates for the Artificial Superintelligence Alliance (ASI) token merger, which will unite the communities of fetch.ai (FET), AGIX, and Ocean Protocol (OCEAN).

SingularityNET Sets Dates for ASI Token Merger of FET, AGIX, and OCEAN

SingularityNET (AGIX) has announced the dates for the Artificial Superintelligence Alliance (ASI) token merger, which will unite the communities of fetch.ai (FET), AGIX, and Ocean Protocol (OCEAN).

The merger will commence on June 11 and conclude on June 13, and the FET token will be renamed ASI.

According to the project, the new ASI token

will function across the combined decentralized AI network, providing unprecedented scale and power.”

The migration will occur on SingularityNET’s decentralized AI platform, allowing users to securely swap their tokens using an audited token migration contract. The goal is to create the largest open-source decentralized AI network, serving over 200,000 tokenholders.

RELATED: SingularityNET and the AGIX Token: Charting the Evolution of Decentralized AI Marketplaces

The conversion process for ERC-20 tokens will begin on June 11, enabling users to swap FET for ASI via a token migration contract. AGIX and OCEAN token conversions will follow on June 13.

ERC-20 tokens will be available for users to swap FET for ASI tokens via a token migration contract, followed by AGIX and OCEAN,”

SingularityNET noted.

FET, AGIX, and OCEAN will be converted to ASI tokens at specified rates: FET tokens at a 1:1 ratio, AGIX at 1:0.433350, and OCEAN at 1:0.433226.

The project noted that it will release step-by-step guides on ERC-20 token migration and more details on the migration process for AGIX holders on Cardano in the coming days.

Earlier, SingularityNET hosted its first ecosystem all-hands meeting on X Spaces, featuring discussions on the latest advancements within the ecosystem, the ASI Alliance, and the broader decentralized AI landscape. Notable participants included Patrik Gudev from Jam Galaxy, Jennifer Bourke from NuNet, Stacey Engle from Twin Protocol, Jerry Hall from HyperCycle, and others.

Encouraged by the success of this event, SingularityNET plans to host another all-hands meeting in June to continue fostering collaboration within their growing decentralized AI ecosystem.

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