Artificial Superintelligence Alliance Reschedules Token Merger to July 15, 2024

The Artificial Superintelligence Alliance, consisting of Fetch.ai, SingularityNET, and Ocean Protocol, has postponed its planned token merger. Initially scheduled for June 13, 2024, the merger will now take place on July 15, 2024.

The Artificial Superintelligence Alliance, which includes Fetch.ai, SingularityNET, and Ocean Protocol, has announced a delay in its planned token merger.

Initially scheduled for June 13, 2024, the merger will now take place on July 15, 2024. This adjustment is to accommodate the necessary preparations by partners to ensure the smooth integration of their respective tokens into the new Artificial Superintelligence token (ASI).

The token merger, which will see the creation of a new ASI token and the deprecation of FET, AGIX, and OCEAN tokens, is a key step in the Alliance's goal of advancing artificial superintelligence (ASI) technology.

According to the announcement, the delay in the merger was primarily due to the technical complexities and logistics involved in managing three different tokens and their holders. The Alliance team has been actively coordinating with centralized exchanges, validators, and other ecosystem partners to complete third-party dependencies.

“The Artificial Superintelligence Alliance is pleased to announce that the token merger, initially planned for June 13, 2024, has been rescheduled to July 15, 2024, to allow for the necessary adjustments by partners to ensure seamless integration of their respective tokens into the new Artificial Superintelligence (ASI) token,” reads the announcement.

“This adjustment is to accommodate the preparations by partners to ensure the smooth integration of their respective tokens into the new ASI token. Token holders of Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) do not need to take any immediate action.”

As previously reported by AI News, the merger will see FET, AGIX, and OCEAN holders receive new ASI tokens at a 1:1 ratio. Token holders of the three projects will be able to swap their old tokens for the new ASI token through a smart contract-based mechanism.

After the merger, the ASI token will become the primary governance, utility, and value accrual token within the Artificial Superintelligence ecosystem. It will be used for various purposes, including governance voting, accessing ASI services, and rewarding contributions to the ASI network.

The Artificial Superintelligence Alliance, launched in 2023, aims to accelerate the development and deployment of beneficial ASI by bringing together key players in the ASI ecosystem. The Alliance is working to establish standards, promote interoperability, and advance the legal and ethical frameworks for ASI.