AI titans launch token migration with $EFT to $ASI swap

The Superintelligence consortium’s reserve currency is $EFT, but it will change its name to $ASI after successful government approval. Ocean Protocol, Fetch.ai, and SingularityNET will soon submit proposals to concerned government authorities.

If the Artificial Superintelligence consortium gets government approval, the token of Artificial Superintelligence can be swapped against $EFT at the rate of 1:1. Ocean Protocol will convert $OCEAN tokens into $ASI, and $AGIX tokens will be converted to $ASI at a prearranged exchange rate. It is exciting to know about the novel market value of equity based on the token merge.

The total value of the Superintelligence consortium is estimated at $7.5 billion with a whopping 2.631 billion tokens, which sets $EFT as the legal tender. The $EFT token will get a new name, $ASI, starting with $EFT as the default token of the newly formed consortium.

The Superintelligence Consortium has informed us that $EFT holders are not supposed to do anything right now. The consortium members will chat with the crypto community as the announcement goes live.

Executing the token merge is the first and foremost step after creating a token migration structure. $EFT will remain the reserve currency of the Superintelligence consortium and will be rechristened as ‘’$ASI: Artificial Superintelligence”. Nothing is to be done by $OCEAN and $AGIX holders. The exchange rate between $EFT, $OCEAN, $AGIX, and $ASI is fixed, and another remarkable point to note is that the swap mechanism will remain indefinitely. Hence, users are entitled to swap tokens at their convenience.

It is noted that $EFT tokens on a crypto exchange will be automatically rebranded as $ASI tokens. Crypto investors need not do anything, and the Superintelligence consortium will work with exchanges on behalf of clients. No action is required if an investor has $OCEAN and $AGIX tokens on an exchange.

The Superintelligence consortium will work with each crypto exchange to guarantee a hassle-free conversion. The crypto exchange will convert investors’ holdings automatically into $ASI tokens straightaway. After executing a successful conversion, it is recommended not to deposit $OCEAN/$AGIX tokens into crypto exchanges.

Individuals holding tokens in hard wallets or offline can use the token swap system to exchange $AGIX and $OCEAN for $ASI; this facility will be available in the upcoming weeks. Once it becomes publicly available, the token mechanism will be available to investors indefinitely to exchange their $AGIX and $OCEAN for $ASI. 

The magnificent feature of this swap mechanism is that stakers won’t have to worry about any FX or exchange risk. Although the swap contract has been tested and audited successfully, the Superintelligence consortium plans to conduct a more comprehensive examination and chat with partners. It will be the beginning step to massive data and artificial intelligence services commercialization.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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