Artificial Superintelligence Alliance postpones token merger to July

The Artificial Superintelligence Alliance, which includes SingularityNET, Fetch.ai, and the Ocean Protocol, is currently in the formation of the ASA. It has declared a new date for the ASI token merger. The date has been changed from June 13, 2024, to July 15, 2024, as a result of technological and feasibility considerations. 

This is necessary to guarantee equal opportunities for all existing exchanges, validators, and collaborators within the ecosystem during the merger process. This is why it is crucial to maintain proper control over third-party dependencies, which are frequently involved in various forms of integration during the integration preparation phase. Lastly, a focus on the best interest of all stakeholders is crucial for the effective implementation of the token merger.

Unfortunately, it was done strategically to avoid blunders that could jeopardize the token merger’s success. It was previously intended that FET’s name be changed to ASI on June 11 and the tokens on June 13. However, on July 15, FET, AGIX, and OCEAN will form the new ASI token. Until then, these tokens will remain as individual assets that are also traded on various exchanges. FET, AGIX, and OCEAN tokens will be amalgamated into the ASI token after third-party integrations are complete.

Assistance will be available through the official communication channels of FET, AGIX, and Ocean, as well as the ASI channel. All token and migration contracts and audits will be shared this week. 

According to Humayun Sheikh, CEO of Fetch.ai and chairman of the Artificial Superintelligence Alliance, the merger of ASI tokens has been postponed until July owing to partner changes, but their commitment and vision for this cooperation remain unshakable. The delay is temporary and does not affect the significant progress made toward establishing a decentralized superintelligence network. Teams are working with centralized exchanges to finish procedures. The ongoing support and comprehension of the community and stakeholders are greatly valued during these final logistical steps.

Ben Goertzel, the founder and CEO of SingularityNET Foundation and Artificial Superintelligence Alliance, claimed that they have been advancing toward the two organizations consolidating AI and blockchain technology while exploring the issues of merging the tokens. 

The finalization of this merger on July 15th will mark a significant milestone for them; however, they anticipate a series of even more noteworthy steps as they leverage their $ASI-tokened network to enhance their current artificial intelligence systems and gradually reach superintelligence.

Bruce Pon, the creator and leader of Ocean Protocol and an ASC board member of the Artificial Superintelligence Alliance, also echoed, expressing his appreciation to the community and looking forward to the integration of $ASI tokens with the full support of all partners, exchanges, and token holders involved. 

For the time being, token holders can rest assured that they are not required to take any action. No additional time extensions are anticipated, and the consolidation of the ASI token is still proceeding as intended.

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It is necessary to make this strategic adjustment to ensure that the merger is effective and successful, as well as to meet all technical and organizational requirements. Despite the potential disappointment, it speaks volumes about the Alliance’s commitment to delivering a powerful and structured integration that paves the way for the ASI token to undergird more advanced and efficient AI in the future.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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