SingularityNET, Ocean Protocol, and Fetch.ai merger launches new token, $ASI

  • $OCEAN and $AGIX token holders are free to keep their tokens.
  • There is a fixed exchange rate of 0.433226 $ASI for $OCEAN and 0.433350 $ASI for $AGIX between $FET/$ASI and $OCEAN.
  • Options for token swapping will instantly be available. 
  • No deadline for the swap has been set.

Fetch.ai, SingularityNET, and Ocean Protocol partnered to form the Superintelligence Alliance, the world’s largest independent AI research and development company. The tokens of all three titans will now merge to form the Artificial Superintelligence token or $ASI.

https://twitter.com/Fetch_ai/status/1772980804496290083

The latest LLMs are driving innovation in the rapidly evolving field of AI. Artificial Superintelligence (ASI) is developing increasingly rapidly, while Artificial General Intelligence (AGI) is approaching its zenith. A decentralized AI should not be controlled by a select few, and projects like Fetch.ai, SingularityNET, and Ocean Protocol are working to create an open, useful, and accessible AI. 

Through this partnership, governments, businesses, and researchers studying AI will now have an alternative that won’t force them into a silo or side with a particular bias or run the risk of losing their intellectual property or the de-platforming of users. Collectively, these groups are attempting to safeguard governments, businesses, and researchers working in artificial intelligence (AI) from centralized monopolies.

With a focus on powerful computing capabilities, the Superintelligence Alliance will continue deploying useful and practical decentralized AI tools for businesses and users’ needs. Additionally, the Alliance intends to use $ASI to democratize access to such vital resources and support the sustainable growth of AI by securing energy and cutting-edge silicon in a decentralized manner.

The Superintelligence Alliance was founded to honor each person’s autonomy and sovereignty while granting them the freedom to own and manage their data and artificial intelligence. Although the Alliance will soon have one website, each Foundation will continue to operate as a separate legal business.

The current teams, communities, leadership, and token treasuries won’t go through any change. A governing council will be appointed to manage the Alliance’s governance, with Trent McConaghy and Bruce Pon from Ocean Protocol as members, Ben Goertzel from SingularityNET as CEO, and Humayun Sheikh from Fetch.ai as the chairman. On April 2nd, voting will officially start. If the tokens are successfully merged, $FET, $AGIX, and $OCEAN will become $ASI.

The Superintelligence Alliance will launch a token swap mechanism that lets $FET holders swap for $ASI tokens 1 to 1. The Alliance will manage this process and rebrand $OCEAN and $AGIX tokens to $ASI. Offline/hard wallet holders can swap tokens indefinitely or hold them as they wish. Firstly, the merge of the Superintelligence Alliance’s reserve token, $FET, will be renamed to $ASI, or ‘Artificial Superintelligence.

The Token Exchange Mechanism is expected to make $FET the Alliance’s base token and mint 1.48 billion tokens. The 2.63 billion $ASI tokens will then be distributed as 867 million to $AGIX holders and 611 million to $OCEAN holders, completing the merger.

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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