🌎 SingularityNET, Fetch.ai, Ocean Protocol Merge to Form ASI Token

SingularityNET has announced that over 200,000 ERC-20 token holders can now swap their AGIX, FET, and OCEAN tokens for the new ASI token. This initiative is part of a larger merger involving Fetch.ai and Ocean Protocol, under the combined brand of Artificial Superintelligence Alliance (ASI).

Token Swap Details

According to a recent blog post from SingularityNET, the swaps will occur at the following conversion rates:

FET tokens to ASI at a 1:1 conversion rate.
AGIX tokens to ASI at a 1:0.433350 conversion rate.
OCEAN tokens to ASI at a 1:0.433226 conversion rate.

FET holders can begin swapping their tokens for ASI starting from June 11, while AGIX and OCEAN holders can do so on June 13. Detailed, step-by-step guides will be released soon to assist users in the swapping process. Additionally, more information on the migration process for AGIX holders on Cardano is expected to be provided shortly.

Merger Overview

The merger, first announced in mid-March, is expected to value the new entity at approximately $7.5 billion. The alliance will be governed by a “Superintelligence Collective,” led by SingularityNET founder Ben Goertzel. Humayun Sheikh, CEO of Fetch.ai, will serve as chairman of this collaboration.