Why are these tokens merging?
This first-of-its-kind AI tokenomic merger combines three premier projects from the blockchain space, creating an independent, open-source leader in the development of artificial general intelligence. This merger seeks to accelerate progress toward decentralized AGI and further toward the next step of Artificial Superintelligence. This also leads to a single $ASI token with a combined utility of the three ecosystems.
How will this transaction work?
After the proposal receives approval from the respective communities, Fetch.ai ($FET) token holders will receive 1 $ASI token per 1 $FET token, SingularityNET ($AGIX) token holders will receive 0.433350 $ASI tokens per $AGIX token and Ocean Protocol ($OCEAN) token holders will have receive 0.433226 $ASI tokens per $OCEAN token.
The total token supply will be set to 2.63055 billion $ASI tokens. Soon after securing community approval, the merged tokens will be renamed Artificial Superintelligence ($ASI).
How does this benefit token holders?
This token merger combines three premier projects from the blockchain space, creating an independent, open-source leader in the development of AGI. Token holders are expected to benefit as the project seeks to accelerate progress toward decentralized AGI, moving the world further toward the next step of Artificial Superintelligence.
Exchanging the original tokens to $ASI tokens will result in the burning of the existing tokens. $ASI token supply will reflect the existing token supply of all three projects in terms of value.
Having a single utility token is a precursor for greater interoperability of the three ecosystems. This will result in increased collaboration for our combined communities.
What are the token conversion rates?
The conversion rate of $FET to $ASI is 1:1. Therefore, if the user has 500 $FET, then this can be converted to 500 $ASI tokens.
Ocean Protocol ($OCEAN) token holders will receive 0.433226 ASI tokens per $OCEAN token and SingularityNET ($AGIX) token holders will receive 0.433350 $ASI tokens per $AGIX token.
Do I need to do anything to make sure my tokens are part of the merged asset?
Conversion steps to the $ASI token will depend on your specific situation. Conversion tools will be provided if further action is required. Please only refer to official communications released through the official channels of the three respective projects.
When will the token swap be made available?
Given the complexities in coordinating with exchanges and assessing the further impacts, we will communicate a fixed date in the future.
We encourage users to join the new ASI Telegram, Discord, Reddit and Twitter groups for the latest updates on this.
What happens to my tokens on centralized exchanges?
If you have tokens on a centralised exchange, no action is needed. We will work with each exchange to ensure a smooth conversion and your holdings will automatically be converted to $ASI tokens directly by the exchange.
When an exchange has converted all old tokens, the ticker will be retired from the exchange. If anyone accidentally sends the old tokens to an exchange after the conversion event, we cannot guarantee that the tokens will be available or converted to $ASI. So please keep abreast of notices and announcements from your exchanges.
If you are holding your tokens in hardware wallets or offline, a token migration mechanism will be available in the coming weeks to allow holders to exchange their tokens for $ASI.
- This page will be updated as more information is available as we work on our token merger.