Author: Nancy, PANews

Recently, the token merger proposal of SingularityNET, Fetch.ai, and Ocean Protocol has been approved by community vote, and the Super Artificial Intelligence Alliance (ASI) will officially launch in May this year. So, how will the original tokens of these projects be exchanged for the new coin? What are the differences in the business focus after the merger?

In March of this year, SingularityNET, Fetch.ai, and Ocean Protocol announced the merger of their respective tokens into an artificial intelligence token called "ASI," which was approved by the community vote the following month.

According to the proposal, the total token supply of $ASI is 26.3 billion, with a fully diluted market value of $75 billion, which will place it among the top 20 in cryptocurrency market capitalization. However, the official has not disclosed more details about the token economic model. The token merger of $FET, $AGIX, and $OCEAN is expected to be completed in early May. The number of wallet holders for these tokens exceeds 250,000, with $FET being exchanged at a ratio of 1:1 for $ASI, with a total supply of 26.3055 billion tokens; the exchange rate for $AGIX token is 0.43335:1; and the exchange rate for $OCEAN is 0.433226:1. Due to the unchanged exchange ratio, the official also pointed out that there is a certain arbitrage space between the prices of the three tokens.

For example, according to CoinGekco data as of April 17th, the price of $FET was $2.04, $AGIX was $0.84, and $OCEAN was $0.86. Based on the current prices, the price of $ASI is temporarily $2.04, and if users purchase $AGIX and $OCEAN at the current prices, there will be an arbitrage space of 2.7% to 5%.

The token exchange contract for $ASI has been tested and audited and is open for the long term. Holders on centralized exchanges can automatically exchange without any operation; for holders on third-party platforms such as wallets, the token exchange mechanism will be launched in the coming weeks. Once 95% of the token supply of $OCEAN and $AGIX is exchanged for $ASI, Ocean Protocol and SingularityNET will remove all liquidity pools.

Prior to this, SingularityNET, Fetch.ai, and Ocean Protocol were all conceptual projects in artificial intelligence. SingularityNET was founded by Dr. Ben Goertzel, the "father of AGI"; Fetch.ai was founded by Humayun Sheikh, an early investor of DeepMind, a company acquired by Google, and Ocean Protocol was founded by Trent McConaghy, an architect of artificial intelligence software that drives Moore's Law.

Regarding the reasons for the merger of these three entities, Humayun Sheikh explained that in the exponentially innovative world of artificial intelligence, ASI hopes to create the world's first open and decentralized network for ASI (Super Artificial Intelligence) and AGI (General Artificial Intelligence), allowing all stakeholders involved in network construction to freely choose to own and control their own data and artificial intelligence. Compared to existing giant AI solutions, ASI will be more open source, fair, and decentralized.

The Super Artificial Intelligence Alliance will launch on May 24th, and Fetch, Ocean Protocol, and SingularityNET will continue to operate as independent entities, closely cooperating in the shared $ASI token economic ecosystem and alliance operations. As for the governance of $ASI, the Super Artificial Intelligence Alliance Management Committee will be responsible for supervising and guiding the operation of the token economic network. The committee is chaired by Humayun Sheikh, with Ben Goertzel as CEO, and Trent McConaghy and Bruce Pon, another co-founder of Ocean Protocol, also joining the leadership.

In the mainstream trend of cryptocurrency + AI, whether ASI can further open up greater development space based on its high market value of up to $75 billion and over 250,000 users, leveraging the ASI and AGI narrative, remains to be verified over time.

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