Token merger of Fetch.ai, SingularityNET, and Ocean Protocol to start on July 1

The Artificial Superintelligence Alliance, including SingularityNET, Fetch.ai, and Ocean Protocol, has announced updates on the ASI token merger, set to begin on July 1st. This comes after the merger was postponed to July 15th, as reported by Crypto Briefing.

This strategic move will initially merge SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens into Fetch.ai’s FET, before transitioning to the ASI ticker at a later stage. The merger aims to streamline operations and enhance efficiency for token holders.

Notably, the token migration will be facilitated through the SingularityDAO dApp, with specific conversion rates set for transitioning into FET and later into ASI tokens. Key steps include the temporary consolidation of AGIX and OCEAN tokens into the FET token, and maintaining active trading under the FET ticker.

Phase II of the merger will see the deployment of the ASI token across multiple blockchain networks, supported by upgrades to the FET network and the introduction of new migration contracts. This phase will ensure the continued interoperability and efficiency of the token across different ecosystems.

The conversion rates are: 1 FET to 1 ASI; 1 AGIX to 0.433350 ASI; and 1 OCEAN to 0.433226 ASI. Moreover, the rebranding to Artificial Superintelligence Alliance will be reflected across various data aggregators, such as CoinMarketCap and CoinGecko.