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Token merger of SingularityNET, Fetch.ai, and Ocean Protocol goes live

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The Synthetic Superintelligence Alliance, together with SingularityNET, Fetch.ai, and Ocean Protocol, introduced immediately the launch of a multi-coin merger. Their respective tokens, together with FET, AGIX, and OCEAN, will begin being merged right into a single unified token referred to as ASI.

Launched in March, the merger is a part of the alliance’s aim to construct an moral, decentralized AI ecosystem utilizing sources and experience from member corporations. The workforce additionally expects to construct a sturdy AI various that might problem Massive Tech’s management over AI improvement.

As beforehand reported by Crypto Briefing, the token merger has two phases.

Section 1 begins with AGIX and OCEAN tokens being merged into FET. In the meantime, FET buying and selling continues whereas rebranding happens throughout platforms. The migration platform can also be open on the SingularityDAO dApp to facilitate the conversion of AGIX and OCEAN tokens to FET tokens.

AGIX and OCEAN tokens will begin being faraway from numerous exchanges as a part of the migration course of. This part focuses on onboarding exchanges and information aggregators for a clean transition.

Following part 1, part 2 is predicted to happen in mid-July. This part focuses on neighborhood onboarding and ASI token deployment.

The ASI token merger timeline – Supply: @ASI_Alliance

The Fetch.ai community will bear an improve to change into the ASI community. The brand new ASI token might be launched and deployed throughout a number of blockchain networks. As famous, holders of self-custodial belongings will be capable of convert their tokens to ASI.

As well as, new sensible contracts might be obtainable to facilitate the conversion of FET, AGIX, and OCEAN tokens to ASI tokens. Ethereum Digital Machine (EVM) and different blockchain bridges may also be activated for ASI token transfers.

In response to the ASI alliance, the migration contracts will stay open for a number of years. The workforce will launch detailed directions to make sure a clean transition. Presently, all preparations for the second part are in progress.

Crypto exchanges will transition their spot markets from FET to ASI tokens within the second part. A number of main exchanges have introduced plans to assist the ASI merger. Particularly, Bitfinex, Cooperative, Bitget, Binance, and KuCoin will pause choices of affected tokens on July 1 or 2. Crypto.com already did that on June 28.

Nevertheless, Coinbase will choose out of the ASI token merger migration. Final week, the trade stated customers who needed to take part within the merger may do it manually. Coinbase will proceed to assist buying and selling for OCEAN and FET tokens “till additional discover.”

Humayun Sheikh, chairman of the Synthetic Superintelligence Alliance and CEO of Fetch.ai, stated the merger goals to set new requirements for collaboration and openness throughout the AI business.

“At the moment’s token merger underscores our dedication to advancing protected synthetic intelligence,” stated Sheikh. “By merging our tokens, we goal to boost operational effectivity and seamlessly combine decentralized AI methods, making certain broad entry to cutting-edge AI applied sciences.”

Ben Goertzel, CEO of the Synthetic Superintelligence Alliance and SingularityNET, believes the merger will foster product collaborations, serving to them obtain helpful superintelligence.

“We’re excited to have reached this milestone alongside the trail to realizing our imaginative and prescient of an Synthetic Superintelligence Alliance able to profitable the AGI and ASI race for the decentralized ecosystem,” stated Goertzel.

Bruce Pon, Council Board Director of Synthetic Superintelligence Alliance and founding father of Ocean Protocol, stated the token merger will pave the best way for future user-centric merchandise.

“We’re grateful to the neighborhood, exchanges and different companions for accommodating this token merger. We’re actually trying ahead to specializing in our customers and merchandise that enhance adoption,” stated Pon.

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