SingularityNET (AGIX) and Ocean Protocol Merge into Fetch.ai (FET) in Major ASI Initiative

• The Artificial Superintelligence Alliance (ASI) is set to begin its first phase of integrating SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) today.
• This significant development has garnered attention in both the AI and cryptocurrency sectors.
• Details regarding the consolidation process were recently shared on social media platform X, providing stakeholders with essential information.

Learn how the ASI integration marks a pivotal moment for AI and cryptocurrency, enhancing network capabilities and token utility.

Significant Advancements for AI and Cryptocurrencies

The first phase of the integration focuses on consolidating SingularityNET’s AGIX and Ocean Protocol’s OCEAN tokens into Fetch.ai’s FET, primarily on the Ethereum blockchain. Users holding tokens on other chains will need to bridge their assets to participate in this integration. Those preferring support on networks like Cardano or Polygon may opt to wait for the second phase.

Implications and Operational Changes

On July 1, 2024, the project’s brand and logos will undergo revisions. Deposits and withdrawals for AGIX and OCEAN will be halted, while FET transactions will continue without interruption. The transition platform on SingularityDAO will facilitate the exchange of AGIX and OCEAN for FET, and eventually, these tokens will be delisted from exchanges. Holders with tokens in centralized exchanges like Binance will experience automatic conversion to FET, whereas those with tokens in self-custody wallets will receive comprehensive guides for a seamless transition.

Community Involvement and Network Upgrades

The second phase will involve wider community participation and the expansion of ASI across all integrated chains. The Fetch.ai network will be upgraded to the ASI network, incorporating new transition contracts. During this phase, AGIX, OCEAN, and FET will convert to ASI tokens, with FET converting at a 1:1 ratio. Priority will be given to enhancing the infrastructure to improve network performance, security, and scalability.

Security Measures and Official Guidance

Throughout this merger, officials emphasize the importance of vigilance against potential scams and advise stakeholders to rely solely on information from official sources. This proactive stance aims to ensure the integrity and security of the consolidation process.

Conclusion

The ASI integration represents a strategic alignment between AI and blockchain technology, ushering in a new era of enhanced efficiency, security, and scalability for the involved networks. As the process unfolds, the cryptocurrency community should remain informed and cautious, capitalizing on the new opportunities presented while safeguarding their investments.