The Big Day for Three AI Coins: What Lies Ahead?

The much-anticipated moment has arrived for three prominent artificial intelligence coins: Artificial Superintelligence Alliance ($ASI), SingularityNET ($AGIX), and Fetch.ai ($FET ). Today marks the beginning of the first phase of a two-stage process that will see the merger of these tokens, along with the inclusion of Ocean Protocol (OCEAN).

The Artificial Superintelligence Alliance (ASI) has been making waves in both the AI and crypto communities. Detailed information about the merger process has been shared by the team on X. In this initial phase, SingularityNET's AGIX and Ocean Protocol's $OCEAN tokens will merge into Fetch.ai's FET token. This consolidation will occur on the Ethereum network, and tokens from other chains will need to be bridged over to participate. Those who prefer to wait for support for chains like Cardano or Polygon can do so in the second phase.

Starting July 1, 2024, the project name and logos will be updated. Deposits and withdrawals for AGIX and OCEAN will be paused, but FET transactions will continue without interruption. A transition platform on SingularityDAO will facilitate the conversion of AGIX and OCEAN tokens to FET, and these tokens will gradually be delisted from exchanges.

For token holders using centralized exchanges like Binance, no action is required; tokens will automatically convert to FET at the appropriate rate. Detailed guides will be provided for users with tokens in their own custodial wallets on the Ethereum mainnet to ensure a smooth transition.

In the second phase, the focus will shift to involving community members and distributing ASI across all chains. The Fetch.ai network will be upgraded to the ASI network, introducing new migration contracts. AGIX, OCEAN, and FET tokens will be converted to ASI, with FET converting at a one-to-one ratio. This phase will emphasize infrastructure improvements to enhance the network's performance, security, and scalability.

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