SingularityNET says over 200,000 token ERC-20 token holders could swap their AGIX, FET, and OCEAN tokens for ASI.
As part of the broader merger with Fetch.ai and Ocean Protocol, blockchain project SingularityNET has unveiled a set of dates, when holders AGIX, FET, and OCEAN could swap their coins for Artificial Superintelligence Alliance (ASI), a new token under the combined brand.
In May's edition of our Ecosystem Roundup, we explore the details of the @ASI_Alliance token merger, our successful Platform technical meetup, the overwhelming response to @DeepFunding R4, community-driven initiatives and broader ecosystem developments: https://t.co/ONZZnhcRPm
— SingularityNET (@SingularityNET) June 3, 2024
According to a blog post on Jun. 3, all three tokens would be available for swaps at different ratios:
FET tokens migrate to ASI at a conversion rate of 1:1.
AGIX tokens migrate to ASI at a conversion rate of 1:0.433350.
OCEAN tokens migrate to ASI at a conversion rate of 1:0.433226.
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As per the announcement, FET holders could swap their tokens for ASI starting from Jun. 11, while AGIX and OCEAN holders could do so on Jun. 13. SingularityNET is yet to explain the swapping process, promising to release “step-by-step guides” in the coming days, with further information on the migration process for AGIX holders on Cardano also expected soon.
The merger, first reported by crypto.news in mid-March, is anticipated to value the combined entity at approximately $7.5 billion. The new alliance will be governed by a “Superintelligence Collective,” led by SingularityNET founder Ben Goertzel. Humayun Sheikh, CEO of Fetch.ai, will serve as chairman in this innovative collaboration.
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