Artificial intelligence (AI) and machine learning platform Fetch.ai, decentralized data trading platform Ocean Protocol, and AI service trading platform SingularityNET jointly announced on the 27th of last month that the three will jointly establish an "Artificial Intelligence Super Alliance" and merge the tokens into $ASI for joint management, aiming to create the largest open source decentralized network to accelerate the development of general artificial intelligence (AGI).
The proposal to merge into ASI has been approved by the community vote
Just yesterday (16), the cooperation of these three major AI projects ushered in the latest progress. Fetch.ai stated that after voting by the Super Artificial Intelligence Alliance (ASI), it has officially approved the merger of ASI tokens, which is expected to begin in the next few weeks. It also stated that the total value of this merger is expected to be US$7.5 billion, which will make $ASI one of the top 20 cryptocurrencies in terms of market value.
Humayun Sheikh, Chairman of the Alliance for Artificial Superintelligence and CEO of Fetch.ai, commented:
We are pleased to announce the successful conclusion of the token merge voting process. This marks the beginning of a new chapter in the development of artificial intelligence, where our collective efforts will drive progress towards decentralized AGI and ASI.
What are the potential arbitrage opportunities for the merged token $ASI?
As part of the formation of the alliance, the three parties previously stated in a joint announcement that they will merge their own tokens FET, OCEAN and AGIX into a unified token ASI. Click the main leaf to follow the official account: Bifangshe. The specific proportion of free entry is as follows:
FET will directly convert to ASI at a 1:1 ratio
An additional 1.48 billion ASI will be minted, of which 867 million will be allocated to AGIX holders and 611 million will be allocated to OCEAN holders
AGIX tokens will be converted to ASI at a conversion rate of 0.433350:1
OCEAN tokens are also converted to ASI at a rate of 0.433226:1
The total supply of ASI is 2.63055 billion
It is worth noting that since the exchange rate of the three tokens to ASI is unchanged, the final ASI that can be converted may have a price difference depending on the different market prices of the three, providing arbitrage space for investors.
Are there any discounts for AGIX and OCEAN now?
The specific calculation method is: after multiplying the market price of FET by 0.433, if the market prices of AGIX and OCEAN are lower than the obtained price, it means that you can buy FET at a discount (it will become ASI in the future).
According to the market price at the time of writing, FET is currently quoted at $2.034, which is approximately $0.88 after multiplying by 0.433.
AGIX and OCEAN are currently quoted at $0.835 and $0.837, which are lower than the calculated price. Therefore, if you buy them now, you can earn about 5% of the price difference when you convert them to ASI tokens in the future.
Of course, this also depends on the price changes after conversion to ASI tokens. Please pay attention to investment risks and it does not constitute investment advice.
