The big day has come for 3 artificial intelligence coins: What will happen to the tokens?

Artificial Superintelligence Alliance (ASI) association, SingularityNET (AGIX), Fetch.

The first of the two-stage process, which includes the Artificial Superintelligence Alliance (ASI) merger, SingularityNET (AGIX), Fetch.ai (FET) and Ocean Protocol (OCEAN), will begin today.

The long-awaited day has come for ASI, which has been on the agenda in both artificial intelligence and crypto industries for a while. The team shared detailed information about the merger process in their post on X:

In the first phase, SingularityNET's AGIX and Ocean Protocol's OCEAN token will be consolidated into Fetch.ai's FET token. In this process, tokens will come together on the Ethereum network. Those on other chains will need to bridge from their own chains to join the merge. Users who want to wait for other chains such as Cardano or Polygon to be supported can wait for the second phase.

The project name and logos will be revised on July 1, 2024. Deposits and withdrawals will be closed for AGIX and OCEAN, but transactions for FET will continue uninterrupted. A transition platform for AGIX and OCEAN tokens to FET will be opened on SingularityDAO and these tokens will begin to be removed from the exchanges.

At this stage, no action is required for token holders on centralized exchanges such as Binance; tokens will automatically be converted to FET at the appropriate rate. Users in their own custodial wallets on the Ethereum mainnet will receive detailed guides for a smooth transition.

The second phase will aim to involve community members and ASI will be distributed across all chains. The Fetch.ai network will be upgraded to the ASI network and new migration contracts will be introduced. AGIX, OCEAN and FET tokens will be converted to ASI. FETs will be converted to ASI at a one-to-one ratio. In this process, emphasis will be placed on infrastructure improvements to increase the performance, security and scalability of the network.