Announcement Came for FET, AGIX and OCEAN – Here is the Merger Date

SingularityNET announced plans to merge the Artificial Superintelligence Alliance (ASI) token with the existing AGIX token. This process will begin on June 11 and will be initiated by renaming the Fetch.ai (FET) token to ASI.

The merger is expected to be completed by June 13. This step is seen as a significant development in efforts to unite the fetch.ai, AGIX, and Ocean Protocol (OCEAN) communities under a decentralized artificial intelligence network.

How Will the ASI Merger Happen?

The merger process will begin on June 11 with the conversion of FET tokens to ASI at a rate of 1:1, followed by the conversion of AGIX and OCEAN tokens to ASI at rates of 1:0.433350 and 1:0.433226, respectively, on June 13.

This transition process will take place on SingularityNET's decentralized artificial intelligence platform. Users will be able to exchange their tokens securely using an audited token transport contract provided by SingularityNET. The ASI merger aims to create the largest open-source decentralized network in the AI ​​industry and aims to bring together more than 200,000 token holders.

“The ASI token will run on a unified decentralized AI network, providing unprecedented scale and power,” SingularityNET said. He made a statement.

They stated that they plan to publish detailed instructions on how to migrate ERC-20 tokens in the coming days. They will also give holders of AGIX tokens, especially those on the Cardano blockchain, more information on how to move their tokens.