Community Voting Approaches for $7.5B AI Crypto Token Merger

A merger involving three artificial intelligence (AI) protocols – SingularityNet, Fetch.ai, and Ocean Protocol – worth $7.5 billion is set to be voted on by the community on April 2. The union, known as the Artificial Superintelligence Alliance (ASI), will replace the existing tokens for each protocol with a new token called ASI. The community will vote on each protocol separately, and if approved, the merger will be completed by April 16. The ASI token will have a market cap of $7.5 billion and a total of 2.631 billion tokens. Currently, the combined market cap of the three tokens is around $5.3 billion.

The developers have stated that if the merger is approved, holders of Fetch.ai (FET) tokens will be able to swap them for ASI tokens at a 1:1 ratio. This means that if someone holds 100 FET tokens, they will be able to exchange them for 100 ASI tokens. The FET token will become the reserve currency of ASI. Ocean Protocol (OCEAN) and SingularityNet (AGIX) holders will also be able to convert their tokens into ASI at a new fixed rate.

To accommodate the merger, an additional 1.48 billion ASI tokens will be created. Of these, 867 million ASI tokens will be allocated to AGIX holders, and 611 million ASI tokens will be allocated to OCEAN token holders. This means that Singularity and Ocean token holders will receive 0.433226 ASI tokens per OCEAN token and 0.433350 ASI tokens per AGIX token.

The developers have assured users that if they hold OCEAN and AGIX tokens on an exchange, they do not need to take any action. The tokens will be automatically converted to ASI tokens by the exchange. Users may need to look for the ASI symbol instead of OCEAN or AGIX on the exchange. For users who hold tokens in self-custody wallets, they will have the option to convert their balance to ASI tokens using the swap mechanism, which will be available indefinitely.

In addition to the merger, the ASI Alliance will focus on developing decentralized AI protocols using blockchain technology. The aim is to create protocols that are not controlled by centralized parties or large stakeholders. The alliance will work together to achieve this common goal.