ASI token merger FET Fetch.ai

Explore the ASI token merger, uniting Fetch.ai, Ocean Protocol and SingularityNET to advance decentralized AI.

The upcoming token merger between Fetch.ai, Ocean Protocol, and SingularityNET aims to unify under the new ASI ticker, creating the Artificial Superintelligence Alliance (ASI) ecosystem. This merger aims to establish a leading force in decentralized AI. Starting on July 1, 2024, the ASI token merger begins, consolidating SingularityNET’s AGIX and Ocean Protocol’s OCEAN into Fetch.ai’s FET, with a transition to the ASI ticker planned for Phase 2.

Phase I

Token Merger on Ethereum:

  • Focus: merge AGIX (SingularityNET) and OCEAN (Ocean Protocol) into FET (Fetch.ai) on the Ethereum Blockchain.
  • Bridging requirement: holders on other chains must bridge their tokens to Ethereum to participate in Phase 1.
  • Alternative option: users can wait for Phase 2 for support on other chains like Cardano or Polygon.

Rebranding:

  • The project will be rebranded as the Artificial Superintelligence Alliance across major platforms.

Token merge:

  • Migration for AGIX and OCEAN to FET opens on the SingularityDAO dApp. AGIX and OCEAN will begin to be delisted from exchanges.

FET trading:

  • Spot and perpetual trading will continue under the FET ticker.

NB : For token holders with funds on centralized exchanges such as Binance, no action is required. Your OCEAN and AGIX tokens will be automatically converted to FET at the appropriate ratio on July 1st, with a seamless transition to ASI in mid-July. Those holding funds in self-custody on the Ethereum mainnet will receive detailed guides and tutorials to ensure an easy transition.

Phase II 

ASI deployment:

  • Multi-Chain deployment: the ASI token will be deployed across multiple blockchains.

Network upgrades:

  • Fetch.ai to ASI network: the Fetch.ai network will be upgraded and rebranded to the ASI network.

New migration contracts:

  • Token conversion: new contracts will be introduced for converting FET, AGIX, and OCEAN tokens to ASI.

Exchange migration:

  • Market transition: exchanges will start migrating spot markets from FET to ASI.

Conversion rates:

  • FET to ASI 1:1
  • AGIX to ASI 0.43350:1
  • OCEAN to ASI 0.433226:1

Supported wallets and conversion process

The new ASI token merger will be compatible with all major software wallets (e.g., MetaMask, Trust Wallet) and hardware wallets (e.g., Ledger, Trezor) that the communities are familiar with. For those opting for manual conversion (on-chain, self-custody):

  1. Connect your wallet to the SingularityDAO dApp
  2. Go to “MORE” –> “MIGRATE”
  3. Approve the migration amount, then click on “MIGRATE”

Confirm the transaction through your wallet. First-time holders of AGIX, OCEAN, or FET may need to add the token contract to their wallet to display balances correctly. The SingularityDAO conversion portal simplifies this with an “Add to Wallet” feature in the migration interface.

Important reminders:

The conversion window will remain open for years, so there is no need to rush the conversion process. Utilize only the official conversion smart contracts. Standard transaction fees will apply, but there are no additional conversion charges. Avoid entering private information, such as your seed phrase, during the conversion process.

NB: for native FET holders, staked tokens will be automatically migrated in Phase 2 and staking rewards will continue without interruption. Liquidity providers must manually withdraw and re-allocate their funds to updated pools for optimal efficiency.

During the network upgrade, exchanges may experience temporary downtime and disruptions as they update their markets. Experienced professionals have meticulously planned and tested every aspect of this upgrade to ensure a smooth transition. Rest assured, they have conducted thorough testing to minimize any impact on users and uphold network integrity. Stay informed and follow official updates to navigate this transition confidently.

The ASI token merger represents a significant advancement for decentralized AI, strengthening the ecosystem to effectively compete against major tech players. Expect further improvements in ASI’s performance and its application possibilities in the future.

Check the official website for updates regarding the merger.
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