In an unprecedented move, Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) are considering a merger to establish the Artificial Superintelligence (ASI) Alliance, aiming to create a decentralized AI platform. This initiative marks a pivotal moment in the pursuit of a unified AI infrastructure that’s open source and accessible.
Merging Strengths for a Unified Vision
The proposed ASI Alliance, spearheaded by SingularityNET’s CEO Ben Goertzel, intends to harness the distinct advantages of each participating protocol. Fetch.ai contributes its sophisticated autonomous AI agents, Ocean Protocol enhances the platform with data sharing and monetization capabilities, and SingularityNET brings a wealth of AI integration expertise.
The ASI Token: A New Benchmark
Central to this alliance is the introduction of the ASI token, which will be initially priced at $2.82 and have a total supply of 2.63 billion tokens. The distribution of these tokens among the founding protocols—Fetch.ai, SingularityNET, and Ocean Protocol—reflects the collaborative spirit of this merger. Voting for the merger is scheduled to take place in early April, with specific dates outlined for each protocol’s community.
Token Swap Ratios and Governance Implications
The merger strategy includes detailed token swap ratios, with FET tokens exchanging at a 1:1 ratio and AGIX and OCEAN tokens at a 1:0.43 ratio. This arrangement also entails the creation of an additional 1.48 billion tokens to accommodate AGIX and OCEAN holders.
The proposed merger has significant implications for Ocean Protocol’s data farming incentives, prompting a temporary halt to assess the community’s feedback. However, the arrangement ensures that veOCEAN holders will continue to receive rewards post-merger, maintaining their stake in the platform’s future.
Ensuring Stability and Opportunity
The merger is designed to minimize price volatility between the tokens, with a fixed conversion ratio aimed at fostering arbitrage opportunities. This stability is crucial for FET’s role as a reserve currency within the new ecosystem.
This collaborative effort to merge Fetch.ai, Ocean Protocol, and SingularityNET into the ASI Alliance could revolutionize the AI and blockchain landscape, making advanced AI more accessible and fostering innovation across sectors.
