The proposed merger between Fetch.ai (FET), SingularityNET (AGIX), and the Ocean Protocol (OCEAN) is stirring significant interest within the crypto community as the three ecosystems contemplate forming an Artificial Superintelligence (ASI) token. Commencing with Fetch.ai’s community vote on April 2, this proposal marks the initiation of governance discussions for the ASI alliance.
The essence of the proposal entails a rebranding of the network and FET token to ASI, alongside a hard fork of the FET token contracts on Ethereum (ETH) and Binance Smart Chain (BSC) networks. Moreover, there’s a provision for adjusting the total token supply to accommodate potential additions to the Artificial Superintelligence Alliance.
Voting, exclusive to FET token stakers, commenced on April 2 at 13:00 UTC and will extend for five days. Following the conclusion of Fetch.ai’s vote, separate governance proposals will be presented for the AGIX and OCEAN ecosystems. The culmination of voting across all communities is anticipated by Tuesday, April 16.
Notably, the weight of an individual’s vote is contingent on the amount of FET staked, irrespective of the staking validator used. However, those staking FET on exchanges must verify their eligibility to participate in the vote directly through the respective exchange platforms.
Community engagement on the FET announcement has already sparked discussions regarding the total token supply, with suggestions ranging as high as 1.5 billion tokens. This deliberation underscores the significance of participant involvement in shaping the future trajectory of the ASI alliance.
The convergence of interests is reflected in the parallel movement of FET, AGIX, and OCEAN prices, each experiencing a decline of around 0.17%, 2.85%, and 3.14%, as per CMC data. This trend is likely attributable to arbitrage activities as traders adjust their positions in anticipation of the impending merger.
Former Ocean Protocol core team member, Mathew Kretschmann, has provided insight into the conversion rates to the Artificial Superintelligence Alliance token based on FET, AGIX, and OCEAN. This initiative signifies proactive efforts towards facilitating a seamless transition for token holders post-merger. As the ASI proposal garners momentum, it presents an unprecedented opportunity for collaboration and innovation within the decentralized finance (DeFi) landscape.
