Artificial Superintelligence Alliance Merger Postponed till the 15th of July 2024
The Artificial Superintelligence Alliance has announced that the merger between SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) will be postponed till the 15th of July 2024. The original date of the merger was scheduled for the 13th of June 2024.
Why is the merger being postponed?
From what has been communicated by the Artificial Superintelligence Alliance, the schedule change is essential to address the logistical needs and technical dependencies of exchanges, validators, and other ecosystem partners.
The preparation for the token merger requires managing intricate integrations, meticulous coordination, and attention to many dynamic elements. These external dependencies are crucial for the seamless execution of the token merger, and meeting the needs of all stakeholders.
The delay is a strategic move to ensure the token merger is performed with the utmost accuracy and efficiency.
"While the finalization of the ASI token merger is now scheduled for July due to necessary adjustments by our partners, the commitment and vision driving this alliance remain stronger than ever. This temporary delay does not impact the substantial progress we have made towards creating a decentralized superintelligence network. Our teams are actively working with centralized exchanges to finalize the remaining steps. We appreciate the continued support and patience of our community and stakeholders as we work through these final logistical steps.” —Humayun Sheikh, CEO of Fetch.ai and chairman of the Artificial Superintelligence Alliance.
Recap: why are they merging in the first place?
This groundbreaking merger brings together three blockchain companies to create a leading independent, open-source entity focused on developing artificial general intelligence (AGI). The reason for merging the tokens is straightforward: to speed up advancements toward decentralized AGI and move closer to achieving Artificial Superintelligence. Additionally, the merger will result in the creation of a single ASI token that integrates the functionalities of all three ecosystems.
What is Fetch.ai (FET)?
Fetch.ai is a platform utilizing Autonomous Economic Agents powered by artificial intelligence to automate decentralized finance (DeFi) for individuals and aggregate data for on-chain oracles. This technology facilitates the creation of customized oracles that manage users' DeFi positions through decentralized, non-custodial protocols, enhancing the security and ease of managing crypto assets. Built on the Cosmos-SDK, the Fetch.ai network employs advanced cryptography and machine learning within its high-performance smart contract language, Cosmwasm. It can operate as a layer-2 network for Ethereum and act as an interchain bridge to the broader blockchain ecosystem.
What is Ocean Protocol (OCEAN)?
Ocean Protocol is a blockchain-based platform designed to foster a decentralized data economy by enabling secure and transparent data sharing between providers and consumers. The platform empowers data providers to control how their data is used and accessed while incentivizing consumers to buy and utilize the data. The network operates on its native utility token, OCEAN, which facilitates value exchange within the ecosystem. Data providers sell their data using OCEAN, and data consumers use it to purchase and access data from the network.
What is SingularityNET (AGIX)?
SingularityNET is a blockchain-based platform that allows users to easily create, share, and monetize AI services through its globally accessible AI marketplace. Users can explore, test, and purchase a wide range of AI services using the platform’s native utility token, AGIX. The marketplace also provides AI developers with a platform to publish and sell their AI tools, as well as monitor their performance.
What to expect now?
The merger between Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) will now occur on the 15th of July 2024. On this date, FET, AGIX, and OCEAN will merge into the new ASI token.
What happens to my coins on Finst?
Due to the merger being postponed, we inform you that as of the 12th of June, trading, deposits and withdrawals of Fetch.ai (FET) are available again. We will keep you informed about the merger in the coming few weeks as soon as we have further information.
If you have any questions, please don’t hesitate to get in touch with us.
