AI Token Merger Paves the Way: Fetch.ai Community Greenlights Renaming

Fetch.ai's community has approved the first of three proposals to rename FET to ASI. This proposal paves the way for the merger of Fetch.ai, Ocean Protocol, and SingularityNET, forming the Artificial Super Intelligence (ASI) network and token. The merger aims to ensure that AGI (Artificial General Intelligence) and ASI are not owned and controlled by any particular party, fostering an open, democratic, and decentralized development process.

Fetch.ai Community Approves Renaming Proposal, Paving the Way for AI Token Merger

London, April 10, 2024 - The Fetch.ai community has taken a significant step towards the transformative merger of three prominent artificial intelligence (AI) projects, Ocean Protocol, SingularityNET, and Fetch.ai, into a unified Artificial Super Intelligence (ASI) Alliance.

In a community vote held on Tuesday, the Fetch.ai community overwhelmingly approved the first proposal in a series of three that will establish the foundation for ASI. The proposal received an overwhelming endorsement, with 99.8% of votes in favor.

The approved proposal outlines several key changes that will pave the way for the merger. These include:

• Name Change: The Fetch.ai network and its native token, FET, will be renamed to ASI and ASI, respectively.
• Hard Fork: The FET token contracts on the Ethereum network and BNB Smart Chain will undergo a hard fork to implement the necessary changes.
• Token Supply Adjustment: The total supply of ASI tokens will be adjusted to accommodate the merger of Ocean Protocol's OCEAN token and SingularityNET's AGIX token.

With the first proposal approved, voting for the second and third proposals has commenced. These proposals cover the specific details of the merger, including the token swap ratios and the distribution of ASI tokens.

The merger, once completed, will result in the creation of a new ASI token with a market capitalization of approximately $7.5 billion. The new token will serve as the governance token for the unified ASI Alliance, providing holders with voting rights on proposals that shape the direction of the platform.

The ASI Alliance aims to create an open and decentralized ecosystem for the development and deployment of AI technologies. By combining the strengths of each project, the alliance seeks to accelerate the adoption of AI solutions and ensure that AGI and ASI are developed and utilized for the benefit of society as a whole.

In the wake of the first proposal's approval, the prices of FET, AGIX, and OCEAN have recorded gains alongside the broader crypto market. According to data from CoinGecko, AGIX has increased by 5.19% in the last 24 hours, while FET and OCEAN have risen by 4% and 3.8%, respectively.

The successful merger of the three projects is expected to trigger a rally for AI tokens in the coming months, as the market recognizes the potential of the unified ASI Alliance. The alliance's focus on open, democratic, and decentralized AI development is seen as a major step towards ensuring the responsible and equitable adoption of AI technologies.

The second and third proposals are now open for voting, and Fetch.ai encourages all FET token holders to participate and support the merger that will shape the future of AI technology.