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The deliberate merger of Fetch.ai (FET), SingluarityNET (AGIX), and Ocean Protocol (OCEAN) into Synthetic Superintelligence Alliance (ASI) has been postponed to July 15.
In March, the three networks introduced intentions to unify their tokens into the ASI token, with a complete provide of two.63055 billion tokens. The transfer goals to determine ASI because the AI business’s largest open-source, decentralized community and problem main tech corporations’ dominance in AI growth and commercialization.
Reason for delay
In a June 11 assertion to CryptoSlate, the initiatives stated the delay was attributable to a necessity to fulfill their ecosystem companions’ technical necessities.
They additional defined that the rescheduling would guarantee a seamless transition to the brand new ASI community and token, because the preparation for the token merger entails managing complicated integrations and coordinating quite a few parts.
Initially, FET token holders have been set to migrate to ASI by a token migration contract on June 11, with AGIX and OCEAN holders following later. Now, all token holders will merge into the brand new ASI token concurrently on July 15.
Till then, FET, AGIX, and OCEAN tokens will proceed buying and selling independently on exchanges.
Humayun Sheikh, chairman of the Synthetic Superintelligence Alliance and CEO of Fetch.ai, emphasised that the delay doesn’t have an effect on the numerous progress towards making a decentralized superintelligence community. He added:
“Whereas the finalization of the ASI token merger is now scheduled for July on account of needed changes by our companions, the dedication and imaginative and prescient driving this alliance stay stronger than ever…Our groups are actively working with centralized exchanges to finalize the remaining steps.”
Ben Goertzel, CEO of the ASI Alliance, famous that the three-way token merger represents a serious milestone. He anticipates a collection of progressively thrilling developments that may bolster the ecosystem’s progress.
The values of FET, AGIX, and OCEAN tokens declined by a mean of 10% over the past 24 hours. The value drop mirrors broader market developments, with Bitcoin down 5% through the reporting interval to round $66,000, in response to CryptoSlate information.
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