A community vote is scheduled for April 2 to approve a token merger worth $7.5 billion. The merger involves three artificial intelligence (AI) protocols: SingularityNet, Fetch.ai, and Ocean Protocol. Each protocol will have a separate community vote, with all voting to be completed by April 16. If approved, the AGIX token from SingularityNet, the FET token from Fetch.ai, and the OCEAN token from Ocean Protocol will be replaced by the new ASI token from the Artificial Superintelligence Alliance. The merged token is projected to have a fully diluted market capitalization of $7.6 billion across 2.631 billion tokens. The current combined market cap of the three tokens is approximately $5.3 billion. If the merger is approved, users will be able to swap their FET for ASI at a rate of 1:1, and FET will become the reserve currency of ASI. OCEAN and AGIX holders will also be able to convert their tokens into ASI at a fixed rate. An additional 1.48 billion ASI tokens will be minted, with AGIX holders receiving 867 million ASI tokens and OCEAN tokenholders receiving 611 million ASI tokens. The merger aims to develop decentralized AI protocols based on blockchain technology that cannot be controlled by centralized parties or large stakeholders.
Community vote for $7.5B AI crypto token merger set for April 2