FET, OCEAN, and AGIX to Merge: Voting to Begin in Early April

• The ASI token will have a supply of $2.63 billion.
• The token will support Cosmos, Ethereum, Cardano, BNB, and Polygon.
• Voting dates for FET are between April 2 and 13, and for AGIX, between April 3 and 16.

Fetch.ai (FET), Ocean Protocol (OCEAN), and SingularityNET (AGIX) have revealed discussions about merging to form the Artificial Superintelligence (ASI) Alliance, a decentralized AI platform. This move signals a significant step towards creating a unified open-source AI infrastructure.

The proposed ASI Alliance, led by SingularityNET CEO, Ben Goertzel , aims to leverage the unique capabilities of each protocol. Fetch.ai brings advanced autonomous AI agents; Ocean Protocol offers data sharing and monetization solutions; and SingularityNET contributes research and development expertise in AI integration.

The ASI token, pegged initially at $2.82 with a supply of 2.63 billion tokens, is poised to become a benchmark for the new platform’s value. The voting dates for FET stand between April 2 and April 13, while for AGIX, they are between April 3 and April 16.

Out of the $2.63 billion supply, 1,152,997,575 will go to FET, 866,700,367 to AGIX, and 610,849,199 to OCEAN. The ASI token will support Cosmos (ATOM), Ethereum (ETH), Cardano (ADA), BNB (BNB), and Polygon (MATIC). 

Further, the token swap ratios have been outlined as well: FET tokens will be exchanged at a 1:1 ratio, while AGIX and OCEAN tokens will be swapped at a 1:0.43 ratio. This merger also entails minting an additional 1.48 billion tokens for AGIX and OCEAN holders based on the swap ratio.

The impact on Ocean Protocol’s data farming incentives is substantial. The governance proposal initiated a pause in the data farming program, pending the outcome of the community vote. If approved, this merger could signify the end of passive and volume data farming within Ocean Protocol’s ecosystem.

Notably, veOCEAN holders will continue to receive rewards post-merger, albeit with adjustments. Despite relinquishing control over the OCEAN token, veOCEAN holders are entitled to rewards, ensuring ongoing participation.

While FET’s role as a reserve currency may influence price movements, the fixed conversion ratio of 1:0.43 between FET and AGIX/OCEAN suggests minimal divergence, encouraging arbitrage opportunities.