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Fetch.ai, SingularityNET and Ocean Protocol reschedule token merger for July 15th
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The ASI Alliance, a new alliance formed by Fetch.ai, SingularityNET (SNET), and Ocean Protocol, has announced a new date for the planned token merger. The event, initially set for June 13this now scheduled for July 15, according to a press release shared by the team.
In early March, Fetch.ai, SingularityNET, and Ocean Protocol launched a collaborative effort to create an ethical, decentralized AI ecosystem. As part of this initiative, the respective tokens, including FET, AGIX and OCEAN, will be merged into a single token called Artificial Super Intelligence (ASI) token.
Merger preparation involves complex integrations and coordination with various third-party entities, which are essential for a smooth transition. According to the team, the rescheduling is to ensure the smooth management of technical and logistical requirements involving exchanges, validators and ecosystem partners.
“Although the finalization of the ASI token merger is now expected in July due to necessary adjustments by our partners, the commitment and vision behind this alliance remains as strong as ever,” said Humayun Sheikh, CEO of Fetch.ai and president of Artificial Superintelligence. Alliance.
“This temporary delay does not impact the substantial progress we have made toward 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,” she added.
As noted, FET, AGIX and OCEAN continue to trade independently on the exchanges. Once the technical integrations with third-party platforms are finalized, the ASI token will be launched. At that point, FET, AGIX and OCEAN will stop operating independently and merge into ASI.
Additionally, token holders have been assured that no immediate action will be required on their part and that the merger is expected to proceed without further delay, the team noted. More information on token contracts, migration procedures and audits will be shared this week.
Bruce Pon, founder and CEO of Ocean Protocol and board director of the Artificial Superintelligence Alliance Council, expressed gratitude for the community’s patience and wait for the unified ASI token.
“We appreciate the community’s patience and look forward to a combined $ASI token that is supported by all partners, exchanges and token holders,” Pon said.
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