In the latest statement, three AI projects, Fetch.ai, Singularity.NET & Ocean Protocol , planned a merger and launched a new ASI Token .
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The merger is worth 7.5 billion USD
Most recently, as noted by BeInCrypto, the official X page of all three AI projects, Fetch.ai , SingularityNET & Ocean Protocol , simultaneously announced a merger to become a non-AI project. largest concentration today. The new Superintelligence Alliance will Chia the common goal of developing blockchain-based decentralized AI protocols that cannot be controlled by centralized parties or large stakeholders.
There will be 3 votes for the 3 projects mentioned above. The deadline for these votes is expected to end on April 16. So what's special about this merger?
First, these three projects will combine to form an alliance with a combination of knowledge and expertise from all three projects above.
Second, if this alliance is approved by the community, we will see the birth of a new Token called Artificial Superintelligence Allia (ASI). This ASI Token will completely replace the 3 individual Token of the projects on FET, AGIX and OCEAN.
Third, the ASI Token will have a fully diluted market Capital of $7.5 billion calculated on 2.631 billion Token. The current combined market Capital of these 3 Token is approximately 5.3 billion USD.
Fourth, regarding the exchange ratio, although all three of these projects are combined together, it does not mean that they are all converted at a 1:1 ratio. Specifically:
- Only FET Token can be redeemed at a 1:1 ratio with ASI Token.
- An additional 1.48 ASI Token will be minted with 867 million ASI allocated to AGIX holders and 611 million ASI allocated to OCEAN holders. Therefore, the ratio here will be 0.433226 ASI per OCEAN and 0.433350 ASI per AGIX.
Also Read: Top leading exchanges to buy/sell FET, AGIX, OCEAN
