Decoding Fusion FET, AGIX, OCEAN: What Lies Ahead for Crypto Holders?

The historic merger between Fetch.ai, Ocean Protocol, and SingularityNET to form the “Superintelligence Alliance” comes with a massive redistribution of tokens. Discover the conversion ratios to the new ASI crypto and what this means for token holders.

Token Redistribution Modalities

The superintelligence alliance, arising from the merger of Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN), has unveiled the distribution key for ASI tokens. Indeed, this distribution is as follows:

• 1 FET = 1 ASI,
• 1 OCEAN = 0.433226 ASI, and
• 1 AGIX = 0.433350 ASI.

A snapshot taken on March 25th served as the basis for determining this allocation, based on the average price over the previous 15 days. Thus, the total emission will reach 2.631 billion ASI tokens, including 1.15 billion FET automatically renamed as ASI. Additionally, the remaining 1.48 billion tokens will be distributed as follows: 867 million for AGIX holders and 611 million for OCEAN holders.

The merger and token exchange are subject to the approval of the respective communities of each project. They will need to vote on governance proposals starting April 2nd. In case of a favorable vote, the process of converting FET, AGIX, and OCEAN tokens to ASI cryptocurrency will begin.

Practical Implications for Holders

FET holders on exchanges will see their assets automatically renamed to ASI, with no action required on their part. Those holding FET offline or in a hardware wallet will be able to use a dedicated exchange mechanism to obtain ASI at a 1-to-1 rate.

Similarly, OCEAN and AGIX tokens held on exchange platforms will be automatically converted to ASI. Offline or wallet holders can continue to hold them as is or exchange them for ASI through the planned mechanism, with no time limit. Since exchange rates are fixed, there is no urgency.

Although this massive token redistribution marks a crucial milestone, the Fetch.ai, Ocean Protocol, and SingularityNET foundations will maintain their legal and operational independence. Each foundation remains free to do as it pleases and to promote the values and adoption of decentralized AI.

More news will be published as the project evolves. For now, the website and token exchange are not yet online.