SingularityNET unveils dates for ERC-20 token swap amid merger with AI cryptos

SingularityNET
says
over
200,000
token
ERC-20
token
holders
could
swap
their
AGIX,
FET,
and
OCEAN
tokens
for
ASI.

As
part
of
the
broader
merger
with

Fetch.ai
and

Ocean
Protocol,
blockchain
project

SingularityNET
has
unveiled
a
set
of
dates,
when
holders
AGIX,
FET,
and
OCEAN
could
swap
their
coins
for
Artificial
Superintelligence
Alliance
(ASI),
a
new
token
under
the
combined
brand.

According
to
a

blog
post
on
Jun.
3,
all
three
tokens
would
be
available
for
swaps
at
different
ratios:

• FET
  tokens
  migrate
  to
  ASI
  at
  a
  conversion
  rate
  of
  1:1.
• AGIX
  tokens
  migrate
  to
  ASI
  at
  a
  conversion
  rate
  of
  1:0.433350.
• OCEAN
  tokens
  migrate
  to
  ASI
  at
  a
  conversion
  rate
  of
  1:0.433226.

As
per
the
announcement,
FET
holders
could
swap
their
tokens
for
ASI
starting
from
Jun.
11,
while
AGIX
and
OCEAN
holders
could
do
so
on
Jun.
13.
SingularityNET
is
yet
to
explain
the
swapping
process,
promising
to
release
“step-by-step
guides”
in
the
coming
days,
with
further
information
on
the
migration
process
for
AGIX
holders
on
Cardano
also
expected
soon.

The
merger,
first

reported
by
crypto.news
in
mid-March,
is
anticipated
to
value
the
combined
entity
at
approximately
$7.5
billion.
The
new
alliance
will
be
governed
by
a
“Superintelligence
Collective,”
led
by
SingularityNET
founder
Ben
Goertzel.
Humayun
Sheikh,
CEO
of
Fetch.ai,
will
serve
as
chairman
in
this
innovative
collaboration.