Artificial Superintelligence Alliance Merger Delay: What You Need to Know
If you’ve been eagerly awaiting the merger of Fetch.AI (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) into the Artificial Superintelligence Alliance (ASI) Alliance, you may have to wait a bit longer. The highly anticipated merger has been delayed, shifting the timeline for renaming the FET token to ASI and the token merger itself. Here’s what you need to know about this delay:
Reasons Behind the ASI Merger Delay
The delay was officially announced in a statement on June 11, citing logistical and technical challenges as the main reasons for pushing back the merger to July 15, 2024. Here are some detailed reasons behind the ASI merger delay:
- The preparation phase involves managing complex integrations and coordinating with exchanges, validators, and other ecosystem collaborators.
- This meticulous planning and execution are necessary to ensure that all components align seamlessly.
- ASI sees the delay as a strategic decision to uphold the standards of accuracy and efficiency in the merger process.
- Humayun Sheikh, CEO of Fetch.ai and chairman of the Artificial Superintelligence Alliance, emphasized that the delay will not hinder progress toward creating a decentralized superintelligence network.
- Ben Goertzel, founder and CEO of SingularityNET Foundation and Artificial Superintelligence Alliance, also expressed his belief that finalizing the merger on July 15 will be a significant milestone.
Future Milestones and Token Details
Despite the delay, FET, AGIX, and OCEAN tokens continue to trade independently on exchanges. Here’s what you need to know about future milestones and token details:
- The token merger remains firmly on track, with no further delays anticipated.
- Once third-party integrations are complete, the ASI token will be launched, and the individual tokens will merge into one token.
- The merger plan, announced in late March, aims to accelerate the advancement of decentralized Artificial General Intelligence (AGI).
- Token holders of FET, AGIX, and OCEAN can swap their tokens for ASI at specific conversion rates.
Market Impact and Response
Following the announcement of the delay, prices of FET, AGIX, and OCEAN experienced a decline in the last 24 hours. Despite this temporary market impact, the delay is expected to benefit all stakeholders. The team is actively working with centralized exchanges to finalize the remaining steps, appreciating the continued support and patience of the community and stakeholders as they navigate these final logistical steps
Hot Take: What Does the Delay Mean for You?
As a crypto enthusiast eagerly awaiting the ASI merger, the delay may come as disappointing news. However, it’s essential to remember that strategic decisions like this are made to ensure the integrity and efficiency of the process. By prioritizing accuracy and meticulous planning, the Artificial Superintelligence Alliance aims to deliver a seamless merger that will benefit all stakeholders in the long run.
By
By
By