The ASI Token Merger: A Comprehensive Guide

The Artificial Superintelligence Alliance (ASI) token merger is an ambitious and significant event in the decentralized AI space. It involves the consolidation of three major tokens: SingularityNET’s AGIX, Fetch.ai’s FET, and Ocean Protocol’s OCEAN. This merger will occur in two phases starting on July 1, 2024. This guide aims to help you navigate this transition smoothly and understand its broader implications.

Unified AI Ecosystem – Phase I

The highly anticipated merger between Fetch.ai, Ocean Protocol, and SingularityNET aims to create a powerful, unified AI ecosystem under the new ASI ticker. This unified network aspires to become a leading force in decentralized artificial intelligence.

Key Dates and Action Items

As a holder of FET, AGIX, or OCEAN tokens, it’s crucial to understand the key aspects of this token merger. Here’s a breakdown of important dates and actions:

• July 1, 2024:
  • Migration Opens: Conversion contracts for AGIX and OCEAN holders to convert their tokens to FET will be available.
  • Deposits and Withdrawals: AGIX and OCEAN deposits and withdrawals will be halted on exchanges in preparation for the migration process.
  • Token Delisting: AGIX and OCEAN tokens will be delisted from exchanges.
  • Branding Changes: Project branding will transition to Artificial Superintelligence Alliance across third-party platforms.

Phase I Overview

Phase 1 of the ASI migration focuses on merging the three tokens on the Ethereum Blockchain. Holders on other chains wishing to participate in the token merger during Phase 1 will need to bridge from their respective chains. Users preferring to wait for support on other chains like Cardano or Polygon can opt to wait for Phase 2.

Key Components

• Rebranding: The project will be rebranded as the Artificial Superintelligence Alliance across major platforms.
• Token Merge: AGIX and OCEAN will temporarily merge into FET under the Artificial Superintelligence Alliance banner.
• FET Trading: FET markets will remain open under the FET ticker without interruption.

Detailed Timeline

• July 1, 2024:
  • Project name and logos updated.
  • Deposits and withdrawals for AGIX and OCEAN will close in preparation for migration.
  • FET deposits, withdrawals, and trading will continue as usual.
  • Migration platform for AGIX and OCEAN to FET opens on the SingularityDAO dApp.
  • AGIX and OCEAN will begin to be delisted from exchanges.
  • Spot and perpetual trading will continue under the FET ticker.

For token holders with funds on centralized exchanges like Binance, no action is required. Your OCEAN and AGIX tokens will automatically convert to FET at the appropriate ratio on July 1st, followed by a smooth transition to ASI in mid-July. Individuals holding their funds in self-custody across the Ethereum mainnet will receive detailed guides and tutorials to facilitate a hassle-free transition.

Phase II Overview

Phase 2 will focus on community onboarding, specifically for those who have opted to self-custody their funds. The ASI token will be deployed across multiple chains, and Fetch.ai’s network will upgrade to the ASI network.

Key Actions

• Community Onboarding: Phase 2 will prioritize onboarding community members who have opted for self-custody.
• ASI Deployment: The ASI token will be deployed across multiple chains.
• Network Upgrades: Fetch.ai’s network will upgrade to the ASI network.
• New Migration Contracts: Introduced for conversion from FET, AGIX, and OCEAN to ASI.
• EVM and Bridges: Ethereum Virtual Machine and other bridges will open to facilitate ASI token transfers.
• Exchange Migration: Exchanges will begin migrating spot markets from FET to ASI.

Important Notes

If your funds are on centralized exchanges like Binance, no action is required.

Scam Warning

During this transition period, be vigilant against potential scams. Malicious actors may attempt impersonation, spoofing, and social engineering tactics. Trust only official sources of information, such as the official ASI, Fetch.ai, Ocean Protocol, and SingularityNET websites.

Your Token Migration Journey

The token merger will impact your existing tokens. Here’s what you need to know:

• Exchange-Held Tokens: These tokens will be automatically converted to ASI.
• Conversion Rates:
  • AGIX tokens will migrate to FET at a conversion rate of 1 AGIX to 0.433350 ASI.
  • OCEAN tokens will migrate to FET at a conversion rate of 1 OCEAN to 0.433226 ASI.

We have received inquiries from numerous exchanges expressing their support for the upcoming token merger. While we appreciate this overwhelming interest, it’s important to mention that we cannot guarantee participation from absolutely every exchange. Our team is diligently working to facilitate widespread support, prioritizing a seamless transition for all token holders.

ASI Team

There is no immediate urgency to convert your assets during this initial phase. Our current focus lies in the strategic onboarding of supporting platforms, ensuring robust infrastructure is in place before proceeding further.

Supported Wallets and Conversion Processes

The new ASI token merger will be compatible with all major software wallets (e.g., MetaMask, Trust Wallet) and hardware wallets (e.g., Ledger, Trezor). For manual conversion (on-chain, self-custody):

During Phase I, the assets will be consolidated across the Ethereum Network with future plans to significantly increase interoperability with other ecosystems such as BNB Chain and Cardano active in Phase 2.

1. Connect your existing wallet to the official conversion portal hosted on the SingularityDAO dApp.
2. Follow the on-screen instructions to convert your tokens. Example images have been attached to illustrate the process. The first picture depicts the contract approval process. The second picture just below demonstrates the migration confirmation. The final step would be to confirm the transaction through the wallet. Holders working with AGIX, OCEAN or FET for the first time might have to add the token contract to the wallet to ensure balances are properly displayed. A guide on that can be found here. The SingularityDAO conversion portal makes this easy by incorporating an “Add to Wallet” feature as part of the migration interface.
3. Verify the conversion using a block explorer like Etherscan. If you’re holding FET for the first time on a wallet such as Metamask you may need to add FET as a custom token to ensure that it’s properly displayed in the wallet.

Important Reminders from the ASI Team

The conversion window will remain open for years, so there’s no immediate pressure to convert. Dedicated conversion smart contracts are the only official tools that community members will need to rely on. Expect standard transaction fees, but no additional conversion charges. At no point during the conversion process will you need to input private information including your seed phrase.

For native FET holders, it’s important to note that staked tokens will be automatically migrated during Phase 2. Staking rewards will continue uninterrupted. Liquidity providers will need to manually withdraw their funds and re-allocate them to updated pools for optimal efficiency. More details will be provided.

The Migration from FET to ASI and the Network Upgrade – Phase II

The final step of the merger involves the migration from the FET token ticker to ASI. During this step, new migration contracts will become available for any AGIX and OCEAN tokens yet to be migrated to FET. Migration contracts will also be deployed for EVM-based FET. FET Mainnet Tokens will be automatically converted to ASI as the Fetch.ai mainnet completes its scheduled upgrade.

Specific Migration Ratios

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

Network Upgrade Process

A crucial component of this token migration is the network upgrade, which involves enhancements to the underlying blockchain infrastructure. This upgrade ensures improved performance, security, and scalability for the ASI network. The network engineers and validators will execute a series of precise steps to carry out this upgrade:

1. Code Deployment: Engineers will deploy the new codebase to all nodes in the network, incorporating the latest improvements and security patches.
2. Smart Contract Migration: Existing smart contracts will be migrated to the new network, with necessary updates to ensure compatibility and functionality.
3. Node Synchronization: All network nodes will be synchronized to ensure they operate on the same updated protocol version.
4. Testing and Validation: Extensive testing will be conducted on a testnet before deploying changes to the mainnet to identify and resolve any issues.
5. Final Rollout: Once all components are thoroughly tested, the final rollout will occur, and the network will officially transition to the upgraded state.

During the network upgrade, there may be potential network downtime and temporary disruptions on exchanges as they update their markets. It’s important to note that this upgrade is being executed by experienced professionals who have meticulously planned and tested each aspect to ensure a smooth transition. Rest assured, every component of the network upgrade has undergone rigorous testing to minimize any impact on users and maintain the integrity of the network.

Stay Informed and Engaged

Staying updated throughout the process is vital. Here are your primary resources:

• Official Website: superintelligence.io
• Social Media Channels: Follow Fetch.ai, Ocean Protocol, SingularityNET, and the Artificial Superintelligence Alliance across X (formerly Twitter).
• AMAs and Community Calls: Participate in scheduled events for real-time information.

Security Alert: Beware of Scams!

Be aware of potential scams during this transition period. Malicious actors may attempt impersonation, spoofing, and social engineering tactics. Trust only official sources of information as outlined above. The ASI teams are committed to combating these risks by establishing credible communication channels and conducting extensive information campaigns with strict moderation.

By understanding these key aspects, you can navigate the ASI token merger with confidence and make informed decisions. Stay updated, participate in discussions, and contribute to a smooth and successful migration to the ASI mainnet. This collaborative effort will pave the way for a more robust and innovative future for decentralized AI.

Conclusion

The ASI token merger signifies a significant step forward for decentralized AI. This collaboration strengthens the ecosystem, making it more resilient and competitive against big tech players. Additionally, expect future advancements in performance and use cases for ASI.

The journey towards a unified AI ecosystem under the ASI banner is a landmark event. By staying informed and engaged, you can ensure a seamless transition and contribute to the next wave of innovation in decentralized AI.