The artificial Superintelligence Alliance (ASI) token merger initiated its initial phase by merging two AI tokens: OCEAN from Ocean Protocol and AGIX from SingularityNET.
Phase one of the $7.5 billion token merger saw the AI tokens merge into Fetch.ai’s FET token, resulting in the widespread delisting of the former tokens on all crypto exchanges.
ASI merger Obstacles
However, not all crypto exchanges favored the merger for their consumers. Coinbase declined to endorse the ASI merger and did not implement a system automatically converting users’ token holdings.
In the interim, FET and OCEAN trading will continue to operate on Coinbase until further notice. Coinbase has disclosed a workaround that users may employ to transfer their holdings into FET manually:
“Once the migration has launched, users will be able to migrate their OCEAN and FET to ASI using a self-custodial wallet, such as Coinbase Wallet. The ASI token merger will be compatible with all major software wallets.”
ASI migration alternative
Through the recently launched migration platform, SingularityDAO, crypto exchanges and data aggregators interested in supporting the migration can do so.
According to the website, AGIX tokens will be converted to FET at 1 AGIX to 0.43335 FET during phase one.
The second segment will involve the migration of FET tokens to ASI and their subsequent launch across multiple blockchains.
Following a three-month decline, the trading value of FET and AGIX tokens increased by over 30% on June 20.
The anticipation of the ASI token merger incited the markets, according to Vlad Balaban, co-founder of GT Protocol, a blockchain-based AI execution protocol.
“The merger with Ocean Protocol, intended to establish the world’s largest decentralized AI ecosystem, is the cause of the over 30% increase.” “This strategic move has sparked investor enthusiasm, as they anticipate substantial advancements and market leadership in AI technology,” he stated.
