Ocean Protocol

2024

SingularityNET

Artificial Superintelligence Alliance

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 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
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The industry is now looking ahead to the July 1 commencement of the Artificial SuperIntelligence Alliance (ASI)&nbsp;<a href="https://u.today/cardano-linked-singularitynet-announces-ai-partnership-with-fetchai-details" rel="noopener noreferrer nofollow">merger</a> between Fetch.ai (FET), SingularityNET (AGIX) and Ocean Protocol (OCEAN). In a bid to grant clarity to the community, Humayun Sheikh, the founder of Fetch.ai, has come out to&nbsp;<a href="https://x.com/HMsheikh4/status/1806402352120807831" rel="noopener noreferrer nofollow">clear the air</a> regarding the role of the Coinbase exchange in the process.
In an unusual move, Coinbase has come to disclose that it does not plan to support the tripartite token merger. Responding to this, Humayun noted that this will not be an issue, as centralized exchanges (CEXes) do not need to either list or relist FET. This, he noted, is because FET is already listed on these platforms.
<blockquote>
 <a href="https://twitter.com/search?q=%24fet&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$fet</a> is ASI. <a href="https://twitter.com/search?q=%24ocean&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ocean</a> and <a href="https://twitter.com/search?q=%24agix&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$agix</a> are merging into <a href="https://twitter.com/search?q=%24fet&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$fet</a>. CEXs don’t need to delist or relist <a href="https://twitter.com/search?q=%24fet&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$fet</a> it is there already. If you hold <a href="https://twitter.com/search?q=%24fet&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$fet</a> do nothing. We are working hard to resolve any issues please bear with us. Timeline has not changed. <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@coinbase</a> has only announced that the swap will…— Humayun (@HMsheikh4) <a href="https://twitter.com/HMsheikh4/status/1806402352120807831?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 27, 2024</a>
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Per the arrangement of the merger, the duo of AGIX and OCEAN will first be&nbsp;<a href="https://u.today/fetch-ai-fet-and-singularitynet-agix-merger-finally-coming-together" rel="noopener noreferrer nofollow">integrated into FET</a> at a predefined ratio unveiled earlier. After this, FET will now metamorphose into an ASI token. To the Fetch.ai founder, the team has opened a dialogue with Coinbase and hopes to get some resolutions soon.
He pointed the community to the fact that, though&nbsp;<a href="https://u.today/coinbase-halts-trading-of-two-crypto-tokens-heres-why" rel="noopener noreferrer nofollow">Coinbase</a> said its main exchange will not support the alliance, he noted that the trading platform has also confirmed that swaps from one of the tokens in the alliance to another will take place via its custodial wallets. Humayun noted that different trading platforms have their unique processes to support the ASI Alliance.
Ultimately, Humayun noted that many exchanges are supporting the merger, and the process will continue as planned. The respective tokens are undergoing intense selling pressure at the moment, considering the uncertainty in the ecosystem.
At the time of writing, FET is down by 10.42% in 24 hours to $1.45, AGIX is down by 9.14% to $0.6118 and OCEAN has plunged by more than 9% to $0.6092.

Fetch.ai Founder Breaks Silence on Coinbase ASI Merger Rejection

U_Today

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