On July 1st, 2024, we began the token merge to unite SingularityNET,
$FET , and @Ocean Protocol into the Artificial Superintelligence Alliance, currently trading under the FET ticker. As the first token merger of this magnitude, this complex undertaking involves many moving parts and requires continuous efforts.
We are excited to announce that the core token merger process (Phase 1) is now complete and we have moved on to post-merger integration (Phase 2). With over 50% of the circulating supply already migrated, including project treasuries and user balances on supporting exchanges, SingularityNET,
Fetch.ai and Ocean Protocol are now consolidated under a single token, the Artificial Superintelligence Alliance ($FET ). We are now positioned to focus on advancing towards beneficial Artificial General Intelligence (AGI) and beyond, with the ultimate mission of achieving decentralized Artificial Superintelligence (ASI).
Concurrent with the Allianceâs primary focus on development and rollout of decentralized AI technology, several post-closure implementation and integration steps will be executed relevant to the merger in the coming period. Over the next few weeks, we will introduce cross-chain bridges and migration solutions to facilitate the transition for our remaining holders on blockchains like Cardano and BNB Chain. These solutions will enable users to migrate to the merged Artificial Superintelligence Alliance token (FET) and secure their positions within the Alliance's ecosystem. Following this, the final step of Phase 2, that of updating the ticker from FET to ASI will be carried out in due time once alignment of all needed third parties has been achieved.
We appreciate the unwavering support of our communities and the instrumental role of our industry partners in making this token merger possible. We look forward to sharing more detailed information as the next stages of the post-closure process unfold, and most of all to unveiling in the coming months more of our ongoing work integrating SingularityNET,
and Ocean software tools toward practical commercial AI functions building in the direction of decentralized AGI and ASI.
