SingularityNet, Fetch.ai and Ocean Protocol $7.5B Token Merger Up For Community Vote

Main AI protocols, SingularityNet, Fetch.ai, and Ocean Protocol, are set to merge via a group vote, with an estimated worth of $7.5 billion.

The group vote is scheduled for April 2, with separate voting for every protocol and completion anticipated by April 16. The proposed merger would result in a completely diluted market capitalization of $7.6 billion, encompassing 2.631 billion tokens. At the moment, the mixed market cap of the three tokens stands at roughly $5.3 billion.

The groups behind the protocols have outlined the token swap course of. If the merger is permitted, Fetch.ai token holders will be capable to alternate their FET tokens for ASI tokens at a fee of 1:1., whereas SingularityNet and Ocean token holders will obtain roughly 0.433350 ASI per AGIX token and 0.433226 ASI per OCEAN token.

The groups have assured alternate customers that the conversion course of will likely be seamless, with exchanges working to routinely convert FET, AGIX, and OCEAN tokens to ASI tokens. Nevertheless, for these holding tokens in self-custody wallets, a swap mechanism will likely be accessible indefinitely to facilitate the conversion.

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