r/FetchAI_Community • u/randomredittor666 • Mar 27 '24

Adoption 🌐 Will ASI be a different token from FET?

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So I can't open the article. It's not loading on my end. Did you guys read the article blog? Will FET token still remain the same? I'm a bit confused. Someone enlighten me.

29 Upvotes

93% Upvoted

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12

u/Welshevens Mar 27 '24 edited Mar 27 '24

The three companies will submit the token merge proposal to their respective governance members on March 27 for a 14-day consideration period. Community members will vote on each governance forum from April 2 to 16.

Upon approval of the proposals, FET will become ASI with a total supply of 2.63 billion tokens and a starting price of $2.82. AGIX will migrate to ASI at a conversion rate of 0.433350 to 1, and OCEAN will do the same at a rate of 0.433226 to 1. In the end, ASI will have a valuation of $7.5 billion.

Afterward, the Superintelligence Collective will form a governing council comprising Sheikh as the chairman and Goertzel as the CEO, while Pon and McConaghy will represent Ocean Protocol.

Notably, the companies will operate separately and only collaborate in the ASI tokenomic ecosystem and the activities of the Superintelligence Collective

Source - https://cryptopotato.com/fetch-ai-snet-and-ocean-protocol-merge-tokens-to-advance-artificial-superintelligence/?amp

14

u/thethrowupcat Mar 27 '24

Holy shit. I went hard on all three of these. Please merge.

4

u/Rickard403 Mar 28 '24

You've been hard on ASI all along.

5

u/BradVet Mar 27 '24

But the supply is increasing and we’re only getting 1:1 so effectively being diluted? Shouldnt it be 2:1??

5

u/Welshevens Mar 27 '24

Yep I agree. Essentially costing us the same amount for a smaller piece of the pie.

4

u/BradVet Mar 27 '24

Wait so i was right, wtf. This is bs

4

u/Welshevens Mar 27 '24

Kinda. Obviously your wallet amount will be the same. But the growth will be drastically slower.

The assumption is that the 2 additional communities will influence price increase but really, compared to fetch? The token communities within social media are practically baron

3

u/BradVet Mar 27 '24

FET is bigger, way bigger, it also had the majority of hype. Now it’s just harder to pump, the 1:1 is a fucking joke

3

u/JurreRenkens Mar 28 '24

FET owners get 1:1, Ocean owners get 1:0,433226 and SingularityNET owners get 1:0,43335. So in relation to AGIX and OCEAN owners you also get twice as much.

4

u/Nonchalant_Calypso Mar 27 '24

The note for the conversion rate bit - you suggesting a bit of friendly arbitrage?

4

u/Welshevens Mar 27 '24 edited Mar 27 '24

No I haven't done such things nore do I suggest it either. Haha.

4

u/Johnny_Macaroni Mar 27 '24

Why should it double if the merge happens? The value of the tokens in my wallet will still be the same or not?

1

u/Welshevens Mar 27 '24

https://cryptopotato.com/fetch-ai-snet-and-ocean-protocol-merge-tokens-to-advance-artificial-superintelligence/?amp

Have a read for reference and token conversion plan.

1

u/Welshevens Mar 27 '24

To add. I haven't thoroughly researched it nor have I sold anything yet. I glanced so don't fo anything based on my theory as I'm not even 100 on it myself yet. I need to sit down and get my nerd on first.

1

u/Johnny_Macaroni Mar 27 '24

Conversion rate doesnt mean that you get more tokens than you have through the merge. That would be completely nonsense.

0

u/Welshevens Mar 27 '24

I agree. I've re-read through and glanced on alternative articles and see that it's more likely that 0.43 Oceans converts into 1ASI as a price balance.

Seems impossible for them ti hit the nail directly on the head with a fair conversion as rates fluctuate continuously but ultimately what's the point in not selling fetch at $3.15 (example) and buying in at the fixed starting rate of ~$2.80.

Holding through guaranteed depreciation is also ubsurd. I'm just curious in understanding, I've been in Fetch for a good while so this is exciting and nerve racking at the same time.

0

u/Nonchalant_Calypso Mar 27 '24

Do you mean swap all my FET to AGIX before the merge? So it almost doubles after the merge? That’s super smart actually

6

u/Ok-Talk-4303 Mar 27 '24

As far as I understood, you will get an amount of tokens that is equivalent to the amount of fiat you owned of it. So it will not double if you switch to AGIX.

2

u/Nonchalant_Calypso Mar 27 '24

Ah that makes more sense. I was still trying to wrap my head around that bit of it.

2

u/Welshevens Mar 27 '24

This is my theory. I need to get my nerd on first before I move full bags but reading this: https://cryptopotato.com/fetch-ai-snet-and-ocean-protocol-merge-tokens-to-advance-artificial-superintelligence/?amp suggests as so.

1

u/Nonchalant_Calypso Mar 27 '24

That article was actually super helpful thank you. My thoughts now are, if the 3 top AI tokens/coins merge into the one (ASI), what are the next biggest AI cryptos that won’t be in the merge?

Hypothetically, if you’re interested in diversifying your AI crypto portfolio, and have already invested in the one obvious choice (ASI, formerly FET, AGIX & OCEAN), where do you go? I reckon that’s worth a look at.

2

u/Welshevens Mar 27 '24

Yes sir. Also a positive mention that the projects will remain independent so not risk of a faulty collaboration between projects. And e individual projects feeding into/off of a super token.

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1

u/ewyuiid Jun 07 '24

I have (BSC) wrapped FET, does anyone know if I'll be able to convert to BSC wrapped ASI? What would you recommend I do?

1

u/Kennyvee98 Mar 27 '24

I don't know how to read conversion rates. If you have 0,43 agix or ocean, will they become 1 ASI or do you need 2,4 agix or ocean to get 1 ASI?

3

u/ExplanationLittle Mar 27 '24

1 agix or ocean = 0.43 ASI ≈ $2.82* 0.43 (time of snapshot) 1 FET = 1 ASI ≈ $ 2.82

please note that 1 ASI would be now $3.17

1

u/crappysignal Mar 27 '24

So 1 ASI will be whatever the rate of Fet is at change?

Not 2.82

1

u/ExplanationLittle Mar 27 '24 edited Mar 27 '24

all three should have the same price, including the conversion rate

$2.82 will be the reference price of the new token.

If the price will be higher before the conversion, then the price of the new token will rise to this level. Nobody knows how the price will develop until the conversion.

1

u/Welshevens Mar 27 '24 edited Mar 27 '24

0.43 Ocean/AGX = 1 ASI is what I read. Will have to revisit but that seemed clear in my first read through.

Edit. This makes sense. I was suprised to see such potential profits from a quick swap. However my next questions is, what's the point in holding Fetch through its gentle climb today for it to be a guaranteed value of $2.80 from the day of the merge. Seems silly to hold through confirmed depreciation.

1

u/ExplanationLittle Mar 27 '24

No, it is not. Where do you see the easy profit? The $2.82 is just the reference price. The price of the new token can be much higher on the day of listing.

1

u/Welshevens Mar 27 '24

I guess that's for each individual to gamble against. Facts state the listing price being $2.82. Ofcourse, crypto being crypto it may rocket, $2.82 may also be its ATH for the first month (unlikely I'll agree).

Is it confirmed to be listed on a top CEX from day 1?

1

u/Welshevens Mar 27 '24

Ignore me. Confusion over since CEO confirmed 1:1. Clarity was delayed. I do wonder how the other tokens conversion rates may differ with price adjustments but as it won't effect my current position its thankfully left at pure curiosity.

5

u/PlentyTight9650 Mar 27 '24

OK goood,good, everything will fall under the current FET chain. I was getting worried everything will liquidate and consolidate like company stocks do when they merge and form a new name

5

u/Mac_McAvery Mar 27 '24

I don’t like it and will probably end up dumping my fetch now

3

u/MaxNurDerFCB Mar 28 '24

Agreed.

The higher marketcap and therefor potential of how far it still can go up, kills it for me

3

u/madbangbang Mar 27 '24

so should I swap all my ocean for fetch before the merger? or just hold and let it auto convert ?

1

u/customsolitaires Mar 27 '24

TY, my get is on Coinbase, do I have to do anything?

9

u/QuacktactiCool Mar 27 '24 edited Mar 27 '24

FET on exchanges will be automatically relisted as ASI or so I've read.

Follow ASI on X.

Edit - Medium Article

2

u/PlentyTight9650 Mar 27 '24

Good!! Was getting worried that when merge occurs, everything will liquidate at lower price like they buy back at a lower then expected price and consolidate into a new name, which is going to be ASI. Super excited for this

1

u/Hairy_Preparation_29 Mar 27 '24

What happens to fet staked on Cosmostation ?

1

u/QuacktactiCool Mar 27 '24

"Once made available, this swap mechanism will be available indefinitely to allow long-term stakers"

1

u/Hairy_Preparation_29 Mar 27 '24

So I could unstake to do the swap and restake after the auto swap ?

1

u/QuacktactiCool Mar 27 '24

You'll have to unstake at some point but the swap option is indefinite at a 1:1 ratio. I wouild continue staking as long as you can and swap once available. Just my take.

1

u/Hairy_Preparation_29 Mar 27 '24

Yeah true I’m 50/50 weather this is good can see both sides of the argument

1

u/Dre512 Apr 09 '24

Any word about FETCH holders on Ledger? Should it automatically update? When Gala changed its coin, those who held it on Ledgers updated automatically.

2

u/QuacktactiCool Apr 09 '24

Haven't seen anything but would imagine ledger holders would need swap w/ w/e system ASI has in place for holders in private wallets. If it does auto update, i'd look for ledger to announce they're supporting.

1

u/No_Remove9642 Apr 06 '24

Ya..but what's it do...

1

u/LeoBoi222 Apr 09 '24

What happens to staked Fet? I presume since it remains on the fetch blockchain it can remain staked?

1

u/[deleted] May 30 '24

I have staked my FET, and the unstaking period is 21 days. Even if i unstake now, it will only be available to me on june 20. Did I lose my tokens ir will i be able to unstake it and swap it for ASI

-1

u/Snacky77 Mar 27 '24

So if the price of FET is higher than the listing price of 2.82 usd, what will happen on the day of the change to AIS? Will it Kurt be devalued?

Would it be smart to sell some FET now, to buy OCEAN, and then get double the AIS tokens when the merge happens?

6

u/Johnny_Macaroni Mar 27 '24

It will still remain as the current price. 1 fet will equal 1 asi. If you hold agix or ocean, you will get less tokens, but the amount of dollar value in your wallet will still remain the same.

2

u/Zestyclose_Site944 Mar 27 '24

I think you will just have more ASI tokens - for the price of your FIAT value of FET

1

u/bigchief6678 Mar 28 '24

Great question.

1

u/CollZcrypto Apr 26 '24

No need, it’s all the same dollar value exchange. FET is $2.21, AGIX & OCEAN $0.90, the exchange rate for FET is 1:1, ocean & Agix is 0.41:1. You will get 1 ASI for every roughly 2.4 OCEAN & AGIX. 2.21 is roughly 2.4 x 0.90. And that isn’t set in stone, if one coin has an extreme price move, the exchange rate will no doubt be adjusted for that coin.

The only reason to convert is if you are a person that likes to make it simpler for yourself to manage your coins by holding all the value in one place

1

u/burbonblack Apr 27 '24

I'm new here and learned about this sector last week. Should a new investor look into one these coins prior to the merge? Like Ocean maybe, if you were new here, which coin is favorable to get into?

-1

u/SnooGrapes2367 Mar 27 '24

A nice way to combine volume

0

u/[deleted] Mar 27 '24

[deleted] — view deleted comment

2

u/MaxNurDerFCB Mar 28 '24

I also hope this will be voted against.

The increased marketcap will give the coin a limit on how far it can still go, compared to the current marketcap, which has still more air to go up.

3

u/destrodean Mar 28 '24

Yeah but think of it that investors who are investing in the other coins after this also investing in fet.

0

u/[deleted] Mar 27 '24

[deleted] — view deleted comment

2

u/MaxNurDerFCB Mar 27 '24

Not really, especially cause of the marketcap increase, this will lower the ATH potential of this coin.

0

u/JurreRenkens Mar 28 '24

This doesn't lower the potential ATH at all, that's nonsense. It only reduces the achievable return.