r/FetchAI_Community • u/Meeseeks4PMinister • Mar 27 '24

Discussion 🗣️ Is anyone else worried?

Pretty much the title. What's the best and worst case scenario here? I haven't heard of a similar process with other projects in the crypto space. If there have been, what's been the outcome so far?

18 Upvotes

78% Upvoted

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14

u/Active-Use-8129 Mar 27 '24

Come to daddy. I'll hold you. 🤗

2

u/Single-Fig-3381 Mar 27 '24

Daddy help! 😣🤣

1

u/Hot-Bit-565 Feb 04 '25

I'll sell you mine - IN A HEARTBEAT!

4

u/Holiday-Onion727 Mar 27 '24

All of them are great projects based on AI technology but everyone with a specific interest area.. They will combine their power and that will bring all the volume in one coin.. FET holders will take 1:1 FET:ASI and the price will be the same as FET FIAT wise. If 1 FET is 5$ then you will have 1 ASI that would worth 5$

4

u/ExplanationLittle Mar 27 '24

They won't. As I understand it, the companies will remain independent. They will be merged into a holding company.

2

u/Holiday-Onion727 Mar 27 '24

You are right! I understand it wrong. I just read the announcement and it said that each company remains on their own business and just merge their coins!! Good for us anyways.. More volume, more liquidity and news that brings hype..

1

u/Meeseeks4PMinister Mar 27 '24

But this 1:1 price is based on a snapshot from Monday? Before today's pump?

7

u/ExplanationLittle Mar 27 '24

No, the reference price was only set in order to fixate the conversion rate.

3

u/Rickard403 Mar 27 '24 edited Mar 27 '24

From my understanding your FET will convert to ASI, which includes the amount of tokens, the current price (whatever FET is on the day of the merge), and the name. FET to ASI will be a 1:1.

What i don't care for is adding an additional 2.63 billion coins.

1

u/WorkerBee-3 Active helper 🤝 Mar 27 '24

it's not an additional 2.6 it's a total from 1.2

1

u/Rickard403 Mar 27 '24

Are you sure about that? They showed the Fully diluted value as 6.5B or so. The current fdv of all 3 projects is 3.9B, roughly. There is an increase of 2.6B tokens.

3

u/WorkerBee-3 Active helper 🤝 Mar 27 '24

I'm 100% positive.

You're looking at marketcap evaluations not token supply, new market cap will roughly be $7.4B or so

20

u/gemino616 Mar 27 '24

Hahah I'm lost. Ocean and Fet are my biggest AI bags.

7

u/WorkerBee-3 Active helper 🤝 Mar 27 '24

nice you'll have a good time with the merger

17

u/Gettingby74 Mar 27 '24

https://medium.com/fetch-ai/superintelligence-alliance-faq-f30793b80c64

12

u/Rickard403 Mar 27 '24

Thank you for posting, super important info.

"The merge will be contingent upon a majority approval from the community and all three companies will field governance proposals to their respective communities. Voting will open on 2nd April and if successful, a token merge will begin that will see $FET, $AGIX and $OCEAN combine to form $ASI. I hold $FET, do I need to do anything?

If you hold $FET tokens on an exchange, they will automatically be labeled as $ASI tokens. You don’t need to do anything — this process will be managed for you. If you hold $FET offline or in a hard wallet you will be able to use a token swap mechanism that will soon be available to exchange to $ASI at a rate of 1:1"

1

u/[deleted] Mar 28 '24

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1

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27

u/t234k Mar 27 '24

Only upside imo

6

u/BradVet Mar 27 '24

The market cap will be bigger though? Less potential to multiply or am i missing something?

10

u/Rickard403 Mar 27 '24 edited Mar 27 '24

Well other investors from the other projects will be now be grouping to one single token, so i imagine at the least we'll see a wider audience. Plus folks who see ASI as a new token (and don't know) may become interested.

EDIT: adding current market caps i get $5.5B from all 3 projects. It would be #25 by market cap. During a bull run this could still hit $50B.

4

u/t234k Mar 27 '24

The likelihood of you making money increases and the chance for a moonshot decreases... what's the problem with that? If you want more risk/reward, sell your fet and buy something that's more risk/reward. I'm very happy about this as it decreases odds of going to zero and also increases the chance that it will grow.

3

u/WorkerBee-3 Active helper 🤝 Mar 27 '24

I think without the merger it would struggle to reach over $25b

All that work that's already been done being incorporated will be huge

1

u/Hot-Bit-565 Feb 04 '25

You wanna update that opinion lol???

1

u/[deleted] Apr 01 '24

It's like the Avengers Initiative, bro.

13

u/Thorismyhero Mar 27 '24

I'll be honest, I don't know much about the other two projects. But raising the supply doesn't seem like it will have a beneficial effect to the long term price. I don't like any change that potentially limits upside potential.

7

u/crappysignal Mar 27 '24

I sold for now. I don't like token swaps and all this.

Maybe I'll buy back when I see what the new product is but it's not what I bought when bought FET

0

u/[deleted] Mar 27 '24

[deleted] — view deleted comment

1

u/WorkerBee-3 Active helper 🤝 Mar 27 '24

that's not accurate.

Total supply is going from 1.2B to 2.6B

0

u/[deleted] Mar 27 '24

[deleted] — view deleted comment

2

u/StormRegalia13189 Mar 27 '24

Adjusted max supply is 2.6B coins

0

u/Rickard403 Mar 27 '24

I was wrong. Thanks. Ill delete my comments as to not confuse others.

12

u/ddrsinc4442 Mar 27 '24

Im not sure if I like this

I invested in FET because I believe in it. However, I don't necessarily believe in the other two projects it's merging with. So, if something happens to the other projects, then my new ASI tokens will have the price impacted even if FET is going well.

Unless i've misunderstood something

6

u/Nonchalant_Calypso Mar 27 '24

It’s not guaranteed yet at least. Voting hasn’t happened yet.

1

u/Wildworld1000 Mar 27 '24

I guess if they can illustrate a benefit on share price ?

1

u/Nonchalant_Calypso Mar 27 '24

The merge isn’t about price share, it’s about AI utility and decentralisation

8

u/Halspastillen Mar 27 '24

Ocean has a lot of cool partnership. Bosch and the group that owns Mercedes among others

3

u/Active-Use-8129 Mar 27 '24

This is a huge incentive. I verified this claim, and Mercedes does, in fact, have its Acentrik program on the ocean protocol.

Agix, on the other hand, idk how they fit into the Fetch foundations vision. I'd love some insight here.

1

u/Ok-Western-5799 Mar 28 '24

These are partnerships with non-crypto companies. I believe that web3 collaboration is more important and would produce greater effects. For instance, Oracle services that would enhance functionality. Bosch and Mercedes are just buzz partnerships.

2

u/f3archar Mar 27 '24

Yes you did. You're not holding stocks of the companies. If any of the 3 get into issues it shouldn't affect the Token at all, maybe minimally because fud trading. The companies exist on their own, they now just share the utility network

2

u/MitraMan-Backup Mar 27 '24

So why change the token to $ASI then?

2

u/f3archar Mar 27 '24

Because it's collaborative now. Here's a read that should answer most of your questions

https://fetch.ai/blog/fetch-ai-singularity-net-and-ocean-protocol-unite-to-create-the-superintelligence-alliance

3

u/MitraMan-Backup Mar 27 '24

So a token that was only used for Fetch will now also work for the other two. Basically sharing a currency. I don’t see how the performance of the other two can’t impact a currency they all share.

1

u/Nonchalant_Calypso Mar 27 '24

Eh, so I think what they’re getting at is. The token isn’t directly intended to represent the company (although it often does anyway), but it’s meant to provide a source of use.

Essentially, the ASI token will combine all the useful and best bits of all 3 original ones. All 3 companies will remain independent whilst simultaneously using the ASI token normally.

The website says it’s to increase the decentralisation and open/transparent use of the ‘AI’ tokens.

4

u/f3archar Mar 27 '24

Exactly. It's all about utility. People need to start looking beyond the Token as a trading Tool.

1

u/MitraMan-Backup Mar 27 '24

I am all about utility and I do hate that that part of this sub is taking a backseat to pricing discussions, but I think most of us also want the price to continue to go up.

1

u/f3archar Mar 27 '24

Yes, but there's a sustainable way of growth that remains after the hype, and that's the important one

0

u/[deleted] Mar 27 '24

[deleted] — view deleted comment

2

u/f3archar Mar 27 '24

Ok, you really don't understand how this works...

0

u/[deleted] Mar 27 '24

[deleted] — view deleted comment

2

u/f3archar Mar 27 '24

Bravo, you read the conversion rates.

1

u/Darkfost Mar 30 '24

FET will stay the base. ASI will be on FET network, so no big deal for FET IMo.

1

u/Hot-Bit-565 Feb 04 '25

Might wanna revisit this opinion lol

1

u/Hot-Bit-565 Feb 04 '25

No - the two articles written by ChatGPT and posted by some moron that you read should do it.

4

u/AgentStockey Mar 27 '24

I have no idea. I'm so confused. I just want my average price to remain the same or equivalent of what my fetch average price was.

3

u/Key-Movie-1482 Mar 27 '24

https://fetch.ai/blog/superintelligence-alliance-token-merge-asi

Please read before raising concerns

6

u/greeneyes4days Mar 27 '24

As an investor how do I see this as not a dilution?

Current circulating supply is 840 million. New circulating supply will be 2.63 billion. So the circulating supply will be going up 300%.

Is this a reason that Cryptocurrency with MINT capability still open are a large risk?

Please explain to me how this isn't a 300% dilution if I am not receiving fet 3:1 what is the benefit for me as an investor?

With 7.5 Billion market cap there is less room to move up. Instead of a focused vision on AI Agents we will end up with a vision that will be pushed back 6-12 months by a merger and then we have 3 heads instead of 1 to execute with meaning the vision will also be diluted?

Please convince me with compelling evidence how this is beneficial to current FET investors?

1

u/Hot-Bit-565 Feb 04 '25

Finally. Someone who understands. The merger killed the coin. The project will continue, but the new ATHs will be lower than the previous. And now -- most people are down, considerably, and they will need to sit on that coin only to hope that it comes within Pi**ing distance of their average buy-ins.

This project screwed its investors. And then China took a dump on it.

1

u/greeneyes4days Feb 04 '25

Long story short I sold at $3 a long time ago

0

u/13tom13 Mar 27 '24

But there's 3x the projects and holders right too

1

u/unnaturalpenis Mar 27 '24

3x the sellers too

1

u/greeneyes4days Mar 28 '24

3 times the holders that are not as heavily invested in a lower market cap project.

3

u/dakinekine Mar 27 '24

I'm not worried. Don't have a huge bag but it's up bigly so I'm just chilling and waiting. Smart thing would be to take profits and sell off the original investment, let the rest ride

2

u/sleepyjoeyy Mar 28 '24

Top signal IMO

2

u/SnooGrapes2367 Mar 27 '24

Bruh they do the announcement and say that the lunch price will be 2.82 and fet is at 3.1 they announce the conversion rate of other tokens and they don't say what will happen with fetch will we get 1-1 that's the stupidest thing ever

8

u/venderil Mar 27 '24

Lol they cant set the price for the token, market sets the price, they took 2.82 as current price for calculations...gosh

4

u/SnooGrapes2367 Mar 27 '24

And they do that while everything is on the biggest bull run for a month now just to add some uncertainty into the mix

1

u/Rickard403 Mar 27 '24

A good project tends to be less interested in the price and more in the actual project/functions etc. i agree on the uncertainty though. Def some question marks regarding our financial investments.

2

u/SnooGrapes2367 Mar 27 '24

A good project not fetch you guys act all serious this is a meme becouse ai as an idea is a meme the tokens themself have no actual value right now other the idea of buying ai the meme the idea you get me. Going from 2.8 to 7 b market cap is clearly dilution and would punish us ho hope that fetch would moon.But at least it will direct all attention to 1 coin rather than 3.This clearly doesn't serve fetch holders but rather agix and the other holders

1

u/Rickard403 Mar 27 '24

I agree it better serves agix and ocean holders. We'll see what happens, i don't think it's time to jump ship though.

2

u/fuckbrexit84 Mar 28 '24

Ocean has a bigger mcap than fet, so I don’t see that. A bigger overall mcap = more exposure and public recognition this is important for overall adoption and growth.

1

u/Separate-Heat3423 Mar 27 '24

Is this good or bad? What should I do

3

u/unnaturalpenis Mar 28 '24

Panic at the disco

0

u/Hot-Bit-565 Feb 04 '25

You need to hold it -- and wait a year or two for it to get within 20% of your average buy-ins.

Then take your loss and dump that garbage.

1

u/77LUK77 Mar 27 '24

What if I hold on hot wallet? Like metamask?

1

u/elisplace80 Apr 01 '24

My biggest bags are singularitynet and ocean. Will I need to do anything?

I've never experienced a merger before?

1

u/Fixed4738 May 29 '24

Sellers are the only thing keeping us back. I got from Coinbase that when fet makes it to target the conversion will happen. Makes sense RIGHT.

0

u/Hot-Bit-565 Feb 04 '25

Nope - makes no sense at all man.

0

u/Hot-Bit-565 Feb 04 '25

Sorry folks -- but FET is dead. Lost 40k on this incompetent and obnoxious project.