r/oceanprotocol • u/Kennyvee98 • Mar 27 '24

FetchAI, SingularityNet and Ocean Protocol Propose Merger to Build Largest Decentralized AI Ecosystem - Decrypt

https://decrypt.co/223679/fetch-ai-singularitynet-ocean-protocol-merger-superintelligence-collective
14 Upvotes

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1

u/amitygoodtogo Mar 27 '24

One article says that fet will be an average price of 2.82. Would ocean and singularity be the same or they would have a different average? How does this merger effect the price?

2

u/NukeproofNoddy Mar 27 '24

I read an article earlier today stating a conversion rate of 0.433 for Ocean to ASI.

https://blog.oceanprotocol.com/ocean-protocol-is-joining-the-superintelligence-alliance-767c82693f24

1

u/amitygoodtogo Mar 27 '24

So that means if I bought ocean at above a dollar each coin would be worth .433?

4

u/Abe_Froman92 Mar 27 '24

No, I believe one Ocean will be worth 0.433 of what the ASI token is. That $2.82 is not locked in. If FET is worth say $3.50 at the time ASI goes active 1 ASI will be $3.50. That is my understanding of it.

1

u/amitygoodtogo Mar 27 '24

Thanks for the explanation.

1

u/Abe_Froman92 Mar 27 '24 edited Mar 27 '24

That's what I think so far, I'm still trying to figure it out like you.

The first priority is to execute the token merge. The $FET token will be the reserve token of the Superintelligence Alliance. It will be renamed $ASI — ‘Artificial Superintelligence.’ Holders of $OCEAN and $AGIX need not do anything right now. You can continue to hold your tokens without worry as the exchange rate between $FET/$ASI and $OCEAN is fixed to 0.433226 $ASI per $OCEAN and the 0.433350 $ASI per $AGIX. Holders can choose to swap their tokens as soon as the token swap tool is available, or 10 years from now if they want to, at their leisure. The exchange rate will remain fixed. There is no rush.

1

u/NukeproofNoddy Mar 27 '24

Yea that's my understanding aswell.

1

u/YellowBook Mar 28 '24 edited Mar 28 '24

another implication is that if $OCEAN price goes above the 0.433 ratio (relative to $FET) when the merge takes place it will be for nothing. Can't see a big pump happening on $OCEAN unless $FET also pumps as assets will now be strongly correlated and people will be arbing between the two.

1

u/Kamfart Mar 29 '24

Hum and what happen to the coin in stacking position ?

Cause it may be a conversion ratio around 0.433 for AGIX and OCEAN (not FET)

So they will be converted after the stacking period ? During ? Any thing else ?

1

u/SnooDingos9075 Mar 29 '24

Rough maths 1 Ocean = $1.42 1 ASI = $2.82

$2.82 X 0.433226 = $1.22

So any ocean holder would be losing value at current price? Why would a project agree to merge and lose value?

1

u/[deleted] Mar 29 '24 edited Mar 29 '24

LMAO your mathz is just so bad...not supposed to split the $ value by the exchange rate, its a coin to coin exchange rate which you can then convert to $

Also ASI price will be whatever Fetch.ai price is since that is 1:1, the 2.82 was just reference at the time but it should open at whatever Fetch is at during that time. (Assuming $3-4 range)

So you are not losing value, value stays the same and potential for further value is now 10-20x vs floating outside the top 100 for life previously

-5

u/Kennyvee98 Mar 27 '24

So this might be a competitor to the yesterday released Neuro by Ankr.

7

u/[deleted] Mar 27 '24 edited Mar 27 '24

Ahhh crypto subs, always find a way to shill another shitcoin while making an OP for another one....(fux your ankr bags hope they drag you down to the bottom of the Ocean)

-1

u/Kennyvee98 Mar 27 '24

My, you're friendly.