Superintelligence Alliance — FAQ

Superintelligence Alliance — FAQ

What’s happening with Fetch.ai?

We are merging with two fellow titans of decentralized AI, SingularityNET and Ocean Protocol, to create the largest independent player in AI research and development: The Superintelligence Alliance. The tokens from the three respective organizations will all merge to form one universal AI token known as the Artificial Superintelligence token — $ASI.

What is the Superintelligence Collective?

The Superintelligence Collective is our united stand against the big tech’s control over technology. We’re joining forces to change the game on how AI is created, shared, and used by everyone.

This collective brings together a complete decentralized AI stack:

a. Fetch.ai’s autonomous AI agents

b. Ocean Protocol’s way of sharing data without losing control, and -

c. SingularityNET’s deep dive into AI research to spark new innovations.

Together, we’re pushing fast forward on making an AI future that’s fair, open, and for everyone. We’re steering the journey towards a smarter form of AI: Artificial Superintelligence (ASI).

We aim to accomplish this openly and equitably, without control resting in the hands of a few. This mission extends past merely imagining a better future — it’s focused on making sure that technology serves the broader population, not just an elite group.

Why is this happening?

Fetch.ai, SingularityNET, and Ocean Protocol have led the charge in decentralized AI in the last seven years. Our founders have dedicated decades to AI advancements. Driven by shared goals and respect, we have strived to shape the future of AI. Yet, as we’ve made strides, centralized AI has surged ahead, backed by hefty investments. This rush toward achieving Artificial General Intelligence (AGI) and, in time, Artificial Superintelligence (ASI), highlights the critical need for our approach to decentralization.

As we make progress, the goalposts for AGI and ASI get closer. The real questions now are about when and how these milestones will be achieved, rather than if.

We believe the answer lies in decentralization.

How it will work?

The Superintelligence Collective’s goal is to ensure everyone can freely manage their data and AI, honoring each person’s right to independence and control. In our partnership, we stick to these values too.

A common website for the Alliance will be put up in the coming days, though each project — Fetch, Ocean Protocol, and SingularityNET — will remain as independent legal entities. Existing leadership, teams, communities, and token treasuries will also remain unchanged. Any ongoing initiatives from each project will continue as planned and any changes, for a given project’s offering, will be announced via official channels.

Over time, as the Foundations collaborate and the teams get the chance to work more closely together, we expect to announce joint projects and collaborations — either internally to strengthen the overall product offering and improve the user experience, or externally to bring stronger go-to-market services for large and enterprise customers.

Each Foundation is still free to do as they like, to bring forward the values and adoption of decentralized AI — without coercion or compulsion to pressure other Alliance members. When cross-team collaborations make compelling and pragmatic sense, we’ll do it. If it doesn’t, two teams could work on a similar topic with different approaches. Community members are free to join, and free to leave at all times.

How will it be governed?

A governing council will be formed to handle the governance of the Alliance, with Humayun Sheikh from Fetch.ai as Chairman, Ben Goertzel from SingularityNET as the CEO, and Trent McConaghy and Bruce Pon from Ocean Protocol.

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

What should current holders of $OCEAN, and $AGIX tokens do?

For now, there’s no immediate action required from the holders. Holders of $OCEAN and $AGIX on exchanges will see their tokens relabelled to $ASI. Those holding tokens offline or in hard wallets can continue to hold them as before or use the token swap mechanism, available soon, to allow the exchange of $OCEAN and $AGIX for $ASI tokens. This swap option will be available indefinitely and exchange rates are fixed, so there’s no rush to swap.

What happens next?

We’ll stress on this again: Holders and users don’t need to do anything right now. With the announcement live, each Foundation will speak to business partners, answer questions from the community and start to plan the next steps.

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.’ Please note the following:

• Holders of $OCEAN and $AGIX can continue to hold tokens as before.
• The exchange rate between $FET/$ASI and $OCEAN is fixed at 0.433226 $ASI per $OCEAN and 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.
• The exchange rate will remain fixed and there is no deadline for swaps to take place.

How will the Token Exchange Mechanism work?

Starting with $FET as the base token of the Alliance, the $FET token will be renamed $ASI, and an additional 1.48 Billion tokens will be minted, with 867 million $ASI allocated to $AGIX holders and 611 million $ASI allocated to $OCEAN token holders. The total supply of $ASI tokens will be 2.63 Billion tokens.

We took a snapshot on Monday, 25 March 2024. Here is the Max Supply (#) and Fully Diluted Value ($) summary:

Here is the calculation basis for the token minting to give a proportional share of new $ASI tokens to $OCEAN and $AGIX holders:

Token holders will receive 0.433226 $ASI per $OCEAN and 0.433350 $ASI per $AGIX. This exchange rate is fixed and will not change. We expect that smart arbitrageurs will notice if a price differential between the tokens arises, and then arb it out to maintain a balance and equilibrium in the exchange rate.

How does this impact the token’s future and the community?

The introduction of $ASI is expected to strengthen our presence in the decentralized AI ecosystem and beyond. With a community of over 250,000 wallets and more on exchanges, the future looks promising.

Superintelligence Alliance — FAQ was originally published in Fetch.ai on Medium, where people are continuing the conversation by highlighting and responding to this story.