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Fetch.ai, Ocean Protocol and SingularityNET Finalize Token Merger Details to Create Artificial Superintelligence Alliance
Artificial Intelligence Pioneers Combine to Create a Decentralized Alternative to AI Projects Controlled by Big Tech
May 31, 2024
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SingularityNET (SNET), the world’s first decentralized Artificial Intelligence (AI) network, Fetch.ai, a Web3 platform for the new AI economy, and Ocean Protocol, a decentralized data exchange platform to protect data, today announced the June 13 finalization of the Artificial Superintelligence Alliance (ASI) merger. The newly combined $ASI token represents the largest open-sourced, decentralized network focused on the AI industry.

As of June 11, 2024, $FET will be renamed $ASI and on June 13 the merger completes. The $ASI token will function across the combined decentralized AI network, providing unprecedented scale and power. As of June 11, ERC20 tokens will be made available for users to swap $FET to $ASI tokens via a token migration contract, followed by $AGIX and $OCEAN on June 13. An audited, secure token migration contract will allow the conveyance of tokens into $ASI from over 200,000 token holders of the constituent communities with $AGI, $FET and $OCEAN tokens swapped at the previously announced pegged ratios.

“This merger paves the way for a new era in AI, combining our strengths to achieve unprecedented advancements,” states Ben Goertzel, CEO of ASI Alliance, renowned pioneer of AGIX and SNET Founder.“This is only the start of a broader movement to gather together forces working toward beneficial decentralized AGI and super-intelligence. The ASI token serves as a symbol and a practical tool for our shared quest to leverage advanced AI, blockchain and decentralized governance to move quickly and effectively toward an amazing future for all.”

Turbocharged ASI Future

With the closing of this merger, a decentralized AI infrastructure at scale is a reality. This fusion of SNET, Fetch.ai, and Ocean Protocol’s research, brands, technologies, and products lays the groundwork for an open, scalable AI infrastructure that leverages blockchain to ensure ethical and trustworthy practices in AI development and deployment. This is combined with flexible development of applications and their rapid market adoption at scale.

Meteteoric rise and the exceptional growth of these three leading AI projects, this landmark partnership presents a formidable challenge to Big Tech’s dominance in AI development. Longtime advocates and early adopters of AI, Ben Goertzel, Humayun Sheikh and Trent McConaghy have formed the ASI Alliance to expedite the commercialization and monetization of each foundation’s technology and enable widespread access to cutting-edge AI platforms and extensive datasets. The intent is to propel the development of AGI to new heights as a stepping stone to superintelligence.

“The ASI Alliance is going to be a gamechanger for web3 adoption for AI and data.” declares Bruce Pon, Ocean Protocol Founder and ASI Council Board Director. “We’ve worked through a lot of details to make the process go smoothly and we look forward to formally launching ASI.”

Looking Ahead

“This Alliance forges a different path in a world of exploding AI innovation,” adds Humayun Sheikh, CEO & Founder of Fetch.ai and ASI Chairman.

“With our newfound economies of scale the Alliance can make real inroads to change the way Big Tech controls the narrative and direction of AI. We have a long way to go, but this first step provides a foundation for others with a similar mission to make a difference. We deeply appreciate the enthusiastic response from numerous communities since the announcement and look forward to welcoming additional strategic collaborators into the Alliance in the near future.”

Transaction Details

With the completion of the token merger on June 13, 2024.

  • $FET is renamed $ASI, with a total supply of 2.63055 billion tokens
  • Bridge to migrate ERC20 $FET tokens to $ASI is opened at a conversion rate 1:1
  • Bridge to migrate ERC20 $AGIX tokens to $ASI is opened at a conversion rate of 0.433350:1
  • Bridge to migrate ERC20 $OCEAN tokens $ASI is opened at a conversion rate of 0.433226:1
  • The fully diluted market capitalization of ASI is USD$6 billion as of May 28th, 2024
 

About ASI

With a unique focus to create decentralized superintelligence, the Artificial Superintelligence Alliance (ASI) is the world’s largest open source, independent AI foundation. The ASI Alliance is formed through the combination of SingularityNET, the world’s first decentralized Artificial Intelligence (AI) network, Fetch.AI, a new AI economy Web3 platform, and Ocean Protocol, a decentralized data exchange platform for data protection.

For additional information on ASI, visit: superintelligence.io

About SingularityNET

SingularityNET was founded by Dr. Ben Goertzel with the mission of creating a decentralized, democratic, inclusive and beneficial Artificial General Intelligence (AGI). According to Dr. Goertzel, AGI should be independent of any central entity, open to anyone and not restricted to the narrow goals of a single corporation or a single country. The SNET team includes seasoned engineers, scientists, researchers, entrepreneurs, and marketers. The core platform and the SNET AI teams are complemented by specialized teams devoted to various application areas such as robotics, biomedical AI, finance, media, arts and entertainment.

For additional information visit: singularitynet.io

About Fetch.ai

Fetch.ai, a Cambridge-based AI company, is redefining the possibilities of an intelligent and connected world through its AI agent-based technology. Fetch.ai’s infrastructure technology enables developers and businesses to build, deploy & monetize through an agent-based modular platform for the new generation of AI applications. The company’s core product, DeltaV, fuses Language Models (LLMs) and AI Agents to create an open and dynamic marketplace that connects users to services and reimagines the current search experience.

For additional information visit: fetch.ai

About Ocean Protocol

Ocean was founded to level the playing field for AI and data. Ocean tools enable businesses and individuals to trade tokenized data assets seamlessly to manage data all along the AI model life cycle. Ocean-powered apps include enterprise-grade data exchanges, data science competitions and data DAOs. The Ocean Predictoor product has over $800M in monthly volume six months after launch with a roadmap to scale foundation models globally.

For additional information visit: oceanprotocol.com

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The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

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This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

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US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, “The Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.”

The data includes Real GDP and the PCE Price Index, which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data 👉will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

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List Of Cardano Wallets

Well-known and actively maintained wallets supporting the Cardano Blockchain are EternlTyphonVesprYoroiLaceADAliteNuFiDaedalusGeroLodeWalletCoin WalletADAWalletAtomicGem WalletTrust and Exodus.

Note that in case of issues, usually only queries relating to official wallets can be answered in Cardano groups across telegram/forum. You may need to consult with specific wallet support teams for third party wallets.

Tips

  • Its is important to ensure that you're in sole control of your wallet keys, and that the keys used can be restored via alternate wallet providers if a particular one is non-functional. Hence, put extra attention to Non-Custodial and Compatibility fields.
  • The score column below is strictly a count of checks against each feature listed, the impact of specific feature (and thus, score) is up to reader's descretion.
  • The table represents current state on mainnet network, any future roadmap activities are out-of-scope.
  • Info on individual fields can be found towards the end of the page.
  • Any field that shows partial support (eg: open-source field) does not score the point for that field.

Brief info on fields above

  • Non-Custodial: are wallets where payment as well as stake keys are not shared/reused by wallet provider, and funds can be transparently verified on explorer
  • Compatibility: If the wallet mnemonics/keys can easily (for non-technical user) be used outside of specific wallet provider in major other wallets
  • Stake Control: Freedom to elect stake pool for user to delegate to (in user-friendly way)
  • Transparent Support: Easy approachability of a public interactive - eg: discord/telegram - group (with non-anonymous users) who can help out with support. Twitter/Email supports do not count for a check
  • Voting: Ability to participate in Catalyst voting process
  • Hardware Wallet: Integration with atleast Ledger Nano device
  • Native Assets: Ability to view native assets that belong to wallet
  • dApp Integration: Ability to interact with dApps
  • Stability: represents whether there have been large number of users reporting missing tokens/balance due to wallet backend being out of sync
  • Testnets Support: Ability to easily (for end-user) open wallets in atleast one of the cardano testnet networks
  • Custom Backend Support: Ability to elect a custom backend URL for selecting alternate way to submit transactions transactions created on client machines
  • Single/Multi Address Mode: Ability to use/import Single as well as Multiple Address modes for a wallet
  • Mobile App: Availability on atleast one of the popular mobile platforms
  • Desktop (app,extension,web): Ways to open wallet app on desktop PCs
  • Open Source: Whether the complete wallet (all components) are open source and can be run independently.

Source

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XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

 

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