I am not referring to those merges. There is a NEW potential merge happening with ASI, what is it
9/23/2024 05:28am
Apologies for the confusion. The new potential merger that FETCH.AI (FET) is involved in is with the Artificial Superintelligence Alliance (ASI). The details are as follows:
1. **Proposal Announced**: The merger proposal was announced on September 11, 2024, by the founder of CUDOS, Matt Hawkins.
2. **Reason for Merger**: The merger is intended to integrate CUDOS's powerful computing network with the ASI framework, setting the stage for groundbreaking advancements in AI.
3. **Merger Terms**: The terms of the merger include a token conversion ratio of 112.427:1 FET to ASI and a token merger fee of 5%. This results in an effective merger rate of 118.344:1 FET to ASI, which will increase the ASI token supply by over 88.9 million tokens.
4. **Post-Merger Operations**: After the merger, the CUDOS blockchain will remain operational, and FET holders will retain their tokens. The migration to ASI will be facilitated through a conversion process, ensuring a smooth transition for stakeholders.
5. **Community Voting**: The merger is subject to approval by the communities of both FETCH.AI and ASI. If approved, the merger is scheduled to take place during the upcoming voting period, which begins on September 19, 2024, and ends on September 24, 2024.
This new merger aims to combine the strengths of FETCH.AI and ASI, potentially leading to significant advancements in the AI space.