Ocean Exits ASI Alliance to Reclaim Token Independence

Ocean Protocol has announced its formal withdrawal from the Artificial Superintelligence (ASI) Alliance, a consortium formed by the 2024 merger of Fetch.ai, SingularityNET, and Ocean Protocol. The rebranding initiative, which initially aimed to unify the OCEAN, AGIX, and FET tokens under the ASI ticker, is now undergoing a strategic shift. The OCEAN token, previously slated for conversion to FET and subsequent migration to ASI, will instead be relisted independently, marking a departure from the original alliance structureThe ASI Token - Ocean Protocol^[1].

The ASI Alliance had planned a two-phase token merger, with OCEAN tokens temporarily consolidating into FET before transitioning to ASI. However, the revised strategy sees OCEAN retaining its distinct identity. The initial phase, scheduled for July 1, 2024, included the delisting of OCEAN and AGIX from exchanges, with holders converting their tokens to FET at a rate of 1 OCEAN to 0.433226 FET. This step, however, will now be halted as Ocean Protocol exits the allianceThe ASI Token - Ocean Protocol^[1]. The decision reflects a recalibration of the project's governance and tokenomic framework, emphasizing a return to independent operations.

Binance, the largest cryptocurrency exchange by trading volume, has already implemented the delisting of OCEAN and AGIX in alignment with the original ASI merger plan. The exchange suspended deposits, withdrawals, and trading for these tokens on July 1, 2024, directing users to migrate holdings to FET via self-custody walletsBinance to Delist OCEAN and AGIX in Support for Artificial ...^[2]. Meanwhile, Coinbase, another major exchange, has opted not to facilitate the token migration, requiring users to manually transfer assets using third-party wallets like Coinbase Wallet. This divergence in exchange policies underscores the complexity of coordinating large-scale token transitions across decentralized networksCoinbase Shuns ASI Token Merger: Here’s What It Means^[3].

The ASI Alliance's vision of creating a unified decentralized AI infrastructure remains intact for Fetch.ai and SingularityNET. The alliance has confirmed that the ASI token will still be deployed across multiple blockchains, with FET tokens converting to ASI at a 1:1 ratio. OCEAN and AGIX holders will retain their converted FET balances but will no longer benefit from the ASI token's future utility within the alliance's ecosystem. The total ASI supply, including newly minted tokens, is projected to reach 2.63 billion, with allocations of 611 million to OCEAN holders and 867 million to AGIX holdersThe ASI Token - Ocean Protocol^[1].

Analysts suggest that Ocean Protocol's exit from the alliance may impact the liquidity and adoption of OCEAN. The token's relisting could attract a niche market of investors seeking exposure to Ocean's data-sharing platform, but the absence of ASI's broader AI ecosystem integration may limit its growth potential. Conversely, the ASI token's continued development as a decentralized AI infrastructure asset could strengthen its position in the sector, particularly with institutional support from exchanges like BinanceBinance to Delist OCEAN and AGIX in Support for Artificial ...^[2].

The ASI Alliance's governance model, which balances decentralized voting via FET with individual member autonomy, remains unchanged. The alliance's leadership, including Ben Goertzel (SingularityNET) and Trent McConaghy (Ocean Protocol), will continue to oversee research and development initiatives. However, the departure of Ocean Protocol signals a shift in the alliance's strategic focus, prioritizing cohesion among remaining members over expansion.