FET (FET) tokenomics

The Artificial Superintelligence Alliance represents a major strategic merger between three prominent decentralized AI projects: Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN). This alliance aims to create a unified ecosystem and a single universal AI token, $ASI, to compete in the race for Artificial General Intelligence (AGI) and Superintelligence.

Issuance Mechanism

The $ASI token was created through a multi-phase token merger process that began in mid-2024. The issuance is primarily driven by the migration of existing tokens from the three founding protocols into the new unified asset.

• Total Supply: The total supply of $ASI tokens is set at 2.63 billion.
• Migration Ratios: The issuance of $ASI is based on fixed conversion rates for the participating tokens:
  • FET: Swaps at a 1:1 ratio. FET serves as the base currency for the initial phase of the merger.
  • AGIX: Swaps at a fixed rate of 1.00 AGIX to 0.433350 ASI.
  • OCEAN: Swaps at a fixed rate of 1.00 OCEAN to 0.433350 ASI.
• Timeline: Phase I of the merger commenced on July 1, 2024, where AGIX and OCEAN began merging into FET. The transition to the $ASI ticker symbol follows this consolidation.

Allocation Mechanism

The allocation of the $ASI supply is designed to honor the existing distributions of the three merging protocols. Initial allocation pools previously held in AGIX, FET, and OCEAN—including staking and community funds—are converted to ASI at the predetermined rates.

Usage and Incentive Mechanism

The $ASI token is intended to be the primary medium of exchange and governance within the combined ecosystem.

• Medium of Payment: ASI is used to facilitate trade transactions on the AI marketplace. It allows AI agents to communicate, exchange information, and settle services (such as API calls) without human intervention.
• Staking: A staking mechanism for the ASI token was scheduled for release in May 2024. Staking is used to secure the network and facilitate the crypto-fiat gateway for marketplace users.
• Governance: The alliance is governed by the Artificial Superintelligence Council and ASI tokenholders. Tokenholders have the right to vote on grant proposals (such as those in the Deep Funding program) and other protocol management decisions.
• Ecosystem Airdrops: Holding ASI tokens may qualify users for future ecosystem-specific airdrops.

Locking and Unlocking Mechanisms

The locking and unlocking of tokens within the Alliance are largely tied to the staking and migration protocols.

• Staking Windows: Staking rewards are typically paid out at the end of a 30-day period. During this window, withdrawals are disabled. If a user does not withdraw their stake and rewards at the end of the period, the protocol automatically re-stakes them for the next 30-day cycle.
• Migration Deadline: There is no deadline for AGIX and OCEAN holders to swap their tokens for ASI. The swap mechanism remains open indefinitely to ensure all long-term holders can migrate their assets.
• Governance Locking: While specific long-term lockups for the unified ASI token were not detailed in the initial vision paper beyond standard staking cycles, the individual protocols (like SingularityNET) have historically used 30-day windows for reward distribution and liquidity management.

Information regarding specific venture capital vesting schedules or team lockup periods for the newly formed Alliance was not explicitly detailed in the provided disclosures, as the supply is primarily a consolidation of already circulating or allocated tokens from the three founding projects.