- The Artificial Superintelligence Alliance revealed a proposal to merge with CUDOS.
- The native CUDOS token, from the AI computing platform, would be converted to FET if the community vote approves the proposal.
The Artificial Superintelligence Alliance (ASI) announced a proposal to merge the alliance with the decentralized physical infrastructure network (DePIN) platform CUDOS.
SingularityNET, Fetch.ai, and Ocean Protocol have combined into a single entity under the ASI alliance, and the new development would bring CUDOS in as a non-founding member.
ASI proposes merger with CUDOS
ASI announced the proposed merger on September 11, with the CUDOS team also posting the proposal on their X account.
📢 ATTENTION! HUGE NEWS INCOMING 📢
CUDOS and the Artificial Superintelligence Alliance (@ASI_Alliance) propose a game-changing strategic token merger to propel AI research and development 🔎
CUDOS, a leader in distributed AI computing, is set for a landmark token merger with…
— CUDOS (@CUDOS_) September 11, 2024
Details of the proposal emphasize that distributed AI compute providers will be a valuable addition to the ASI Alliance. CUDOS, which leverages blockchain to deliver scalable, cost-effective, and flexible cloud AI services, said it would support the Alliance’s goal of leading work toward artificial general intelligence (AGI).
“This partnership is not just about merging resources; it’s about creating a seamless ecosystem where AI and blockchain technologies can thrive together, pushing the boundaries of what decentralized AI can achieve. By integrating CUDOS’s powerful compute network into the ASI framework, we are setting the stage for breakthrough AI advancements that will redefine the future of technology and pave the way for decentralized AGI and ASI,” said Matt Hawkins, founder of CUDOS.
CUDOS token migration
If both the CUDOS and ASI communities approve the proposal in votes scheduled from September 19 to September 24, 2024, the CUDOS token will be converted to the Artificial Superintelligence Alliance token (FET).
According to the announcement, the conversion ratio from CUDOS to FET is 112.427:1. A 5% merger fee would apply, resulting in an effective ratio of approximately 118.344:1.
The CUDOS token price rose sharply after the news, briefly reaching a high of $0.01 before giving back some gains. Reported daily trading volume for CUDOS increased about 113% to more than $1.2 million at the time of writing.