The Artificial Superintelligence Alliance has revealed a proposed merger with CUDOS, an AI computing platform whose native token will be converted into FET if the proposal passes in a community vote.
The Alliance for Artificial Superintelligence has announced a proposal to integrate the alliance with the Decentralized Physical Infrastructure Network (DePIN) platform CUDOS.
SingularityNET, Fetch.ai and Ocean Protocol will merge into one organisation under the ASI Alliance, and this new development will see CUDOS joining as a non-founding member.
ASI proposes merger with CUDOS
ASI announced the merger proposal on September 11th, which the CUDOS team also posted on their X account.
📢 Attention! Big news coming soon 📢
CUDOS and the Artificial Superintelligence Alliance (@ASI_Alliance) are proposing a groundbreaking strategic token merger to advance AI research and development 🔎
CUDOS, a leader in decentralized AI computing, plans groundbreaking token merger… https://t.co/C2V0h28urD
— CUDOS (@CUDOS_) September 11, 2024
Details of the proposal include the assertion that decentralized AI computing providers would be a valuable addition to the ASI Alliance.
Notably, CUDOS, which leverages blockchain to provide scalable, cost-effective and flexible cloud AI services, said it will support the Artificial Superintelligence Alliance’s efforts to become a leader in artificial general intelligence (AGI).
“This partnership is about more than just combining resources. It's about creating a seamless ecosystem where AI and blockchain technologies can thrive together, pushing the limits of what decentralized AI can achieve. By leveraging CUDOS' powerful computing network within the ASI framework, we will lay the groundwork for breakthrough advancements in AI, redefining the future of technology and paving the way for decentralized AGI and ASI,” said Matt Hawkins, founder of CUDOS.
CUDOS token migration
If both the CUDOS and ASI communities pass the proposal in a vote scheduled for September 19th to September 24th, 2024, CUDOS tokens will be converted into Artificial Superintelligence Alliance Tokens (FETs).
As per the announcement details, the CUDOS to FET conversion ratio will be 112.427:1. With a 5% merge fee applied, it will be approximately 118.344:1.
The price of the CUDOS token surged following the news, hitting a high of $0.01 before paring gains. CUDOS daily trading volume increased 113% to over $1.2 million at the time of writing.
