TL;DR
- The Artificial Superintelligence Alliance (ASI) proposes a merger with CUDOS, which would join as a non-founding member of the alliance composed of SingularityNET, Fetch.ai, and Ocean Protocol.
- If the merger is approved, the CUDOS token will convert to the ASI token, known as FET, with an adjusted rate of approximately 118.344 CUDOS per 1 FET after a 5% merger fee.
- The proposal aims to combine resources to strengthen decentralized AI computing, with CUDOS providing scalable and cost-effective cloud services.
The Artificial Superintelligence Alliance (ASI) continues working on its expansion strategy and has proposed a merger with CUDOS, a decentralized physical infrastructure (DePIN) platform.
The announcement was made today and is crucial for ASI’s evolution, which currently consists of SingularityNET, Fetch.ai, and Ocean Protocol. CUDOS would join as a non-founding member of the ambitious project seeking to establish strong leadership in the artificial general intelligence (AGI) industry.
📢 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… https://t.co/C2V0h28urD
— CUDOS (@CUDOS_) September 11, 2024
The merger proposal suggests that if approved by both CUDOS and ASI communities in a vote set for September 19 to September 24, 2024, the native CUDOS token will be converted to ASI’s token, known as FET. The conversion will occur at a rate of 112.427 CUDOS per 1 FET, though a 5% merger fee will be applied, adjusting the ratio to approximately 118.344 CUDOS per 1 FET.
ASI Seeks to Unite Forces with CUDOS to Enhance Its Strengths
The purpose behind this merger is to combine the strengths of both platforms to create a more robust ecosystem where artificial intelligence and blockchain technology can develop synergistically.
Matt Hawkins, founder of CUDOS, stated that this partnership not only aims to unite resources but also to build an integrated platform that pushes the boundaries of what decentralized AI can achieve. According to Hawkins, the addition of CUDOS will strengthen ASI’s ability to lead in the AGI field by offering scalable, flexible, and cost-effective cloud AI services.
Although the merger announcement had a positive impact on the market, the CUDOS token price experienced a temporary increase, reaching highs of $0.01 before adjusting its gains. Its current value is $0.008496, reflecting a 2.5% decline over the past 24 hours. Additionally, daily trading volume increased by 175%, surpassing $1.45 million.
