Story highlights
- ASI proposes merging with Cudos, converting CUDOS tokens to FET at an adjusted rate of 118.344 CUDOS per 1 FET after a 5% fee.
- The merger aims to combine ASI’s decentralized AI computing with Cudos’ scalable cloud services, strengthening its position in the AI space.
- If approved, the merger will be finalized after a vote from both communities, followed by a 3-month public vesting and 10-month treasury vesting period.
The Artificial Superintelligence Alliance (ASI) has announced a proposed merger with Cudos, a decentralized infrastructure platform. The move is part of ASI’s broader strategy to strengthen its leadership in artificial intelligence and blockchain technology. Currently, the ASI alliance includes SingularityNET, Fetch.ai, and Ocean Protocol. If approved, Cudos will join as a non-founding member, contributing its cloud infrastructure services to enhance the alliance’s decentralized AI computing capabilities.
Proposal Details for Token Conversion
The merger, set to be voted on by both Cudos and ASI communities between September 19 and September 24, 2024, includes a token conversion plan. The native CUDOS token will be converted to ASI’s FET token at a rate of 112.427 CUDOS per 1 FET. However, after applying a 5% merger fee, the adjusted conversion rate will be approximately 118.344 CUDOS per 1 FET. This conversion will be pivotal in integrating Cudos into ASI’s ecosystem, combining strengths to create a more efficient decentralized platform.
The primary goal of this merger is to leverage the combined resources of ASI and Cudos to foster innovation in artificial intelligence. Cudos brings scalable, flexible, and cost-effective cloud services that will enhance ASI’s decentralized AI computing power. According to Matt Hawkins, founder of Cudos, this partnership is a significant step toward creating an integrated platform where AI and blockchain technologies can work seamlessly. Hawkins believes that the addition of Cudos will position ASI as a leader in the artificial general intelligence (AGI) space, providing a foundation for future growth.
Cudos’ Impact on Token and Market Performance
Following the merger announcement, CUDOS tokens saw a brief spike in value, reaching a peak of $0.01. However, the price was later adjusted to $0.00816, reflecting a 2.68% decrease over the past 24 hours. Trading volume also surged, increasing by 175% to over $1.45 million. While market fluctuations are expected during such announcements, the long-term impact of the merger could stabilize CUDOS tokens and strengthen the broader ASI ecosystem.
The voting period for the proposed merger will run from September 19 to September 24. Both the Cudos and ASI communities will have the opportunity to cast their votes during this period. If approved, the merger will initiate the integration of Cudos into ASI’s platform. This integration includes a three-month public vesting period and a 10-month treasury vesting period for the converted tokens, ensuring a smooth transition for all stakeholders involved.
Strengthening AI and Blockchain Collaboration
The Artificial Superintelligence Alliance, established earlier this year, aims to drive advancements in AI and blockchain technology. By integrating Cudos into its fold, the alliance seeks to enhance computing power and improve the efficiency of its decentralized AI services. Humayun Sheikh, CEO of Fetch.ai and chairman of ASI, emphasized the importance of this merger in advancing their shared goal of achieving AGI and Artificial Superintelligence (ASI). Sheikh highlighted that this partnership will create a seamless ecosystem, furthering the alliance’s mission to develop autonomous and profitable global AI networks.
The proposed merger between ASI and Cudos is a strategic move that could have significant implications for the future of decentralized AI. With the combined capabilities of both platforms, the alliance is poised to strengthen its position in the rapidly evolving AI industry. As the merger vote approaches, both communities are keen to see how this collaboration will unfold and what it means for the future of decentralized AI and blockchain technology.
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