FET token supply increased to support forthcoming ASI token merge

Following the successful voting across constituent Alliance communities of Fetch.ai and SingularityNET, we recently announced the approval of the token merger of $FET, $AGIX, and $OCEAN into $ASI to form the Artificial Superintelligence Alliance.

As the next step in the merger, we have now minted an additional 1,477,549,566 $FET tokens to support the ASI Token Exchange Mechanism. The additional 1,477,549,566 $FET tokens are needed to support the $AGIX and $OCEAN token holders as they convert to the $ASI token based on the following conversion rates:

• The $AGIX:$ASI conversion ratio will be 0.433350:1, supported by newly minted 866,700,367 $FET tokens
• The $OCEAN:$ASI conversion ratio will be 0.433226:1, supported by newly minted 610,849,199 $FET tokens
• The $FET:$ASI conversion ratio is 1:1, supported by the existing 1,152,997,575 $FET tokens

This will bring the new total supply of $FET token to 2,630,547,141. In the subsequent step, we will rename the $FET token to the new $ASI token. For reference, we are resharing the calculation basis from our original post on the 27th of March when we first announced the merger.