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 $ASI 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.