Ocean Protocol has announced its withdrawal from the Artificial Superintelligence Alliance (ASI) to focus on the independent governance of the OCEAN token and its own economic model.
This is reported by Business • Media
Reasons for Ocean Protocol’s Exit from the Alliance
The Ocean Protocol team has declared an immediate exit from the Artificial Superintelligence Alliance (ASI), which they co-founded with Fetch.ai and SingularityNET. According to the announcement, Ocean representatives are withdrawing their delegates from the alliance’s board of directors. The primary reason for this decision is the necessity to maintain an independent financial policy and control over the supply of the OCEAN token. The developers intend to ensure the sustainable development of the project through revenues from technological branches and will direct a portion of the profits towards the buyback and burning of the OCEAN token.
The ASI alliance brought together three major projects in the field of artificial intelligence under a single token. At the time of its launch in March 2024, it was planned that AGIX and OCEAN tokens could be voluntarily exchanged for FET, which became the main asset of the ecosystem and was later named ASI. However, no new smart contract was created, and the merger consisted of rebranding and agreeing on the tokenomics.
Further Development of the Ecosystem and Reactions from Alliance Participants
As of July 2024, according to Ocean Protocol, approximately 81% of OCEAN tokens had already been converted into FET. However, over 270 million OCEAN tokens remain in circulation and belong to more than 37,000 addresses. The Fetch.ai conversion bridge remains available, and OCEAN continues to trade on major cryptocurrency exchanges such as Coinbase, Kraken, Binance US, and Uniswap.
In the past, the alliance actively collaborated on technological integrations, educational initiatives, and organizing specialized conferences, including the Superintelligence Summit. However, Ocean Protocol emphasizes that the decision to operate separately was made to ensure flexibility and financial independence.
“Ocean Protocol’s exit from the Alliance does not affect the core technology stack – momentum and development remain undiminished within the founding teams. The ASI Alliance remains fully aligned in its…”
Representatives from ASI and Fetch.ai noted that the separation from Ocean Protocol occurred amicably, and such transitions are natural for evolving partnerships. The main mission of the alliance remains unchanged — the development of an open and decentralized infrastructure for artificial intelligence.
Following the news of Ocean Protocol’s exit, the ASI token dropped by approximately 4.7%. Overall, its value decreased by 18.6% over the past week.
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