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Ocean Explains Exit from ASI: Partner Violated Core Promise of 'Participant Asset Control'
BlockBeats News, October 23rd, Ocean Protocol published a post explaining the reason for exiting the Artificial Superintelligence Alliance (ASI), accusing partners SingularityNET (AGIX) and Fetch.ai (FET) of violating the alliance's core commitment to "Asset Control by Each Party." The merged FET token's price plummeted 93% from its peak value, primarily due to massive sell-offs by SingularityNET and Fetch.ai and the failure of Fetch.ai's high-risk "TRNR" trading, not due to Ocean Protocol's exit. Throughout the process, Ocean has consistently adhered to the principle of decentralization, where individuals have undisputed sovereignty over their assets. This exit is to prevent further harm to the Ocean community's interests, and in the future, Ocean will continue to focus on the independent development of its technology and products.
In 2024, SingularityNET (AGIX) merged its tokens with Fetch.ai and Ocean Protocol in the Artificial Superintelligence Alliance (ASI), and the token was eventually named ASI, completed on June 13, 2024.
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