The native token of distributed artificial intelligence computing platform CUDOS has surged more than 12% in the past 24 hours.
CUDOS price shot to highs of $0.01 before hitting resistance as the market reacted to news of a proposed merger between CUDOS and the Artificial Superintelligence Alliance (ASI). ASI announced the potential merger on Sept. 11.
Artificial Superintelligence Alliance proposes CUDOS merger
The ASI group, recently formed from the merger of SingularityNET, Fetch.ai, and Ocean Protocol, said it was looking to add AI compute provider CUDOS. The three tokens merged into the Artificial Superintelligence Alliance token (FET).
According to the announcement, the merger is subject to approval by the communities of both projects, with a governance vote scheduled for Sept. 19 to Sept. 24, 2024.
Setting stage for decentralized AGI
Matt Hawkins, the founder of CUDOS, said that the potential integration with the Artificial Superintelligence Alliance could help build the world’s “largest vertically integrated decentralized AI technology stack.”
CUDOS enables users to access premium AI infrastructure, such as NVIDIA’s H100 GPUs, at roughly half the cost of traditional cloud providers like Amazon AWS. This feature could lead to dominance for blockchain-based providers.
If the proposed ASI merger goes through, it will also pave the way for advancements in artificial general intelligence
“By leveraging CUDOS’ powerful computing network within the ASI framework, we’re setting the stage for groundbreaking advancements in AI that will redefine the future of technology and pave the way for decentralized AGI and ASI.”
Matt Hawkins, CUDOS founder
CUDOS token to migrate to FET
CUDOS will migrate to FET tokens at a conversion ratio of 112.427:1 FET, with a token merger fee of 5%. This results in an effective merger rate of 118.344:1 for CUDOS to FET and will increase FET supply by over 88.9 million tokens.
The CUDOS blockchain will remain operational while the merger is considered, and migration will commence if the community approves the proposal.
Source: https://crypto.news/cudos-token-surges-amid-asi-merger-proposal/