ASI Alliance (FET) Explained: Members, Merger, Ocean Exit and 2026 News

The Artificial Superintelligence Alliance, usually called the ASI Alliance, started as a big merger of three AI crypto projects under one token.

Two years later it looks quite different: Ocean Protocol has left, CUDOS has joined, the planned “ASI” ticker never fully arrived, and a bridge exploit in September 2026 paused conversions.

This guide explains the whole story in plain English and shows you how to evaluate the project for yourself.

What is the ASI Alliance?

The ASI Alliance is a group of crypto AI projects that agreed to share one token and work toward decentralized artificial general intelligence (AGI) and, eventually, artificial superintelligence. Its official docs describe it as “the largest open-sourced, independent entity in decentralized AI research and development.”

The pitch is simple. Big AI is controlled by a few companies. The alliance wants AI tools, agents and compute that anyone can use and build on, coordinated through a blockchain and a shared token.

Leadership: Ben Goertzel, founder of SingularityNET, is the alliance CEO. Humayun Sheikh, who founded Fetch.ai in 2017, is chairman.

If you are new to AI crypto in general, my AI crypto tokens explainer gives the wider picture first.

The members, and Ocean Protocol’s status

What happened with Ocean. On October 9, 2025, the Ocean Protocol Foundation said it had withdrawn its directors and resigned from the alliance “effective immediately.” It cited the need for independent tokenomics, its own funding, and a buyback-and-burn plan for OCEAN funded by spin-out profits.

By then about 81% of the OCEAN supply had been converted to FET. Around 270 million OCEAN, held by about 37,000 addresses, had not been converted. At the time, the Fetch.ai-managed bridge remained open at 0.433226 FET per OCEAN.

The split was not friendly. Ocean accused SingularityNET and Fetch.ai of breaching commitments about each member controlling its own assets, and there was a dispute over an August 2025 bridge shutdown.

Humayun Sheikh said he would personally fund a class action on behalf of FET holders. According to reporting in mid-2026, the legal fight was still unresolved.

The alliance’s own docs now list only Fetch.ai, SingularityNET and CUDOS as members.

The FET and ASI token merger history

Here is the timeline of how three tokens were meant to become one:

• March 2024: Fetch.ai, SingularityNET and Ocean Protocol announce the Artificial Superintelligence Alliance.
• July 1, 2024: Phase 1 goes live. AGIX (SingularityNET) converts at 1 AGIX = 0.433350 FET. OCEAN converts at 1 OCEAN = 0.433226 FET. FET becomes the shared token.
• Autumn 2024: A CUDOS community vote passes, and CUDOS joins. CUDOS converts at 112.427 CUDOS per FET (about 118.344 after a 5% fee), with vesting over 3 to 10 months. This adds about 88.9 million FET.
• Phase 2 (planned): FET was supposed to be renamed ASI. As of 2026, this rebrand has not been completed, and exchanges still list the token as FET.
• October 9, 2025: Ocean Protocol withdraws.
• September 19, 2026: A bridge exploit leads to a pause of AGIX-to-FET conversions (details below).

Supply. Maximum supply is about 2.72 billion FET. As of mid-2026, about 2.26 billion (roughly 83%) was circulating, according to Datawallet.

Note: The name confusion is real: many sites call the token “ASI,” “FET” or “ASI (FET).” When you look it up, the ticker you will see on most platforms is still FET.

What the alliance builds

Most of the visible product work comes from Fetch.ai, with compute from CUDOS and research from SingularityNET.

• ASI-1 model family. Fetch.ai launched ASI-1 Mini in February 2025, describing it as a Web3-native large language model tuned for agent workflows. Sheikh later said Fetch “built ASI1, tuned specifically for agentic systems.” Public specs and independent benchmarks are limited.
• ASI:One. A personal AI app and “intelligence layer” that coordinates many agents: it shares context, routes tasks and learns user preferences. It launched in beta in November 2025, with a broader release planned for early 2026.
• Agentverse and uAgents. uAgents is Fetch.ai’s framework for building agents. Agentverse is the marketplace where agents are registered and discovered. In November 2025, VentureBeat reported more than two million agents hosted there.
• Fetch Business. A portal where companies verify their identity and claim a brand agent handle (for example, a hotel brand), with low-code tools and links to systems like inventory and CRM.
• ASI:Cloud. Permissionless compute powered by CUDOS.
• ASI:Create. A builder tool that entered closed alpha in February 2026, with an open beta planned.
• ASI:Chain. The alliance’s own blockchain. A DevNet beta is live, a public TestNet was scheduled for 2026, and mainnet is targeted for late 2026 or early 2027.

If decentralized compute is the part that interests you, compare CUDOS with other projects in my decentralized GPU networks guide.

ASI Alliance in 2026: the key news

• January 2026: Fetch.ai planned a payment system on ASI:One, built with Visa, that lets agents make bookings and payments for verified users. It supports bank cards, USDC and FET, and uses one-time credentials.
• February 2026: ASI:Create entered closed alpha. Fetch.ai promoted an agent-based approach for ASI:One, moving away from single-model systems.
• April 2026: A partnership with Matterhorn was announced, targeting 20,000 builders by year end.
• September 19, 2026: An attacker used what preliminary analysis linked to a compromised bridge authorizer key tied to SingularityNET infrastructure. About 8.72 million FET (roughly $1.56 million) left the TokenConversionManagerV3 contract in one transaction. Less than 30 minutes later, about 408.5 million NTX (NuNet’s token) was minted in what investigators tied to the same attack. AGIX-to-FET conversion and some bridge functions were paused. Fetch.ai said its core contracts were not affected.
• Late October 2026: A broad AI-sector sell-off hit AI tokens, including FET, alongside a slump in Chinese AI stocks.

Warning: As of early November 2026, a full public technical report on the September exploit was still pending, and reports did not confirm that all conversion services had resumed. Check official alliance and Fetch.ai channels before trying to convert old tokens.

Risks you should understand

• Governance and alliance stability. One of three founding members has already left, with public accusations and legal action. More splits are possible.
• Bridge and key security. The September 2026 exploit shows that conversion contracts and signing keys are a real weak point.
• Unfinished migration. The ASI rename is incomplete, some AGIX and OCEAN were never converted, and conversion was paused after the exploit. This can confuse holders and create scam openings.
• Token value vs product use. ASI:One payments support cards and USDC as well as FET, so product growth does not automatically mean demand for FET.
• Heavy competition. Big AI labs and payment giants are building agent tools with far more users and money.
• Thin independent data. Claims like millions of agents are self-reported. Independent benchmarks for ASI-1 are scarce.
• Market risk. FET has traded far below its all-time high from March 2024. AI tokens move sharply with sector news.
• Regulation. Rules for AI tokens and token mergers vary by country and are still changing.

How to evaluate the ASI Alliance (step by step)

Note: This checklist helps you understand the project. It is not a buying guide.

1. Start with the official sources. Read docs.superintelligence.io, fetch.ai and singularitynet.io. Confirm the current member list and token name there.
2. Confirm the token contract. Get the FET contract address from official sites, then match it on a block explorer like Etherscan. Ignore addresses posted in replies or DMs.
3. Check the conversion status. If you hold old AGIX, OCEAN or CUDOS, read the latest official announcement on whether conversion is open, paused or closed. Never use a “converter” link from social media.
4. Try the products yourself. Open ASI:One and Agentverse. Ask: does it do something useful today? How does it compare with mainstream AI assistants?
5. Look for independent evidence. Search for third-party benchmarks of ASI-1, user reviews of ASI:One, and on-chain data about agent activity.
6. Track the roadmap against delivery. Write down promised dates (ASI:Chain TestNet, mainnet, ASI:Create beta) and check later whether they shipped on time.
7. Read the security history. Follow the September 2026 exploit report when it is published. Look for what was fixed and whether keys were rotated.
8. Follow the legal story. Check updates on the Ocean dispute and any class action. Legal outcomes can affect token holders.
9. Check token distribution. Look at circulating vs max supply, and large holder wallets, on a data site or block explorer.
10. Write a one-page summary. List facts, open questions and risks. Revisit it every few months.

For a contrasting model of decentralized AI, where miners compete in subnets for rewards, see my Bittensor TAO explainer.

Common Problems and Fixes

Problem: “Is the token called ASI or FET?” Fix: It still trades as FET on most platforms. The planned rename to ASI has not been completed. Search by contract address to be sure.

Problem: I still hold AGIX and can’t convert it. Fix: AGIX-to-FET conversion was paused after the September 2026 exploit. Wait for an official announcement from Fetch.ai or SingularityNET, and avoid third-party “help.”

Problem: I hold OCEAN and don’t know if I should have converted. Fix: Ocean has left the alliance, and OCEAN trades on its own again. This is a decision only you can make. Read Ocean’s and Fetch.ai’s official statements first.

Problem: Old articles still list Ocean as a member. Fix: Many guides predate October 2025. The alliance’s own docs now list Fetch.ai, SingularityNET and CUDOS only.

Problem: Someone DMs me a link to “claim ASI tokens.” Fix: This is a common scam pattern. There is no official airdrop of a new ASI token. Never connect your wallet to unknown links.

Problem: Numbers differ between sites. Fix: Supply, agent counts and prices change and are often self-reported. Use official docs for mechanics and a block explorer for on-chain facts.

Frequently Asked Questions

What is the ASI Alliance?

It is a group of decentralized AI projects, currently Fetch.ai, SingularityNET and CUDOS, that share the FET token and aim to build open AI agents, models and compute toward decentralized AGI.

Is Ocean Protocol still part of the ASI Alliance?

No. The Ocean Protocol Foundation withdrew on October 9, 2025. OCEAN can trade independently again, and a legal dispute between the parties was still unresolved in mid-2026.

Has FET been renamed to ASI?

Not yet. The rename was planned as a later phase of the merger, but as of 2026 the token still trades as FET on exchanges.

What were the merger conversion rates?

From July 1, 2024, 1 AGIX converted to 0.433350 FET and 1 OCEAN to 0.433226 FET. CUDOS later converted at 112.427 CUDOS per FET, before a 5% fee.

What is ASI-1?

ASI-1 is a family of AI language models from Fetch.ai, tuned for agent workflows. ASI-1 Mini launched in February 2025. It powers products like ASI:One.

What happened in the September 2026 exploit?

On September 19, 2026, an attacker drained about 8.72 million FET (about $1.56 million) from a token conversion contract using what appears to be a compromised authorizer key. AGIX-to-FET conversions were paused while teams investigated.

How can I follow the ASI Alliance safely?

Use official websites and docs, verify contract addresses on a block explorer, ignore DMs and claim links, and check announcements before doing anything with old tokens.

Sources

• ASI Alliance official docs
• The Block: Ocean Protocol withdraws from the ASI Alliance (October 2025)
• Datawallet: ASI Alliance members, FET token and 2026 roadmap
• VentureBeat: Fetch launches ASI:One and Business tier
• KuCoin News: Fetch.ai to launch payment system for AI agents in 2026
• KuCoin: Fetch.ai FET exploit, $1.56M drained from token converter
• CoinMarketCap: Latest ASI Alliance updates