As part of the formation of the Artificial Superintelligence (ASI) Alliance, AGIX token holders were invited to make their voices heard about our multi-billion token merger with decentralized AI industry leaders Fetch.ai and Ocean Protocol from April 4th, 2024, to April 16th, 2024.
The ASI Alliance proposal prompted thoughtful discussions and debates within the SingularityNET community. These conversations demonstrated a healthy exchange of ideas and perspectives regarding the optimal path for decentralized AI development, and we thank our community for engaging in respectful and constructive debates.
Once the voting period closed, a supermajority of AGIX Soon to become ASI token voters had approved the ASI Alliance proposal. This historic decision marked the formation of the largest open-source, decentralized network dedicated to accelerating the development of decentralized AGI and, shortly after, ASI.
In the spirit of transparency, this report presents an analysis of the voting process, examining factors such as voter turnout and vote distribution, simulating different scenarios, and highlighting the measures implemented to ensure the integrity of the results. We hope you find this window into community voting informative.
· Voting Portal Enhancements for Transparency · Voting Results Analysis ? Question 1: Do you approve of implementing the proposed tokenomic merger with Fetch.ai and Ocean Protocol? ? Question 2: Do you approve of accelerating the minting of 100M AGIX of the Foundation's Phase Two allocation? ? Voting Simulations and Visualization · What's Next
We have implemented several key upgrades to our voting portal to increase transparency and overall trust in our governance processes. These enhancements include displaying near-real-time voting results during the active voting period, participating addresses and their associated token balances, and a CSV export functionality.
To ensure accurate and equitable voting weight determination, we captured snapshots of both the Ethereum and Cardano blockchains a few hours before the start of the voting period. The snapshots only included AGIX token holdings meeting the following criteria: AGIX tokens held in non-custodial wallets, AGIX tokens actively providing liquidity on decentralized exchanges, and AGIX tokens staked through the official SingularityNET and SingularityDAO staking portals.
For privacy reasons, we opted not to utilize our Wallet Linking Tool for this vote. While this required multiple submissions for holders with wallets across different chains, we prioritized privacy. Casting separate votes for each wallet ensures that wallet linkages remain undisclosed.
We welcome ongoing feedback to ensure our decentralized governance mechanisms remain fair, accessible and truly reflect the will of our community.
The SingularityNET community actively engaged in merger-related conversations and debates, with a total of 790 wallets casting their vote.
The ASI Alliance governance vote saw a turnout rate of 9.43%, representing 120,921,788 AGIX tokens of the circulating supply at the time (1,282,094,972).
The results of the vote demonstrate a clear supermajority with 76.43% in favor of question 1 and 73.71% in favor of question 2, satisfying the governance requirements established in the SingularityNET whitepaper, which state: Major changes in the operation of SingularityNET: a 65% supermajority of AGIX token votes.
The voting results indicate strong support for the implementation of the three-way token merger with Fetch.ai and Ocean Protocol, with a significant majority (76.43%) voting Yes, 23.39% voting No, and 0.18% abstaining.
AGIX token holders overwhelmingly approved the proposal to accelerate the minting of 100 million AGIX of the SingularityNET Foundations Phase Two allocation, with 73.71% of the voters casting a Yes vote, 25.54% voting No, and 0.75% choosing to abstain.
This approval will leave 194,603,615 tokens to be released into the Foundation Wallet at a progressively decreasing rate until 2112. Additionally, 294,603,615 tokens are scheduled for release into other SingularityNET-related wallets including Deep Funding during the same period.
To inform discussions around the suitability of different voting mechanisms in ensuring fair representation, we simulated different voting scenarios with predefined parameters, employing two distinct voting mechanisms: one-token-one-vote and one-wallet-one-vote. The proposal passes in all cases.
For a visual analysis of the voting results, explore our long-term community member Robert Haas visual analysis. This analysis leverages the CSV file from the voting portal and his open-source Gravis library. It includes wallet sorting by balance, color-coded wallet identification, and the ability to investigate specific wallets and their voting choices. Additionally, the analysis delves into the potential impact of large wallets (whales) and the Foundation wallet, offering data-driven insights into overall voting patterns and outcomes.
Following the approval of the ASI Alliance proposal by the SingularityNET and Fetch.ai communities, the token merger is expected to start in the coming weeks.
The ASI Alliance will pool knowledge and expertise, computing power, data, and market reach to address the problem of concentrated power in the AI field and build a scalable decentralized AI infrastructure to accelerate the path to AGI on the blockchain.
To achieve this, the founding members of the Alliance will prioritize the following three pillars of focus: build decentralized ASI, show practical decentralized AI applications today, and secure decentralized compute.
As specified in the Vision Paper, the conversion ratios between AGIX, FET, OCEAN and ASI tokens are set at:
In the coming days, we will provide step-by-step guides on the token migration process and detailed information on product and technical integration. Please stay tuned for updates on our official channels Beware of fraudulent websites and social media accounts!
Meanwhile, we encourage you to explore the Artificial Superintelligence Alliance Vision Paper, FAQ, and introductory blog to explore the vision and motivation behind this three-way token merger and learn more about the implications of your vote.
SingularityNET is a decentralized AI Platform and Marketplace for Artificial Intelligence (AI) services. Our mission is the creation of a decentralized, democratic, inclusive, and beneficial Artificial General Intelligence (AGI), democratizing access to AI and AGI technologies through:
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