Fetch.ai has successfully completed its Proposition 33 network upgrade, marking a major milestone for the decentralized AI platform. The upgrade seamlessly integrated Fetch.ai’s mainnet with the CUDOS network, merging all CUDOS tokens and staked assets according to the set token ratio and a three-month distribution schedule.
Following the upgrade, analysts expressed optimism about the potential impact on the value of Fetch.ai (FET), predicting a strong rally.
Fetch.ai Completes Network Upgrade
The integration of CUDOS mainnet into Fetch.ai brings new interoperability and functionality to the Fetch.ai ecosystem. By merging with CUDOS, Fetch.ai has expanded its decentralized computing capabilities, enabling the development of more efficient and scalable AI and blockchain applications.
The Fetch.ai team also acknowledges the prompt and professional efforts of its validators, who ensured the smooth execution of the upgrade, restored consensus formation, and ensured stable network operations.
Fetch.ai also acknowledges the patience and support of the community throughout the upgrade, as this integration paves the way for further progress. With this merger, Fetch.ai aims to strengthen its position in the Artificial Super Intelligence (ASI) Alliance, a coalition of decentralized AI platforms that includes SingularityNET and Ocean Protocol.
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New Opportunities for Cross-Chain Connectivity with Partners
Injective Fetch.ai is also making great strides in cross-chain connectivity through a new partnership with Injective, a decentralized finance (DeFi) protocol. The partnership allows Fetch.ai to replace its Inter-Blockchain Communication (IBC) light client protocol with Injective’s technology, making cross-chain asset transfers between the Fetch.ai and Injective networks more efficient.
According to market observers, this could open up new DeFi opportunities, further boosting Fetch.ai’s ecosystem. Market activity around Fetch.ai’s derivatives products has increased, with trading volume increasing by 93.89% to $121.26 million. Open interest – a measure of the total number of outstanding derivative contracts – also increased by 3.22%, indicating renewed interest from traders. This increase in activity reflects growing confidence from the market and could be a bullish sign for Fetch.ai’s recent upgrades.
