Question
Provide a concise narrative that clearly states each of (a)–(e) below.
Response
Fetch.ai builds open infrastructure for deploying smart, autonomous services, targeting coordination failures in fragmented digital and physical markets where peer-to-peer business models require automation without centralized intermediaries. The ASI Network documentation describes the network as the foundation of a decentralized digital economy driven by Agents, Agentverse, and ASI:One Mini, and separately identifies intended applications across mobility, industrial, and consumer settings.
(Source: The ASI Network, Press & Media, Bosch Partnership)
Fetch.ai sustains network participation through validator- and delegator-based governance while funding ecosystem development through the Innovation Lab, Startup Accelerator, Ambassador Innovator Club, and Internship Incubator programs. Fetch.ai allocates $10 million annually to projects building AI-agent solutions on its stack and provides tools, mentorship, and support from proof of concept through launch.
(Source: Governance, Innovation Lab Launch, Innovation Lab)
The ASI Network stack is built around the Fetch Ledger, the Almanac contract, and related developer tooling. The ledger records transactions and data exchanges; the Almanac functions as a decentralized registry for agent discoverability and coordination. The Fetch Ledger uses FET for transactions, agent interactions, and smart contract execution.
(Source: The ASI Network)
FET was created to facilitate payments in an AI-driven world and to support micro-payments between agents. FET is also used for staking, decentralized governance, agent registration and interaction, low-cost smart contract interactions, and access to AI tools, datasets, and compute resources.
(Source: Getting Started with FET Token, The ASI Network)
The protocol's governance surface relies on delegated or validator-based participation. Any FET holder can submit a proposal, proposals require a deposit above the onchain minDeposit parameter, and bonded FET holders vote during a five-day voting period. Governance has gated operational changes, including the 2025 mainnet upgrade through proposal #35. At the alliance level, the ASI Alliance launched in 2024 with a governing council spanning Fetch.ai, SingularityNET, and Ocean Protocol, with CUDOS integrated as a fourth member following community votes in September 2024. Ocean Protocol Foundation withdrew its designated directors and resigned from the alliance effective October 9, 2025, leaving Fetch.ai, SingularityNET, and CUDOS as the active alliance members. Related litigation between Fetch-affiliated plaintiffs and Ocean-affiliated defendants remains pending in the Southern District of New York, and the scope of alliance-level governance versus chain-level governance remains subject to that dispute.
(Source: Governance, Mainnet Upgrade, Ocean Withdrawal — The Block, ASI Alliance Members — Phemex Academy, CUDOS Integration Vote — FXStreet, S.D.N.Y. Docket 1:25-cv-9210)
Question
For each existing entity: Labs/DevCo (e.g., Founder, CEO, CTO, COO), Foundation (e.g., President, Executive Director, CFO, COO), and DAO / onchain governance leadership (if applicable) list the: (a) full names, (b) official titles, (c) and prior experience of key team members. For any non-existent entity, explicitly mention it does not exist. External links may be included but they will not factor into the score.
Response
Full Name | Entity | Official Title | Prior Experience |
|---|---|---|---|
Humayun Sheikh | Labs | Founder and CEO | Founding investor in Google DeepMind. |
Sana Wajid | Labs | Programme and Operations Director; Senior Vice President of the Fetch.ai Innovation Lab; CDO at Fetch.ai | Previously held key leadership roles in the rail industry, oversaw launches of asset-management products; over 15 years of product management and development experience. |
Edward FitzGerald | Labs | CTO | Joined from Nokia Bell Labs, where he researched consensus protocols; initially led development of the core Fetch.ai Ledger systems before taking responsibility for the wider engineering organization. |
Maria Minaricova | Labs | Director of Business Development | Specific prior-experience detail for Maria Minaricova was not identified in cited sources reviewed for this filing. |
Kamal Ved | Labs | CPO | Led product management at Amazon and several tech startups; has led Web3 protocol teams since 2017; previously a hands-on software engineer; venture partner at Lunar Ventures. |
Peter Busch | Foundation | Chairman of the Fetch.ai Foundation | Lead Expert DLT Mobility at Bosch. |
Ricky Lamberty | Foundation | Member of the Board of the Fetch.ai Foundation | Lead Expert Digital Assets at Bosch. |
Humayun Sheikh | Foundation | Member of the Board of the Fetch.ai Foundation; CEO and Founder of Fetch.ai | Founding investor in Google DeepMind. |
Maria Minaricova | Foundation | Member of the Board of the Fetch.ai Foundation; Director Business Development at Fetch.ai | Specific prior-experience detail not identified in cited sources. |
Kamal Ved | Foundation | Member of the Board of the Fetch.ai Foundation; Chief Product Officer at Fetch.ai | Led product management at Amazon and several tech startups. |
Edward FitzGerald | Foundation | Member of the Board of the Fetch.ai Foundation; Chief Technical Officer at Fetch.ai | Joined from Nokia Bell Labs, where he researched consensus protocols. |
Blockworks note: Labs/DevCo table source: (Source: Press & Media) |
Question
Provide a structured description of the DAO's governance, powers, and economic rights. If a DAO does not exist, state so. Address the lettered items below. Even if there is no DAO, there must be an answer to (d).
Response
No public source discloses what intellectual property, codebases, trademarks, or repositories the DAO controls or whether any on-chain governance mechanism holds formal IP rights.
On-chain governance is the mechanism through which participants collectively decide rules, parameters, policies, upgrades, and broader network direction. Any FET holder can submit a proposal; proposals require a deposit above the on-chain minDeposit threshold; any bonded FET holder can vote; proposals pass with more than 50% Yes votes and less than 33.33% NoWithVeto votes, excluding abstentions. An operational constraint on participation exists: only users delegating FET on the Fetch.ai mainnet could cast votes for the 2025 upgrade through the existing governance module.
(Source: Governance, Mainnet Upgrade)
Governance participation requires running a validator or delegating stake. FET secures the mainnet through staking and enables decentralized governance. Validators have a greater say in the future direction of the protocol through governance; smaller holders can delegate FET to validators for a share of rewards. Double-signing or prolonged downtime can slash both validator stake and delegated stake. Staking or bonded status provides proposal-voting rights over network rules and parameters; cited public materials do not disclose a broader tokenholder right to direct off-chain entity decisions or receive revenue distributions.
(Source: Governance, Getting Started with FET Token, Validators)
FET provides the economic incentive and governance framework for the network and is used for staking, agent interactions, smart contract execution, and access to AI tools, datasets, and compute resources. No cited public source discloses a direct tokenholder right to protocol revenue distributions or treasury withdrawals.
(Source: The ASI Network, Getting Started with FET Token)
No public source identifies who can dissolve the DAO or by what mechanism.
Question
For the Primary Foundation do the following independently. If an entity does not exist, state that explicitly. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist.
Definitions: The primary Foundation and DevCo can be explained as those entities which are directly involved in the issuance of the native token at launch.
Response
Two distinct foundation entities are publicly associated with Fetch.ai at different stages. The launch-era primary foundation entity is Fetch.AI Foundation Pte Ltd, a company incorporated in Singapore with registration number 201810667K, with a registered address at 50 Raffles Place #32-01, Singapore Land Tower, Singapore 048623. A second, currently operating foundation entity is the Fetch.ai Foundation, a non-profit organization (stichting) incorporated in the Netherlands, founded and governed by representatives from Fetch.ai and Bosch, which describes its mandate as advancing innovative technology in artificial intelligence and distributed systems.
(Source: Fetch.ai Foundation, FET Token Overview 2019)
The launch-era token overview states that Fetch.AI Foundation Pte Ltd had rights to use any intellectual property of the Fetch.AI protocol and platform. No public source discloses what IP rights, if any, have been assigned to or retained by the current Netherlands-based Fetch.ai Foundation, or the scope of any subsidiary entities.
(Source: FFET Token Overview 2019)
The launch-era token overview assigns the foundation's sole purpose as issuing and distributing FET and native Fetch.AI tokens, overseeing development and maintenance of the Fetch.AI protocol and platform, and overseeing the fair and proper operation of the Fetch.AI network. No public source discloses formal thresholds or current powers over on-chain governance, treasury actions, or reward-parameter changes held by either foundation entity.
(Source: FET Token Overview 2019)
No public source discloses whether the Fetch.ai Foundation (Netherlands) or Fetch.AI Foundation Pte Ltd (Singapore) can exert direct or indirect influence over decision-making at Fetch.ai Limited or any related development entity.
No public source discloses pause, upgrade, or governance-executor authorities held by the foundation, or the thresholds for each.
The 2019 token overview states the issuer retained 20% of tokens vesting over four years to support and develop the Fetch.AI ecosystem. The same source states any unsold sale tokens would remain with the issuer for allocation no sooner than 12 months after TGE and be released periodically over 24 months, while an additional 17.4% of FET would be released to the community no sooner than 12 months after TGE over a staged five-year period, with no more than one-third released in any one year. No cited public source discloses any currently operative governance-approved or contractual mechanism by which the Netherlands-based Fetch.ai Foundation receives protocol revenue, fees, or ongoing token distributions.
(Source: FET Token Overview 2019)
Question
For the Primary DevCo do the following independently. If an entity does not exist, state that explicitly. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist.
Definitions: The primary Foundation and DevCo can be explained as those entities which are directly involved in the issuance of the native token at launch.
Response
The operating development entity is Fetch.ai Limited (Companies House number 15446341), a private limited company incorporated in England and Wales on January 27, 2024, with a registered address at 18 Langton Place, Bury St Edmunds, Suffolk, England, IP33 1NE. A predecessor entity, FAI Realisations 2024 Limited (formerly Fetch.AI Limited, Companies House number 11203766), was also incorporated in the United Kingdom. The fetch.ai terms of service identify fetch.ai as a trading name of uVue Ltd, a separate entity whose incorporation details were not identified in cited public sources.
(Source: Companies House — Fetch.ai Limited, Companies House — FAI Realisations 2024 Limited, Terms of Service)
No public source discloses what IP, codebases, trademarks, or repositories are owned or controlled by Fetch.ai Limited, uVue Ltd, or any subsidiary.
No public source discloses formal powers held by Fetch.ai Limited over on-chain governance, treasury actions, protocol-controlled resources, or reward parameters.
No public source discloses whether Fetch.ai Limited can exert direct or indirect influence over decision-making of the Fetch.ai Foundation (Netherlands) or Fetch.AI Foundation Pte Ltd (Singapore).
No public source discloses pause, upgrade, or governance-executor authorities held by Fetch.ai Limited.
No cited public source discloses any currently operative governance-approved, contractual, or programmatic mechanism by which Fetch.ai Limited, uVue Ltd, or their equityholders receive protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions.
Question
Disclose launch and initial supply details in a single initial allocation schedule covering the token's launch.
Response
Fetch.AI Foundation Pte Ltd issued 1,152,997,575 FET at TGE, initially as ERC-20 tokens on Ethereum. In May 2024, Fetch.ai minted an additional 1,477,549,566 FET to support the ASI token exchange mechanism, bringing the total supply to 2,630,547,141 FET. The September 2024 CUDOS integration added approximately 88.9 million FET to the supply through conversion at 112.427 CUDOS per FET. The current total supply, reflecting post-merger token flows from AGIX, OCEAN, and CUDOS conversions, is approximately 2,714,384,546 FET, with approximately 2,258,881,094 FET in current circulating supply as of June 2026. (Source: FET Token Supply Increase — Fetch.ai Blog, CUDOS Integration Vote — FXStreet, ASI Alliance Explained — Datawallet, CoinMarketCap, CoinGecko)
The launch-era token overview provides the following public allocation schedule for the original 1,152,997,575 FET. The post-merger allocation, as tracked by Tokenomist, reflects the expanded total supply inclusive of AGIX and OCEAN migration tokens.
Original TGE allocation (1,152,997,575 FET) — Category | Publicly Disclosed Allocation and Use:
Post-merger allocation breakdown (2,714,384,546 FET total, per Tokenomist) — Category | % of Total Supply:
The public Binance Launchpad round had a hard cap of $6 million for 6% of the original supply. The Binance Launchpad sale began on February 25, 2019 at 14:00 UTC.
(Source: FET Token Supply Increase — Fetch.ai Blog, ASI Token Merge — Medium, Tokenomist)
The launch-era token overview states that the quantity and price of FET available in the public sale had not been determined at the time of that February 2019 document, so no fixed TGE price was disclosed in cited public sources for this filing.
(Source: FET Token Overview 2019)
The token launched as FET. Following the July 1, 2024 ASI Alliance merger, the token began transitioning to the ASI ticker. As of June 2026, the token continues to trade on most exchanges and data aggregators under the FET ticker, representing the Artificial Superintelligence Alliance.
(Source: ASI Token Merge — Medium, CoinMarketCap)
The original 2019 token overview stated the total supply was fixed at 1,152,997,575 FET with no further tokens to be created. That fixed-supply regime was altered in May 2024 when Fetch.ai minted an additional 1,477,549,566 FET to support the ASI exchange mechanism, resulting in a revised total supply of approximately 2,630,547,141. The CUDOS integration approved by community votes in September 2024 added approximately 88.9 million FET through conversion at 112.427 CUDOS per FET. The current post-conversion total supply is approximately 2,714,384,546 FET, reflecting remaining unconverted AGIX and OCEAN allocations. Approximately 270 million OCEAN across roughly 37,000 wallets remained unconverted at Ocean Protocol's October 2025 withdrawal, and the conversion bridge remains open indefinitely at 0.433226 FET per OCEAN, so total FET supply continues to expand as holders convert. In addition, the Fetch.ai validator documentation discloses a 3% annual inflation rate during the first three years of network operation. The supply is therefore no longer fixed. (Source: FET Token Supply Increase — Fetch.ai Blog, ASI Alliance Explained — Datawallet, ASI Alliance Members — Phemex Academy, Validators, CoinGecko)
The launch-era token overview discloses the following vesting and release logic. Private-sale tokens had a three-month lockup followed by linear vesting over months 4, 5, and 6. Public-sale tokens were listed with no vesting. Future releases were to begin no earlier than 12 months after TGE over up to five years, with no more than one-third released in any one year. Unsold tokens were to remain with the issuer until at least 12 months after TGE and then be released over 24 months. Founders had a three-month lockup followed by quarterly vesting of 50% in year 1, 25% in year 2, and 25% in year 3. Advisors vested in line with founders, and mining tokens were to be introduced over five years with the release rate tied to network economic performance. The same source states the issuer's retained 20% would vest over four years. The adjacent narrative sentence in that same document states that tokens issued to advisors, founders, and the foundation were subject to vesting periods of three years, creating a contradiction on foundation vesting duration that has not been resolved in cited public sources. CUDOS conversion tokens from the September 2024 integration were subject to a 3-month public vesting period and a 10-month treasury vesting period. Per Tokenomist, the next scheduled unlock as of June 2026 is June 28, 2026, releasing 2.59 million FET for AGIX Migration. Approximately 83% of total supply has been unlocked as of June 2026. (Source: FET Token Overview 2019, CUDOS Integration Vote — FXStreet, Tokenomist)
Question
Address each of the following sub-items based on the project's airdrop status. If a sub-item does not apply to the project's situation, state that explicitly.
Response
Planned but not yet executed airdrop: This item does not apply. The project has no planned or pending airdrop.
(Source: Fetch Discord Security Update, Discord Hack Wrap Up)
Executed airdrop: This item does not apply. The project has never conducted an airdrop of the native token. The FET token launched through the Binance Launchpad IEO in February 2019, and the original allocation schedule contained no airdrop bucket, dividing supply among public sale, seed and private sale, founders and team, advisors, ecosystem, mining rewards, and issuer categories. The 2024 ASI Alliance token merger converted AGIX, OCEAN, and CUDOS into FET at fixed exchange rates through opt-in migration contracts, which is a token conversion mechanism rather than an airdrop.
(Source: Binance Research FET, ASI Token Merger, ASI Migration Launch)
Question
Projects must disclose all material terms of market-making arrangements that affect token liquidity. If the project has no agreements or deals with market makers, state that explicitly; doing so earns full credit. For each market maker, include in a table:
If the project has no agreements or deals with market makers, state that explicitly; doing so earns full credit. If no native tokens were loaned or allocated to market makers, state that explicitly; cash/fiat retainers or fees are not required for this item.
Response
Blockworks note: DWF Labs has served as a market maker for Fetch.ai. DWF Labs received on-chain token transfers from Fetch.ai on at least two documented occasions: a transfer of 10 million FET (approximately $12 million at the time) confirmed in September 2024, and a subsequent transfer of 5 million FET (approximately $7 million) approximately three weeks later. DWF Labs also led a $40 million investment into Fetch.ai in March 2023, structured as a mix of equity and FET tokens. The material terms of the market-making arrangement — including token allocation as a percentage of total supply, duration, and agreement structure — are not publicly disclosed.
(Source: DWF Labs Receipt of $12M FET — CoinGape, Fetch.ai DWF Labs Investment — The Block, Fetch.ai DWF Labs Blog)
Question
Projects must disclose all material terms of centralized or decentralized exchange listings that affect token liquidity. For each listing, include in a table:
If the project has no agreements or deals with CEX or DEX, state that explicitly; doing so earns full credit; cash/fiat fee amounts are not required for this item.
Response
Blockworks note: FET launched via an Initial Exchange Offering on Binance Launchpad on February 25, 2019. Binance also automatically converted AGIX and OCEAN tokens held on the exchange to FET at fixed rates during the July 2024 ASI Alliance merger phase. No public source discloses the material terms of any current CEX or DEX listing agreements, token allocations committed for listing, duration of any listing lockups, or whether listing fees were paid in native tokens.
(Source: FET Token Overview 2019, ASI Merger IQ.wiki)
Question
Disclose all prior token sales by the Project — including fundraising rounds, any material OTC sales to investors, and any discounted market-maker sales. For each sale, provide:
If no prior sales occurred, state that explicitly (e.g., "No prior fundraising, OTC, or discounted MM sales have occurred.").
Response
Blockworks note: The 2019 token overview discloses a 17.6% Token Sale allocation comprising seed and private rounds plus the Binance Launchpad public sale. The roadmap identifies a private sale launch in Zurich in Q2 2018. Fetch.ai has separately raised equity and token funding through multiple post-TGE rounds.
(Source: FET Token Overview 2019, Fetch.ai DWF Labs Investment — The Block, Tracxn Funding)
Printed table header combined series and instrument as a single column, "Series Name / Investment Vehicle"; the combined cell text is recorded under series_name.
Question
If any, list prior exploits or incidents that directly affected the token, token supply, tokenholder balances, token contract, minting controls, burn mechanics, or custody of token supply. This question is not asking about general protocol, application, or smart contract exploits unless the incident directly affected the native token itself.
If no prior incidents, state this explicitly (e.g., "No exploits affecting tokenholders or protocol funds as of YYYY-MM-DD").
Response
Community-channel compromise: 2023-08-12; Fetch.ai Discord server.
Mainnet vulnerability remediation: 2025-04-01; Fetch.ai mainnet IBC module.
ASI Alliance / Ocean Protocol token dispute (active litigation): October 2025 onward; ASI Alliance governance and FET token supply.
Community-channel compromise: An unauthorized actor compromised the official Discord server and used fake Fetch.ai websites and a fake Twitter account to pose as official giveaway communications and phish wallets.
Mainnet vulnerability remediation: Security advisory ASA-2025-004 identified a critical security concern affecting cross-chain transactions in the IBC module.
ASI Alliance / Ocean Protocol token dispute: Fetch.ai CEO Humayun Sheikh alleged that Ocean Protocol converted approximately 661 million OCEAN tokens minted in 2023 into approximately 286 million FET tokens in July 2025, then sold approximately 263 million of those FET tokens without disclosure, constituting over 10% of circulating supply at the time.
Community-channel compromise: The cited update does not disclose a quantified loss of protocol funds or user funds.
Mainnet vulnerability remediation: The cited notice states the network resumed with no changes to APIs or chain state and discloses no loss of funds.
Question
Describe material risk factors across the three categories below. Each category includes prompts to address at a minimum.
(a) Regulatory, Legal & Tax Risks — Describe how evolving laws and regulations could affect the project by answering, at a minimum, questions like:
Impact of Regulatory Change on TGE and Listings: (If applicable) How could evolving or conflicting laws and regulations affect your ability to complete the TGE, deliver tokens to purchasers, and list or maintain the token on trading venues in key jurisdictions?
Entity-Level Regulatory Impact: (If applicable) How could regulatory or legal changes impact your core entities (Foundation, DevCo, DAO, affiliated service providers), including enforcement actions, licensing requirements, or forced changes to structure or operations?
Tokenholder Tax Treatment: (If applicable) What uncertainties exist around how tokenholders may be taxed, and make clear that tokenholders are responsible for understanding their own tax obligations?
Jurisdictional & User Access Restrictions: (If applicable) If the project restricts access for certain jurisdictions or user types (e.g., U.S. persons, sanctioned countries, retail vs. professional), what are those restrictions and what risks do they create for users and for the project?
(b) Protocol, Technology & Security Risks — Describe risks to network and contract reliability, correctness, and safety by answering, at a minimum, questions like:
Bugs and Design Flaws: (If applicable) What bugs, design flaws, or implementation errors could exist in your core protocol code, smart contracts, and any bridges, rollups, or oracles that you depend on, and how could these lead to loss of funds or disruption of the protocol?
Security Measures & Their Limitations: (If applicable) What security measures have you taken (audits, formal verification, bug bounties), and what types of failures might these measures still fail to detect or prevent?
(c) Token Economics, Unlocks & Incentive Risks — Describe how the token's economic design and supply schedule could affect holders by answering, at a minimum, questions like:
Critical Economic Assumptions: (If applicable) Which economic assumptions (e.g., staking yields, fee revenue, liquidity incentives, MEV capture, demand for blockspace) are critical for protocol security, utility, and governance, and what happens if those assumptions fail?
Question
Identify to the best of your ability the token's current deployments across chains, including project-issued deployments, project-endorsed representations, and, if possible, documented third-party wrapped or bridged representations.
For each entry, provide:
Multiple entries on the same chain are permitted.
Definition: A protocol-level asset is an asset whose balances and transfers are handled directly by the blockchain's core rules, rather than by a token smart contract. For protocol-level assets without a token contract address, enter "No contract address" and identify the asset and chain.
Response
This Token Transparency Filing is provided for general informational purposes only and does not verify or warrant the accuracy of individual answers.
No airdrop planned or conducted: The project has never conducted an airdrop of the native token and has not disclosed any plan to conduct one. FET launched through the Binance Launchpad IEO on February 25, 2019, with all 69,204,152 public sale tokens sold to sale participants and distributed through Binance. In August 2023, Fetch.ai publicly confirmed that it had never offered a token airdrop since launch. That statement followed a security incident in which an unauthorized actor compromised the official Fetch.ai Discord server and promoted a fraudulent airdrop offer. The fraudulent offer was not an airdrop conducted by the project.
(Source: Fetch Discord Security Update, Discord Hack Wrap Up, Binance Launchpad FET Results)
Blockworks note: The AGIX, OCEAN, and CUDOS migrations into FET under the ASI Alliance merger required holders to actively convert their tokens at fixed rates (0.433350 FET per AGIX, 0.433226 FET per OCEAN, 112.427 CUDOS per FET) through migration contracts. These conversions preserved existing holder value at predetermined ratios and did not distribute new tokens to user segments based on eligibility criteria, so they do not constitute airdrops under this item.
(Source: ASI Token Merger, Phemex ASI Alliance Overview)
ASI Alliance / Ocean Protocol token dispute: Fetch.ai estimated the value of tokens at issue at approximately $120 million. FET/ASI price declined approximately 93% from its post-merger peak. Ocean Protocol disputed the characterization, asserting the tokens belonged to Ocean Expeditions, a legally separate entity.
ASI Alliance / Ocean Protocol token dispute: Ocean Protocol withdrew from the ASI Alliance on October 9, 2025. Fetch.ai CEO Humayun Sheikh publicly offered in late October 2025 to drop all legal claims if Ocean Protocol returned 286 million FET, and those talks did not conclude in an executed agreement. Fetch Compute, Inc. and three token holders filed a class action lawsuit in the Southern District of New York on November 4, 2025 (case no. 1:25-cv-9210) against Ocean Protocol Foundation Ltd., Ocean Expeditions Ltd., OceanDAO, and Ocean co-founders Bruce Pon, Trent McConaghy, and Christina Pon. Plaintiffs filed a First Amended Complaint on March 17, 2026.
(Source: Ocean Withdrawal — The Block, Settlement Offer — Yahoo Finance, CryptoSlate — Fetch Sues Ocean, S.D.N.Y. Docket 1:25-cv-9210)
ASI Alliance / Ocean Protocol token dispute: Active litigation. Defendants filed a consolidated motion to dismiss the First Amended Complaint for lack of personal jurisdiction or failure to state a claim on April 30, 2026. Per the court's March 30, 2026 scheduling order, plaintiff responses were due June 5, 2026 and defense replies were due June 26, 2026. The motion remains pending and no settlement, dismissal, or judgment appears on the public docket.
(Source: S.D.N.Y. Docket 1:25-cv-9210)
Community-channel compromise: Fetch Discord Server Compromised: Update, Discord Hack Wrap Up
Mainnet vulnerability remediation: Fetch.ai Mainnet Upgrade: Security Enhancements & Operational Updates
ASI Alliance / Ocean Protocol token dispute: CryptoSlate — Fetch Sues Ocean, Yahoo Finance — Ocean vs. Fetch.ai, Phemex News — ASI Alliance Merger Fails
Blockworks note: No exploit affecting protocol funds or smart contract assets has been identified in cited public sources as of June 17, 2026. The public record includes the following disclosed security incidents and security-response events. Three separate incidents were reported under one set of lettered fields: "Community-channel compromise", "Mainnet vulnerability remediation", and "ASI Alliance / Ocean Protocol token dispute (active litigation)"; each sub-field above carries all three incidents, labeled by incident.
Governance Control over Monetary Policy & Rewards: (If applicable) To what extent can governance change monetary policy, fee parameters, or reward allocations (e.g., inflation rate, treasury flows, incentive programs), and how could such changes adversely affect tokenholders?
Response
The fetch.ai terms of service identify fetch.ai as a trading name of uVue Ltd and state that taxes imposed by local authorities remain the responsibility of the user placing the order. Fetch.ai has disclosed that it moved crypto operations to Dubai while maintaining the Fetch.ai Foundation's base in the Netherlands. The Netherlands-based Fetch.ai Foundation is described in public materials as a non-profit organized under Dutch law. The original token issuer, Fetch.AI Foundation Pte Ltd, was incorporated in Singapore. This multi-jurisdictional structure — operations in the United Arab Emirates, foundation in the Netherlands, original issuer in Singapore, development entities in the United Kingdom — creates regulatory exposure across multiple frameworks, and changes in any of those jurisdictions' laws governing digital assets, AI services, or non-profit entities could require structural or operational changes.
The ASI Phase 1 update disclosed that remaining migration solutions were still needed for holders on Cardano and BNB Chain and that the final ticker change from FET to ASI depended on third-party alignment. Exchange or regulatory action in any of those jurisdictions could affect token-delivery and venue-maintenance outcomes during the transition. No specific jurisdiction-by-jurisdiction user restrictions beyond general lawful-use and fraud-related limits were identified in cited sources.
The active litigation (case no. 1:25-cv-9210, S.D.N.Y.) arising from the Ocean Protocol dispute creates direct legal and financial risk to the project and to the credibility of ASI Alliance governance representations made to token holders during the merger period. Plaintiffs filed a First Amended Complaint on March 17, 2026, and a consolidated defense motion to dismiss filed April 30, 2026 remains pending. Settlement discussions in October 2025 did not conclude in an executed agreement, and no resolution terms appear on the public docket.
(Source: S.D.N.Y. Docket 1:25-cv-9210, Terms of Service, Dubai Operations Update, Fetch.ai Foundation, ASI Phase 1 Update, CryptoSlate — Fetch Sues Ocean)
Protocol and ecosystem security depends on governance-led upgrades and validator execution. The 2025 mainnet upgrade addressed ASA-2025-004 in the IBC module, required proposal #35, and involved a planned network halt and validator coordination. Validators determine protocol direction through governance, the ledger source code is maintained on GitHub, and double-signing or prolonged downtime can slash both validator stake and delegated stake. The 2023 Discord compromise — which led to phishing sites and a fake Twitter account — demonstrates that users face security risk through official-channel impersonation in addition to core network software issues. Fetch.ai added security measures after the Discord incident and monitored the 2025 mainnet upgrade, but cited public sources do not claim those measures eliminate all undisclosed software, validator-operations, or social-engineering risks.
(Source: Mainnet Upgrade, Validators, Discord Security Update, Discord Hack Wrap Up)
FET underpins staking-based security, decentralized governance, agent registration and interaction, micro-payments, smart contracts, and access to AI tools, datasets, and compute resources. Tokenholder value depends materially on continued agent usage, staking participation, and demand for network services. Validator economics depend on block rewards, transaction fees, delegation, and a 3% annual inflation rate during the first three years of network operation; weak demand, validator underperformance, or governance changes can affect network participation and holder economics.
The original 1,152,997,575 FET fixed supply was altered materially in May 2024 when 1,477,549,566 additional FET were minted for the ASI exchange mechanism — a 128% increase to the supply base. Ocean Protocol's alleged conversion and sale of approximately 263 million FET (estimated at over 10% of circulating supply at the time of sale) created a documented overhang with material price impact. The FET/ASI token declined approximately 93% from its post-merger peak of $3.22 to approximately $0.21 as of June 2026. Approximately 17% of total supply remains locked and subject to future scheduled unlocks, including ongoing AGIX migration cliff releases. Governance controls rules, parameters, policies, and network direction; governance changes could alter economic parameters or operational priorities in ways that affect holders over time.
(Source: Getting Started with FET Token, The ASI Network, Validators, FET Token Supply Increase — Fetch.ai Blog, ASI Phase 1 Update, Tokenomist, CoinGecko, Yahoo Finance — Ocean vs. Fetch.ai, Governance)
