Loki was a rogue Asgard scientist.
He planned on finding a way to cure his species from the decay of their genome caused by their constant cloning. In 1984, his actions were discovered, and the Asgard High Council stripped him of his title, then banished him.
After Colonel Jack O'Neill had downloaded the information from the Ancients Repository of knowledge into his brain, it had become clear to the Asgard that human biology had evolved to a point beyond the assumptions of the Asgard. After this information was shared with the entire Asgard population, Loki came to believe that O'Neill's DNA could prove to be the key to solving the Asgard's cloning problems.
Four years after that, Loki got his chance. While the majority of the Asgard were searching for a new home after their previous home was destroyed by the Replicators, Loki came to Earth in order to do genetic research on O'Neill. In order to accomplish this, Loki cloned O'Neill so he could study the original for a prolonged period of time without arousing suspicion of Stargate Command. However, due to a marker placed in O'Neill's DNA by the Asgard government, the clone stopped his rapid maturation in his teens, rather than becoming fully mature.
After the cloned O'Neill remembered being abducted by the Asgard, the SGC suspected foul play and searched for a way to capture the unknown Asgard. While researching O'Neill's dream, they encountered more people who experienced the same situations as the Colonel. However, none of them ended up becoming younger. SG-1 developed a plan to capture the Asgard, and when Loki beamed up the young O'Neill, the clone was able to stun the Asgard with a Zat'nik'tel. Afterwards he beamed up his teammates, who discovered the Asgard's identity. Shortly thereafter, Thor arrived and revealed that Loki has been doing non-sanctioned experiments on humans for some time. Thor also reveals that the solution to their cloning problems that Loki was seeking in his study of O'Neill had already been explored thoroughly by Asgard scientists without success. A visibly angry Thor took Loki into custody, and his experiments appear to have come to a halt. It is unknown if Loki died along with the rest of the Asgard when they committed mass suicide, but it is quite likely. (SG1: "Fragile Balance")
It is quite likely that Loki's persistent abductions of and unauthorized experiments on humans are the source of the majority of the UFO and alien abduction reports circulated in Tau'ri media.
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