Proposal to Whitelist Fetch.ai with a co-investment limit of 1M BNT
Contract address: 0xaea46A60368A7bD060eec7DF8CBa43b7EF41Ad85
Project Website: Fetch.ai
Project Documentation: https://fetch.ai/technology/
Proposed co-investment limit: 1,000,000 BNT
Discussion
Fetch.ai is building technology to power the machine-to-machine economy. This includes a novel blockchain and a generic framework for building off-chain protocols using techniques from multi-agent systems. This agent framework can be used for oracles, interchain transfers, state channels and many other applications and is tightly integrated with the Fetch ledger.
The principal goal of the Fetch.ai ecosystem is to deliver a fully autonomous, agent-based digital economy. The Fetch.ai technology stack is built using principles derived from a branch of artificial intelligence known as multi-agent systems. This approach involves solving different problems from the bottom-up by creating individual autonomous software agents that perform actions in the world to accomplish their individual objectives. By combining the actions of multiple agents, it is possible to achieve outcomes that would not be possible with centralized architectures because the environments are too complex, are spatially distributed or involve multiple stakeholders. Blockchain technology involves the design of incentives to successfully coordinate the actions of multiple disinterested parties to achieve a common goal, and can already be seen as the world’s most successful implementation of multi-agent systems. Fetch.ai is working to generalize and extend the results from this established research field into new domains in finance, supply chain, mobility, smart cities and IoT applications.
Tokenomics
Token Name: Fet
Token Type: ERC-20
Seed Sale Date: 2017 to June 2018
Seed Sale Allocation: 5.24% of Total Supply
Private Sale Date: 3rd April -10th July 2018
Private Sale Allocation 6.38% of Total Supply
FET Token Distrubtuion:
Token Release Schedule:
Fetch.AI tokens can be used for many purposes, the largest six of which are:
Ability to connect agents and nodes to the network
FET is an access deposit token that acts as a form of stake to demonstrate desire to behave appropriately. It modulates the ability for bad actors to flood the network with undesirable nodes or agents due to the escalating cost of doing so. Fetch.AI are performing modelling and simulations on their testnets (both public and private) during the first half of 2019 to determine what this stake should be.
FET has plenty of current use cases, not something that is just getting started.
See here Use cases | Fetch.ai
Value exchange between agents
The Fetch.AI token is required in order to allow for two agents, regardless of where they are, to perform a value exchange. The Fetch.AI token is infinitely divisible, thereby supporting transactions that have very low monetary value, but in aggregate provide new and profound level of insight and opportunity.
Access to search and discovery, and advertisement services
Fetch.AI tokens are needed to access, view and interact with the Fetch.AI search engine. This is a space optimized for autonomous digital entities, providing dynamic and autonomous price setting and negotiation.
Access to Fetch’s multi-dimensional digital world
Fetch.AI tokens allow agents to view and explore its digital space geographically, semantically or economically. Some of these detailed views involve considerable computing time and communications between many nodes. These more resource intensive operations will require more tokens. Fetch’s AI and ML constantly restructure this world to optimize each agent’s individual view.
Ability to access and develop ledger-based AI/ML algorithms
The Fetch.AI token enables development of and access to a broad range of machine learning and artificial intelligence tasks that are available on the ledger. These may be Fetch-developed primary services such as trust and prediction models, or they may be large-scale independently developed services for network users.
For exchange into Fetch’s operational fuel
Operation costs in Fetch.AI are decoupled from the Fetch.AI token in a similar way to that of “gas” on the Ethereum network, but with additional functionality designed to increase the stability of such a fuel and look at addressing issues associated with high and low-velocity economies. Fetch’s operational fuel allows access to processor time for contract execution and services for agents.
Community and Communication
FETCH’s Community and communication has been steadily growing.
Their telegram has 10264 members at the writing of this post.
Their Github is fairly active, with constant on going development at around 31156 contributions.
Available Audits
Certik Audit linked here.
Showing good and healthy metrics.
Market and Trading Data
Fetch’s price at the time of writing is .42. It’s all-time high was .43 8 hours ago. (3rd March 2021), and its all-time low was $0.008 (13th March, 2020). There are 746,113,681 FET tokens in circulation, of a 1,152,997,575 maximum supply. The current market capitalization is $$313,213,586. The FET token is available on major exchanges, including Binance, Bitfinex.
Current 24 hour volume is at around 55 million USD.
