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Assemble Protocol

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Discover Assemble Protocol's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Assemble Protocol?

Assemble Protocol (ASM) is a blockchain-based platform that integrates and tokenizes reward points from various industries, allowing users to accumulate, trade, and spend them on goods and services within the platform. It operates on the Ethereum network and uses a two-token system: ASP for transactions and ASM for staking and incentivizing network participants.

How is Assemble Protocol used?

The Assemble Protocol (ASM) is a blockchain-based global point integration platform that enables users to aggregate and spend reward points from various vendors. Here is how it works:

  1. Earning Points: Users earn points from shopping activities across different vendors and industries.
  2. Tokenization: These points are tokenized into ASM tokens, which can be freely used, traded, or exchanged for other assets.
  3. Marketplace: The Assemble Protocol offers a marketplace where users can spend their ASM tokens to purchase items from participating businesses.
  4. Conversion: Users can convert their ASM tokens into other cryptocurrencies or fiat currencies directly on the app.
  5. Staking: The ASM token is also used for staking, which unlocks various benefits and incentives across the network.
  6. Payment: Retailers are required to pledge a sum of ASM tokens to provide points or sell goods and services on the Assemble Marketplace.

Overall, the Assemble Protocol aims to create an open marketplace where consumers can accumulate, tokenize, and spend their rewards on various goods and services from platform-supported merchants.

How do I store Assemble Protocol?

To store Assemble Protocol (ASM) tokens, you need to follow these steps:

  1. Set up a compatible wallet: Ensure you have a wallet that supports the ERC-20 standard, as ASM is an ERC-20 token. Examples include Trust Wallet and other compatible wallets.

  2. Generate a wallet address: Open your wallet and tap the 'Receive' button to generate a QR code and wallet address. This address will be used to receive your ASM tokens.

  3. Purchase ASM tokens: Buy ASM tokens on various cryptocurrency exchanges after setting up an account and completing the necessary Know-Your-Customer (KYC) steps.

  1. Transfer tokens to your wallet: Once you have purchased the tokens, transfer them to your wallet using the generated wallet address. This ensures the secure storage of your ASM tokens.

How to buy Assemble Protocol?

To buy Assemble Protocol (ASM) tokens, follow these steps:

  1. Choose a Crypto Exchange:

    • Uphold: A top exchange in the United States and the UK, known for its ease of use and innovative features.
    • Gate.io: Another popular exchange where ASM tokens can be purchased.
    • Coinbase: Supports ASM trading, but availability might vary depending on your location.
  2. Create an Account:

    • Verify your email address and identity to set up your account on the chosen exchange.
  3. Make a Deposit:

  • Use a debit card, credit card, wire transfer, or Bitcoin (BTC) to fund your account.
  1. Buy Assemble Protocol (ASM):

    • Use your deposited funds to purchase ASM tokens. You can also trade other cryptocurrencies like USDT, ETH, or BNB for ASM.
  2. Store Your Tokens:

    • Store your purchased ASM tokens securely in your exchange wallet or transfer them to a personal wallet for long-term storage.

Additionally, you can also use decentralized exchanges (DEXs) like Uniswap, but this option is recommended for advanced users due to the complexity of DEXs.

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History of Assemble Protocol

Assemble Protocol (ASM) is a blockchain-based cryptocurrency that was launched in September 2020 via an Initial Coin Offering (ICO). The project aims to create an open marketplace where consumers can accumulate, tokenize, and spend their rewards on various goods and services from platform-supported merchants.

The ASM token is an ERC20 staking token that allows consumers to monetize their point-based rewards. Staking ASM unlocks various benefits and incentives across the network. All retailers are required to pledge a sum of ASM prior to providing points or selling goods and services on the Assemble Marketplace.

Assemble Protocol operates on the Ethereum platform and has a total supply of 1,500,000,000 tokens. The project is focused on integrating reward points from various industries, such as airlines, hotels, and retailers, into a single platform, making it easier for consumers to use and manage their points.

The ASM token has experienced significant price fluctuations, with a historical high of $0.645 in April 2021 and a historical low of $0.02739 in November 2020. The token's price has been influenced by various market trends and investor interest, with a notable spike in its trading volume and price in August 2022.

Overall, Assemble Protocol has positioned itself as a unique project within the decentralized finance (DeFi) ecosystem, leveraging blockchain technology and smart contracts to provide a more efficient and transparent way to manage and use reward points.

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How Assemble Protocol works

Assemble Protocol (ASM) is a blockchain-based platform that enables users to aggregate and spend reward points like a unified currency. The system integrates a custom rewards card, an easy-to-use Dapp, and decentralized features to allow users to manage and spend their points securely and in a peer-to-peer manner.

Earning and Converting Points

Users can earn points from various vendors and use them across the entire Assemble Protocol ecosystem. These points can be converted into ASM tokens, which can then be exchanged for other cryptocurrencies or fiat currencies directly within the Dapp. This conversion process helps prevent the loss of millions of points yearly, as users can now utilize them more effectively.

Assemble Market and Partnerships

The Assemble Market is an online mall where users can spend their ASM tokens at participating vendors. The platform has strategic partnerships with sta1.com, a fashion curation and commerce platform, and Clubpass, a ticket sales application. These partnerships expand the ecosystem, allowing users to receive discounts and purchase products using ASM tokens.

ASM Token

ASM is the native utility token of the Assemble Protocol. It is ERC-20 compliant, leveraging Ethereum's security and network validation capabilities. The token can be used for payments on the platform, staked to earn more rewards points, and transferred globally in a frictionless manner.

Key Features
  • Decentralized Finance (DeFi): Assemble Protocol operates within the DeFi sector, aiming to create financial services without traditional intermediaries like banks.
  • Blockchain Technology: The platform uses blockchain technology, ensuring transparency, security, and decentralization.
  • Smart Contracts: As part of the DeFi movement, Assemble Protocol likely leverages smart contracts for automated and trustless transactions.
Market and Trading

ASM tokens can be purchased on various cryptocurrency exchanges, such as Uphold, and have witnessed significant trading volume and price increases. The token's market cap and trading volume are substantial, indicating investor interest and market focus.

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Assemble Protocol's strengths

The token Assemble Protocol (ASM) has several strengths that contribute to its potential for growth and adoption:

  1. Legitimate Team and Creator: The team behind ASM is considered legitimate, holding a significant amount of coins in their wallets without selling any. This demonstrates their commitment to the project's success.

  2. ERC-Compliance: ASM is an ERC-compliant token, leveraging Ethereum for security and network validation. This ensures a robust and reliable infrastructure for the token.

  3. Reward Point Integration: The Assemble Protocol allows users to aggregate and spend reward points across various vendors, creating a unified currency. This feature addresses the issue of siloed points and enhances the token's utility.

  1. Decentralized Features: The protocol includes a custom rewards card, an easy-to-use Dapp, and decentralized features that enable users to manage their points securely and in a peer-to-peer manner.

  2. Strategic Partnerships: ASM has partnerships with networks like Sta1.com, expanding its ecosystem and providing users with discounts and purchase options using the token.

  3. Available on Multiple Exchanges: ASM is listed on several exchanges, including Uphold, making it accessible to a broader range of investors.

These strengths position ASM as a promising cryptocurrency project with a robust infrastructure and practical applications.

Assemble Protocol's risks

Assemble Protocol (ASM) is a blockchain-based platform that allows users to aggregate and spend reward points like a unified currency. However, investing in ASM comes with several financial risks. These risks include:

  1. Volatility Risk: The value of ASM can fluctuate significantly due to market conditions, making it a high-risk investment.

  2. Liquidity Risk: The liquidity of ASM can be low, making it difficult to buy or sell the token quickly enough or at a favorable price.

  3. Short History Risk: As a relatively new token, ASM lacks a long history of performance, making it harder to predict its future behavior.

  1. Demand Risk: The success of ASM is heavily dependent on its adoption by users and brand partners. If demand is low, the token's value may decline.

  2. Forking Risk: The possibility of a fork in the blockchain can lead to instability and affect the value of ASM.

  3. Code Defects: Any defects or bugs in the code can compromise the security and functionality of the platform, negatively impacting the token's value.

  1. Regulatory Risk: Changes in regulatory environments can affect the use, transfer, or value of ASM, and such changes can be sudden and without notice.

  2. Electronic Trading Risk: Technical issues or system failures can disrupt trading, leading to losses for investors.

  3. Cybersecurity Risk: The platform is vulnerable to cyber attacks, which can result in the theft or loss of ASM tokens.

  1. Dependence on Adoption: The success of ASM is tied to the rate of adoption by users and brand partners. If adoption is slow, the token's value may not increase as expected.

Investors should carefully consider these risks and conduct their own research before investing in ASM.

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Did Assemble Protocol raise funds?

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Assemble Protocol's ecosystem

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Assemble Protocol’s team

  • Park Kyu-Do: CEO of Assemble Protocol (ASM).
  • Seho Kim: CJ Mnet Media Analyst.
  • Jessi Lee: Legal Director at Assemble Protocol.
  • Sang Woon Kim: Back End Developer at Assemble Protocol.

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The fundamental analysis assistant for crypto value investors.

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