Assemble AI (ASM) news

What is ASSEMBLE Protocol (ASM)?

ASSEMBLE Protocol (ASM) is a blockchain-based platform that aims to consolidate global reward points from various e-commerce systems. The platform offers a convenient way for both users and merchants to collect, control, and utilize reward and loyalty points. Users can redeem their accumulated points to purchase items and services on the ASSEMBLE Marketplace or exchange them for ASM tokens, which can be traded for cash on supported exchanges.

How does ASSEMBLE Protocol (ASM) Work?

As per the whitepaper, the ASSEMBLE Protocol is a platform based on Ethereum that incorporates the three key components of e-retail:

- Point providers (companies)

- Point consumers (customers served by companies)

- Retailers (individuals and companies that use the platform for their sales channels and advertising tools)

Currently, customers who have accumulated points from various sources are unable to merge or convert them into a single point using the available point management facilities. This means that they cannot use or exchange their reward points as frequently as they would like, as they can only be used at a single franchise store.

What makes ASSEMBLE Protocol (ASM) Unique?

The ASSEMBLE protocol aims to revolutionize the loyalty points industry by creating an ecosystem that benefits all stakeholders. It uses a three-pronged approach consisting of Point Exchange, Marketplace, and Data Infrastructure. Point Exchange (PX) enables users to convert their rewards points into a single loyalty point called ASP (ASSEMBLE points). Using ASPs, users can pay for goods and services from partner organizations on the Marketplace (MP). The ASSEMBLE Protocol also provides a framework for point providers to develop data management systems, including designing advertising campaigns. Furthermore, it prevents the loss of millions of unused rewards points every year.

What is the ASM Token?

The ASSEMBLE Protocol's utility token is called ASSEMBLE Token (ASM), which can be exchanged for ASSEMBLE points. This is a unique feature as traditional loyalty programs do not allow users to transfer their external reward points. Additionally, ASM tokens can be traded for cash and used to pay for platform fees, advertising, and other digital assets. The development team hopes to increase the value of ASMs through regular buyback policies once the platform gains traction.