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About Assemble Protocol (ASM)
Billed as a global points integration platform, South-Korean-based Assemble Protocol allows users to accumulate and tokenize rewards from a network of integrated retailers/e-commerce platforms. The protocol is positioned as a solution to predicaments facing both point providers (i.e., enterprises/retailers) and consumers who collect them. While a wide range of industries (airlines, hotels, gas stations, retailers, more) offer rewards, these points are often siloed and can’t be integrated together. Moreover, rewards are often rigid in terms of utility.
Assemble looks to address these issues by creating an open marketplace where consumers can accumulate, tokenize and spend their rewards on various goods and services from platform-supported merchants.
A two-token framework is used to bolster utility, the protocol’s whitepaper explained.
ASP, a non-transferable payment token pegged to the Korean won, is the means by which consumers tokenize and spend reward point obtained via the platform’s network of retailers.
ASP can be exchanged for ASM, an ERC20 staking token that allows consumers to monetize their point-based rewards. Staking ASM unlocks various benefits/incentives across the network. All retailers are required to pledge a sum of ASM prior to providing points or selling good/services on the Assemble Marketplace.
For retailers and e-commerce sites, Assemble provides a proprietary API plug-in that allows for easy integration with the network. Once on board, Assemble’s underlying data infrastructure allows merchants to leverage customer/sales information to create targeted, consumer-focused advertisements.
As of June 2022, Assemble had partnered with a series of leading Korean e-commerce sites including fashion-bazar STA1 and ticket provider ClubPass. The protocol has more than 2.8 million users worldwide.
When was Assemble Protocol (ASM) created and how much was it worth?
Some 375,000,000 ASM tokens – 25% of total supply - were released via an initial coin offering (ICO) in 2020.
As of early June, ASM was valued at $0.045. According to CoinGecko, ASM consolidated over its first nine months of existence before catapulting to an all-time high of $0.64 in April of 2021. The token’s price has been volatile since.
How is the price of ASM determined?
ASM is a deflationary asset with a hard cap of 1.5 billion tokens. According to the protocol’s whitepaper, 25% of ASM’s initial supply (375 million) was initially distributed via an ICO in 2020.
Of the remaining total supply, some 12% were earmarked for network development, while an additional 28% went to Assemble’s founders, team and early advisors. As of June 2022, there were 1.14 billion ASM in circulation. Future price prospects will likely be a factor of network demand.
Why does ASM have value?
The platform’s ability to facilitate the accumulation, tokenization and utilization of digital rewards is an idea that would seem to have traction, and underscores its value proposition.
Is ASM secure?
*ASM has been able to secure major partnerships with top e-commerce platforms with some 800,000 users, according to Yahoo Finance.
*ASM is also listed on South Korean exchange Bithumb, highly regulated.
*ASM has been added to Coinbase Custody.
What are the main benefits of ASM?
- Assemble’s native staking token, ASM, allows users to directly monetize their digital retailer rewards points.
- Assemble allows consumers to accumulate and spend tokenized rewards.
- Assemble is partnered with a series of leading South-Korean e-commerce sites like SAT1 and ClubPass.
- As of June 2022, the protocol supported a global contingent of 2.8 million users.
What do critics say about ASM?
ASM has traded on low volume recently, InvestorsObserver said in May 2022. Due to a lack of data, this crypto may be less suitable for some investors, the site cautioned.
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