Token Description & Project Background

The Assemble Protocol is a blockchain-based network that seeks to aggregate reward points such as Airmiles with point providers, consumers, and retailers. 

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.

ASM is necessary to engage with all that the platform provides such as paying fees, transacting within the platform, and staking.

The ASM token was launched via ICO in September 2020, selling 25% of the total supply.

The Active Participants are Park Kyu Do (CEO) & LeeSung Hyen (CTO).

Risks of ASM

Like an investment in other crypto assets, there are some general risks to investing in ASM. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in ASM is subject to the following specific risks:

• Any potential success associated with the ASM token is dependent on Assemble Protocol’s rate of adoption by users and brand partners.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with ASM. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The ASM community and Assemble Protocol founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of ASM have no recourse to the ASM community, Assemble Protocol founding team, or Uphold if ASM declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing ASM on the Uphold Platform, Uphold performed due diligence on ASM and determined that ASM is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

• The creation, governance, usage, and design of ASM, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of ASM.
• Any marketing materials put forward by the ASM social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with ASM, including any code defects, security breaches and other threats concerning ASM and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
• Legal and regulatory risks associated with ASM, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of ASM. 

General

Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on June 19, 2023.