Fetch.AI ("the Project") brings together machine learning ("ML"), artificial intelligence ("AI"), multi-agent systems and decentralized ledger technology to create an economic internet — an environment where digital representatives of the economy's moving parts (such as data, hardware, services, people and infrastructure) can get useful work done through effective introductions and predictions.
KEY FEATURES & HIGHLIGHTS
- Digital infrastructure for deployment of Multi Agent Systems
- Unique scalable ledger to support high transaction rates
- Synergetic computing: Intelligent smart contracts for autonomous systems
- Economic framework for governing dynamic marketplaces
- Semantic, geographic and decision based navigation for autonomous agents to deliver seamless problem solving
WHAT IS FET?
Fetch's goal is to automate a limitless number of markets which currently require tremendous manual intervention. Autonomous economic transactions will deliver near-frictionless marketplaces, operating at digital speed.
Fetch.AI envisages a world in which everyone owns numerous economic agents on the Fetch.AI platform which operate in series or in parallel to construct solutions to today’s and tomorrow’s complex problems which are far more elegant and efficient than humans can produce.
- Near-autonomous system integration for multiple components of a complex system
- Easy integration and use of ML/AI outcomes into decision making without too much understanding of ML/AI techniques
- Collective intelligence between machine intelligence and human intelligence to create a non siloed AI model, improving decision making processes
FET Token Ecosystem
There will be a fixed number of divisible tokens that are used on the Fetch.AI network as the digital currency for all transactions, as well as for network operations such as secure communications. Tokens can also constitute an access deposit for both nodes and agents wishing to perform certain operations (as a security mechanism to discourage malicious behavior).
Token allocation has been divided amongst public sale, seed investors & private sale, founders & team, advisors, ecosystem, mining rewards, and issuer.
FET Token Release Schedule
The following chart represents the number and breakdown of all FET tokens that are intended to be released into circulation on a monthly basis.
Various tranches of token lockups and vesting schedules are detailed as follows:
- Public Sale: No lockup after TGE
- Private & Seed Sale: 3-month lockup after TGE, vesting monthly over 3 months thereafter
- Founders & Team: 3-month lockup after TGE, vesting quarterly over 3 years thereafter
- Advisors: No lockup after TGE. Vesting quarterly over 3 years
- Future Release: Targeted monthly release 12 months after TGE
- Mining Release: Targeted monthly release 6 months after TGE
- Foundation: No lockup after TGE, vesting monthly over 4 years
FET Token Overview & Use Cases
FET Token Utility: When the Fetch.AI mainnet is launched, the Fetch.AI token allows for autonomous economic agents to get things done on the network.The Fetch.AI token is the key method of value exchange on the Fetch.AI network. It is required for all network exchanges, as a method of registering with the network, for staking and as a mechanism for delivering value back to those performing work on the network.
Fetch’s token allows agents access to the digital world. It enables them to exist in this world, in multiple locations, and explore it looking for other agents to deliver value to or gain value from. This value can be in the form of access to services, data, infrastructure, or data processing via AI and ML algorithms.
PRODUCT & METRICS
Because the product is at testnet stage, there are no metrics on downloads, DAUs or any other usage or product metrics at this time. However, here's a conceptual diagram on how the Fetch.AI ecosystem is intended to work:
The ledger is scalable by design, so its exact performance will vary depending on the configured resources available in the processing nodes. In private tests, Fetch.AI has achieved speeds in excess of 30,000 transactions per second. It is expected that Fetch.AI will gradually increase resources allocated to the test network as demand increases over time.
It is expected that at its inception, the test network will have a block time in the order of minutes. This conservative value will be reduced over time to reflect improvements to the consensus protocol and progressively more realistic test network deployments.
The Open Economic Framework
This is a second-layer protocol that provides services to agents. Agents connect to the OEF in order to find, negotiate with, and then do business with other agents on the network. It is designed to present agents with semantic, geographic and economic views on the world. Nodes can either be pure ledger nodes or ledger/OEF nodes. In the initial implementations, the OEF nodes come in two classes: "trusted" and "trustless". The "trustless" nodes can be operated anonymously, similar to the pure ledger nodes. The "trusted" nodes can be granted access to additional agent information to provide intelligent search and discovery capabilities. Operators of these nodes must have a public and legal identity, and receive accreditation by the Fetch.AI Foundation.
Fetch.AI delivers a unique, decentralized environment for autonomous agents that enables effective, friction-free value exchange. These agents are able to connect, find each other and transact free of human intervention on a platform that uses AI, and in particular ML, to optimize these interactions. This approach of using high-performance, scalable DLT to enable agents to work together effectively provides the infrastructure for an "economic Internet".