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AI (FET)
Powering an economic internet with ML, AI, multi-agent systems, and decentralized ledger technology
EXECUTIVE SUMMARY
Initial Circulating Supply 11% of Total Token Supply Economic framework for governing dynamic marketplaces
TEAM OVERVIEW
Semantic, geographic and decision based navigation for autonomous agents to deliver
Total Supply 1,152,997,575 FET
TRADING DATA seamless problem solving
Project Website https://Fetch.AI/
TECHNICAL OVERVIEW
infrastructure) can get useful work done through effective introductions and predictions.
APPENDIX
MISSION
Read More Reports Fetch's goal is to automate a limitless number of markets which currently require tremendous manual intervention. Autonomous economic transactions will
VALUE PROPOSITION
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
Seed Sale Allocation 5.24% of Total Supply constitute an access deposit for both nodes and agents wishing to
(2017 until April 2018) $5m round at the time of completion (3rd $10m round at the time of completion (1st (6th June - 10th July 2018)
$2,058,587 Raised April - 30th April 2018): May - 5th June 2018): Raised 2,721 ETH
Amount raised fully in fiat Raised $724,975 & 7,426.5 ETH Raised $250,000 & 14,448.99 ETH % of Total Supply: 0.53%
TOKEN SALE & ECONOMICS 10% Partnerships 25% Team 5% Professional services
Treasury
TEAM OVERVIEW
All funds raised in the SAFT rounds were credited to a multi-sig account: two keys are held by TokenMarket (independent manager of private sale round)
TRADING DATA and two keys are held by Fetch.AI executives. Three keys are required to transact.
COMPETITOR OVERVIEW
Date Sep '18 Oct '18 Nov '18 Dec '18 Jan '19 Totals
APPENDIX
Qty of ETH Converted 3,851 6,737 5,507 3,550 1,480 21,125
Read More Reports USD Value 817,195 1,301,233 830,819 334,887 208,890 3,493,023
Weighted Average ETH Price $212.20 $193.15 $150.87 $94.33 $141.14 $165.35
Note: Mining Rewards are intended to be issued in perpetuity at a decaying issuance rate.
Various tranches of token lockups and vesting schedules are detailed as follows:
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.
Fetch.AI tokens can be used for many purposes, the largest six of which are:
Ability to connect agents and nodes to the network: FET is an access deposit token that acts as a form of stake to demonstrate desire to behave
appropriately. It modulates the ability for bad actors to flood the network with undesirable nodes or agents due to the escalating cost of doing so.
Fetch.AI are performing modelling and simulations on their testnets (both public and private) during the first half of 2019 to determine what this
stake should be.
Value exchange between agents: The Fetch.AI token is required in order to allow for two agents, regardless of where they are, to perform a value
exchange. The Fetch.AI token is infinitely divisible, thereby supporting transactions that have very low monetary value, but in aggregate provide
EXECUTIVE SUMMARY
new and profound level of insight and opportunity.
WHAT IS FET?
TEAM OVERVIEW
TRADING DATA
Access to Fetch’s multi-dimensional digital world: Fetch.AI tokens allow agents to view and explore its digital space geographically, semantically
TECHNICAL OVERVIEW or economically. Some of these detailed views involve considerable computing time and communications between many nodes. These more
resource intensive operations will require more tokens. Fetch’s AI and ML constantly restructure this world to optimize each agent’s individual view.
PRODUCT & METRICS
COMMUNITY DATA
Ability to access and develop ledger-based AI/ML algorithms: The Fetch.AI token enables development of and access to a broad range of
COMPETITOR OVERVIEW
machine learning and artificial intelligence tasks that are available on the ledger. These may be Fetch-developed primary services such as trust and
APPENDIX
prediction models, or they may be large-scale independently developed services for network users.
Legal Disclaimer and Disclosure For exchange into Fetch’s operational fuel: Operation costs in Fetch.AI are decoupled from the Fetch.AI token in a similar way to that of "gas" on
the Ethereum network, but with additional functionality designed to increase the stability of such a fuel and look at addressing issues associated
with high and low-velocity economies. Fetch’s operational fuel allows access to processor time for contract execution and services for agents.
Transport
Fetch.AI is working on reducing laborious travel planning tasks by using expert autonomous economic agents to organize complex trips, predict
potential misconnections and dynamically reroute journeys, rearrange travel plans and rebooking reservations without intervention. The goal is to
improve users’ and transport providers’ efficiency, service levels and satisfaction.
Energy
Fetch.AI is working on creating a fluid energy model to deliver the most effective energy solution to households without the friction of switching
suppliers. Consumers could potentially change providers down to the minute or even by each appliance’s unique energy demands. Fetch.AI is
working with Warwick University on creating and deploying a live energy balancing simulation.
Supply Chain
Fetch.AI is enabling the trillion dollar steel sector to autonomously and collaboratively self-manage. It is now able to optimize its supply chain from
the raw materials to the finished product, giving it the opportunity to massively reduce costs and improve efficiency.
Fetch.AI is also working on building collective prediction models to improve efficiency in cargo rail route in collaboration with a German team.
network and building examples with the Project’s increasing number of commercial partners. Whilst Fetch.AI have incurred some delays in development,
they have been minimal.
Original Roadmap & Achievements
PLANNED DATE MILESTONE ACTUAL DATE TIMING COMMENTS
EXECUTIVE SUMMARY Q3 2018 Ledger code release 2018: Q3 On time Released and updated several times: GitHub Link | Medium Link 1 | Medium Link 2
WHAT IS FET?
Q3 2018 Virtual Machine 2018: Q4 Late Released slightly late as part of the ledger code updates: Medium Link
COMMUNITY DATA Launch Phase begins (Jul 2019) End of Sept 2019 End of Dec 2019
Alpha Beta Mainnet
COMPETITOR OVERVIEW
Delivers the initial mainnet OEF and ledger All expected mainnet functionality Initial release of the Fetch.AI main network
APPENDIX
functionality in its initial form. All building undergoing tuning, optimisations and tweaks. powered by the native on-chain Fetch.AI
blocks will be present Beta will extend out to the mainnet release token (FET)
Read More Reports
Legal Disclaimer and Disclosure For Phases 1 and 2, the test network will employ a simple Proof-of-Work ("PoW") consensus mechanism. It is the intention that these phases of the testnet
will allow developers to begin developing smart contracts and evaluating the Fetch.AI ecosystem of applications, libraries and services. In addition, the
testnet in Phase 1 will be restricted to selected invitees — this primarily is to ensure a controlled ramp up of load on the network. Sign up will not be
restricted but token holders will gain priority access to the network.
Fetch.AI expects that the node population will vary considerably based on public involvement. As such, Fetch.AI and some chosen partners will additionally
run a number of core nodes in the network, and this is likely to be in the range 100-500 nodes.
In the third phase, up to June 2019, Fetch.AI will deploy a large update to the test network which will include the first release of Fetch’s final consensus
mechanism. This will be released alongside updates to the ledger internals and smart market support. The testnet will remain the primary network until the
launch of the main network at the end of 2019.
At the beginning of the Launch phase, Fetch.AI will launch a bounty program to incentivize outside participants to find and report bugs in the source code.
Additionally, Fetch.AI will start a development program to encourage the development of smart contracts and adoption of the Fetch.AI platform during the
Launch phase.
Clustermarket
To further facilitate access to the right advanced technologies for the right science, GE Healthcare and Clustermarket have deployed Fetch.AI’s
Autonomous Economic Agents on the Clustermarket platform to provide personalized recommendations of specific equipment and services that
Fetch.AI is exploring various collaboration opportunities and discussing setting up pilot projects with the partners and members of this network.
ULedger
ULedger's stateless blockchain protocol makes it possible for the Fetch.AI network to consume centralized real-world data from IoT devices and
other data sources in a provable manner. It brings security, integrity and identify to electronic communications.
MOBI
MOBI is a nonprofit organization working with forward thinking companies, governments, and NGOs to make mobility services more efficient,
affordable, greener, safer, and less congested by promoting standards and accelerating adoption of blockchain, distributed ledger, and related
technologies.
Fetch AI is exploring various collaboration opportunities and discussing setting up pilot projects with the partners and members of this consortium
Fetch.AI is exploring various collaboration opportunities and discussing setting up pilot projects with the partners and members of this consortium.
EXECUTIVE SUMMARY
TEAM OVERVIEW
WHAT IS FET?
TEAM OVERVIEW
Co-Founder and CEO of Fetch.AI. One of the Co-Founder and CTO of Fetch.AI. Producer of Co-Founder and CSO of Fetch.AI. Professor at
first investors of Google's DeepMind the a-life Creatures series of games and early Sheffield University and established scientist
TRADING DATA
developer at DeepMind in advanced machine learning AI
TECHNICAL OVERVIEW
PRODUCT & METRICS
COMMUNITY DATA
Lokman Rahmani
Software Engineer
TECHNICAL OVERVIEW
ROADMAP & UPDATES
Fetch.AI has two sets of GitHub repositories, its private and its public set. To date, primary work has been conducted in the private repositories with
TEAM OVERVIEW occasional updates made to the public one to reflect specific milestones. This led to fewer, but much larger, commits to the public repositories. Fetch.AI’s
TRADING DATA
software architecture has matured considerably in the past year, and as Fetch.AI proceeds in its development, it is more and more desirable to conduct all
Ledger
Read More Reports
Public fork of main ledger repository
Legal Disclaimer and Disclosure
3 Contributors 6 Commits
1 Contributor 1 Commit
OEF Core
Public fork of main repository for the network protocol between agents and
oef node.
1 Contributor 1 Commit
Fetch.AI Ledger
wallet-desktop
Desktop Wallet
3 Contributors 46 Commits
wallet-mobile
fetch-ledger-api
Python SDK for interaction with the Ledger
4 Contributors 14 Commits
EXECUTIVE SUMMARY
WHAT IS FET?
fetch-ledger-api-js
TEAM OVERVIEW
oef-core
TRADING DATA
Private development repository of the oef node
TECHNICAL OVERVIEW 3 Contributors 129 Commits
COMMUNITY DATA
oef-sdk-python
Legal Disclaimer and Disclosure Network protocol between agents and the OEF node
2 Contributors 15 Commits
oef-sdk-cpp
OEF Maze
Consensus
Fetch.AI uses a combination of Proof-of-Stake ("PoS") coupled with a protocol to perform work to deliver consensus. New blocks are minted through
the PoS protocol with the transaction order being determined by the work carried out between two blocks. This work is recorded on a directed
acyclic graph ("DAG") that grows between the blocks. The DAG is notarized by the blockchain which removes the need for a coordinator. A leader or
committee of leaders is elected in each block epoch using a decentralized random beacon that is based on a threshold signature scheme.
p g g
Fees and Incentives for Participation
EXECUTIVE SUMMARY
System incentives will be distributed to processing nodes for block production and for data mining operations on the smart ledger. Transaction fees
WHAT IS FET? will involve several components including a proposed gas price and a maximum number of operations.
COMMUNITY DATA
Community Strategy
Community growth is a tremendously important aspect of the Fetch.AI project. Fetch.AI has held numerous community-orientated meetups across the
globe during Q3 & Q4 2018. This program will ramp up in 2019, particularly with the release of the Project’s testnet, leading up to mainnet launch. For
Furthermore, Fetch.AI regularly showcases the work of different members from their team to explain the aspect of the project they are working on. This
emphasizes the innovative technical challenges of the Project. The response to these articles has engaged technical enthusiasts and opened up in-depth
discussions in the blockchain development community.
During 2018, Fetch.AI also presented extensively at blockchain, AI and relevant commercial sector conferences across the globe. These platforms provide
the opportunity to discuss the Fetch.AI vision and generates enthusiastic discussion and participation in the development community as well as interest in
exploring commercial partnerships.
In Q1 2019, Fetch.AI will be releasing a dedicated developer community website where users can consume technical documentation, showcase their
agents, discuss and collaborate on all aspects of Fetch.AI’s platform and technology. It also allows for the co-ordination of meetups, hackathons, developer
conferences and other activities where Fetch.AI and the community can interact with each other for mutual benefit. Fetch.AI values the developer
community enormously: a vibrant, active and productive group of developers are essential for the growth of the network and the applications built upon it.
Participation and engagement in Fetch.AI’s vision has been global in nature. It has been mostly active from independent developers who wish to build
agents ready for mainnet launch and from corporate strategy and R&D teams who truly appreciate the application of Fetch.AI’s platform to their sector(s).
Reddit | 62 Subscribers
EXECUTIVE SUMMARY
WHAT IS FET?
COMPETITOR OVERVIEW
TOKEN SALE & ECONOMICS Key Comparables: Fetch.AI
ROADMAP & UPDATES NAME PRIMARY FUNCTION LEDGER SMART CONTRACTS CONSENSUS
TEAM OVERVIEW Fetch.AI Network / AI Blockchain, sharded with DAG Yes DAG PoS + PoW
TRADING DATA
Cortex Labs Network / AI Blockchain derived Yes Cuckoo Cycle
TECHNICAL OVERVIEW
Matrix AI Network Blockchain Yes Hybrid PoS + PoW
COMMUNITY DATA
Singularity AI Ethereum blockchain Yes Proof of Reputation
COMPETITOR OVERVIEW
Fetch.AI delivers a unique, decentralized environment for autonomous agents that enables effective, friction-free value exchange. These agents are able to
APPENDIX 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".
Read More Reports
APPENDIX
Additional Product Detail - Demo & Screenshots
YouTube Library featuring use cases, explainers, deep dives, interviews, and conference / meetup presentations
Medium Articles
An Open Economic Framework
Fetch.AI Smart Contracts
Market Intelligence To Incentivize Optimal Performance
Advisors
Outlier Ventures | Token Economics Advisors
Jamie Burke | CEO of Outlier Ventures
Security Audit
Hosho Smart Contract Audit Report
Regulatory notices
This communication does not constitute either an offer or solicitation of securities or any other regulated product and is neither a promotion, invitation nor solicitation for investment purposes. The Fetch.AI tokens
cryptographic tokens do not represent equity, shares, units, royalties or rights to capital, profit, returns or income in the Fetch.AI ecosystem or technologies in Fetch.AI Limited, Fetch.AI Foundation Pte Ltd or any other
company or intellectual property associated with the Fetch.AI ecosystem, or any other public or private enterprise, corporation, foundation or other entity in any jurisdiction. The Fetch.AI Tokens are not intended to
represent a security or similar legal interest and are only available to eligible purchasers in accordance with the Fetch.AI whitelisting terms https://www.Fetch.AI/legals/whitelistingterms.
No information or opinion presented herein is intended as specific recommendations or to form the basis for any purchase or investment decision. Accordingly, this communication does not constitute investment advice
or counsel or a solicitation for investment in any token or instrument. Prospective purchasers should consult with their professional advisors and advisors as needed prior to coming to their own conclusion on whether
to purchase the Fetch.AI Tokens.
Any purchase of Fetch.AI tokens is subject to an eligible purchaser’s acceptance and compliance with (1) the whitelisting terms (https://www.Fetch.AI/legals/whitelistingterms) (2) terms and conditions required by
Binance Launchpad as may appear on the Binance Launchpad website, and (3) Fetch.AI’s General Terms and Conditions (https://www.Fetch.AI/legals/disclaimer).
Binance Research provides in-depth analysis and data-driven insights of digital assets by generating unbiased, institutional-
grade research reports for investors in the crypto space.
©2019 Binance Research. All rights reserved
EXECUTIVE SUMMARY
WHAT IS FET?
TEAM OVERVIEW
TRADING DATA
TECHNICAL OVERVIEW
COMMUNITY DATA
COMPETITOR OVERVIEW
APPENDIX