What Is ASSEMBLE Protocol (ASM)? 

ASSEMBLE Protocol (ASM) is a platform to unify global reward points across e-commerce systems using blockchain. The platform allows users and merchants to aggregate, manage, and spend reward and loyalty points. Users can use their points to buy goods and services on the ASSEMBLE Marketplace or convert them into ASM tokens, which users can swap for cash on supported exchanges.

According to its whitepaper, the ASSEMBLE Protocol is an Ethereum-based platform that integrates the three pillars of e-retail:

1. Point providers (enterprises)

2. Point consumers (customers serviced by enterprises)

3. Retailers (individuals and enterprises to use for their sales channels and advertising tools)

Customers who have gathered points from several sources cannot combine or convert them into a single point using the currently available point management facilities. As a result, they cannot use or trade reward points as often as they wish because they are only authorized to use them at a single franchise store.

The whitepaper suggests that ASSEMBLE aims to create an ecosystem that benefits all stakeholders of the loyalty points industry using a three-pronged approach. This strategy includes Point Exchange, Marketplace, and Data Infrastructure. Point exchange (PX) integrates rewards points. It converts them into ASP (ASSEMBLE points), a single key loyalty point of the platform. Then, using ASPs, users can pay for goods and services offered by partner organizations on Marketplace (MP). Apart from this basic functionality, the ASSEMBLE Protocol provides a framework for point providers to build data management systems (Data Infrastructure or DI), including designing advertising campaigns. Additionally, the ASSEMBLE Protocol prevents the loss of millions of unused rewards points every year. 

ASSEMBLE Token (ASM) is the native utility token of the platform. Consumers can exchange ASSEMBLE points for the ASM Token, and users can trade or swap for cash in turn. Traditional loyalty programs do not allow users to transfer their external reward points. However, the protocol converts the reward points to ASM tokens. The platform allows users to quickly trade these tokens with others as digital assets.

Furthermore, customers can pay for platform fees using ASMs. Similarly, point providers and retailers can use ASM tokens to pay for advertisements on the Assemble protocol platform. In the whitepaper, the development team’s aim is that once the platform gains traction, the value of ASMs can be retained and increased through regular buyback policies.

History of ASSEMBLE Protocol

ASSEMBLE Protocol is a Korean company that combines the expertise of its partners STA1.com and YWMobile. ASSEMBLE was aided in its market entry by existing loyalty point clients secured by the partners. Park Kyu Do oversees the ASSEMBLE protocol as the CEO. He is also the CEO of STA1.com, Clubpass, and Marketing Friends. LeeSung Hyen is the CTO, a seasoned system integrator of various tech-based projects, and the director of the 13 Mile. The team released the updated whitepaper in January 2022.

How Are ASM Tokens Staked?

ASM tokens are ERC20 tokens on the Ethereum blockchain. Users can use their ASM tokens to access rewards such as events, discounts, gift cards, and coupons by staking them on the platform. Anyone can join ASSEMBLE's Marketplace as a retailer after staking enough ASM tokens.

How Many ASM Tokens Are There?

The total issuance of ASM is 1,500,000,000, and 25% of it (375,000,000 ASM) was sold through an initial coin offering to raise funds for technical support, promotion, operations, and finance. All the unsold tokens from the ICO were burned. Token burning removes cryptocurrencies from circulation by sending them to unusable wallet addresses, thereby creating scarcity. According to the whitepaper, all the ASM tokens distributed are locked in a smart contract for a period. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on blockchain. The company hopes that by doing so, token holders will not unload tokens on exchanges, causing the token price to plummet in the short run. 

How to Buy ASM Tokens

The token is available on various exchanges, including but not limited to Coinbase.