Frequently asked questions

What is Fetch.ai?

With a strong focus on building real-world solutions, we are at the forefront of both blockchain and artificial intelligence technologies. We’re working on several key areas including:

  • Sharing of knowledge across data silos using machine learning, economics and advanced cryptography with potential applications to the finance, insurance and healthcare industries.
  • Autonomous agents for optimizing complex systems with multiple stakeholders in the mobility, smart cities, energy and supply chain sectors.
  • Development of advanced blockchain technologies to overcome the security and scalability challenges of existing implementations.

Do you have a roadmap:

Yes, you can find a roadmap here: https://roadmap.fetch.ai/

Where can I see your academic papers?

They are listed here: https://fetch.ai/publications/

How can I get involved with Fetch.ai?

Contact us at [email protected], and take a look at our careers page: https://fetch.ai/careers/

Is Fetch a decentralized public project?

Yes. All of Fetch’s decentralized technology will be released open-source.

How many FET tokens are there in total?

1,152,997,575

Where can I find key token metrics?

You can find the key token metrics by reading our tokenomics paper: https://fetch.ai/wp-content/uploads/2019/10/Fetch.AI-Token-Overview.pdf 

And by reading our Binance research profile: https://research.binance.com/en/projects/fetch-ai

Where can I see the current circulating supply?

The live page is here: https://token-information.fetch.ai/

Where is detailed information about the $FET token swap?

Why are we doing the FET token swap?

The token swap was originally planned for mid-Q4, around November (see https://roadmap.fetch.ai). We are bringing this forward so that it happens before we launch staking V2 later this week. Additionally, we are accelerating our journey towards decentralized governance and preparing for mainnet version 2, both of which require this token swap to take place. By doing it now, we avoid community inconvenience when mainnet v2 is launched.

When is the FET token swap scheduled for?

The token swap will take place at a block height of 11054400, which we are expecting to occur within two hours of 14:00 UTC on Wednesday 14th October, 2020.

What action do I need to take for the FET token swap?

For the vast majority of FET token holders, NO ACTION IS REQUIRED.

See below for a simple summary:

Image for post

Important: If you represent an exchange or information service and we have not yet contacted you about the planned swap, please contact [email protected] for more information.

What is the new contract of the FET ERC-20 smart contract?

The Fetch.ai Foundation has deployed a new FET token contract, and we ask the community and industry to support the swap.

The new contract has been deployed to the Ethereum mainnet and you can view it, and its audit report, here:

https://etherscan.io/address/0xaea46A60368A7bD060eec7DF8CBa43b7EF41Ad85

It has not escaped our notice that the new contract address begins with “AEA”, and is the perfect home for Fetch.ai’s tokens and Autonomous Economic Agents now and in the future! The contract has been audited, and you can read the audit report here:

https://github.com/certikfoundation-shared/CertiK-Audits/blob/master/reports/REP-FecthAi-token_5_10_2020.pdf

What happens with the old FET token?

Cease trading or transferring FET tokens

We will be transferring the state to the new contract, and to minimize the risk of issues, we encourage you to stop transferring FET tokens with the existing “0x1d287” contract on the 14th October. The old FET token will not be supported after the swap is complete.

What if I still have tokens in the old staking contract?

No need to worry. If you do not take them out, they will be automatically refunded to the source address when we do the token swap.

My tokens are in my MetaMask wallet. What do I need to do?

If you hold your tokens in a wallet, no action is required before the token swap. After the token swap you need to update the wallet with the new FET contract address, as above in order to see the balance of the new FET tokens in MetaMask.

I use MyEtherWallet. What do I need to do?

If you hold your tokens in a wallet, no action is required before the token swap. After the token swap you need to update the wallet with the new FET contract address, as above

I have my tokens with Binance / Bitfinex / another exchange?

If you hold your tokens on a centralized exchange, no action is required before or after the token swap. Your balances will be automatically transferred to the new contract address

I have tokens on Uniswap, what should I do?

Please remove your tokens from DEXs before 14:00 UTC on Wednesday 14th October. Tokens can be re-added later, using the new contract address.

Is this in response to the KuCoin hack?

No. We are doing this slightly ahead of schedule for the reasons outlined above. . KuCoin is a reminder of the need for decentralized governance, and this accelerates that journey for Fetch.ai.

What if I am using FET tokens in my application?

If you have applications, such as autonomous economic agents, operating on the FET mainnet, you will not be affected. Mainnet v1 tokens are independent of the ERC20 token. If you have built autonomous economic agents that use the ERC20 FET token, you may need to modify your transaction code to reflect the new token’s address, but no other changes will be necessary.

If you are using any of our testnets, such as Agentland or the v1 testnet, you are also unaffected by this change.

How do I tell the difference between the old and new tokens?

Specific instructions for Metamask and MyEtherwallet are given above. For other types of wallets and token browsers, it’s important to note that the contract address of the new token is 0xaea46A60368A7bD060eec7DF8CBa43b7EF41Ad85.

How do I operate a node on the Fetch network?

As part of the process to truly decentralized governance, we are running an incentivized testnet program after the token swap is completed. The second phase of this program is targeted at recruiting a new wave of network operators, and interested parties can register by contacting [email protected]

What utility does the Fetch token have within the network?

Fetch.ai has issued a fixed number (1,152,997,575) of non-divisible tokens that are used on the network as the digital currency for all transactions. As agents buy and sell data they do so with FET tokens, therefore as use of the data marketplace increases so too demand for the token grows. In certain circumstances, node operators and agents must also provide FET tokens for operations on the network such as secure communication between agents, other actions require tokens be provided as a refundable deposit.

We’ve set out some of the utility of the FET token here: https://medium.com/fetch-ai/explaining-fet-the-fetch-ai-token-with-five-simple-examples-195a66ad9438 

Did Fetch.ai hold a public token sale?

Yes, Fetch.ai held a public token sale on Binance Launchpad on 25 February 2019. Due to overwhelming public demand, $6m was raised in just 22 seconds. Following the sale, we are focussing our efforts to continue releasing more innovative technology over the coming weeks and months.

What is the token ticker?

FET

Where can I find out more information about token metrics?

These can be found in our blue paper, which is available in eight different languages. You can find more details about the public token sale by visiting our project page on Binance.

Do you have a working prototype?

Yes, on 19 December 2019 we launched the Fetch.ai mainnet. This is the culmination of more than two years of work from our world class team. Following this landmark achievement, FET tokens can now be used to get work done on the network. Using FET as the fuel, autonomous agents, the smart ledger, synergetic and AI-powered smart contracts are now a reality. This is incredibly exciting as developers and commercial businesses are now able to work on our unique platform to build applications. Learn more about the technology.

Is Fetch.ai an open source project?

Yes. All of Fetch.ai’s decentralized technology will be released open source. You can explore the code for yourself by visiting our GitHub repository.

Is it a blockchain?

The Fetch.ai Smart Ledger is an entirely new ledger technology that provides the scalability necessary to support millions of transactions per second. We are also developing infrastructure that supports a decentralized digital world and provides a platform for machine learning to deliver accurate predictions to the marketplace. Our technical whitepaper, provides information on the ledger structure and how it functions and further details can be found in our publication outlining the Design of a Scalable Distributed Ledger.

Is Fetch.ai a permissioned or permissionless system?

Fetch.ai is developing an unpermissioned ledger system. However, we also envisage operating the ledger in permissioned environments, such as healthcare and IoT settings, to facilitate the bottom-up deployment of autonomous agents. These could be used, for example, to improve medical diagnoses by linking together information from multiple separate data sources, whilst maintaining the privacy of the underlying data.

What was your CEO’s involvement with DeepMind?

Humayun’s involvement was to investigate commercial applications of machine learning and artificial intelligence to modelling commodity markets. He did not have a title and was not part of the technical team, but played a role in the initial commercialization strategy for the technology on the basis of his background in commodity trading and deployment of trading algorithms. Over the past four years he has been working to implement predictive analytics in the transport and supply chain sectors.

What was your CTO’s role at DeepMind?

Toby was at DeepMind from 2011 to 2013 and his job title was ‘Head of Software Design’. After 2013 he stayed on as a consultant for a while. The details are available on his LinkedIn profile. His primary influence from an AI/software perspective, though, was from the management and direction of the Creatures series of games in the second half of the 1990s. He learnt how metaphors and other inspiration from nature could be used to manage software complexity and generate general purpose AIs that could evolve to better meet the challenges of the environment that they inhabit. He went on to create a biologically inspired MMOG engine where tens of thousands of autonomous agents interacted with each other to allow rich, complex worlds to merge that could adapt to the needs of their users. This philosophy is a key component of our vision for Fetch.ai.

Who are Fetch.ai's partners?

Fetch.ai is working with a growing number of partners. We are excited to announce agreements with several more in the coming months, but the ones we have discussed publicly include:

 

Blockchain for Europe: Alongside Ripple, NEM and EMURGO/Cardano we founded the association in December 2018 to represent blockchain originating organisations at a European level.

 

Trusted IoT Alliance: TIoTA was founded to support the creation of a secure, scalable and interoperable IoT ecosystem and includes major corporations such as Bosch, Cisco and Siemens among its members.

 

T-Labs: In May 2019 we announced a memorandum of understanding (MoU) with T-Labs, the R&D unit of Deutsche Telekom.

 

Decentralized metal exchange consortium: In October 2019 we announced a partnership with Turkish steelmakers including Baştuğ Metallurgy to develop the first AI-powered decentralized metals exchange and recorded the historic first trade on the exchange. The project received an additional boost when we announced a partnership with Grey Swan Digital a few weeks later. Fetch.ai and Grey Swan Digital will integrate their platforms in order to offer Smart Market Making and Smart Margin Lending.

 

Cambridge University: In December 2019 we announced a partnership with Cambridge University’s Institute for Manufacturing to develop supply chain use cases with AI multi-agent systems and our next-generation blockchain.

 

Ankr: The partnership, agreed in December 2019, will see Fetch.ai further grows its network. Ankr will provide a node hosting application which enables users to run Fetch.ai master nodes.

Who does Fetch.ai have on board as advisors?

Fetch.ai benefits from the assistance of several advisors from a wide range of sectors. To learn more about these individuals, please visit our website.

What media attention have you received?

As our project has developed, we have received coverage from a range of publications. This includes two Gartner industry reports. The first, Hype Cycle for Blockchain Business, recognized Fetch.ai as a sample vendor in strategic tokenization. In the second report, titled Seize the Technology Advantage With Combinatorial Digital Innovation, Gartner described the unique benefits provided by our network.

 

A few other selected articles are listed below:

The Blockchain-Enabled Intelligent IoT Economy (Forbes)

Together we can thwart the big-tech data grab (The Guardian)

Meet Fetch, the AI creation of DeepMind pioneers who refuse to succumb to Google (The Telegraph)

New ways to trade data (The Economist)

When was Fetch.ai founded?

Fetch.ai was founded in early 2017, following a merger of two independent companies, itzMe.AI and uVue. itzMe.AI was operating in the field of social networks while uVue was involved in developing control systems for autonomous vehicles.

What are your social media channels?

To find out what we’re working on, you can visit our Medium page and our blog. For our latest updates, please join us on social media:

Twitter

English Telegram

Chinese Telegram

YouTube

Discord

Reddit

LinkedIn

If you’re interested in working with us, please visit our careers page, where we have a number of opportunities available.

If you would like to invest in Fetch.ai, please email [email protected]. For all other enquiries, please email [email protected].