ASI to burn 5M $FET tokens on 10th Jan 2025

ASI Alliance has announced a landmark event for its ecosystem with the first burn of 5 million FET tokens scheduled for January 10, 2025. This strategic move, part of the ASI Train model in the project’s roadmap, aims to create deflationary pressure within the Fetch AI ecosystem.

According to Humayun Sheikh, Fetch AI’s co-founder, the token burn will reduce the circulating supply of FET tokens, fostering scarcity. “This strategic move may foster scarcity, thereby enhancing the token’s market value,” Sheikh explained. The initiative reflects the visionary approach championed by Sheikh and marks a critical step in Fetch AI’s commitment to decentralized AI and blockchain innovation.

Token burns are a recognized practice in the crypto industry, often seen as a method to drive demand and support long-term value. By reducing the token supply, Fetch AI aligns its strategy with market expectations for sustained ecosystem growth and value creation.

This milestone sets the stage for Fetch AI’s ambitious vision for 2025, aiming to build a more dynamic and inclusive digital economy. The project’s roadmap emphasizes innovation at the intersection of AI and blockchain, with this token burn serving as a foundational step toward its goals.

Community Response

Some people in the community have responded negatively to the fact that only 0.2% of the supply is being burnt and not much information or schedule has been provided by the team at least on X.

Some on the other hand seem content on any kind of deflationary pressure.