Sharpe AI Announces Listing Of Its Token $SAI On Gate.io
Sharpe AI is proud to announce the upcoming listing of its token, $SAI, on Gate.io, which will mark a new chapter for AI-powered crypto trading.
According to the Sharpe AI team, the listing has been set for August 5th, 2024, at 1 PM UTC on Gate.io. Following the listing, $SAI will be available in the trading pair SAI/USDT.
The listing follows Sharpe AI’s historic Initial DEX Offering (IDO), held earlier in April. Held on Ape Terminal, the IDO made history as one of the biggest IDOs after recording an astounding 300x oversubscription. The IDO brought $576 million in assets and attracted over 120k participants.
$SAI is the native token on the Sharpe AI ecosystem, carefully designed to serve as a utility and governance token. $SAI is used as an incentive tool between token holders, Sharpe AI participants, and the broader Sharpe AI ecosystem. The token employs a community treasure model that helps growth initiatives and funds future developments. The $SAI token unlocks numerous benefits to holders, including discounts, governance rights, airdrop access, and staking rewards.
The token has a buyback and burn mechanism that helps reduce the total token supply to provide stability. The mechanism will be split into buybacks allocated to burns and staking rewards. This mechanism is also designed to reward long-term token holders over time. Notably, Sharpe AI plans to use part of the profits generated from all products within its ecosystem to repurchase $SAI from the open market. This will reportedly be done through repurchase programs such as TWAP orders. All tokens bought will be burned.
Commenting on the listing, Rishabh Narang, CEO of Sharpe AI, stated:
“The listing of $SAI marks a pivotal moment for Sharpe AI and the broader AI-crypto ecosystem. We’re excited to bring our vision of intelligent, accessible crypto trading to a global audience.”
Sharpe AI has been at the forefront of intelligence, helping users track and invest in digital assets. Since its launch, Sharpe AI has worked to become a comprehensive platform that combines data intelligence, DeFi, and trading products. The platform recently launched a decentralized AI superintelligence network called HiveIntelligence and acquired Brownian.
Sharpe AI has launched many key products, namely, Sharpe Perps, Sharpe DEX, Sharpe Bridge, Sharpe MFT Marketplace, and Sharpe Terminal. To date, Sharpe AI has recorded over 25 live products, 150k users, and $500 million in platform volume.
In the coming days, the team behind the project plans to integrate with more blockchain networks, expand their AI capabilities, launch new products, and partner with traditional financial institutions.
The platform has formed many strategic partnerships with Aethir, Ionet, Hyperliquid, Arbitrum, Orderly Network, Paradex, 0x, Aioz, and Li.Fi, Arbitrum, LogX, AIT Protocol, Aave, Ape Terminal, HyperGPT, P Aevo, Paradigm, Eesee, Bittensor, Lido, TradingView, araswap, Galxe, Mantle, OpenOcean, and more.
