Sharpe AI Announces the Listing of Its Token, $SAI, on Gate.io, Marking a New Chapter for AI-powered Crypto Trading

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.

AI trading platform Sharpe AI is set to list its token, $SAI, on Gate.io, paving the way for a new era of AI-powered crypto trading.

According to an announcement by the Sharpe AI team, the listing will take place on August 5th, 2024, at 1 PM UTC on Gate.io. Following the listing, $SAI will be available for trading in the SAI/USDT pair.

The listing comes hot on the heels of Sharpe AI's historic Initial DEX Offering (IDO), which was held earlier in April. The IDO, which was hosted on Ape Terminal, made history as one of the largest IDOs after recording an astounding 300x oversubscription. The IDO brought in a total of $576 million in assets and attracted over 120k participants.

$SAI is the native token of the Sharpe AI ecosystem and is designed to serve as both a utility and governance token. It 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. Holders of the $SAI token also unlock numerous benefits, 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.