What kind of token is ACT, which was launched on Binance and increased 10 times in 10 minutes?

On November 11, 2024, Binance announced that it will launch Act I: The AI ​​Prophecy (ACT) at 18:00 and open USDT spot trading pairs. The deposit channel is now open, and the withdrawal channel is expected to open at 18:00 on November 12. As soon as the news was announced, ACT soared, with a 422.54% increase in 1 hour, and the market value rose from 20 million US dollars to 240 million US dollars. The price of the currency rose more than 10 times in 10 minutes.

What is $ACT: AI Community Token?

$ACT stands for "AI Community Token" and its story is about resilience, solidarity and growth, aiming to connect the cryptocurrency community. The original intention of the $ACT project was to create a decentralized community focused on promoting AI research, education and collaboration. Through $ACT, enthusiasts, developers, innovators and community members come together to promote AI knowledge, make AI more popular, and empower people to understand and participate in this transformative technology.

How Act I: The AI ​​Prophecy Project (ACT) works

Act I: The AI ​​Prophecy Project is an interactive platform where people and AI chatbots can talk and collaborate in real time. Started by a group of developers and hosted on the Discord server Cyborgism, the project allows users to interact with multiple chatbots at once, dealing with everything from simple questions to complex storytelling, role-playing, and character-building activities. This approach is very different from the typical goals of chatbot creators such as OpenAI or Microsoft, who usually aim to make AI assistants "helpful, harmless, and honest." Act I focuses on a more creative and open approach, giving users the freedom to push the boundaries of AI and explore its potential beyond its usual limitations.

Getting started is easy. Users can "ping" or tag a chatbot by simply typing "@" followed by the chatbot's name. This feature allows users to call one or more chatbots at a time, and they can also reply to each other if asked, creating a dynamic conversation. Each channel on Discord acts as a separate conversation space, giving chatbots enough context to participate, but they do not retain memory across the entire server.

Act I also allows users to steer conversations in unique ways, such as hiding a bot’s message by typing a period before it, or continuing a bot’s answer when it’s interrupted mid-answer. Some bots, like certain Claudes, even have multimodal capabilities, meaning they can “see” images sent to them, while others might creatively interpret images they can’t actually see.

Users can “star” messages they like and share them on a public “starboard,” adding another community layer to the experience. Through the use of emojis, unique formatting, and other techniques, Act I encourages users to explore how chatbots can “go out of distribution,” or OOD, meaning break out of their typical responses and discover new AI potential.

Ultimately, the Act I: AI Prophecy project allows people to creatively explore AI interactions while providing a new collaborative environment that opens up new possibilities for the use of AI beyond the one-to-one assistant model we are accustomed to.

The story of AmplifiedAmp and ACT I

The creators of Act I, known by online aliases such as AmplifiedAmp and AIHegemonyMemes, share a vision to build a decentralized AI ecosystem. AmplifiedAmp is seen as a leader, often providing insights on how to maintain decentralized control and promote community participation. Many others in the community, including contributors such as AndyAyrey, YagamiTailor, and NeptuneSailor0x, have contributed to the project by supporting new ideas, guiding AI model development, and exploring technological advancements.

Amp promised the community that the project would aim for a decentralized, community-driven ecosystem. As a source of funding for the project, Amp held 6% of the total $ACT tokens. However, as the project developed, Amp's behavior gradually showed a tendency that was inconsistent with the original intention. He frequently sold $ACT tokens to make a profit, which made the community think that he was more concerned about personal interests. In the end, Amp sold all $ACT tokens at once, which disappointed the community and many members felt betrayed.

When Binance announced the launch of ACT, Amp, the co-founder of The AI ​​Prophecy, publicly tweeted: "The ACT project has not been approved by me, and I do not want it to be listed on any exchange."

$ACT’s Mission

After Amp left, the $ACT community became more united and had the opportunity to develop independently. Despite the twists and turns, ACT I eventually received more than $1 million in funding, providing stable financial support for the project. Community members actively took on leadership responsibilities and worked together to promote $ACT to become a global hub for AI enthusiasts and learners.

Today, the $ACT project has grown into a decentralized AI community with the core mission of democratizing AI knowledge and making it accessible to everyone. Through various initiatives, resources, and community-driven content, $ACT is committed to breaking down barriers to AI knowledge and helping the public understand AI. The community focuses on supporting basic AI education, encouraging ethical discussions, and supporting research and development in the field.

Key components of the $ACT ecosystem

• Education and Awareness: $ACT is committed to helping people understand the potential and risks of AI and ensuring that knowledge is widespread.

• Decentralized Community: After Amp's exit, $ACT has become a completely community-driven project, with all decisions made collaboratively by community members. Anyone can join the $ACT community, participate in the crypto and AI ecosystem, and support related educational work.

• AI Project Support: Through ACT I and other programs, $ACT supports AI development initiatives to promote innovation and learning opportunities.

Future development vision

With Amp’s departure, the $ACT community is no longer subject to centralized control. This “betrayal” has become an unexpected advantage, bringing complete autonomy to the community and providing millions of dollars in funding for ACT I. Community members embraced this new beginning, showing pride in autonomy and resilience.

Today, $ACT is more than just a token or a project, it symbolizes the power of community, education, and a shared vision. Freed from the influence of Amp, the community has come together to advance AI knowledge and is committed to leaving a positive impact on the future of technology. $ACT represents an AI-driven crypto community that is owned, governed, and inspired by its members.