Introducing SingularityDAO: The Unique Layer 2 Noncustodial DeFi Solution From SingularityNET

Introducing SingularityDAO: The Unique Layer 2 Noncustodial DeFi solution From SingularityNET

SingularityNET Foundation has announced SingularityDAO, a new project in the decentralized finance (DeFi) space, designed to improve funding for early and mid stage blockchain projects by leveraging AI and tokenomics to create radically more liquidity for their tokens.

Over the past few years, hundreds of projects have launched unique decentralized software and social technologies based on tokenomic innovations. Many of these struggle to achieve consistent project growth – in part because low liquidity makes their tokens unappealing to investors. SingularityDAO will introduce a new set of financial tools to solve their liquidity problem.

SingularityDAO’s novel AI-DeFi mechanisms make it more beneficial and less risky to hold portfolios of utility tokens that individually have only modest liquidity – thus increasing the liquidity available to the projects that issued these tokens. Our ultimate goal is to create market conditions that are favorable to high-quality innovative projects using tokens to achieve rapid financial growth.

SingularityDAO has been incubated within SingularityNET, the leading decentralized AI network, and has been designed to make effective use of AI at every level. AI robo-advisors will be used to manage many of the initial token-sets; AI bots will be used for return generation based on token-sets borrowed from yield farmers; and AI strategies will be used for hedging token-sets and yield tokens so as to dampen volatility throughout the ecosystem.

Dr. Ben Goertzel, founder and CEO of SingularityNET Foundation, says: “Humanity needs more high-quality decentralized technology projects – and that means resources must get directed to the many high-quality decentralized tech projects that already exist. If we can increase the liquidity available to the utility tokens of these projects, we clear the path for investment. This is the raison d’etre of SingularityDAO. SingularityDAO democratizes AI for advanced financial prediction, risk management, arbitrage, and automated market making – with a focus on lower-liquidity altcoins and their aggregates, and a mission of using decentralized AI and DeFi to create new mechanisms that can radically accelerate the growth of the decentralized tech economy.”

“There is an appetite among crypto investors for non-custodial versions of the sophisticated mechanisms available in traditional finance,” continues Dr. Goertzel. “We are also seeing a large number of new blockchain technologies coming out aimed at bypassing the speed and cost issues that limit current Ethereum-based DeFi projects – both higher-layer technologies built on top of Ethereum, and alternative blockchains designed for scalability in the fintech context. Putting these factors together, it’s likely DeFi is going to explode in 2021 to an unprecedented degree. With SingularityDAO, we’re aiming to direct this explosion with the benefit of AI, and help create a tremendously better situation for early-stage decentralized tech projects and their corresponding utility tokens.”

SingularityNET is a full-stack AI solution powered by a decentralized protocol. SingularityNET’s core goal is to provide an intelligent fabric for AI algorithms to talk to each other — and in doing so, to provide both a teeming commercial marketplace for advanced AI solutions across vertical markets and the basis for the emergence of the world’s first true Artificial General Intelligence. The SingularityNET founders believe in open source and decentralized control, so that no single individual, corporation, or government will be able to dominate AI as it becomes increasingly more generally intelligent and capable. The project gathered the leading minds in machine learning and blockchain to democratize access to AI technology.