SingularityNET Partners With Ocean Protocol As It Gears Up for Its Anticipated AI-Based DeFi Fund Launch
May 18, 2021 – Amsterdam, Netherlands
SingularityNET’s first DeFi spin-off project, SingularityDAO, is announcing today their partnership with leading decentralized data provider Ocean Protocol.
The collaboration will see the OCEAN token’s inclusion in SingularityDAO’s index fund and investment portfolio. Moreover, SingularityDAO is designed to leverage AI at multiple levelsAI manages dynamic token-sets, executes predictive market-making strategies to provide liquidity for these token-sets on DEXs, and predictively models hedging strategies.
This AI requires a lot of data in order to learn and improve, which is why SingularityDAO is a natural user of Ocean data sets which are published via Ocean Market (and other Ocean-based markets) into the Ocean ecosystem. The Ocean ecosystem is host to many diverse and varied trading and DeFi data sets. These make excellent candidates for consumption by SingularityDAO’s AI agents to enhance its financial modeling.
Marcello Mari, CEO of SingularityDAO, said,
“I’m really excited by the opportunity to work together with Ocean Protocol, one of the most respectable projects in crypto which has been constantly delivering community-driven, decentralized data solutions. SingularityDAO will constantly make use of data to train our ML, and I can’t think of a better partner than Ocean Protocol.”
The news follows the successful completion of a total of $5.2 million raised in three different rounds for the highly anticipated Governance Generation Event on MANTRADAO, which reached its hard cap within less than two and a half hours.
The protocol, described as ‘DeFi meets decentralized AI,’ held the event exclusively for SingularityNET $AGI holders and attracted 5,800 registrations in one week. The token sale raised $1.6 million (8,000,000 SDAO).
The successful Governance Generation Event follows a recent private sale wherein SingularityDAO raised $2.7 million of funding from a number of top-tier investors such as AlphaBit, Marshland Capita, GBV and SMO Capital. SingularityDAO’s governance token has been generated on May 13, 2021, and distributed on the same day. It is currently trading on Uniswap.
SingularityDAO is a decentralized platform, governed by the SDAO token, tasked with governing DynaSets. DynaSets are diversified baskets of cryptocurrency assets dynamically managed by AI and curated by the protocol. SingularityDAO brings the financial sophistication of AI-managed funds to DeFi, deploying SingularityNET’s AI technology to navigate complex markets.
About Ocean Protocol
Ocean Protocol’s mission is to kickstart a Web3 data economy that reaches the world, giving power back to data owners and enabling people to capture value from data to better our world.
Data is a new asset classOcean Protocol unlocks its value. Data owners and consumers use the Ocean Market app to publish, discover and consume data assets in a secure, privacy-preserving fashion.
Marcello Mari, CEO of SingularityDAO
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