SingularityNET Partners With Ocean Protocol as It Gears up for its Anticipated AI-Based DeFi Fund Launch

by blockchainnews · May 18, 2021

Amsterdam, Netherlands, 18th May, 2021,

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 / investment portfolio. Moreover, SingularityDAO is designed to leverage AI at multiple levels: AI manages dynamic token-sets, executes predictive market-making strategies to provide liquidity for these token-sets on DEXs, and predictively models hedging strategies.

All this AI requires a lot of data to learn and improve, which is why SingularityDAO is a natural user of Ocean data sets – data sets 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.

I’m really excited by the opportunity to work together with Ocean Protocol, one of the most respectable projects in crypto who 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. – Marcello Mari, CEO at SingularityDAO

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 2½ 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. SingulariyDAO’s governance token has been generated on May 13th and distributed on the same day. It is currently trading on Uniswap.

About SingularityDAO

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 class; Ocean 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.