SingularityDAO AMA Summary Recap with Shin Chan Community
We held a live AMA with Community Lead, Jon from SingularityDAO on 23rd September 9:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
JH | ShinChan: Before the ama start, can you please introduce yourself to our community
Jon: Hi guys, I’m Jon, my main role is Community Lead at SingularityDAO. I also involve myself in running the operations internally, and help out with all the other spinoff projects and Snet itself
I started out in 2017 as an outspoken community member like many of you, and now I am lucky enough to have a hand in building the Singularity — It’s awesome to be in this position and to talk with you all.
JH | ShinChan: Do you have latest news or update of SingularityDAO? would appreciate if you can share to our community?
Jon: Yea sure, I prepared a little this first part, so lets save some time and do a bit of an update dump — then we can have more time to chat with the community after 😜
First up, and of course the best news
We launched our Beta App around 2 months ago and it has been an overwhelming success. It has over 50% of our entire circulating supply locked within the platform. We are now working hard on what we are calling “Beta V2” — which will be pushed out incrementally over the coming weeks and months, leading up to an official launch of V2 with our first DynaSet in December! https://app.singularitydao.ai/
It goes without saying this is of course our proudest announcement
We also have a call to action for our community.
Epoch 1 is coming to a close and over the next week we will be holding a quick poll within our communities to find out what they would like to see included in Epoch 2, so please get involved in that, your feedback is essential to us. https://t.me/SingularityDAO
we hope everyone will take part in our first “mini” governance event. Then to finish off a double helping of Airdrop news.
We just finished airdropping 5%(5million SDAO) of our total supply to our community. The average reward per person at current market value is between $3000 to $6000 dollars making it one of the biggest ‘per wallet’ airdrops ever — stay tuned for a statement about this coming soon.
and a reminder that there are LOTS more to come.
And finally some SingularityNET Ecosystem news — NuNet will be spinning off from SingularityNET in the immediate short term, so get ready for news regarding launches and more 5% community airdrops! https://t.me/NuNet_community
AMA Twitter Section Begins:
Q1: It’s excellent to have a beginner’s mind, according to a sentence listed in your account. So,how supportive is $ SDao of newcomers to the crypto world? Do you have any intentions to entice non-crypto users and investors to your project? How would you go about accomplishing this?
Jon: This seems like a good question to start with as it involves starting in crypto. Since day one we have seen a large number of beginners join us. Our community members and volunteers are always helping with education and encouragement. One of the primary goals for us at SingularityDAO is to build a DeFi platform that is accessible to all. We hope to give your kids and your grandparents access to tools that were once only available to professional traders in traditional finance on Wall street. How? Through education, easy to use interfaces, streamlined processes and allowing Artificial Intelligences to do all the hard work for you!
Also, thanks @Iec_Ghram — when going through questions on twitter there were so many great ones from you, there is no way to answer them all now but I’d love to invite you and everyone else over to our community at https://t.me/SingularityDAO where you can ask as many questions as you like and we will always endeavour to answer them!
Q2: I think traditional investors are better because they can collect daily data from news or other sources. They read charts, and analyze past data. Why do you think AI-DeFi is better than Traditional “human” investors? And What makes Artificial Intelligence special?
Jon: Hi, @kenny_kimora thanks for this interesting question, you have highlighted exactly what we are working on at SDAO. In traditional finance, investors are already using Artificial Intelligence to assist in their trading decisions, we are simply bringing those tools (along with many new ones) over to the decentralised finance space. We have a world class team of AI researchers looking into recreating with AI those exact qualities that you mention in your question — reading from news sources and charts, analyzing past data, making predictions. We are even creating AIs that can understand human sentiment and act accordingly. The difference is that AIs are not influenced by emotion.
To use our own token as an example — lets take a look at coinmarketcap https://coinmarketcap.com/currencies/singularitydao/
Our AIs will be able to read these charts, look at the circulating supply, see the price action over the last few hours, days and weeks. It can then visit our APP https://app.singularitydao.ai/ and see that over 50% of the circulating supply is currently locked. Then proceed to check the sentiment within our communities, by analyzing things like telegram and twitter posts to decide if people are bullish or bearish. With all of this information it could think to itself “SDAO is looking strong” and proceed accordingly.
CoinMarketCap (https://coinmarketcap.com/currencies/singularitydao/)
Q3: What is the role of the dynamic asset manager (DAM) in managing the proportion of assets held by DynaSet via smart contracts?
In which areas will DAM be used?
Jon: Thanks for another great question @metin8688 — The Dynamic Asset Manager or “DAM” is in control of rebalancing portfolios, choosing which algorithms are used along with a whole myriad of other things. Currently our professional trading team are acting as the DAM while they train the required AIs. Over the course of months and years, as the AIs become more advanced and more capable the trading team will hand over control until eventually there is no need for human intervention at all. For a high level view of how that will look, this image from our whitepaper gives a reasonable representation of the stack. You can find the whitepaper along with lots of other info about the platform, team, tokenomics and even AI research papers here — https://docs.singularitydao.ai/
All of these AI Agents and the DAM will eventually run on top of our partner NuNet, the next project to launch from SingularityNET in the coming weeks. It’s a really amazing decentralized computing project. If you want to find out more info about it I highly suggest going over to their telegram here https://t.me/NuNet_community — we are announcing the token launch and airdrop details VERY soon! Make sure you don’t miss out!
Q4: Can anyone really use artificial intelligence to make smarter investments with SingularityDao? Will these investments be made only with cryptoassets? Do you have recommendations or tools like copytrading on your platform?
Jon: Good question @LeyaNirmala and the answer is yes, that is precisely what we are here for. Giving everyone and anyone the opportunity to use these tools. Now, will these investments be made only with cryptoassets? Yes, at least for the time being, but with the growth of NFTs and synthetic assets it is perfectly reasonable to think that some day through using the SDAO token for governance votes you yourself will be able to suggest adding alternative assets to be managed, so make sure you get yourself some voting power soon!!
In regards to tools like copy trading, it’s not something that is bought up often and I’m glad for the chance to talk about it, so thanks for the great question! Yes, although not a high priority right now (we are working full force on DynaSets and Launchpad for the short term) we do intend to have a full suite of AI enhanced trading tools for users to play with. We will of course enable you to simply set and forget with DynaSets, but we know there are many of you that like to be more involved, and we plan to help you do so with a whole range of amazing tools and features.
One thing at a time though, let’s get the launchpad and first DynaSets out for you first.
Q5: Each token has its utility and use cases in real life. Could you share what is the important role of SingularityDAO’ token in ecosystem? What are its utility and use cases? And why should I choose your token rather than others?
Jon: Thanks @tuan_iker, as I mentioned above, the SDAO token is the governance token for our platform. It’s used to take part in directing the growth of the platform, from choosing which tokens to be included in a given DynaSet all the way up to potentially replacing the entire team if the governing community felt the need to do so. There is a very detailed governance plan and structure laid out in our governance whitepaper which you can find here — https://docs.singularitydao.ai/whitepapers/singularitydao-governance-whitepaper
Other uses for the SDAO token come from other functions of our platform. There has been a lot of focus on DynaSets, for a very good reason! DynaSets will be groundbreaking when they launch, you wouldn’t believe the amount of interest they are already seeing from all sides. They’re only one aspect of what SingularityDAO is about, and some of our other features are also receiving intense interest from many parties. The launchpad for one, which launch other SingularityNET ecosystem projects but also other interesting projects that apply and pass our stringent safety and ethics requirements. SDAO tokens will be required to participate in launch events. We will tell you about this fairly soon.
SDAO can be staked too, which will sometimes include bonus rewards that relate to things across the ecosystem. The details of these we will keep as a surprise for now unfortunately. I have not even mentioned NFTs yet! Then of course there are other use cases for the SDAO token that will become apparent as time goes on… maybe the community will propose and pass a vote for some use case none of us have even considered!? I know I am very happy to have SDAO in my portfolio, and am incredibly excited to use them in many interesting ways on the SingDAO platform… Perhaps I should pick up some more…
Telegram Live AMA Begins:
Q6: What are the key milestones on your roadmap — both things you have already achieved and things that we can look forward to? Any partnerships and short/long term technical milestones that you want to talk about or bring some attention to?
Jon: Of course spinning off from Snet with our token generation event back in May was the first — Then launching the beta 2 months ago! — next up will be going crosschain to BSC and Matic within the next few weeks — shortly followed by opening our launchpad — and then on towards the end of the year launching our first DynaSets and (time allowing) the governance portal!
Q7: I noticed that SingularityDAO has NFTs called “Community NFT”. Can you tell us how can we get them and what are the use-case of “Community NFTs”? Do they have any real utility or just symbolic value?
Jon: This is something very close to my own heart as I am directly involved in this, unfortunately thats all youll get from me for now, aside from assurances that they are not just your usual “jpeg for money cashgrab” — Im pretty exccited about what we are building
Q8: While I was checking the whitepaper of SingularityDAO, I saw the term of “Forge”. Can you explain please what is it and how will it be beneficial for users?
Jon: The forge could be considered akin to L2’s like arbitrum in some ways, although it could potentially even be an L3 that uses multiple L2s to further decrease fees — we looked into the ZK’s of the ecosystem and found them lacking in terms of helping with our needs — and so have designed our own solution — more details will be released in the coming months — but essentially it is a way of combining multiple transactions to save fees
I see a lot of questions about how SDAO creates value for its holder, I feel that is somewhat answered in the earlier 5 twitter questions so Im not going to go over it too much again — but suffice to say governance in SingDAO will be a very valuable thing to own, and the token will also have uses for things like launchpad eligibility
Q9: If you listen to the voice and suggestions of the community in making a decision for Singularity, to what extent and to what extent will the community be covered in decision -making for the benefit and efficiency of your project?
Jon: This is a very important question and one that we are always thinking on, there is a fine line between listening to the community and being controlled by it — one that we will always try our best to stay on the correct side of it — the number one goal is creating something that benefits all, and for the time being where necessary we would exercise our veto rights if required to, we will of course always try to take into consideration community feeling wherever possible — and hey, if people dont like it, in 4 years they can simply vote us out and take control!
Q10: One of the main elements of SingularityDAO’s ecosystem is the artificial intelligence concept, what level of knowledge should users have to use the artificial intelligence concept? Can you tell us how expert the SingularityDAO team is in AI?
Jon: An easy question! thankyou! You need zero knowledge, we do it all for you!!! as for our team, i dont have enough fingers to count the number of literal genius’ we have creating these things — not to mention Ben Goertzel!!
Q11: Today $SDAO pumped more then 50% so do you guys have any news? Anything new features or partnership is coming? What do want to say about this?
Jon: To the moon!!
Q12: Many farming projects begin to provide services without audit, and farming agreements also have combined risks, which makes farming activities become high-risk activities. How did Singularity reduce the risks of illegal farming? What efforts have been made to protect user assets?
Jon: All our contracts are audited, initially by certik, although we have recently also bought on Haken to help with security — you can find all audits on our gitbook docs.singularitydao.ai under audtis — and of course on certik and hakens respective websites — there is nothing more important to us than yours and our own security
Q13: When will SingularityDAO launch the $SDAO token bridge to move across the Polygon,Matic,Binance Smartchain and Ethereum?
Jon: weeks not months
Q14: How important is the community to you? and how can we collaborate or help you for the development of the project?
Jon: VERY! Get involved however you can, we hire from the community, we listen to feedback, and we are soon to launch some ambassador campaigns — stay tuned
Q15: As mentioned in the website,Users of SingularityDao have the option to connect capital and quality projects.
This made me curious on the selection criterias for such projects. How do u ascertain the quality of these projects?Does community have any role in voting such projects?
Jon: This is a really great question, and one that I cant currently provide a concise answer on yet as it is sometthing being worked out right now — we definitely intend to involve the community in this decision in the near future and will be asking for peoples input about how to qualify
Q16: How will you manage to stand out in an increasingly aggressive competitive environment as projects with the same concept increase so much? Do you have the resources to fight your rivals?
Jon: Oh yes, we will stand out ;)
Q17: Do you have any YouTube channel or website for your project?From where we can learn something???
Jon: https://www.youtube.com/c/SingularityNET/
Q18: Your Team must Be Experience in the Artificial Intelligence Field,
Do You look upon to hire more Professional & Analysts from this Background?
Jon: We currently have a team of Pro Traders, a team of AI scientists, a team of front end, back end, and full stack developers, as well as some amazing finance guys, a couple of math genius, a recently hired Marketing lead from silicon valley — and thats just within SDAO, not to mention the resources SNET bring to the table…. and we are still hiring! cvs to careers@singularitydao.ai if you think you have something to offer!
Q19: ❇️ To this day there is no magic Bot that is profitable enough in the financial markets to invest blindly in it, so why leave the management of our capital under the power of Artificial Intelligence? Have you tested the mechanisms or strategies it will implement?
Jon: You are absolutely right, but those bots that claim AI are not the real thing. as for testing, absolutely we have, I dont have the docs on hand but hop over to our telegram and people will be sure to share the latest backtesting infos with you https://t.me/SingularityDAO
Q20: SingularityDAO recently announced a partnership with NUNET, what will this partnership bring to SingularityDAO? Is this a long-term partnership, what opportunities will NUNET and SingularityDAO provide to each other in the long run? Which feature that NUNET has built has caught SingularityDAO’s attention and wants to take advantage of it?
Jon: The NuNet partnership brings so much value, not just to us, not just to the crypto ecosystem, but to the internet as a whole. The services we offer NuNet are fairly obvious, aid with launching, liquidity for the token, inclusion in future dynasets and a usecase for the platform. NuNet in return will allow us to host our AI’s in a decentralised fashion, meaning that there is no part of the SDAO stack that is centralized.
Q21: Can you explain what you consider the most important thing about this project? What is so important for #SINGULARITY to always achieve the expected success? And for what reason do we not hesitate to get this SINGULARITY coin?
Jon: I will answer this question but please note it has some personal bias and im sure other people would answer differently — for me the most important thing is that we are bringing tools that were once only available to the elite, and putting them in the hands of you all, and to top it off it will be completely decentralized
Q22: You claim that DynaSets has multiple DeFi tokens in a contract in a dynamic ratio, but is there really a wide variety of tokens or do you only have the basic tokens? How is this “dynamic ratio” divided? Will you integrate more assets in the future?
Jon: The first DynaSet will be WBTC WETH and a stable coin, so not that wide of a variety — but following DynaSets will have a huge variety of tokens — it could be DeFi tokens, NFT tokens, MeMe tokens….. and the community will be able to vote for which to include…. maybe one day we will have a DynaSet with all Dog Tokens (I hope not)
Q23: How can I stay updated with your project?Can you share your telegram,bTwitter, website and social link where are we find you? Many projects start but get stuck along the way, could you tell me if you plan to stay active and offer projects and opportunities to the community in the long term ?Thanks
Jon: I’ll do this one as a freebie as its an obvious chance for us to shill our socials
https://docs.singularitydao.ai/channels-1/social-channels
Q24: I Found that in a SingularityDAO Governance User Can Choose to Vote Either FOR , AGAINST and BALCANO , Can you Please tell Us what does BALCANO means , and what does it indicates ?
Jon: Blanco can be considered a way to say “I dont accept the proposal in its current form, but Id be interested in it if you made some changes”
Q25: SophiaDAO will be one of the projects from SingularityNET. Can you explain describely about that? What kinds of good or bad impact will this have on SingularityDAO?
Jon: I would most certainly love to tell you about SophiaDAO although Im not entirely how much I can say so Ill drop some hints. Art meets Gaming with a little bit of NFT which may or may not link back to a question I answered at the very start of this AMA. https://t.me/sophia_dao
Q26: How can I generate passive income just by holding dynaset tokens? Do you have a Staking/farming program for the native token SDAO
Jon: You can farm AGIX and SDAO (maybe in the future more!?)
You can stake SDAO unlocked for decent reward
You can stake SDAO locked for great rewards and bonuses
and of course
You WILL be able to buy DynaSets which I am confident will put all other forms of “saving” to shame ;)
-End-
