SingularityDAO AMA Summary Recap with Shin Chan Community
We held a live AMA with SingularityDAO Team on 1st May 10:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
Serene: So before we start the first section, can you please introduce yourselves and little about your project to our community?
Marcello Mari: My name is Marcello Mari and I’m the director of comms at SingularityNET and CEO of SingularityDAO. I joined SingularityNET in 2017.
I was part of the founding team, we did the ICO in December 2017 raising 36 mln in 66 seconds. it was a lot of fun, bringing Sophia the robot around the World.
Then from the summer of 2020 I became the CEO of SingularityDAO which is incubated by SingularityNET. This is our venture into DeFi. We are bringing sophisticated AI to the world of Decentralized finance. I also did 2 more ICOs, one very successful in the movie industry while the other one felt through the cracks of the crypto winter.
Serene: Do you have any news/update about SingularityDAO would like to share with us?
Marcello Mari: Yes sure. Last week we announced one of the largest airdrop in history of crypto, giving away 5% of the total supply of singularityDAO tokens to our loyal community og AGI token holders and as of the 28th we have started the KYC process to whitelist anyone who wants to participate to the @SingularityDAO Governance Generation Event.
more info can be found here: https://medium.com/singularitydao/introducing-the-singularitydao-governance-token-generation-event-98b14089bf79
So I invite everyone interested to join our whitelist and start the KYC process. There are only 4 days left!!
AMA Twitter Section Begin:
Q1: Reading the SingularityDAO documentation I came across two Token $SDAO and DynaSet Token Could you explain the function and usefulness of each within the platform?
Marcello Mari: SDAO is our governance token! SDAO token holder will be able to participate to critical decision making for the SingularityDAO platform. We have a whole WP dedicated to explain how we are going to progressively decentralized the decision making of SingularityDAO.
Dynaset tokes are the core of the SingularityDAO ecosystem. Dynasets are basket of tokens, similar to ETFs….anyone owning 1 Dynaset token owns a portion of that basket. The AI manages these baskets by automatically rebalancing the weight of each underlying tokens.
Q2: If Singularity has cutting edge AI technology, why do you really need to complete KYC? Could it be that this technology could not help protect the account without using personal data?
Marcello Mari: Our AI doesn’t manage sensitive user data…it manages the weight of each tokens. KYC is necessary in order to make sure that we are 100% compliant with existing regulations. So it is very necessary, with or without the AI.
Q3: The wallets of all Blockchain projects say that it is very easy to manage assets with its interface, but really with singularity they can be managed much easier? What tools do you use to make this possible?
Marcello Mari: SingularityDAO is non custodial, which means that users will interact through WEB3 wallets such as Metamask. It is the smart contract that manages your portfolios. All you need to have is 1 or more dynaset token, which is represents all the underlying tokens.
Q4: Can you explain which cryptocurrencies Dynasets will support for AI trading? Since the crypto market is volatile, will you go first with high cap coins or will you support low value coins as well?
Marcello Mari: The idea is to support high quality projects, regardless of the fluction. We will initially target those small cap tokens but we are not stopping there. We’ll have active strategies including WETH/WBTC and stable coins. That will always target sharp ratio profits. Some dynasets could be the DeFi 5 for example of the DeFi Pulse Index.
Q5: What is the reason that the tokens on DynaSet are dynamically adjusted by artificial intelligence? Why is DynaSet needed?
Marcello Mari: Most projects take a passive approach to investing by buy & holding assets with limited number of transactions. @SingularityDAO will use AI to perform continuous analysis on the best possible asset allocation maximizing value creation. DAMs will follow the AI’s decision & suggestions, making their decision making and execution seamless and alpha generating.
The dynaset itself is a representation of the entirety of the underlying assets. Without a Dynaset you would need to hold and manage multiple tokens…. with a dynaset you can hold just one asset with a diversified exposure to multiple tokens while enjoying AI driven active management without one click.
AMA Twitter Section Begin:
Q6: How much is the approximate yield of a DynaSet? Will they have a portfolio with several of it sorted by APY for one to select the one that one is interested in? Or how will this actually be?
Marcello Mari: Different Dynasets will have different profit rations according to each different strategy. Our strategy are differentiated by the ability to have price prediction and sentiment analysis as oppose to other similar platforms. Basically once you have the Dynaset token, the AI will work for you!
Q7: Reading on the SingularityDAO Governance Generation Event i noticed that every token purchased during the event will be taken to a 12 month linear vesting schedule, can you tell me why this process takes one year to be completed?
Marcello Mari: We want to protect our investors from sudden market crashes as well as building a loyal and enduring community!
Q8: Wouldn’t the SingularityNET Phase Two proposal, if accepted and executed, decrease the value of the AGI tokens I hold? Because after 5 years when the new 1B tokens have all been issued, my tokens will then be half as much of the total AGI token supply as they are now. The Cardano port makes a lot of sense, but what happened to the SingularityNET/TODA partnership?
Marcello Mari: That’s SingularityNET which is different from SingularityDAO. The team is similar, a lot of resources are shared and Ben Goertzel is also our Chief Scientist. However any potential depreciation of the AGI token wont’ affect SingularityDAO in anyway.
Q9: Can you tell us about the motivation and benefits for investors to keep the SingularityDAO token in the long run? What plans do you have to help drive the demand and scarcity of the token?
Marcello Mari: SingularityDAO will become the core engine of the SingularityNET ecosystem. Similar to waht Kusama and POLS are for the Polkadot ecosystem. So the more SingularityNET grow, the more SingularityDAO benefits. Imagine getting into Polkastarter right at the beginning.
Now you have that opportunity with SingularityDAO. You can join the ecosystem early and take advantage of the potential grow. Our AI is one of the most advanced in the world of crypto. It is, in fact, the core expertise of the SingularityNET team which comprises of 3 AI research labs across the world. No project can say the same.
Q10: I see there are automated assets swaps on the whitepaper. How is automated assets swaps works? Where do you get the liquidity?
Marcello Mari: Swaps are internal to the dynaset. you can swap tokens inside each dynaset just like swaps in a uniswap pool. We get the liquidity by proactively buying tokens and bringing them to our ecosystem.
Q11: How will you block manipulative data and fraudulent information in the operation of Sentiment Watcher, which will monitor online resources to receive data and pass it on to other AI agents?
Marcello Mari: The Sentument Watcher agent has been trained over the years to cut out the noise from real information. It will sue multiple sources of data.
Q12: It came to my attention that SingularyDao allows connecting my crypto assets to the most promising projects in the initial phase, how are these “PROMISING” projects selected? Will the community have the opportunity to vote for a project to be selected and compatible with the portfolio?
Marcello Mari: We’ll have criteria that each project/token will have to meet in order to be included in our dynaset. However with progressive decentralization of our decision making process, the community will get to vote on which tokens to support.
Q13: I am an investor and staker. Is there any option to stake in singularity dao or farming. If it has please let me know I am very much interested.
Marcello Mari: Yes you’ll be able to stake your dynaset tokens in order to gain SDAO governance tokens.
Q14: What is your advantages and difference over other indexing protocol like Piedao?
Marcello Mari: PieDao is a great product but it doesn’t use AI any level!
Q15: Is your platform a decentralized platform and can be accessible from all over the world? Or there is some restrictions?
Marcello Mari: The platform can be accessed from all over the world.
Q16: What is the most economical way to buy these tokens. If I buy eth then the transfer to Nd’s personal wallet is correct to buy tokens or is there a better way that is more efficient. Personally, do I have to buy USDT, send it to my metamask holding my AGI, and will use USDT to buy $ SDAO ??
Marcello Mari: You can also purchase SDAO with your AGI, with ETH or USDT if you prefer
Q17: Can you explain how is your Tokenomics Distribution? How many tokens Will be minted? And How many tokens Will be locked by the team?
Marcello Mari: 15% is the team allocation and 8mln tokens are currently on sale for the AGI token holding community. The total circulating supply will be of 100mln.
Q18: Do you offer any discounts for token holders or token stakers on the network for better user experience?
Marcello Mari: We are the first project that offer its tokens at the same price to private investors and to the community. We are already giving a massive gift to AGI stakers by airdropping 40% of 5mln tokens to them.
Q19: How secure are our funds invested in SingularityDAO’s investment baskets? Are they insuring in case of losses or do you have certain protocols to control the risk? Can you please clarify this for us?
Marcello Mari: The platform is non custodial so the users is able to recover it’s fund by burning the dynast token. The user is always in charge of its tokens.
Q20: How much is the estimated eth fees for the process of the MantraDAO process? What will be the name of AGI once it’s on cardano?
Marcello Mari: The gas costs to purchase the SDAO token on MantraDAO will be minimal. About the name of AGI on Cardano, it is still under discussion.
Q21: SingDAO and AGI will go up massively and hand in hand because they are so close. Likewise with THETA and TFUEL.
Is SingularityNET(AGI) will not surpassed by SingDAO?
Marcello Mari: Yeah that’s the idea! AGI will be the FUEL of SingDAO…or almost the ETH of our ecosystem! I don’t know abuout surpassing AGI, but we are defentely aiming big! I think one of the most important things to note is that we are not just a regular DeFi project. We are THE DeFi project of SingularityNETm, one of the most famous and succesfull crypto projects and the first Decentralized AI project.
This is the first time since 2017 that users have the chance to participate to a new token launch of the SingularityNET ecosystem and we are sure it will be big and we’ll be able to spread our governance wide! so if you want to take part t the first ever Governance Generation Event, please start KYC now to make sure you are not going to miss out on this great opportunity!
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