AMA with SingularityDAO: Bringing Financial Sophistication AI-Managed Funds to DeFi
At 18:00 on May 10th, 7 O’Clock Community welcomed its 86th guest, Marcello Mari, the CEO of SingularityDAO.
7 O’Clock Community is one of the largest DeFi Communities in the world. It is initiated originally by 7 O’Clock Capital founding members, blockchain industry experts and enthusiasts to share knowledge of DeFi, and accelerate the implementation of blockchain technology in the real world. The community now enjoys 1,000+ subgroups, and covers 20k + active members, with the spread and report of 150 blockchain industry media.
Q1. Can you please introduce yourself as well as SingularityDAO ?
My name is Marcello Mari and I’m the Director of comms at SingularityNET as well as the CEO of SingularityDAO. I joined cryptpo in 2017 with SingularityNET as I was part of the founding team and together we did the ICO in Decenmber 2017 when we raised 36mln in 66 seconds!! My job back then was to baby sit sophia the robot around the world!
Now we’ve launched SingularityDAO, the first spin off of SingularityNET and our venture into DeFi — we are the world’s first AiDeFi project, bringing sophisticated AI to the world of Decentralized Finance.
Q2. What are the advantages of your project?
We the first project bringing Artificial Intelligence to DeFi. so if anyone understands the power of AI also understands why it makes sense to bring it to DeFi.
The advantages are multiple：
1) The creation of complex AI strategies, price prediction, sentiment analysis and so on
2) We are the spin of of SingularityNET the world leading decentralized AI porject + we benefit from some of the top experts in AI
3）AI research labs across the world
So I invite anyone to join our community @singularitydao to find out more and meet our great family!
Q3. Tell us about the goal that you are planning to achieve in this year?
We want to make AI accessible to anyone in the DeFi space because many crypto funds are already using algo trading and some of them they use price prediction…we want to make that accessible to anyone
Q4. A big problem for a lot of DeFi projects seems to be that when farming starts, the price goes down because people unload to put liquidity into the farm. Will there be an incentive to hold and not just farm & dump?
Users farming yield in our liquidity pools will receive SDAO tokens which are our governance tokens. So in order to participate to our governance, they will have to hold.
Also, many DeFi projects take a short term approach by providing huge APYs to attract liquidity very early on. However, that is a very short term approach as inflation is so high that creates huge downside pressure and eventually dilution outpaces farming yields. As a staker, you will want your returns (upside + farming) to be higher than just holding tokens.
SDAO will allow you to achieve that by having attractive APYs without creating over inflation. Moreover, our farming programme is much longer than the average (36 months) allowing the DAO to rebalance yields to find the best balance
Q5. Can you tell us how does AI or Artificial Intelligence being implemented and applied to SingularityDAO traders and users? What are the pros and cons of this AI when being used by traders in your platform?
In keeping with the project’s aim of bringing the benefits of AI to the ordinary user, we will deploy an ecosystem of AI agents to support trading decisions on SingularityDAO. These agents will help increase the value and returns of the DynaSets by providing liquidity to decentralized cryptocurrency markets.
SingularityNET was designed to use blockchain to knit together multiple AI agents with multiplespecialties into a larger, broader intelligence. SingularityDAO uses multiple specialized AI agents, detailed below, to perform different functions in the ecosystem to the greater benefit of the token holders. Each of the agents in the ecosystem provides insights which are tied together by the smart contract and DAO architecture.
The Price Predictor
The Portfolio Planner
The Strategy Evaluator
The Weighting Agent
The Sentiment Watcher
The Signal Generator
Q6. What are your plans to create awareness about SingularityDAO to the Non-Crypto & Non-English local communities? Can anybody use your project from any where or also some restricted countries? Do you have plan to conduct Ambassador Program?
Yes we already have an active ambassador program at SingularityNET and we have a lot of visibility thanks to our Chief Scientist, Ben Goertzel, he is often on the pages of the NYT and on global national TV.
Risk warning : Seven o’ clock articles cannot be used as investment suggestions or recommendation , investment is risky , investment should consider personal risk tolerance , it is suggested to conduct in — depth research of the project , and carefully make investment decisions .