AMA with SingularityDAO
Nebo: @Nevermind_AI Hi Marcello, thanks a lot for joining us today.
Marcello: Hello, thanks for having me :)
Nebo: Great. Could you please introduce yourself and tell us about your role within SingularityDAO?
Marcello: For sure :)
My name is Marcello Mari, I’m the Director of Comms at SingularityNET as well as the CEO of SingularityDAO….yes I like to keep my self very busy 🤣
I was one of the first employee of SingularityNET in 2017, did the original ICO when we raised 36mln in 66 seconds and had fun babysitting the robot Sophia for the months of the ICO.
After that I went on doing two more token raises, one pretty succesfull although the project pivoted onto something else, and the other one failed in the cold f the crypto winter. Both connected to Hollywood movie iundustries.
I then came back to my original love, SingularityNET in early 2019 :)
Since the summer 2020 I’m CEO of SingularityDAO
We are basically building an AI driven decentralized Crypto hedge fund, leveragin the expertise of the 3 AI research labs of SingularityNET.
Nebo: Interesting! is SingularityNET somewhat the parent company of SingularityDAO?
Marcello: SingularityNET is the mother of SingularityDAO :)
Nebo: Oh haha :)
Marcello: the team is pretty much the same. but we also have some people dedicated exclusively to SingularityDAO.
I’m jelous of my team 🤣🤣
Marcello: Here is a family picture of SingularityNET from the early days with the founding team. I’m there in the middle, the other ones are Simone and Ben Goertzel. And then at the bottom….I’m sure you all know Sophia pretty well :D
Nebo: Sophia is very famous yes! 😂
Nebo: I see, do you have competitors at the moment building something similar?
Marcello: TokenSet is one of the most mature competitors, then there is PieDAO, DHedge, Indexed.finance and perhas enzym.finance….
However none of them uses Artificial Intelligence. None of the have the level of financial sophistication of SingularityDAO. And especially they don’t have SingularityNET and Ben Goertzel with over 25 years exp applying AI to finance!
Nebo: Got it! How the SingularityDAO AI will manage crypto funds? Will it buy and sell assets based on market dynamics on a daily basis or take a slower, long-term approach similar to traditional equity funds? Will there be any human input (ie, choosing a style of investment) or is it fully automated?
Marcello: very good question. So we are going to use Dynasets which are Dynamic Sets of Tokens containing underlying crypto coins. These Dynasets will have a pre-set wieght and the machine learning will automatically rebalance the weight of each basket depending on market conditions. This should happen on a regular basis… at the beginnign there will be the need of human supervision until the ML model are properly trained. we will have Price Prediction algo that will allow to literally have insights about the future prices of the tokens and to infer a sharp ratio. Plus we’ll also inegrate some Sentyment analisys algos that we’ll help understand where the market is going.
Nebo: Interesting — What’s the token ticker and its utility?
Marcello: The ticker SDAO and its a governance token since we are ….you know a DAO 🤣
Nebo: Cool — so what can we expect from SingularityDAO in the near future? What are your plans?
I like the ticker btw, good choice!
Marcello: ahah thanks you :D Well we just announced our Governance Generation Event where we allow AGI holders to purcahse the SDAO token at a discounted rate. All AGI holder have to do is to go through KYC and tehy ahve time until the 5th of May to do so. All the info can be found on our blog.
We are then launching our MVP few days after our TGE happening on the 13th of May! I promise it looks really hot :D
After that, we are goin to introudce more Dynasets and start with the dradual decentralization of our platofmr and encourage community participation. We have strong institutional backers and we are now onboarding the AGI community to support us too.
Nebo: Yes — it looks very solid indeed.
This is the article for those who are interested btw! We are bullish on SingularityDAO — worth a look:
When are you planning for listing?
Marcello: Because of SingularityNET’s srong relationship with excchanges we’ll have a preferred route to be listed on CEXs and we are already talking to few of them. We’ll list on Uniswap right after our TGE.
Nebo: Awesome, feels like the best is yet to come! I’m sure the community has a lot of questions to ask so let’s have them!
Member 1: Will Singularity DAO have special products, tools / widgets for DEXes and also aggregator of DEXes like 1inch?
Marcello: We have integrated on the smart contract level Uniswap and we are planning to integrate other dexs such as 1inch or bancor. We also have a specific feature that we call “The Forge” (however I can’t promise the name will remain the same :D ) that will allow to buy all the underlying tokens from a DEX using ETH….so iun a wawy we can say that we are already aggregating DEXs :)
Member 2: I saw you partnering with the Autonio Foundation, my question is, Does SingularityDAO use the same operating system as Autonio? and what kind of AI is used in the operation of the SingularityDAO?
Marcello: yes Autonio is one of our closest partners and we’ll use their Intellgience MM to bring liquidity to our ecosystem.
Member 3: Can you elaborate a bit more on Dynasets. Will the Dynasets be presented to investors as different options that are mapped to various balancing strategies?
Marcello: At the beginning we’ll be offereing a small number of Dynsets including some of the most popular indexes like Defi Pulse, Defi5, NFT governance tokens etc… Users we’ll be able to buy Dynaset tokens that represent the owenrship of these tokens
Member 4: We all know that recently there have been many BSC, NFT and Defi projects. How can SingularityDAO deliver a new breakthrough in the world of crypto? What motivated you to launch the SDAO project?
Marcello: The motivation is really 2fold — on one hadn we want to bring more liquidity to high waulity projects to generation great akpha for the users, and the other hand we want to make it easy for the users to get exporue to the crypto eocnomy.
Member 5: Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
Marcello: tyeah we have created a constitution that goes exactly though all the of the decisoon the community will be able to take and we want to move towards a full decentralized governance model. I ivnite you to explore more on the topic on our WP
Member 6: Sorry if this has been answered before, but does the AI track portfolio of all network ranging from ETH, BSC, Polygon, etc?
Marcello: currently we are on Ethereum but SingularityDAO is destined to become multichain. So this is the very beginning of our journey…imagine what will happen wehhn our AI will be able to integrate Polygon, BSC etc 🤩🤩
Member 7: Why does a DAO have to have a CEO?
Marcello: yeah that also a good question! Ideally in 5 years from now, there won’t be the need of a CEO anymore, however we need to get there progressively as outlined on the WP. Our hope is to create a strong and participative community but this is not alway the case in crypto
Member 8: How secured is your smart contracts code, did you ever audit it via any third party? What has been the biggest challenge you have faced in your project development?
Marcello: Yes we are auditing all our SC with Certik
Member 9: How is Singularity DAO different from other DAO?
Marcello: We are the only one that have AI managing our portfolios. Also we are part of a large ecosystem and we are the first movers in this ecosystem. SingularityNET is creating and is ready to launch new spinoffs. in medical data, decentralized computing power, decentralized media but also SophiaDAO.
Especially Sophia DAO will give users the opportunity to particpate to collectively shape the vision and dreams of Sophia the robot. SingularityDAO is the first of this spin off because is the CENTER around which all of these spin off gravitates!
It will be the bank of the SingNET ecosystem! Imagine be able to use SophiaDAO tokens in our Dynasets. So that you hold your tokens, you get the Alpha and at the same time you can vote on what Sophia can think, feel, or say. Her vision. Her feelings. SingularityDAO is the BEGINNING of all of this and you guys have the opportunity to witness the start of it!
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