We are pleased to announce that TDefi has incubated SingularityDao in its second cohort. An accelerator and mentorship program for DeFi and NFT startups, TdeFi provides a platform with world-class resources and ecosystem support to the upcoming ventures in the Defi ecosystem. SingularityDAO’s is incentivizing the purchase of high-quality smaller-cap cryptocurrencies for bringing more liquidity to corresponding tokens and increasing the inflow to promising projects.
Founded by the visionary Dr. Ben Goertzel, chief scientist at Hanson Robotics, SingularityDAO is a layer 2 non-custodial DeFi protocol that allows its users to create and trade dynamic token sets similar to the traditional ETFs. SingularityDAO spawns from the house of SingularityNET, which was the fastest ICO in the world raising $36mn in 60 seconds in 2017. Interestingly, Ben also directed the development of Sophia, the humanoid AI-infused robot (able to display more than 50 facial expressions), and has garnered a lot of media attention lately.
SingularityDAO is structured in three layers, and designed to leverage AI at every level. The elementary layer on SIngDAO is called DynaSets, which essentially governs most aspects of the protocol wherein every DynaSet is represented by a token. The second layer constitutes the SingYield tokens based on the ETF-like DynaSet tokens. SY tokens allow users to farm value obtained when smart contracts automatically loan out
DynaSet tokens to borrowers who participate in arbitrages and AI-based trading. The topmost layer comprises the SingDAO token, which is earned by allocating the SY tokens within the platform.
Visit this Medium publication for more information on the SingDAO protocol
AI-Curated Altcoin Baskets
AI Robo advisors guide users to purchase baskets of altcoins (DynaSets)
Yield Farming on Altcoin Baskets
Users can farm SingYield tokens by staking DynaSet tokens into the liquidity pool.
Users can interact with the ecosystem by purchasing a MetaSet that aggregates all the DynaSets in the system without any technical expertise.
AI Market Strategies
Value is generated through rebalancing and trading DynaSets from the liquidity pool through AI algos.
The TDeFi team is determined to onboard emerging startups that promise to disrupt and not just raise funds only to be stagnant. With so many projects in our acceleration drive, we are confident that these value-driven ideas will usher in a censorship-resistant, more risk-tolerant, governed and most of all a democratic future.
Learn more about TDeFi, its team and modus operandi by navigating to the official website