Let me ask you a very simple question today. How many crypto coins or tokens do you have in your portfolio and across how many different wallets? As crypto investors, we have always secretly wished for a Crypto portfolio management tool especially when every other altcoin is pumping hard like right now.
But for a long time, such tools were out of reach to small investors both in cost and access. But now that’s no longer true. And one of the best portfolio management tools for professionals driven by Artificial Intelligence that anyone can use is our subject today, SingularityDAO.
What is SingularityDAO?
SingularityDAO is a DeFi protocol that uses AI (artificial intelligence) to monitor market trends and help investors manage their assets. One major way they do this is through dynasets, which are managed trading pairs.
The project started in May 2021 and the Team is transparent with who they are on the front of their website. Also, co-founders, Marcello Mari and Mario Casiraghi started the project. The leadership now includes 5 others including an AI scientist, a Marketing Head, and a Product Lead.
Moreover, SingularityDAO is growing fast. They are hiring for 14 different remote positions right now. Also, they’ve raised $5 million so far to grow the project. And the project is in the open beta stage now, meaning anyone can try it out and use it.
What makes SingularityDAO different is that anyone should be able to access professional tools to help their crypto investments. Not just the big boys. Therefore, SingularityDAO is working to give the entire market investing tools. Before this, only accredited and institutional investors could access these tools with something like Grayscale or Van Eck Investment funds.
More About SingularityDAO
SingularityDAO and its dynasets are for everyone. A dynaset is an AI-powered trading pair that’s managed for you by an algorithm.
Also, dynaset currently has 2 assets in it: BTC and USDC. This set which is on Ethereum is wrapped in BTC so both tokens are ETH assets. For example, here is their Bitcoin dynaset version is dynBTC.
But, what does the dynaset do? It’s a dynamically managed (that’s the dyna part) investment where AI tools manage when the set should be buying more BTC or selling it to hold USDC.
In addition, in the closed beta test, the dynasets tokens, dynBTC, dynETH, and dynSING did great. Beat their underlying assets for the 3-month test that ended last week. In other words, dynBTC beat just holding BTC and dynETH beat just holding ETH for the same 3 months.
Also, they soundly beat wBTC, and the Grayscale and Van Eck ETFs. This means they did better than an unmanaged option and other professionally managed options.
This morning we crossed $4,000,000 assets under management! Which #DynaSet are you in?
— SingularityDAO (@SingularityDao) April 5, 2022
- A time series forecasting program
- A GPT-2 model for generating text
- A geolocator
- A sound separator for audio files
- Facial detection software, among others.
Also, the SingularityDAO platform itself has a bridge, swaps, and unbonded Staking. Also, it has yield farming, and a launchpad, and works in both ETH and BSC ecosystems and wallets.
In addition, NuNet, and its token NTX, are also part of the ecosystem. Many in Singularity’s leadership are advising the project. It’s a project focused on decentralized computing and Web3 infrastructure.
Partners, Investors & Tokenomics
Partners and investors include some of crypto’s heavy hitters like Alphabit, AU21 Capital, QCP Capital, GBV Capital, NewTribe Capital, Phoenix CryptoVC, Exnetwork Capital, CSPDAO, and 7 O’Clock Capital. Also, Singularity.Net is a strategic investor and its AGIX token is available at SingularityDAO and is part of the dynSING dynaset.
On the other hand, SingularityDAO has its native token, SDAO. Also, you can stake it directly with Singularity although interest rates are not available yet. Therefore, new pools are opening soon with new interest rates and you’ll be able to stake from the BSC chain too.
Moreover, the total supply is 100 million tokens. Here’s the allocation:
- 5% airdrop to AGI token holders
- 15.05% Team and Advisors
- 5% SingularityNET Foundation
- 2.33% Public Sale
- 8.06% Community Sale
- 11.28% Private Funding Round
- 3.33% Seed Round
- 14.7% Ecosystem Fund
- 0.25% for Community Volunteers
- 35% for Farming
Note: They list their intended use of funds too. They include half for liquidity provisioning, 15% for listing fees, and the other 35% for operations and management.
Also, all 100 million will be out in the market in 3 years and early investors have a 1-year lockup with monthly vesting schedules. The current price of SDAO is $1.57 and the current circulating supply is 40.2 million giving SDAO a market cap of ~$63 million. Finally, you can buy the coin direct through the app or with USDT at Kucoin and Gate.io OR with ETH on Uniswap or BTC at Gate.io.
Roadmap, Risks & Competitors
SingularityDAO’s roadmap is big and ambitious. Some of its finer details include:
- Cardano integration
- Using Singularity.Net as their host so they can move towards their goal of decentralization. No reliance on central platforms like Amazon Web Services (AWS)
- Integrating with other non-EVM blockchains like Near, who they are in talks with now
- NFT platform and NFT dynasets
- Improved customized dashboard
- Gamification on the platform and more
The fifth and final piece of the @SingularityDao 2022 Roadmap: 'Extras'
— SingularityDAO (@SingularityDao) March 15, 2022
Also, if SingularityDAO’s printed roadmap in its whitepaper is any indication, then they stand a good chance to achieve these goals eventually. Their first Q2 2021 roadmap listed things like:
- Minting their coin
- Launching the platform and first dynasets
- Deploying the token and
- Opening the first liquidity pools all came true for them.
There’s lots of reason to think they will reach their goals on this roadmap too. As we’ve mentioned, professional investment funds like GBTC and XBTF (Van Eck) are direct competitors on the professionally managed side.
Moreover, others like DHF (for Decentralized Hedge Fund) or Solrise are competitors on the decentralized, unmanaged side. But really, all 4 of these options are very different from what SingularityDAO offers.
In addition, Grayscale and Van Eck are just Bitcoin funds that buy and hold BTC. DHF is just a short-term trading fund that trades mostly in the BTC-USDT and ETH-USDT trading pairs just buying and selling. Solrise lets people create and track their fund returns. Cool concept, but again, not the same thing.
- The AI doesn’t work well and investors do worse holding the dynaset pair than holding the native asset solo. This is a big one but we may not know how much of a risk it is until after something has happened. But if you like BTC and you are long anyway, it may be tough to consider pairing it with a stablecoin. That said, in bear and choppy markets, like we are in now, the dynasets could make a big difference
- If Singularity looks to grow, it will be growing into a very competitive marketplace with competitors much larger than they are. Grayscale has $43 billion in assets under management, $30 billion of which is the Bitcoin Trust. Can they last long enough to carve out their place?
- What if DAO governance or the move to decentralization fails or hits major challenges. No DAO has been around long enough to be a successful example to others yet.
There are other general crypto market risks but we see these as the 3 largest. There is room for both professional funds like Grayscale and SingularityDAO.
AutoFarm SDAO Staking = 29% APY
BNB Chain Unbonded = 25% APR
BNB Chain SDAO/BUSD = 21% APR
BNB Chain SDAO/BNB = 20% APR
Eth SDAO/ETH = 19% APR
Eth Unbonded = 18% APR
Eth SDAO/USDT = 13% APR
— SingularityDAO (@SingularityDao) March 14, 2022
Recent SDAO Price Activity
After peaking at $6.62 in September, SDAO has been on a long steady downtrend down to its recent low of $0.70 in late February. However, since then, returns have been steadily rising with a 30-day return of 125% and a 99% return just in the last 2 weeks.
So that’s the story on SingularityDAO. Making investing easier for everyone, not just institutional investors. Their dynasets are a new, decentralized approach to using an AI-based algorithm to manage money. And so far it seems to be working.
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