SingularityDAO – SDAO

SingularityDAO is a decentralized portfolio management protocol that allows anybody to manage crypto assets safely and easily. The protocol promotes a new ecosystem of Digital Asset Managers with the non-custodial qualities that characterize DeFi and trading methods delivered to you by professional traders and the help of AI data analytics services.

What is SingularityDAO – SDAO?

SingularityDAO aims to eliminate all the issues currently associated with investing in Decentralized Finance – DeFi and Cryptocurrency. Such as the stress of having to decide which projects to invest in, the rampant emotions of market cycles that come with the high volatility and the inconvenience of constantly managing and rebalancing your portfolio.

Therefore, the SingularityDAO created sophisticated AI algorithms that can track market sentiment, carry out technical analysis, and automatically rebalance assets while also keeping track of national and international political and economic events. Together with a variety of other variables, all of which are listed and can be found on the SingularityNET Marketplace.

What is a DynaSet?

A DynaSet is a diverse portfolio of cryptocurrencies that is constantly rebalanced, reweighted, and curated by the protocol using cutting-edge AI. It’s considerably like a Hedge Fund in traditional finance. Picture it as a basket of tokens that are automatically rebalanced by people and through trustless smart contracts. 

How is a DynaSet programmed?

Consider a DynaSet made up of USDC and BTC. 

  1. The trading team or Dynamic Asset Manager – DAM exchanges USDC for BTC if the indications of the AI team has suggested that BTC is showing symptoms of a price increase.
  2. After waiting for BTC to reach a certain price, the DAM exchanges it back into USDC for a profit.

What happens to your funds when you invest in a DynaSet?

Holders of DynaSet have complete control over their private keys, allowing them to withdraw their money whenever they want. Fom Q1 2023 DynaSets will be always open so that users can redeem whenever they choose to. 

Which DynaSets are there? 

Currently the list of DynaSets contains; 

  • dynBTC – which gives you exposure to Bitcoin using long only strategies
  • dynETH – which gives you exposure to Ethereum using long only strategies
  • dynDYDX – which is capable of shorting and applying leverage on the DeFi exchange dYdX.

In the future more will be listed such as the Defi Pulse Index (DPI), the SingularityNET universe, which includes the AGI token, and the dynaset of Launchpad tokens.

Singularity DAO DynSets

The community will be involved in the creation of SingularityDAO’s relevant DynaSets and will eventually be allowed to submit their own suggestions. 

This review of SingularityDAO – SDAO was created for informational purposes. This article is not intended for promotion.

General info about SingularityDAO – SDAO

Team

The founders of SingularityDAO are Marcello Mari and Mario Casiraghi.

Marcello Mari is the CEO of SingularityDAO. He was part of the founding team of SingularityNET in 2017 and was already a contributor to TechCrunch, Wired and The Guardian. With experience in marketing and PR across a number of tech start-ups in London he is ready to give his all to the project. 

Mario Alberto Casiraghi is the CFO of SingularityDAO and Director of Comms at SingularityNET. Prior to SingularityDAO he was co-founder and head of blockchain entertainment company Xfinite. He also started his blockchain journey as founder of DandYlion, a leading blockchain community focusing on tech and financial education.

Sridhar Kolapalli is the CTO of SingularityDAO with over 17+ years of professional experience in Information Technology (IT) Industry and an extensive knowledge on architecture & application design including Microsoft & Open Source Technologies.

Together with the help of advisors Chris Poulin and world renowned Ben Goertzel who is widely known as the “father of Artificial General Intelligence” and has featured on mainstream podcasts such as Joe Rogan and Lex Fridman, the team is at the forefront of DeFi 2.0 as it tries to rebuild, reimagine, and revitalize traditional financial instruments in the blockchain and cryptocurrency space.

Partnerships

Autofarm

SingularityDAO has finalized its first on-chain agreement with Autofarm in November 2021. This partnership enables SDAO single asset stakers to utilize the yield optimization approach of Autofarm to automatically compound their assets on the Binance Smart Chain – BSC. 

SoftServe

 

SingularityDAO also made a collaboration with SoftServe, Inc. The company that is Google’s Partner of the Year (2020) and already partnered with Amazon Web Services (AWS), Google Cloud, Microsoft, Apple, IBM, and Nvidia provides enterprise-grade computing solutions to the protocol by striving to make sure that everything created complies with the strictest security requirements.

Use case of SingularityDAO – SDAO

The main use case for the SDAO token is to earn a part of the performance fees of all the listed DynaSets.

How to earn SDAO tokens?

Users who can provide liquidity to the token pairs will earn you LP tokens, which can then be farmed in order to receive more SDAO tokens. But you can also stake your SDAO in staking pools to earn more tokens as well.

Providing Liquidity

A liquidity provider is a user who funds a liquidity pool with crypto assets they own to facilitate trading on the platform and earn passive income on their deposit. 

In order for the DynaSets to function there is a need for active Liquidity Pools. In return for providing this liquidity you will be able to earn SDAO tokens as a reward. Currently, providing single-sided liquidity is not supported. A detailed explanation on how to provide liquidity can be found here.

Staking

Rewards can also be staked within the platform to earn additional benefits. SingularityDAO will offer two forms of staking, namely bonded and flexible. 

Bonded staking allows you to lock your tokens for a set period of time while flexible staking offers lower rewards, but you are able to un-stake at any time. For a detailed explanation on how to stake please visit How to Stake your SDAO.

Yield Farming

Currently you can yield farm five different LP tokens associated with NTX/ETH, SDAO/ETH, SDAO/USDT, AGIX/ETH, AGIX/USDT trading pairs. In the future there will likely be more options added.

When farming your yield, you can view and estimate your rewards in the Yield Farming portal, but please keep in mind that this value can and likely will change depending on certain factors. For example:

  • Reward pool size
  • Number of people staking
  • Alternative incentives

For a more detailed explanation take a look here.

SDAO Governance

The SDAO governance tokens grant the right to vote on which DynaSets will be included in the future and to vote on and update underlying economic variables off the protocol.

What are the Fees on SingularityDAO​?

The platform’s compensation structure consists of a management fee and a performance fee. Singularity DAO - Fees

Management Fees

All management fees will be paid in full to the DAM in ETH. They are taken regardless of the performance of the DynaSet.

  • 1% annualized for dynBTC and dynETH
  • 2% annualized for dynDYDX

Performance Fees

Performance fees will only be paid if the DynaSet performs above the pre-defined Hurdle Rate. These fees will be split between the DAM and DAO.

  • 10% for both dynBTC and dynETH 
  • 20% for dynDYDX

Performance fee explained

If Bitcoin went up 10% over the given time period but the DynaSet has increased 15%. 

The difference, the Hurdle Rate, would be 5%. Of that 5% the performance fee is a 10% fee split between DAO and DAM. When there is no profit generated over that same time frame, the performance fee would be 0.

Where are the fees used for? 

The fees allocated to the DAM will be used by SingularityDAO to improve the project in a number of ways;

  • Replenishment of SDAO supplies for staking rewards
  • Strategic investments in new and upcoming projects
  • Platform development costs
  • Increased marketing budget
  • Addition to the aforementioned Management Fees, if ETH Gas proves to be extortionate

Tokenomics

The SDAO token has the ERC20/BEP20 token standard. SDAO will have a total supply of 100,000,000 (100%) with the initial circulating supply at 58% or 58M currently.

Token allocations

The allocation of the SDAO token was done in the following way;

  • 35% Allocated to farming
  • 15,05% Team & Advisors
  • 14,70% Ecosystem Fund
  • 11,28 Private Round
  • 8,06% Community Sale
  • 5% Agi Holders Airdrop
  • 5% SingularityNET foundation
  • 3,33% Seed round
  • 2,33% Public Sale
  • 0,25% Community Volunteers

Tokenomics

Where to buy and sell SingularityDAO – SDAO?

The SingularityDAO platform is where you can buy or swap, farm and stake SDAO. A step by step guide can be found here.

What do we think about SingularityDAO – SDAO?

Singularity DAO - Logo

SingularityDAO – SDAO conclusion

The SingularityDAO protocol is a network of smart contracts and AI agents that ultimately works to improve the performance of expert traders and aims to outperform any human trader. Convinced that the SingularityDAO structure protocol favors everyone, the DAO members work to develop a DeFi system that will improve the finances of each of their participants.

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Disclaimer: Trading and investing in cryptocurrencies (also called digital or virtual currencies, altcoins) involves a substantial risk of loss and is not suitable for every investor. You are solely responsible for the risk and financial resources you use to trade crypto. The content on this website is primarily for informational purposes and does not constitute financial advice.