Today marks the Beta launch of DynaSets, hedge fund-like AI-powered dynamic token sets
SingularityDAO, the first project to spin off from SingularityNET, is announcing the Beta launch of its DynaSets. As SingularityDAO’s industry-leading AI crypto portfolio manager, DynaSets are diversified baskets of cryptocurrency assets dynamically managed by a combination of professional Hedge Fund traders and AI, and curated by the protocol.
For this Beta launch, Hedge Fund traders will play a major role in all aspects of decision making, aided by ‘in training’ AIs. As the platform is developed, more and more control will be passed from Humans to AI until, eventually, the majority of decision making will be handled by AIs overseen by Humans.
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Marcello Mari, CEO of SingularityDAO, said: “Until today, hedge fund quality trading tools were only accessible to those with enough network and liquidity. With our DynaSets we plan to democratize access to sophisticated trading tools powered by Artificial Intelligence. Anybody can add liquidity to our DynaSets and let our expert trading desk do the job while remaining in total control of their crypto.”
Influencers, Investors and the SingularityDAO community have all been invited to take part in the Beta launch. During the contribution phase, participants had a 5-day window from December 15th to submit their funds, after which all submitted tokens were “forged” together into the correctly weighted assets and the DynaSet can begin trading.
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Today, those contributions will be forged into three DynaSets: dynBTC, consisting of Bitcoin and Stablecoins; dynETH, made up of Ethereum and Stablecoins; and dynSing, including all currently launched SingularityNET Ecosystem tokens (SDAO, AGIX, NTX and Stablecoins). In total, almost 3 million dollars worth of tokens were contributed. These three DynaSets will now run for two months, after which point the Beta test will conclude, any upgrades and changes will be made, and DynaSets will be opened to the general public for participation.
DynaSets leverage multi-layered smart contracts interacting with the 1inch Network to optimize trade efficiency on decentralized exchanges. With the ability to react to signals immediately and execute multiple trades across multiple liquidity pools simultaneously, limit slippage, increase efficiency and minimize fees, DynaSets have the capacity to optimize a portfolio’s Alpha generation. No centralized exchanges, sign-ups or accounts are required.
Much like Hedge Funds in traditional finance, DynaSets are dynamically managed collections of utility tokens. However, the DynaSet Asset Manager (DAM) can either be human, AI, or a combination of the two. SingularityDAO’s DynaSets are designed to handle many billions of dollars, and execute trades worth multi-millions of dollars in a single transaction.
“Our new Beta version represents our first successful attempt to advance the innovation in the DeFi space,” said CTO of Singularity DAO, Chris Poulin. “In this initial version, we have a combination of quantitative algorithms running, with human traders making the decisions. Meanwhile, in the upcoming 1.0 version, we will have finalized the synergy between man and machine. With both the crypto portfolio making passive yield 24×7, and our experts making the big alpha plays, this represents a true human-in-the-loop AI offering, and a revolution for DeFi.”
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