The current market environment is hard for crypto investors, but this decentralized autonomous organization (DAO) claims that Artificial Intelligence (AI)-powered portfolios can provide traders with a significant advantage.
It has been a rough few months for the cryptocurrency market, with Bitcoin experiencing an unparalleled amount of consecutive weekly losses.
And the decentralised autonomous organisation behind the AI-powered DeFi crypto portfolio asserts that the recent downturn demonstrates why traders want cutting-edge technologies to remain competitive.
DynaSets, the main product of SingularityDAO, underwent closed beta testing between December and March; testing is now ongoing in an open environment.
V1 will be officially released at the end of June, accompanied by a redesign of its user interface, providing DynaSets clients with an intuitive experience that’s matched by vivid branding.
During the beta phase, only a long-only trading strategy was implemented. With the launch of V1, the team will introduce options for shorting the market and applying leverage to transactions.
Following the conclusion of the beta, all three DynaSets outperformed the market by greater than 15%, exceeding the majority of the top crypto funds.
Although the current open beta has not yet concluded, the numbers support the effectiveness of Dynasets and their capacity to safeguard holdings during bad markets.
The Mechanism:
Singularity DAO asserts that its dynamic asset manager is driven by artificial intelligence; it monitors market developments and manages assets.
DynaSet transactions are aggregated to ensure that consumers incur lesser transaction fees.
Other features include staking, as well as an unbonded staking program that allows token withdrawals at any moment.
This last feature may not deliver the greatest returns, but it might provide peace of mind and much-needed flexibility given the current market volatility.
Further places, Singularity Launchpad displays only the most innovative new products, both from within DAO’s ecosystem and from outside as well.
Aim Of Becoming Chain Agnostic:
Over time, SingularityDAO aspires to become chain agnostic, allowing users to connect to any chain of their choosing. This is a much-needed boost for blockchain interoperability and the elimination of existing silos.
In the future, a DeFi dashboard will provide customers with enhanced portfolio analytics, separating the signal from the noise and revealing trends that other data platforms may have missed.
Knowledge is power, and bad markets provide new obstacles for capital preservation-minded investors.
SingularityNET and SingularityDAO acquired a $24 million investment from LDA Capital Limited in May 2022 in order to expedite its product roadmap and increase the adoption of Artificial Intelligence solutions.
The global market for Artificial Intelligence software is expected to reach $126 billion by 2025, according to data cited in an announcement.
A DynaSet on BNB Chain is expected to open by the end of June, and as we head into the third quarter of this year.
An AI-automated DynaSet will launch for the first time, rebalancing between tokens automatically utilising trading bots while keeping human traders informed at all times.
Additionally, DynaSets will debut on EVM-compatible blockchains such as Avalanche.
The potential of artificial intelligence to expand the capacity of machine learning and develop new financial products may shortly be running on top of blockchain-based cryptocurrency systems.
The technology will advance significantly as a result, becoming one of the most widely used emerging technologies.Given how rapidly the market is anticipated to expand, Blockchain and Artificial Intelligence will inevitably intersect.