Huobi launched AGIX on February 20. SingularityNET (AGIX) is considered an "old project", so why is it getting renewed attention from exchanges recently?
SingularityNET Introduction
SingularityNET is a project related to artificial intelligence, and it hopes to become a platform for coordinating AI in various fields to collaborate at scale. Because AI itself requires a lot of data and development support, but each field is basically working in isolation. In addition, AI technology exists only among a few people and a few companies, and is not more widely available.
Through SingularityNET, companies with AI development needs can directly retrieve data and various functions from the platform, and AI companies can also asset their development results and data, a process that will be realized through AGIX tokens. Simply put, SingularityNET wants AI technology to be shared and popularized through a decentralized approach.
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AGIX Token Model
At the end of 2017, the team conducted its first ICO with a total of 1 billion tokens, an offering of 500 million, and a hard top raise of $36 million. The remaining 500 million tokens, 20% were used to incentivize early users and developers, 18% were allocated to core team members, 8% were held by the foundation, and 4% were used for the bounty program. The fundraising received a total of $250 million in subscription requests due to the high market recognition of the team.
In 2021, as SingularityNET migrates its network to Caldano and to promote ecological development, the team decided to issue an additional 1 billion tokens, which will be released linearly over 91 years.
The SingularityNET token AGIX has four main functions: trading, settlement, incentive and governance. Subsequently, pledging and receiving the eco-project token airdrop were added, and all eco-projects will take out 5% token airdrop to AGIX holders, which is very beneficial to the eco-development.
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SingularityNET Development History
SingularityNET was born in the second half of 2017, and the cooperation between the founding teams should have been earlier.
In December 2017, $36 million was raised through an AGI offering.
In June 2018, the Alpha version of SingularityNET's main network went live.
In February 2019, SingularityNET Mainnet Beta went live on the Ethernet network.
March 2019, SingularityNET White Paper 2.0 is released.
September 2019, SingularityNET mainnet Beta V2 released.
November 2019, Integration partnership with PayPal is reached.
April 2020, Token Liquidity Pledge is launched.
September 2020, SingularityNET service integrated into Android app.
November 2020, release of SingularityDAO, an AI-DeFi solution.
In January 2021, SingularityNET decides to migrate from Ethereum to Cardano and issue 1 billion new tokens, which will be released month by month over 91 years.
On 5 2021, the new token AGIX replaces AGI through a hard fork, and the new token is compatible with Ether and Caldano.
2021 7 & 7, AGIX-USDT trading pair opens on UniSwap.
In May 2022, Converter Bridge goes live.
From 2022 to 2023, SingularityNET starts to continuously fund the development of eco-projects, and no roadmap for 2023 has been announced yet.
Team Background
Ben Goertzel: Founder and CEO, he is a PhD in mathematics and an expert in the field of general AI.
David Hanson: Chairman and head of robotics development at SingularityNET, where the Sophia robot was built.
Sophia the robot: developed by SingularityNET partner Hanson Robotics, is the face of the project and a core node.
SingularityNET's team has a very high-end background, with the core team all having PhD degrees and unquestionable strength in expertise. The project has not been financed by investment institutions, and only one round of ICO has been conducted.
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Summary
SingularityNET is a cutting-edge technology-based project, and the team is very experienced in the field of artificial intelligence. The project has been continuously disclosing its progress since its inception, and its operational status is very healthy. After ChatGPT drove the AI explosion, SingularityNET logically became a hot spot sought after by the crypto market and saw a sharp rise in February.
