SingularityDAO, a spin-off of SingularityNET, has announced DynaSets – a diversified portfolio of crypto assets managed by hedge fund professionals and artificial intelligence (AI).
According to a company release, DynaSets is now in Beta and hedge fund traders “will play a major role in all aspects of decision making.” As the platform evolves, 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 these crypto traders.
Marcello Mari, CEO of SingularityDAO, explained that hedge fund quality trading tools have been 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.”
The SingularityDAO community has been invited to participate in the Beta iteration and these individuals were given a five day window, beginning December 15ht, to commit their funds. Following this, tokens were “forged” into weighted assets and the DynaSet can begin trading. Approximately $3 million were committed.
The company said there are currently three DynaSets:
- dynBTC, consisting of Bitcoin and Stablecoins;
- dynETH, made up of Ethereum and Stablecoins;
- dynSing, including all currently launched SingularityNET Ecosystem tokens (SDAO, AGIX, NTX and Stablecoins).
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.
SingularityDAO stated that DynaSets are designed to handle many billions of dollars.
Chris Poulin, CTO of SingularityDAO, commented:
“Our new Beta version represents our first successful attempt to advance the innovation in the DeFi space.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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