SingularityNET and Minswap Labs team up to revolutionize Cardano DeFi

SingularityNET and Minswap Labs entered into an exclusive agreement in order to fulfill their joint commitment to introducing superior products and services to the Web3 space.

In accordance with their formal agreement, both entities will investigate and advance various integrations that center around the utilization of Miniswap’s decentralized exchange framework to improve the usability and accessibility of SingularityNET’s native token.

In addition, SingularityNET’s AI technology will be leveraged to enhance the Minswap platform, improving the availability and utility of SingularityNet’s convention token. As a consequence, DeFi and AI will be integrated to generate novel functionalities in both domains.

In addition to the immediate benefits associated with an AI-enhanced interface, the two entities will concentrate on maximizing liquidity pools and effectively implementing token incentives to increase participation in their respective ecosystems.

As a result of Minswap’s Liquidity Pools catching the AGIX holders—representing 99% of the TVL on the Cardano network—SingularityNET was able to gain an advantage in its governance vote for the Artificial Superintelligence (ASI) Alliance.

SingularityNET CEO Dr. Ben Goertzel commented on the relationship, saying that as AI dominates the world economy and decentralized AI grows, close collaboration between AI and DeFi technologies will become crucial in various ways. 

There are numerous methods to utilize modern AI to enhance the functionality of a premier DEX, such as MinSwap. These include integrating intelligent interactive user interfaces to bolster Minswap’s capabilities and employing AI for causal and predictive analysis within exchange agents. Conversely, by increasing token liquidity, MinSwap could be crucial in bringing more SingularityNET AI capabilities to Cardano.

Long Nguyen, the founder, and CEO of Minswap Labs, stated that the collaboration has opened the doors to investigating various feasibility studies for Minswap V2, LP association, AI integrations, and the potential integration of token bridge capabilities from SingularityNET.

Dr. Ben Goertzel established SingularityNET with the objective of developing a decentralized, democratic, inclusive, and advantageous artificial general intelligence (AGI). The company’s exponential growth can be attributed to the inclusion of proficient engineers, scientists, researchers, businessmen, and marketers on the team. 

Minswap, a Decentralized Exchange (DEX), won the Best DeFi Award at the 2022 and 2023 Cardano Summits. Some of Minswap’s groundbreaking contributions to the Cardano ecosystem include the FISO model, widely considered the most equitable ISO model among Cardano users, and an emphasis on Protocol Owned Liquidity.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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