Partnership between SingularityNET, a pioneering decentralized AI platform on Cardano, and Minswap Labs, the inaugural multi-pool decentralized exchange on the same network, aims to revolutionize Decentralized Finance (DeFi) on Cardano. By combining the power of Artificial Intelligence (AI) and DeFi, they strive to surpass existing boundaries and enhance the system, ultimately delivering superior products and solutions for the Web3 community.
SingularityNET Partners With Minswap Labs
SingularityNET’s AI platform and Minswap, Decentralized Exchange from Cardano, have joined forces. They aim to explore synergies in the crypto sector, merging AI technology with Decentralized Finance (DeFi) for enhanced functionalities and productivity within each field.
SingularityNET and Minswap Labs plan to collaborate on several projects, using SingularityNET’s AI tech to enhance the functionality of Minswap. This will make Minswap more user-friendly and accessible, while increasing the value of SingularityNET’s AGIX token. Additionally, they aim to create new tools and offerings for the Web3 community.
Furthermore, the businesses aim to enhance the efficiency of their liquidity reserves and smartly apply token rewards to boost the acceptance and functionality of their individual platforms. The partnership between Minswap and SingularityNET in the ASI Alliance was initiated, with the latter receiving support from the former.
“Ben Goertzel, CEO of SingularityNET, explained that AI technology can greatly improve the functionality of a high-performing decentralized exchange like MinSwap in numerous ways. For instance, AI can create more intuitive and user-friendly interfaces for traders, as well as conduct predictive analysis to optimize transactions and aid in managing liquidity.”
The projects may involve collaborating with LP (LP stands for Liquidity Provider) on future tasks, exploring various AI integrations, and possibly adding SingularityNET’s token bridge functionality to Minswap in the future.
ADA and AGIX Prices to Rally
Working together on different parts of each ecosystem will bring benefits to Cardano, including increased liquidity. In turn, this collaboration is expected to fuel overall expansion within the cryptocurrency market.
In the previous 24 hours, ADA experienced a 1% decrease in price, now standing at $0.45. The lowest and highest prices within this timeframe were $0.44 and $0.46 respectively. Additionally, there was a significant drop of 35% in trading volume over the last day, suggesting lessened enthusiasm from traders.
At present, the AGIX price is sitting at $0.824, marking a rise of over 1% within the past 24 hours. The minimum and maximum prices during this timeframe were $0.791 and $0.866, respectively.
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2024-04-17 14:17