SingularityNET Teams Up with Cardano’s Minswap for AI-Driven DeFi

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SingularityNet, which specializes in AI on the decentralized platform, announced a collaboration with Minswap Labs, a Cardano-based DEX team, on April 17. The goal is to revolutionize decentralized finance (DeFi) on the Cardano blockchain by merging DeFi technology and artificial intelligence (AI).

A fresh collaboration between Minswap Labs and SingularityNet marks the beginning of an innovative era, bringing enhanced capabilities and optimized performance to AI and DeFi in the Web3 community.

Bringing AI to Cardano’s DeFi Ecosystem

According to the announcement, the new collaboration between Minswap and SingularityNET is complex and covers several essential aspects. One of the primary objectives is for SingularityNET’s AI capabilities to reinforce Minswap. Consequently, Minswap intends to employ SingularityNET’s AI technology suite to refine user experiences, streamline transactions, and fine-tune liquidity provision through intelligent evaluation and forecasting.

Moreover, this new alliance between SingularityNET and Minswap will enhance the reach and functionality of SingularityNET’s token, AGIX. By integrating with Minswap, AGIX holders will discover fresh opportunities to participate in Decentralized Finance (DeFi) initiatives within the Cardano network.

Additionally, the two companies plan to collaborate on generating innovative offerings for the Web3 platform by merging AI and DeFi capabilities. They are also excited about creating new products and solutions for the entire Web3 community, focusing on effective methods to merge AI and DeFI technologies that will bring mutual gains.

Ben Goertzel, the CEO of SingularityNET, expressed his enthusiasm over the recent collaboration and noted that Artificial Intelligence (AI) could bring about numerous transformations to the Minswap platform.

Modern AI technology can significantly improve the functionality of a premier decentralized exchange like MinSwap. It offers features such as intelligent user interfaces that make it easier for users to maximize MinSwap’s capabilities. Additionally, AI can be integrated into transaction agents, enabling predictive and causal analysis to facilitate more efficient transactions and aid in liquidity provision.

Collaboratively, the two businesses are set to develop liquidity pools (LPs), interconnections, and potentially incorporate SingularityNET’s token bridge feature into Minswap. This synergy could facilitate smoother interactions between AGIX and ADA, enhancing their functionalities on both platforms and within the broader Cardano ecosystem.

ADA and AGIX Ready for the Price Rally?

The recent news about the new collaboration between Cardano (ADA) and AgroIntegrity (AGIX) has caused both cryptocurrencies’ prices to change. Specifically, ADA dropped by approximately 3.3% in the past 24 hours, whereas AGIX experienced a decrease of around 2%. As of now, you can find ADA being traded at $0.4443 and AGIX at $0.8054 on CoinmarketCap.

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2024-04-17 18:36