What is SingularityNET (AGIX)?

What is SingularityNET?

SingularityNET is a decentralized AI protocol that allows anyone to list, access, and combine AI services, whether they are independent AI model developers or application developers in need of AI functionality, they can establish connections through SingularityNET to form a truly open AI ecosystem. It is not just a platform, but also a decentralized autonomous organization (DAO) for AI, combining AI technology with economic incentives, breaking the closed ecosystem of traditional Web2 giants.

The soul of this entire ecosystem is built by a team led by renowned AGI (Artificial General Intelligence) researcher Dr. Ben Goertzel, with a grand vision behind it: to create an open pathway to the technological singularity.

What problems does SingularityNET solve?

1. The monopoly problem of centralized AI
   In the Web2 world, AI resources are mainly controlled by giants like Google, OpenAI, Amazon, etc., and developers can hardly access core data or customize models.
2. AI modules are difficult to interoperate and reuse
   Each model operates independently, lacking modularization, integration, and sharing mechanisms, resulting in high development and maintenance costs.
3. Small AI developers lack commercial channels
   Independent developers with capabilities find it difficult to monetize their AI achievements, SingularityNET provides an open listing mechanism and incentive system.

The operation mechanism of SingularityNET

The AI services on SingularityNET can be seen as microservices, uploaded and registered on the platform by developers, and other developers or users can call and pay through smart contracts. The service settlement currency here is AGIX. For example, a developer needs speech recognition functionality, they can directly find the corresponding module on SingularityNET, pay AGIX, and get results instantly, even stringing together different AI modules to create their own AI solutions like LEGO.

What are the use cases of SingularityNET?

SingularityNET’s application layer is very extensive, covering:

• Biomedical research (such as drug discovery, genetic analysis)
• Financial Intelligent Analysis
• Natural Language Processing (NLP)
• Robots (such as the well-known AI robot Sophia created by the Goertzel team)
• DAO Autonomous Decision-making Proposal Engine
• AI-as-a-Service (AaaS)

There are already many available modules on the platform that can be accessed directly, making SingularityNET a truly user-driven AI protocol, not just a token, and supporting cross-chain operations, AI service reputation mechanism, DAO governance, and other functions, with complete Web3 features.

SingularityNET token economics

AGIX is the foundational token of the entire SingularityNET protocol, with a total supply of 2 billion tokens. Half of them, that is, 1 billion AGIX, were released to the market in the early stage, and the overall distribution is designed quite reasonably, taking into account the ecosystem, team, and future reserves.

• 50% of the tokens are released through ICO (Initial Coin Offering) and open to public participation, which also establishes the foundation of community-driven.
• 20% is allocated to the SingularityNET Foundation for long-term operations, research and ecosystem expansion.
• 18% is allocated to the core team and advisors, which is used to incentivize long-term committed members and provide technical support for advisors, with certain lock-up and release mechanisms in place to prevent short-term selling.
• 8% of AGIX is reserved for ecosystem incentives and partner programs to drive integration and promotion with other protocols.
• 4% is reserved as future reserve funds to deal with uncertainties or strategic opportunities in ecosystem development.

This allocation method helps to keep the value of AGIX closely tied to the platform’s growth, providing enough space for community participation, including governance, staking, payment, and reward functions to make AGIX truly usable.

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Summary

SingularityNET brings a redefinition of AI sovereignty, indicating that Web3 is not just a playground for finance, NFTs, and L2, but a system capable of carrying a higher order of knowledge productivity. Computer scientist Ben Goertzel put it well: ‘Decentralized artificial intelligence is the only way towards superhuman intelligence.’ And SingularityNET is a pioneer on this path.