The new partnership’s announcement affected the costs of both ADA and AGIX.
The artificial intelligence (AI) decentralized platform SingularityNet has joined forces with the Cardano-based multi-pool DEX Minswap Labs. On April 17, SingularityNet announced that the two businesses would be collaborating to revolutionize Cardano blockchain decentralized finance (DeFi) via the integration of AI and DeFi technologies.
Minswap Labs and SingularityNet’s new collaboration announces a golden age of innovation that will improve the Web3 ecosystem’s AI and DeFi capabilities and efficiency.
The new alliance will concentrate on several important areas and have numerous aspects, according to the release. Improving the Minswap platform with the use of SingularityNET’s artificial intelligence knowledge is a primary objective. Therefore, Minswap will optimize liquidity supply via smart analysis and prediction, enhance user interfaces, and use SingularityNET’s AI tech stack.
The new partnership will also integrate SingularityNET’s native token, AGIX, with Minswap, making it more accessible and useful. Consequently, AGIX holders may find additional opportunities to participate in DeFi activities inside the Cardano ecosystem as a consequence of the new relationship.
In addition, by investigating potential new avenues of mutually beneficial AI and DeFi integration, the two firms want to develop new products and services for the Web3 ecosystem. Looking for innovative methods to combine AI and DeFi technology, both companies are also eager to build new products and solutions for the Web3 ecosystem overall.
According to SingularityNET CEO Ben Goertzel, who expressed enthusiasm for the new collaboration, artificial intelligence has the potential to revolutionize the Minswap platform. He stated:
“The utilisation of contemporary AI has the potential to elevate the existing offerings of a first-rate DEX such as MinSwap. This includes utilising AI for predictive and causal analysis within the exchange’s agents that execute transactions and aid in liquidity provision, as well as for intelligent interactive user interfaces that enable end-users to make better use of MinSwap’s capabilities.”
Liquidity pools (LPs), different linkages, and the potential integration of SingularityNET’s token bridge capability into the Minswap platform are all areas of focus for the two organizations cooperating. Because of this, AGIX and ADA may find it simpler to collaborate, which would benefit both platforms and the Cardano community as a whole.
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