SingularityDAO announced the launch of Dynaset, its artificial intelligence-based investment tool, via Twitter, on Monday, October 11, 2022, featuring a new user interface (UI) and branding, adding that the contribution window is to allow more people to join.
https://twitter.com/SingularityDAO/status/1579804080457019395?s=20&t=YwNlq_lMkUrCZmOQ_KPzvA
DynaSets are a dynamically managed set of crypto assets traded under the strict oversight of SingularityDAO’s trading and AI teams to generate maximum profit for users.
The investment tool consists of different strategies, including long only, short only, long/short, neutral, and variations where its trading team (Dynamic Asset Manager – DAM) of Humans automatically switches cryptocurrency assets between these strategies based on market conditions.
Its DAM monitors the price movements of crypto assets, and when set signals and criteria are met, they place buy orders for these assets with set take profit points.
To make this possible, it uses a complex layer of smart contracts that analyze multiple decentralized exchanges (DEXes) and liquidity pools, taking into account things like gas fees and slippage, among others, and executing a trade when all criteria are met.
Before yesterday’s launch, users were given a window of time to submit their funds – cryptocurrency assets to the Forge for trading using the Dynasets. Following the launch, the window was closed, and all tokens submitted were forged together and are being traded.
However, the contribution window was opened to allow more people to join, i.e., trade their crypto assets using DynaSet; during this time, users can stake their tokens within the platform Forge, and these assets will be traded using the tool when the next entry point is reached.
According to SingularityDAO, performance and management fees are deducted from staked assets at the end of the contribution phase.
SingularityDAO’s DynaSet is expected to allow users to earn more profits from their assets even in a bearish market, as its closed beta consistently outperformed their underlying assets by over 15%. Speaking on the development Chris Poulin, Chief Technology Officer of SingularityDAO, said:
We knew AI would be a key part of the future of crypto investing – there is so much global and real-time data to absorb and monitor in order to trade crypto effectively that the odds have always been stacked against human traders. It’s exciting to see our hypothesis has proved true – since the launch in December, DynaSets have consistently outperformed the wider crypto markets.
