Introducing the SingularityDAO Governance Token Generation Event

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SingularityDAO Ai-DeFi

7 min readApr 28, 2021

The SingularityDAO Governance Token Generation Event will aim to raise $1.6 million USD (8,000,000 SDAO) from current AGI token holders who successfully complete KYC registration and whitelisting between April 28th and May 5th. There will be four participation tiers based on AGI token holdings.

May 6th 11:00 AM UTC: DELAY ANNOUNCEMENT!
In order to accommodate those needing to swap ETH to WETH, the Governance Generation Event has been moved by 2 hours to 1:00 PM UTC.

In August 2017 three founders came together to create a decentralized, user-governed marketplace that uses blockchain to connect diverse AIs together to create AI teams with broad capabilities. In December 2017 an expanded group of people made blockchain history realizing one of the fastest token launches of all time, raising $36 million in 66 seconds, successfully funding the SingularityNET ecosystem that we all know.

In August 2020 key members of the same team came together to conceptualize SingularityDAO, a democratically governed platform that will bring together AI and DeFi, giving birth to the first AI-DeFi project. Thanks to the community vote on the SingularityNET Phase 2 proposal, we’ve been enabled to accelerate the developments of SingularityDAO, capturing interest from strong ecosystem partners.

SingularityDAO will leverage sophisticated AI combined with DeFi tools to magnify users’ exposure to the crypto economy while optimizing navigation of complex markets.

Building a visionary project like SingularityDAO requires the support of strong partners. SingularityDAO is backed by some of the world’s leading venture capital and investment firms such as AlphaBit, Genesis Block Ventures, SMO Capital, QCP Capital, AU21, Marshland Capital, Jun Capital, Magnus Capital, Moonwhale Ventures, and Phoenix VC.

We are extremely grateful to these institutions for their support on this journey. They have provided us with ideas, resources, connections and capital, and will continue to do so in the future, extending their contribution to our community.

SingularityDAO is first and foremost a DAO (Decentralized Autonomous Organization), and as such we are devoted to democratizing and maximizing access to opportunities and decision making.

That’s why today we are announcing that we are inviting AGI token holders to join the SingularityDAO ecosystem at a very early stage.

Just a few days ago, we announced the airdrop of 5% of the whole DAO to our loyal AGI community supporters, being one of the largest community giveaways in crypto. It is now time to expand the family and give more people the opportunity to join our DAO and take part in the decentralized decision-making process.

We are excited to announce our first Governance Token Generation event. AGI token holders will have the opportunity to purchase the new SDAO tokens from May 6th 11 AM UTC+0 until May 9th 11 AM UTC+0 through the MANTRA DAO launchpad, ZENDIT.

SDAO Token Overview

Ticker: SDAO
Total circulating supply: 100,000,000
Early Supporters round: 15,000,000
SDAO Tokens offered at Generation Event: 8,000,000
Circulating supply after Generation Event: 9,137,500
Valuation at Governance Generation Event price: $1,827,500
Private placement price: $0.20 (20 cents)
AGI holders price: $0.20 (20 cents)
Fully diluted valuation: $20,000,000

KYC REQUIREMENT

Joining the Governance Generation Event requires passing the KYC process at the following link: SingularityDAO Whitelist Portal. The process will be open until May 5th 11:59 PM UTC+0.

We are expecting a very high demand for the SDAO token, therefore we strongly encourage users to start the KYC process as soon as possible as it might take time to process and verify all IDs. You will find a step-by-step guide on how to do KYC at the end of this blog post.

Passing the KYC process does NOT guarantee participation, the next step is to join the MANTRA DAO ZENDIT pool. MANTRA DAO will allow whitelisted users to access their liquidity pools on a first-come-first-served basis, therefore we HIGHLY RECOMMEND accessing the pre-approval waiting list service on MANTRA DAO a couple of hours before the event starts. Stay tuned to our SingularityDAO telegram channel if you want to be one of the first to know when it opens in advance.

To get familiar with MANTRA DAO ZENDIT, please see this step-by-step guide.

Please note that in order to participate in the Governance Generation Event, you won’t need to purchase OM (Mantra DAO) tokens.

AGI TOKEN HOLDING REQUIREMENT

All participants will be required to hold AGI tokens in their private wallets until May 5th 11:59 PM UTC+0. Private wallets with AGI tokens, or wallets with AGI tokens staked through staking.singularitynet.io during this period are eligible.

There will be four tiers of participation based on AGI token holdings:

Holders of 1,000 to 2,499 AGI tokens will be able to purchase a maximum of 3,750 SDAO tokens
Holders of 2,500 to 9,999 AGI tokens will be able to purchase a maximum of 6,250 SDAO tokens
Holders of 10,000 to 24,999 AGI tokens will be able to purchase a maximum of 12,500 SDAO tokens
Holders of 25,000 AGI tokens or more will be able to purchase a maximum of 25,000 SDAO tokens

All tokens purchased during the Governance Token Generation Event will be subject to a 12 month linear vesting schedule with 20% of the token released at token generation and 7.27% in 11 subsequent monthly releases. This means participants will unlock 20% right away and receive 7.27% of their tokens each month automatically credited to their wallets.

Interested users will be able to purchase the SDAO token using the following currencies:

USDT
AGI
ETH
WBTC
OM

RESIDENCY REQUIREMENT

People that are residing, or located or citizens of the following countries, will be unable to participate in the Governance Token Generation Event: U.S, Canada, mainland China, United Kingdom, Afghanistan, Albania, Belarus, Bosnia, Herzegovina, Burundi, Central African Republic, Côte d’Ivoire, Cuba, Democratic Republic of the Congo, Ethiopia, Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Liberia, Libya, Myanmar (Burma), North Korea, New Zealand, Republic of Macedonia (Fyrom), Serbia, Somalia, South Korea, South Sudan, Sri Lanka, Sudan, Syria, Thailand, Trinidad & Tobago, Tunisia, Uganda, Ukraine, Venezuela, Yemen, Zimbabwe and all internationally blacklisted and sanctioned nations.

DATES AND EVENTS OVERVIEW:

*The Public Governance Generation Events on poolz.finance and launchpool.xyz are subject to their own requirements and process. Details of these will be announced next week.

We thank our community of AGI token holders who have remained with us through thick and thin, and we are excited to embark on this journey with you, our supporters, as we revolutionize decentralized finance with the power of artificial intelligence. To learn more about SingularityDAO, visit SingularityDAO.AI and follow us on Twitter, Facebook, and Telegram!

WARNING ABOUT SCAMMERS

There are many scammers targeting SingularityNET AGI holders across all social media platforms, and they’re impersonating the project and individual team members! Learn what red flags you should look out for, and which official sources to trust in this safety guide. SingularityDAO and SingularityNET staff and admins will NEVER reach out to you via DMs. All official updates will be communicated through this blog post by updating this post, so please bookmark it.

KYC Instructions

Participation in the Governance Token Generation event will require KYC registration through the SingularityDAO Whitelist Portal on Synaps. You can register to be whitelisted and participate in the Governance Generation Event by following the steps outlined below.
After completion of the verification process, you will receive a confirmation in your email. If for some reason the verification process failed, you will receive an email explaining what went wrong.

Step 1: Create Account Here

Step 2: Enter Authentication Number Sent To Email

Step 3: Start KYC Verification Process

Step 4: Complete Liveness Verification With Camera

Center your face and remove accessories (i.e. hats, glasses, etc). If you do not have a camera on your device, you may use another device by generating a URL which can be opened separately, such as on a mobile phone, in order to proceed.