Swae Chosen as SingularityNET’s DAO Grant Funding Platform –Helping Distribute $1M in Grants for Newly-Launched Deep Funding Program
Swae’s platform will also support SingularityNET’s plans for progressive decentralization and community-driven governance for their DAO
March 29, 2022 | For Immediate Release
Swae, a Vancouver-based technology startup operating a bottom-up idea management and decision-making platform, has been chosen by SingularityNET’s executive team to support their Deep Funding grant allocation program, which offers their token holders from around the globe a chance to apply for up to $1M in grant funding for winning AI projects.
The Deep Funding program intends to distribute up to $1M USD equivalent value in AGIX tokens (valued at 0.11 USD per token) in the first funding round between March and May 2022. These rounds are expected to grow in size and scale after this initial implementation.
About SingularityNET’s DeepFunding.AI Grant Program
The Deep Funding program is an initiative from SingularityNET to seed the decentralized AI platform. In this program, they will offer a total of $1 Million in grants in round one. The project is searching for AI and app developers working on innovative AI products that will help grow the AI platform, to send in their proposal. The chosen project winners that will receive funding will keep ownership of their AI model, and be able to monetize their intellectual property and contribute to building a global ecosystem of decentralized AI (see DeepFunding.ai).
The Community’s Role in the Deep Funding Program
Deep Funding is intended to be a genuinely bottom-up and community-driven program where community involvement is essential for reviewing proposed grants and projects to ensure the best make it to the top.
Community members are invited to submit new grant proposals, read and review other proposals that come in, and help improve them through collaborative edits to help make the proposals cleaner and without errors. Collaboration will include the ability to point out strengths, risks, ask questions, as well as rate them against other idea proposals.
The collection of constructive and collaborative changes will signal to the wider community which proposals are gaining the most traction and are best positioned to be considered for an official vote and potential grant win.
Through the process of collective intelligence and constructive criticism from the community, the best proposals and projects will be prioritized and supported to implementation, and SingularityNET will begin practicing how best to implement community-driven governance for its DAO.
How Swae’s Powers the Deep Funding Program
Using Swae, SingularityNET will invite proposing teams and community members the following top goals:
- The program will gather a constant supply of high quality AI project proposals that are a good fit for the Deep Funding Program
- Create continuous and constructive community involvement
- Prepare for scalability to support a longer term program potential
AI project teams from around the world will use Swae to introduce themselves and promote their project proposals into the greater community and receive valuable feedback.
The projects that are chosen as grant winners will receive funding through grants to develop their AI project using AGIX tokens from SingularityNET’s DAO platform called SingularityDAO.
Once the winning projects have been funded, the winning teams will launch their AI service on the decentralized AI-platform to start monetizing their service. There are two levels of grants that will be offered in round one:
1) $500.000 USD of AGIX will be distributed for smaller proposals with a maximum of 40.000 USD worth of AGIX per proposal
2) $500.000 USD In AGIX distributed to larger proposals with a maximum of 150.000 USD worth of AGIX per proposal.
See https://deepfunding.ai/ for more details.
Why Swae was Chosen to Support the Deep Funding Program
Swae was chosen by the SingularityNET team as they found Swae to have all their desired features and function sets. They’re seeking to build a genuinely community-driven program, and Swae is much more than a crowdsourcing and voting platform, it’s a robust community-driven and consensus-building platform that enables decision-making that’s driven by collective intelligence. Swae was chosen for many reasons, including:
- Rich formatting options when creating proposals
- The affinity with AI-supported tooling such as the NLP writing tools they already have built-in
- The ability to contribute Proposals, Comments or Suggestions anonymously- allowing the difficult things to be said.
- The way that interactions are fully accountable and transparently tracked is a solid starting point for community-based interaction.
- The willingness of Swae’s team to collaborate in developing the platform gives the SingularityNET foundation and community an opportunity to enhance their roadmap, or even co-create with them, on the development of elaborate new features.
Pictured above shows Swae’s AI capabilities and reviewing process, whereby users benefit from various NLP AI algorithms to improve the quality of their initial proposal or idea. Some of Swae’s algorithms improve basic grammar, tone, sentiment and emotion, and more advanced algorithms under production will help detect bias in language and suggest evidence to further strengthen their ideas.
“Deep Funding is a very important initiative for SingularityNET and the growth of our AI platform. But it is more than that. I see Deep funding as a catalyst and experimentation ground for community governance. We want Deep funding to become a true community driven initiative eventually evolving into a full DAO. Therefore I am extremely happy with the feature set and capabilities of Swae. We count ourselves lucky to have found such a great partner that feels like an extension of our own team. With our joint collaborative and innovative approach and the constructive feedback of our community, I am confident we will be able to develop Swae even further into the best tool for governance processes of Decentralized Autonomous Organizations.” — Jan Horlings, VP of Products SingularityNET.io
About SingularityNET
SingularityNET is one of the most ambitious web3, blockchain, and AI projects ever conceived in the world. Lead by Dr. Ben Goertzel, former Director of Research of the Machine Intelligence Research Institute, former scientist and chairman of AI software company Novamente LLC; chairman of the OpenCog Foundation; and former Chief Scientist of Hanson Robotics, the company that created Sophia the Robot, SingularityNET intends to combine artificial intelligence and blockchain to democratize access to artificial intelligence. SingularityNET features a decentralized AI platform that enables developers to monetize their AI services on a global market without sacrificing ownership.
The next cornerstone of the AI platform is ‘AI-DSL’, a protocol that allows individual AI services to dynamically find and communicate with each other, forming ad-hoc collaborations that are capable of much more complex tasks than any individual service would be.
This way, the project aims to remove one of the major limiting factors to AI growth today — the lack of interoperability — which severely restricts the ability to leverage the strengths and capabilities of individual AIs. The Sophia robot, the world’s most expressive robot, is one of our first use cases of this vision.
SingularityNET’s vision is to combine AI and blockchain to create a decentralized marketplace for different types of AI. This ecosystem is powered by the AGIX token that enables companies, organizations, and developers to buy and sell AI, but will also facilitate large numbers of autonomous transactions between all individual ai services. This capability will be further enhanced by HyperCycle, a novel Cardano Sidechain protocol, specialized in decentralized AI and capable of supporting the massive number of transactions needed for the future AI economy. . SingularityNET’s “AI-as-a-service” aims to become the key open-source protocol for networking AI on the internet. A long term goal is to form a coordinated Artificial General Intelligence within the market network. It is an ambitious mission but the whole AI field is in its infancy (see SingularityNET.io).
In December 2017, @SingularityNET carried out an Initial Coin Offering (ICO) to raise funds for its ambitious vision and project. It is reported that their ICO was fully subscribed and raised $36 million USD in just 60 seconds! The Singularity team reported that the crowdfunding was capped after receiving $361 million in investor interest on its white list from more than 20,000 erstwhile investors.
For more info about SingularityNET, watch Dr. Ben Goertzel presenting SU Net at the World BlockChain Forum
About Swae
Swae is an idea management and decision-making platform that reveals solutions to problems directly from employees or stakeholder groups.
Founded in 2018, in Vancouver Canada, Swae’s platform disrupts the traditional hierarchy found within large organizations and provides a transparent and inclusive hub for ideation and collaboration. The combination of collective intelligence, AI and anonymity provide the foundation for users to provide critical feedback, improve ideas and vote on which ones move forward.
Organizations around the world use Swae to bring all voices to the table so they can uncover and benefit from the untapped collective intelligence from within.
For more information, visit www.swae.io or contact Swae’s Media Relations Team here.
