Key highlights:
- Top decentralized oracle solution Chainlink is partnering with SingularityDAO, an AI-powered crypto portfolio manager.
- Together, the two parties plan to help emerging projects thrive through funding, mentorship and marketing support.
- While Chainlink opens doors for innovative new dApps, SingularityDAO takes things to another level. Their robo-advisor uses advanced AI to maximize returns across all markets.
In recent blockchain news, two industry heavyweights are joining forces to push the boundaries of decentralized finance further. Chainlink, the market-leading decentralized oracle network, has partnered with SingularityDAO, an AI-powered crypto portfolio management protocol, to support emerging projects in Chainlink’s BUILD incubation program.
What SingularityDAO brings to the table
SingularityDAO aims to revolutionize crypto investing using cutting-edge artificial intelligence. Rather than relying solely on the judgment of humans, SingularityDAO employs advanced algorithms to analyze market data and dynamically manage portfolios of crypto assets. This “robo-advisor” approach seeks to maximize returns across all market conditions.
SingularityDAO also runs one of the most robust incubation programs in the space. Through funding, mentorship, networking opportunities, and other resources, SingularityDAO helps guide promising early-stage projects from concept to launch. They’ve developed a strong track record of nurturing innovation over their five years of operation.
Supporting the next generation of Chainlink dApps
Chainlink’s BUILD program offers funding and mentorship to kickstart the development of novel decentralized applications. However, even with Chainlink’s backing, fledgling projects need extensive support to achieve their full potential.
This is where SingularityDAO steps in. As part of the partnership, SingularityDAO will leverage its incubation expertise to empower BUILD participants. Projects accepted into their launchpad will gain exposure to eager investors. Mentorship from seasoned builders will help young teams avoid common pitfalls. And marketing support could help promising concepts catch fire in the community.
Chainlink increases the reach and reliability of smart contracts, while SingularityDAO cultivates the innovators expanding their horizons. They aim to supercharge a new generation of advanced blockchain applications by combining their strengths.
The synergy between Chainlink and SingularityDAO could push the envelope for decentralized finance as a whole. As more complex DApps are built on Chainlink and nurtured by SingularityDAO, traditional barriers to blockchain adoption should fade.
A look at the technicals paints an equally bullish picture. According to analytics from CoinCodex, LINK is currently up over 3% in the last 24 hours and bullish indicators outnumber bearish ones. The 50-day and 200-day simple moving averages (SMA) are trending up, a sign LINK may have more room to run.
What’s more, price predictions estimate Chainlink could reach as high as $86.74 by the end of 2024 if current trends persist, which would be an increase of over 500% compared to current levels.
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