Today I found this on twitter:
IOHK tweeted: „Multiple #DeFi & #DApp projects have begun testing & will soon deploy on #Cardano. It is as exciting as it is hard to follow.“
SDAO retweeted: „Yes, we u/SingularityDao $SDAO, along with u/nunet_global $NTX and u/singularity_net $AGIX are involved!“
**Will we see SNET-Ecosystem evolve on Cardano soon?**
As SNET is one of the closest partners for Cardano I want to spread awareness about the SNET-Ecosystem as a whole. I’ll provide links to blog posts on medium that go into detail about the spin offs. I ask all members of the SNET ecosystem to comment how the different spin offs can enhance the capabilities of Cardano as I think this is an important aspect for the Cardano Community. I’m mostly following SingularityDAO so I’ll give you an overview of what SDAO does and how it will revolutionize DeFi with Dynasets.
Here is an overview of all the spin offs of the SingularityNET-Ecosystem (some not spun off yet):
* SingularityDAO: [https://blog.singularitynet.io/singularitydao-singularitynet-ecosystem-roadmap-end-of-year-review-series-4458165f35af](https://blog.singularitynet.io/singularitydao-singularitynet-ecosystem-roadmap-end-of-year-review-series-4458165f35af)
* NuNet: [https://blog.singularitynet.io/nunet-singularitynet-ecosystem-roadmap-end-of-year-review-series-3-fd3829d72566](https://blog.singularitynet.io/nunet-singularitynet-ecosystem-roadmap-end-of-year-review-series-3-fd3829d72566)
* Rejuve: [https://blog.singularitynet.io/rejuve-singularitynet-ecosystem-roadmap-end-of-year-review-series-2-b3afd148ee2a](https://blog.singularitynet.io/rejuve-singularitynet-ecosystem-roadmap-end-of-year-review-series-2-b3afd148ee2a)
* SophiaDAO/SophiaVerse: [https://blog.singularitynet.io/sophiadao-roadmap-phase-2-mid-2021-progress-report-part-7-1b98e0fb0dcf](https://blog.singularitynet.io/sophiadao-roadmap-phase-2-mid-2021-progress-report-part-7-1b98e0fb0dcf)
* TrueAGI: [https://blog.singularitynet.io/trueagi-singularitynet-ecosystem-roadmap-end-of-year-review-series-6-8d77e23a6ad3](https://blog.singularitynet.io/trueagi-singularitynet-ecosystem-roadmap-end-of-year-review-series-6-8d77e23a6ad3)
* Mindplex: [https://blog.singularitynet.io/mindplex-singularitynet-ecosystem-roadmap-end-of-year-review-series-5-8b1c47321198](https://blog.singularitynet.io/mindplex-singularitynet-ecosystem-roadmap-end-of-year-review-series-5-8b1c47321198)
* Jam Galaxy: [https://blog.singularitynet.io/jam-galaxy-a-first-peak-ca37010638af](https://blog.singularitynet.io/jam-galaxy-a-first-peak-ca37010638af)
* Awakening Health: [https://blog.singularitynet.io/awakening-health-singularitynet-ecosystem-roadmap-end-of-year-review-series-7-7019db83d70](https://blog.singularitynet.io/awakening-health-singularitynet-ecosystem-roadmap-end-of-year-review-series-7-7019db83d70)
* Singularity Studio: [https://blog.singularitynet.io/singularity-studio-roadmap-phase-2-mid-2021-progress-report-part-8-ee6a3b4628cf](https://blog.singularitynet.io/singularity-studio-roadmap-phase-2-mid-2021-progress-report-part-8-ee6a3b4628cf)
Here you can find a roadmap progression update form the spin offs (August/September 2021), beginning with part one:
Let’s speak about SDAO: it is an AI-driven crypto hedgefund – cutting edge AI (in-house and also fromSNET) + professional hedge fund traders dynamically manage your portfolio; going for cryptos when the market pumps, going for stables when the market dumps.
It has all the basic functions of a DeFi app: Swapping, Staking and Yield Farming.
Important features for Cardano:
– Dynasets => baskets of tokens that get dynamically managed by AI and professional hedge fund traders. It’s a new tool invented for the crypto masses, giving access to PRO trading to everyone. The cool thing: Users don’t need to trade on their own, they just HODL Dynaset-Shares (which can be staked to farm SDAO btw). This is HODL2.0 and I think every blockchain will love to have this dAPP. SDAO is already on ETH and BSC. There needs to be quite some liquidity for Dynasets to trade efficiently but I think once DeFi on Cardano really starts, liquidity won’t be a problem anymore. Cardano could be the leading platform for using Dynasets (reliable blockchain, cheap, will have huge liquidity, etc.)
– SDAO also has a launchpad function and could become an important tool for new Cardano project. The first and only project that has launched till now is NuNet (sold out in 90seconds). The next ones are already in line, all from the SNET-Ecosystem: Rejuve, SophiaVerse, etc. As it’s only a feature of the platform and not the main focus, SDAO can select only the very best projects to launch – giving SDAO-Holders access to launches of only high quality projects.
Apart from that I could tell you many more things about SDAO but I think these two points are the most important ones for DeFi on Cardano.
BTW, tokenized spin offs like Nunet and Rejuve will airdrop 5% of the supply to AGIX-Holders. Maybe we will see SNET airdrops on Cardano soon 😉