⚡AI Tokens Unite to Form Artificial Superintelligence Alliance
Plus Solana sees 4th highest DEX volume, a Bitlayer airdrop farm, and more
📈Trends and Narratives
AI Tokens Unite to Form Artificial Superintelligence Alliance
Back in March, Fetch.ai, SingularityNET and Ocean Protocol announced an agreement to merge their projects, resources and respective utility tokens into a collective called the Artificial Superintelligence Alliance (that’s the real name).
The Superintelligence Alliance will be led by Ben Goertzel as the CEO (CEO at SingularityNET) and Humayun Sheikh (current CEO at Fetch.ai) as the Chairman, while Bruce Pon and Trent McConaghy will represent Ocean Protocol.
This partnership creates the largest open-source, decentralized player in AI R&D. The vision is to create a powerful & compelling alternative to Big Tech’s AI development. The decentralized nature of the three projects working together means AI infrastructure should be more ethical and trustworthy.
On July 1st, the first phase of this merger was completed and both OCEAN and AGIX merged into Fetch.ai’s token FET. Eventually, the FET token will rebrand to Artificial Superintelligence (ASI).
To complete this merger, the Fetch and SingularityNET communities voted to approve the proposal with their FET and AGIX tokens in a governance proposal, a positive example of community support.
The next step, Phase II, involves the merged FET token upgrading to the ASI network and the ASI token. That’s currently planned for July 15th. Once the ASI token goes live, FET, AGIX and OCEAN will cease to trade independently.
Each project still runs independently, but the combination of these three tokens into one means that the ASI token will benefit from any of them succeeding and the three projects’ financial futures will be linked. Now that each project has more access to each other’s data and more resources, this could lead to an environment of accelerated growth, attention and innovation.
How to Capitalize
If you’re a holder of any of these tokens, there’s no immediate rush to convert your assets (if you’re holding them on an exchange, you don’t need to do anything), but you can learn more about the merger here, and specific questions can be answered via FAQ here.
Here’s a calculator to see how much ASI you get for any OCEAN, AGIX or FET holdings.
ASI is likely to be a powerhouse in the world of decentralized AI, with several of the largest players in the space contributing to it.
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🔢On-Chain Analysis
Solana Sees 4th Highest Week of DEX Volume
DEX volume on Solana saw it’s 4th highest week since the start of 2024, approaching $12B in 7 days. The last time Solana DEX activity was this high was the meme craze in March.
Raydium handles the lion’s share of DEX volume and processed an 80% uptick in volume this week. Raydium also crossed $50B in all-time volume, and has earned $200M in fees over the past year.
🚜Farm of the Week
Avalon Finance - Airdrop Points
Avalon is an Aave fork built on several networks. This farm is specifically on Bitlayer, a Bitcoin L2.
How it Works
On Bitlayer’s network, you can lend & borrow BTC:
While the yields aren’t anything to write home about, supplying & borrowing BTC earn Avalon Points for a potential airdrop. Supplying BTC earns 2x Points and borrowing earns 6x Points. These are the largest point multipliers on the app at the moment.
We don’t know exactly how large the airdrop will be, but looking at the current tokenomics, there’s still ~20% to allocate to a potential airdrop:
Risks
Liquidation risk:
Don’t get liquidated by borrowing too much BTC against your supplied BTC. Liquidation would mean losing your hard earned sats. You want to keep any loans at a healthy level.
Why I’m All-In on DeFi:
🛠️Tool Spotlight
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Using DeepDAO you can break down DAO treasury holdings, governance voting participation rates, view tokens held by the most DAOs, and keep up to date on activity across thousands of DAO’s with DeepDAO’s DAO Feed:
📅Key Events This Week
Macro Events
📊Fed chair Powell testifies - July 9th-10th
📊US CPI - July 11th
📊 Federal budget balance - July 11th
📊US PPI - July 12th
Token Unlocks
🔓GMT (4.72%) - July 8th
🔓XAI (71.59%) - July 9th
🔓DYDX (0.68%) - July 9th
🔓ENS (2.9%) - July 9th
🔓FLR (4.16%) - July 9th
🔓WOO (1.1%) - July 10th
🔓IO (2.22%) - July 11th
🔓IMX (2.15%) - July 12th
🔓APT (2.49%) - July 12th
🔓UXP (1.89%) - July 14th
🔓CYBER (3.81%) - July 14th
Launches & Updates
Note that these launches are mostly unvetted by the Dynamo DeFi team and this isn’t an endorsement of any of them.
🚀 XDBees Game Pioneer Launch - July 8th (Source)
🚀 Vela V2.0 token unlock - July 8th (Source)
🚀 Miracle pay game launch - July 11th (Source)
🚀 Portal Infrastructure launch - July 11th (Source)
🚀 ImmuntableX Ember sword closed beta - July 12th (Source)
⚡Favorite Resources
If you want to dive deeper, here are some of my favorite resources:
🛠️ The Dynamo DeFi Crypto Tools List: A comprehensive list of 100+ crypto tools to help with portfolio tracking, analytics, airdrops and more.
🚀 RocketX: The 1-stop-shop to get the best rates for on-chain & cross-chain swaps.
🛡️ Ledger: The smartest way to secure your crypto. Buy & sell crypto with full control over your assets.
🔓 TokenUnlocks: Track token unlocks and make better investment decisions. Use my code DDNM5 for 5% off Pro Plans.
For more frequent content, follow me on Twitter and YouTube.
Until next time,
Dynamo DeFi