Deep Funding is an initiative from SingularityNET to seed the decentralized AI platform with new and exciting AI services.
Deep Funding was initiated in our ‘Phase 2 proposal’ (more info below) and made possible by our loyal community. We are very grateful to our community for the opportunity to grow the platform and accelerate our journey to benevolent AI. Therefore we will drive this initiative forward with the ultimate goal of organizing it as an autonomous, future-proof, community-governed DAO.
SingularityNET’s mission, strategy, and values
Our Mission: The creation of a democratic, decentralized, beneficial AGI.
Our company values: Openness, Creativity, Collaboration, and Kindness.
These values reflect how we operate and intend to achieve our mission.
Our strategy to execute our mission is:
- Step 1: Seed the platform with AI services that are supportive of
- Step 2: Enable communication between AI services through our APIs and AI-DSL
- Step 3: Launch OpenCog Hyperon as a core service that can be connected to other services
Deep Funding executes this strategy by supporting AI developers to seed the AI platform with their services. At a later stage, these services can be dynamically connected to each other and to OpenCog Hyperon by means of AI-DSL(AI-Domain Specific Language). This way complex structures are able to emerge, ultimately leading to decentralized Artificial General Intelligence.
This relates to the main conditions that each proposal has to comply with:
- The project should directly or indirectly support the growth of our AI platform.
- The project needs to align with the mission of SingularityNET of creating a decentralized benevolent and inclusive Artificial General Intelligence - for the good of all humanity.
Phase 2 proposal
In February 2021, our community voted with an overwhelming majority to accept our ‘Phase 2 proposal’. This proposal provides for the minting of 1 Billion new tokens in monthly batches of slowly decreasing amounts. The minting algorithm is configured in such a way that the last token will be minted 91 years (!) after the first batch.
30% of the monthly minted tokens are allocated to Deep funding. The Phase 2 proposal states:
“30% or 300 million AGI-ADA from this overall pool, will be allocated to an ecosystem fund called Decentralized Ecosystem Project Funding (Deep Funding) to be distributed to AI developers under a liquid-democracy framework implemented on Cardano Catalyst platform;
25% of the tokens provided to any project by Deep Funding are locked in a Deep Utilization contract that specifies they can only be used to purchase AI services from SingularityNET agents. If these tokens are not unlocked within one year of issuance, they will automatically return to the Deep Funding Wallet.”
We are operating in the spirit of this document by allocating the full 30% of the tokens, but with some additions:
- We grant AI publishers the option to use the reserved 25% of tokens for hosting cots, at least until connecting to other services by AI-DSL is a realistic possibility.
- We have decided to start with our funding platform instead of Cardano Catalyst. While this may bring some limitations at the start, it also enables us to have more meaningful conversations with our community on the processes and tooling of the platform and roll out functionalities that we think are beneficial to our goals. We will keep a warm relationship with the people from Catalyst and believe that this approach will be beneficial for all due to the broader area of learning and experimentation. We will continue to exchange insights, learnings, and perhaps even functionality and will stay open-minded about the best course of action to follow in the future.
For more information on phase 2 read:
SingularityNET Phase 2 Proposal (including the link to the paper itself)