Convert SingularityNET AGIX to SYNC Network SYNC

SingularityNET is a decentralized marketplace for Artificial Intelligence (AI). The business value of AI is becoming clearer each day; however, there’s a significant gap between the people developing AI tools (researchers and academics) and the businesses that want to use them. Most organizations need a more customized solution than what a single AI project can offer, and research projects oftentimes have trouble accessing a large enough data set to build effective machine learning. SingularityNET closes these gaps. The long-term vision of the SingulairtyNET team is to build a network of complex AI Agent interactions primarily using resources from the OpenCog Foundation. To look at this further, let’s check out their in-house built humanoid robot, Sophia. Sophia uses a combination of AI Agents that range from natural language processing to physical motor controls to operate. You tell Sophia to summarize a video that’s embedded in a webpage. To do this, Sophia sends a request to Agent A. Through its AI, Agent A knows that Agent B specializes in analyzing and transcribing video while Agent C specializes in summarizing text. Agent A pays Agent B and Agent C to perform these tasks while Sophia pays Agent A to coordinate. All the while, each Agent has updated their own AI with the network information gained from these tasks and combines it with their previous experiences and knowledge. Therefore, the collective AI of the system grows at a faster rate than any individual Agent. SingularityNET wants to build a decentralized protocol for creators and users of AI to interact with each other, to not only help individual projects benefit by leveraging the strengths of other AI systems that might handle certain tasks better, but ultimately to develop SingularityNET into a functioning AI system itself, with nodes on the network making their own decisions about how to connect services and proactively provide solutions to academic and business problems. Tokenizing the network creates an AI marketplace where AI developers and sellers can not only link with others who might assist in building more robust AI solutions, but also allow AI services and products to be bought and sold, creating revenue and establishing price points where none have existed before. The SingularityNET team boasts 50+ AI developers and 10+ PhDs. Dr. Ben Goertzel leads the group as CEO and Chief Scientist. He’s also the Chairman of the OpenCog Foundation and the Artificial General Intelligence Society, as well as the Chief Scientist at Hanson Robotics, the partner company helping bring SingularityNET to life. Dr. David Hanson, founder of Hanson Robotics, serves as the Robotics Lead. Most famously, Hanson Robotics built Sophia, the most expressive humanoid robot to date. Sophia is also a proud member of the SingularityNET team. The team recently released the alpha version of the platform and is planning on launching a public beta sometime in the middle of 2018.

Projects in the decentralized finance space started utilizing stake and proof-of-liquidity mechanics to develop a trustless economy but fundamental flaws have held these projects behind. The SYNC Network addresses these problems and offers a workable solution through tradeable stakes bonding Uniswap liquidity pairs with a fully trustless ERC-20 token (SYNC). SYNC enables users to earn interest by staking a cyptographic bond to Uniswap liquidity pair tokens (Crypto Bonds). Crypto Bonds are an NFT (ERC-721) token with collectible attributes, accruing interest rates, and the ability to separately trade and speculate on them within a secondary market. SYNC Network works to bring stability and risk mitigation to decentralized finance by solidifying a guarantee on holding liquidity pairs for an extended period of time. The Sync Network can help build a needed, stable foundation for the DeFi space and a fully functioning, more robust trustless economy. -- The SYNC Network is composed of two main contracts: the SYNC ERC-20 contract and the Crypto Bond ERC-721 contract. SYNC tokens have an undefined total supply with inflationary and deflationary attributes through the interactions with Crypto Bond investors. Despite being a long-term investment, Crypto Bonds do not share anything in common with traditional finance bonds. The name comes from the bonding of liquidity pairs and our own token. Crypto Bonds introduce proof of long-term position in DeFi liquidity pools, and will naturally strengthen the core of DeFi finance as a whole. They are a tradeable, long-term (90 days - 3 years) stake - bonding Uniswap liquidity-pair tokens together with SYNC. Deflation of the currency happens when Crypto Bonds are created, burning SYNC from the total supply. Using a Crypto Bond, an investor is able to lock liquidity-pair tokens with the corresponding dollar-to-dollar value in SYNC at some guaranteed interest rate of SYNC upon maturation. Dividend paying versions are also available. Therefore, this occurs in inflation, minting the principle plus interest. Crypto Bond Interest Rates SYNC balances itself through daily, self-correcting interest rates. Interest rates of bonds depends on three factors. 1. Total supply of sync in the market. 2. Duration of bond 3. Total bonded amount of that liquidity pair token Please see the full whitepaper and website for more information.