SingularityDAO has announced its first Governance Token Generation event on its medium page. The company’s native token SDAO will be up for sale from May 6th at 11 AM UTC+0 until May 9 11 AM UTC+0 for AGI token holders. The public governance token generation event will commence between May 10 and May 13.
Users can buy these tokens through MANTRA DAO launchpad, ZENDIT.
The total circulating supply of the tokens will be 100 million. Tokens offered at the Generation Event will be 8 million. After TGE, the token’s circulating supply will be 9.3175 million. The valuation of tokens at TGE will be 1.827 million. The price for each token is mentioned below:
- Private placement price: $0.20
- AGI holders price: $0.20
AGI is the proprietary cryptocurrency token used by the SingularityNET platform.
For joining the governance token generation event, users have to go through the KYC process: SingularityDAO Whitelist Portal. The process is open until May 5 11:59 PM UTC+0. After clearing the KYC process, users have to join the MANTRA DAO ZENDIT pool. This will allow whitelisted users access to liquidity pools on a first-come-first-served basis.
Users will be able to buy SDAO token using the following currencies:
AGI token holders have to hold the tokens in their private wallets until May 5 11:59 PM UTC+0. According to the number of AGI tokens, the token holders can buy a specific range of SDAO tokens:
- Holders of 1,000 to 2,499 AGI tokens will be able to purchase a maximum of 3,750 SDAO tokens
- Holders of 2,500 to 9,999 AGI tokens will be able to purchase a maximum of 6,250 SDAO tokens
- Holders of 10,000 to 24,999 AGI tokens will be able to purchase a maximum of 12,500 SDAO tokens
- Holders of 25,000 AGI tokens or more will be able to purchase a maximum of 25,000 SDAO tokens
All the tokens purchased during TGE are subject to a 12-month linear vesting schedule. 20% of the tokens will be released at Token Generation Event and 7.27% in 11 subsequent monthly releases. What that means is, participants will unlock 20% tokens right away and receive 7.27% tokens subsequently each month in their wallets.
SingularityDAO is a decentralized, user-governed marketplace that takes the help of blockchain to create AI teams with broad capabilities by connecting diverse AIs together. The company leverages sophisticated AI combined with DeFi tools to magnify users’ exposure to the crypto economy while optimizing navigation of complex markets.