What is AGIX? SingularityNET’s Native Token Explained
Welcome to the forefront of the AI revolution with SingularityNET, where the future of artificial intelligence becomes accessible, equitable, and beneficial to all sentient beings.
SingularityNET was founded on the belief that AI should not be the exclusive domain of a few but a shared resource that benefits all of humanity.
At the heart of our collective journey is the AGIX token, your token of participation in the vibrant SingularityNET platform and ecosystem.
With AGIX, you’re not just observing the AI revolution from the sidelines; you’re stepping into a role where your voice, actions, and vision contribute directly to the ethical and inclusive growth of Artificial General Intelligence (AGI).
AGIX has been at the forefront of decentralized AI innovation for years. Since its inception in 2018, AGIX has been committed to building an ecosystem where AI and blockchain synergize to democratize access to AI technologies.
Whether you’re a developer, innovator, enthusiast, or simply curious about the potential of decentralized AI, this guide will introduce you to the native token of the SingularityNET ecosystem and help you take your first steps in our collective journey to shaping a future where technology empowers and benefits all of humanity.
What is AGIX?
AGIX is the native token of the SingularityNET platform, and it functions as both a utility and governance token. AGIX tokens are used to facilitate transactions within the SingularityNET ecosystem, including payments for AI services, rewards for network participants, and governance of the platform’s development and features.
AGIX can be used for staking, governance voting, and as currency on the SingularityNET marketplace.
With AGIX, token holders can decide which projects to fund inside Deep Funding, SingularityNET’s funding program for developers of AI projects, and other related initiatives.
Benefits of the AGIX Token
From enabling an entire system of AI applications that foster collaboration and innovation, to providing utility and governance that empower holders to shape the future of AI, holding AGIX offers a unique blend of opportunities.
- Decentralized AI Ecosystem: AGIX opens the door to a decentralized AI ecosystem, encouraging collaboration among developers, users, researchers, and creators to shape a shared AI future. Ultimately, AGIX holders possess a tangible stake in the technological transformation towards a decentralized AI future.
- Utility and Governance: AGIX functions both as a utility token for transactions within the SingularityNET ecosystem and as a governance token, allowing holders to vote on platform development and features.
- Staking Rewards: By staking AGIX, holders can get rewards, contributing to the platform’s growth while receiving recognition for their commitment.
- Ecosystem Airdrops: AGIX holders benefit from ecosystem airdrops, receiving tokens from new projects launched within the SingularityNET ecosystem, fostering shared ownership and growth.
- Deep Funding Program: Offers financial support to AI developers for creating innovative AI tools and services, promoting a decentralized and equitable AI landscape. Other options to apply for funding are promotional initiatives that help grow the DF platform and the creation of tooling or code that helps augment it.
- Blockchain agnostic: The AGIX token is currently available on both Ethereum and Cardano blockchains.
Wallets for Storing your AGIX Tokens
It’s advisable to store your AGIX tokens in a private wallet in which you have access to the private keys. This adds an extra layer of security to your tokens. When you store your assets on a centralized exchange or any other custodial service, you’re essentially trusting them to safeguard your tokens on your behalf. With a private wallet, you and only you have access to your digital assets.
Here are some options for non-custodial wallets you can trust will keep your assets safe.
Hardware Wallets
Hardware wallets are physical devices designed to securely store cryptocurrency offline, protecting it from online threats like hacking. It offers a high level of security for digital assets, making it ideal for long-term storage and for users seeking to minimize their exposure to cyber risks.
· Ethereum-based AGIX: Ledger Nano S and X, and Trezor support ERC-20 tokens and thus can be used to store Ethereum-based AGIX tokens.
· Cardano-based AGIX: Ensure the hardware wallet supports Cardano assets. Ledger devices, for example, can be used in conjunction with an Eternl wallet to manage Cardano assets.
Software Wallets
A software wallet is a digital cryptocurrency wallet that operates as an application on devices like computers or smartphones. Unlike physical hardware wallets that store cryptocurrencies offline for enhanced security, software wallets are internet-connected, offering easier access and transaction capabilities.
· Ethereum-based AGIX: MetaMask, Trust Wallet, and MyEtherWallet are popular choices that support ERC-20 tokens.
· Cardano-based AGIX: Eternl, Nami, Daedalus, Yoroi, AdaLite, and Exodus are wallets that support Cardano-based AGIX tokens.
You may also use an exchange software wallet provided by exchanges like Binance or Coinbase, but it’s important to move your tokens to a personal wallet for better security. If an exchange supports Cardano’s native assets, you may temporarily store your AGIX tokens there, but similarly, it is advisable to transfer them to a personal wallet.
Safety and security
Beware of fraudulent communications claiming to be from SingularityNET and never share private keys or personal details in response to unsolicited messages. Your safety is our top priority, and we want to ensure you’re aware of these malicious attempts. Here’s what you need to know:
- Never share private keys or personal details in response to unsolicited messages.
- Phishing attempts may take various forms, including fake NFT vouchers, airdrop announcements, phony giveaways, or deceptive emails.
- Always verify information before clicking on links or engaging with any activity claiming to be from SingularityNET.
- Trust only official updates from SingularityNET verified channels. You can find our full list of official channels at https://linktr.ee/singularitynet
If you receive a suspicious message posing as SingularityNET, remain vigilant. Do not engage with it by responding, clicking on any links, connecting your wallet to a third party website, or providing any personal information. Instead, report the message immediately through through the reporting function and then delete it entirely from your inbox.
Own a Stake in the Future of Artificial Intelligence with AGIX
AGIX is much more than a digital asset; it represents a direct stake in the growing field of Artificial Intelligence and the future it heralds. It’s a symbol of empowerment and a tool for catalyzing change, offering you a unique opportunity to be part of a movement that is setting the foundation for a future where AI is beneficial to all.
AGIX, the native token of the SingularityNET platform, is at the forefront of merging blockchain technology with AI, offering a glimpse into a future where decentralized AI services are the norm.
Holding AGIX equals holding a stake in the democratization of AI technology. It offers a unique blend of utility, governance, and the potential for long-term growth within the AI and blockchain spheres.
As AI continues to evolve and integrate into various aspects of our lives, AGIX holders can be at the forefront of this technological revolution, shaping the future of artificial general intelligence and its applications in the real world as they emerge.
About SingularityNET
SingularityNET is a decentralized Platform and Marketplace for Artificial Intelligence (AI) services founded by Dr. Ben Goertzel with the mission of creating a decentralized, democratic, inclusive, and beneficial Artificial General Intelligence (AGI).
- Our Platform, where anyone can develop, share, and monetize AI algorithms, models, and data.
- OpenCog Hyperon, our premier neural-symbolic AGI Framework, will be a core service for the next wave of AI innovation.
- Our Ecosystem, developing advanced AI solutions across market verticals to revolutionize industries.
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