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SingularityNET Expands FET Token Capabilities with Staking Feature

By admin On Oct 11, 2024

Decentralized AI platform SingularityNET has announced staking of FET tokens on its SingularityDAO dapp. They also mentioned ongoing efforts to create a new staking pool to support CNT-FET (ASI) on the Cardano network. The move makes the FET token more accessible to investors looking to stake the asset, demonstrating SingularityNET’s commitment to supporting the AI ecosystem through its range of AI services.

FET has seen a significant price drop recently. This comes just over a month after the Alliance for Artificial Superintelligence (ASI), comprised of SingularityNET, Ocean Protocol, and Fetch.ai, deployed the FET token on the Cardano blockchain. Ben GOERTZEL, CEO of SingularityNET and a longtime Cardano supporter, said that Cardano is the most efficient network to deploy. Goertzel said that Cardano’s speed, low cost, and high security were the reasons for the deployment decisions. Following the deployment, the FET token was rebranded as ASI as Cardano’s native token (CNT).

The rebranding is in line with the company’s mission to improve interoperability between major blockchain networks. FET, as Cardano’s native token, should improve functionality and integration within the Cardano ecosystem. The Artificial Superintelligence Alliance (FET) token is one of many tokens that have seen a noticeable price decline. At the time of writing, the asset is trading at $1.33, down 5.36% in a day.

Image: CryptoNinjas

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