What is AGIX coin? Analysis of what AGIX coins mean

SingularityNET's AGIX coin powers an ecosystem for AI services and development, offering economic incentives for creating and using innovative AI solutions.

Oct 09, 2024 at 02:54 pm

What is AGIX Coin? A Comprehensive Analysis

1. Overview

SingularityNET's AGIX coin is a crypto token that powers an ecosystem for artificial intelligence (AI) and related services. AGIX enables users to access a global marketplace for AI services and participate in the development and monetization of AI solutions.

2. AGIX Use Cases

AGIX has several key use cases within the SingularityNET ecosystem:

• Purchasing AI services: AGIX is used to pay for access to AI services and models on the SingularityNET platform.
• Creating and sharing AI solutions: Developers can use AGIX to create and deploy their own AI models on the platform, earning rewards for their contributions.
• Governance: AGIX holders can vote on proposals related to the platform's future development and use of funds.

3. AGIX Tokenomics

• Total supply: 1 billion
• Circulating supply: ~483 million (as of January 2023)
• Release schedule: Linear release of tokens over 6 years, ending in 2025

4. AGIX's Role in AI Adoption

SingularityNET aims to create a decentralized and accessible ecosystem for AI development and deployment. AGIX serves as an economic incentive for users to contribute to the platform and drives the development of innovative AI solutions.

5. AGIX Cross-Chain Capabilities

AGIX is an ERC-20 token based on the Ethereum blockchain. However, it also supports cross-chain transfers to the Polygon blockchain via the SingularityNET Bridge. This enables users to take advantage of lower transaction fees and faster processing times on Polygon.

6. AGIX Market Performance

AGIX has experienced significant price fluctuations since its launch in 2019. Its value reached an all-time high of over $0.80 in May 2021. As of January 2023, AGIX is trading at around $0.30.

Conclusion

AGIX coin plays a vital role in the SingularityNET ecosystem, facilitating the purchase, creation, and sharing of AI services. As AI adoption continues to grow, AGIX has the potential to become a valuable token for both AI developers and users seeking access to cutting-edge technologies.