SingularityNET Announces FET Token Staking on Their SingularityDAO dApp, Expands Staking Support to Cardano Network

Decentralized AI platform SingularityNET has announced FET token staking on their SingularityDAO dApp. They also mentioned the ongoing efforts for a new staking pool to support CNT-FET (ASI) on the Cardano network.

DeFi and AI service provider SingularityNET has announced FET token staking on their SingularityDAO dApp.

They also highlighted the ongoing work to create a new staking pool for CNT-FET (ASI) on the Cardano network.

This move will make the FET token more accessible to investors interested in staking the asset. It also demonstrates SingularityNET's dedication to supporting the AI ecosystem with its suite of AI offerings.

Recently, FET has experienced a significant price decline, along with the broader crypto market, which has been facing a downturn. This comes about a month after the Artificial Superintelligence Alliance (ASI), comprising SingularityNET, Ocean Protocol, and Fetch.ai, deployed the FET token on the Cardano blockchain.

Ben Goertzel, the CEO of SingularityNET and a long-time Cardano advocate, stated that Cardano was the most optimal network for the deployment.

Goertzel cited Cardano's speed, low cost, and high security as factors in their decision to deploy on the network. Following the deployment, the FET token was renamed ASI as a native Cardano token (CNT).

This renaming aligns with the company's goal of enhancing interoperability among major blockchain networks. FET, as a native Cardano token, is expected to improve functionality and integration within the Cardano ecosystem.

At the time of writing, Bitcoin and the broader cryptocurrency market are showing significant price declines. The Artificial Superintelligence Alliance (FET) token is among the many tokens experiencing a notable price decrease. The asset is currently trading at a price of $1.33, with 24-hour losses of 5.36%.

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