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THE DAILY INDEX

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MARKETS & BUSINESS

TLDR Crypto

FETCH.AI, OCEAN PROTOCOL, AND SINGULARITYNET UNITE TO CREATE ARTIFICIAL SUPERINTELLIGENCE ALLIANCE

Three major players in the crypto AI space, SingularityNET, Fetch.ai, and Ocean Protocol, have announced a merger to create the ‘Artificial Superintelligence Alliance’, a decentralized AI network. The alliance merges $FET, $OCEAN, and $AGIX tokens into one - $ASI. This groundbreaking move aims to accelerate the path towards Artificial General Intelligence, provide an alternative to Big Tech's AI advancements, and facilitate more ethical AI development and utilization.

INTRODUCING INSTANT, 24/7/365 SUBSCRIPTIONS AND REDEMPTIONS; SHIFTING OUSG FUNDS INTO BLACKROCK’S BUIDL

Ondo is launching instant investment and redemption for its OUSG product, bypassing traditional securities settlement times. An additional form of OUSG, described as rOUSG, will maintain a steady mint/redeem price of $1.00, with yields distributed daily. A conversion tool will also facilitate immediate OUSG and rOUSG conversion. Meanwhile, a significant portion of OUSG's assets will be placed into the BlackRock USD Institutional Digital Liquidity Fund.

OASIS AI: THE FIRST DISTRIBUTED AI INFERENCE PLATFORM

Oasis AI has introduced a distributed AI inference platform enabled by a distinctive browser extension in an attempt to entice a wider user base, irrespective of their technical expertise, to participate in the AI space. The platform facilitates decentralized computing, makes APIs easily accessible, and promotes AI inference at scale. In the upcoming weeks, an extension for providers, an inference platform, and enterprise APIs are expected to be released.

DEPIN - A NEW PARADIGM IN CRYPTO

This article gives an overview of the DePIN space, a new sector in cryptocurrency that pertains to Decentralized Physical Infrastructure Networks. After an initial surge in prices, DePIN projects seem primed for promising future growth. The broad category encompasses both physical and digital resources. Its benefits include resource efficiency, lower barriers to entry, and decentralization. This article highlights several DePIN projects, including Filecoin, Helium, and Shadow.

THE TOKEN IS THE PRODUCT

Tokenization plays a pivotal role in the distribution strategy for blockchain-based products, often being more significant than the product itself. Founders who focus on attracting attention and liquidity to their tokens can create successful crypto projects and substantial network effects. Examples include Uniswap and the Helium Network, which used tokens to incentivize network participation and subsequently gained great traction because of that.

NEW BLACKROCK TOKENIZED FUND GARNERS $160 MILLION IN DEPOSITS

BlackRock's first tokenized investment fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), has attracted $160 million in inflows within the first week of its launch, boosted by contributions from tokenized real-world asset platform, Ondo Finance. The fund, which invests in U.S. Treasury bills, repurchase agreements, and cash, provides dividends to qualified investors in the form of tokens representing U.S. dollar yield.

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