PRESS RELEASE. GAIMIN (www.gaimin.io), the world’s leader in delivering decentralised data processing power through gaimin.cloud (www.gaimin.cloud), and io.net (www.io.net) one of the world’s largest Decentralized Physical Infrastructure Network (DePIN) for AI compute have agreed to investigate how the synergistic technologies from both companies can be integrated to deliver the processing capability to support the growing […]
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Cosmos-based decentralized exchange Astroport is set to deploy its passive concentrated liquidity (PCL) pools on Osmosis, the largest Cosmos-based DEX by volume, following successful governance votes on both platforms. This move marks an alignment between two of the most active DEXes in the Cosmos ecosystem, aiming to improve the overall trading experience and capital efficiency for users.
PCL pools, which aim to provide the benefits of concentrated liquidity without requiring active management, will be offered alongside Osmosis’s existing “supercharged liquidity” pools. Astroport’s pools utilize an advanced repegging algorithm that automatically concentrates liquidity around the exponential moving average of ongoing trades. As Astroport core dev Andre Sardo explained,
“With PCL pools, you go and LP in a pool, and you can leave your tokens there for days, months or years, and have it automatically adjust to market conditions. Impermanent loss gets minimized, and fees get maximized.
And because your liquidity is passive, it’s truly programmable or composable. It can be tapped by apps and vaults and aggregators anywhere in the Cosmos.”
The deployment of Astroport’s PCL pools on Osmosis is expected to benefit both protocols. Standard PCL pool fees will flow back to xASTRO stakers, while all trades routed through Astroport’s PCL pools on Osmosis will generate a 0.1% fee for Osmosis, to be split between the Osmosis community pool and the OSMO staking pool. This move is anticipated to expand Astroport’s reach, grow its global trading volume and fee generation, and attract more passive liquidity to Osmosis.
Sunny Aggarwal, Co-Founder of Osmosis Labs, predicted the move could lead to record volumes within the first month.
“Competition is good, but aligning for the benefit of the greater community is even better — so it’s very exciting to see Astroport and Osmosis joining forces here… Only time will tell, but I predict that the Astroport deployment on Osmosis will become one of the biggest by volume within a month or so of the launch.”
While supercharged liquidity and PCL pools may appear to be competitors, the teams believe they are better viewed as complementary offerings catering to different types of LPs. Supercharged liquidity pools are best optimized by professional market makers and active LPs who run their own algorithms and programmatically readjust their liquidity to match market conditions. In contrast, PCL pools cater to more casual LPs who prefer a “deposit and chill” approach, according to the teams, allowing the pool’s algorithm to concentrate their liquidity automatically.
According to Jose Maria Macedo, Founder and CEO of Delphi Labs, this alignment between Astroport and Osmosis is a significant development in the Cosmos ecosystem. Macedo stated,
“It’s two massive DEXes that outsiders look at as rivals coming together and assimilating. And they’re doing it in ways that benefit both protocols. They’re leaning into their strengths and combining to improve liquidity for the entire Cosmos ecosystem.”
Further, Astroport core developer Donovan Solms highlighted the portability of Astroport’s codebase, comparing it to a “magic suitcase” that can be deployed on any Cosmos chain. Solms explained,
“We can go wherever there’s a need for liquidity in the Cosmos. And thanks to IBC, each deployment is interconnected. It’s part of a bigger whole, which is this backend layer of truly passive, truly infinite liquidity.”
Preparations for the deployment are underway, with PCL pools expected to go live on Osmosis in the coming weeks. This historic alignment between Astroport and Osmosis is poised to improve capital efficiency for those who swap or have trades routed through Osmosis while also potentially “defragmenting” liquidity spread across other automated market makers throughout the Cosmos ecosystem.
Nigeria is extending an invitation to scientists of Nigerian heritage, as well as globally renowned experts who have worked within the Nigerian market, to collaborate in the formulation of its National Artificial Intelligence (AI) Strategy.
According to Bosun Tijani, the Minister of Communications, Innovation and Digital Economy, who made the announcement on X (formerly Twitter), the National Information Technology Development Agency (NITDA) has initiated the development of a National AI Strategy.
The action will impact the way the government formulates new technological solutions for its critical national challenges. As a result, the government is broadening its co-creation strategy by assembling a selection of leading AI researchers with Nigerian heritage from around the world.
The Nigerian government recognizes that AI has developed into a versatile technology, reshaping production and services and holds immense potential for influencing societal progress and economic expansion.
We’re curating a list of the top researchers of Nigerian descent from all over the world to join us in co-creating a National AI Strategy. The strategy will help shape our approach to building innovative tech solutions to our most pressing national problems…1/2 pic.twitter.com/6JpPPps3oy
— Dr. ‘Bosun Tijani (@bosuntijani) August 28, 2023
According to a PricewaterhouseCoopers study, artificial Intelligence could contribute $15.7 trillion to the global economy by 2030, with approximately $3 trillion attributed to enhanced productivity and $9.1 trillion arising from novel goods and services.
According to a white paper titled “Co-creating a National Artificial Intelligence Strategy for Nigeria,” which is referenced in the minister’s post, a sophisticated method was used to pinpoint accomplished AI researchers with Nigerian roots, using global AI publication data and advanced machine learning models.
Similar to the “h-index,” a research index was created to locate influential AI researchers of Nigerian heritage. As the preliminary research phase concludes, the Nigerian government seeks public involvement, acknowledging the potential for errors and aiming to tap into collective knowledge and insights.
Related: Nigerian crypto exchange’s token launch draws scrutiny
Reports from local media indicate that Kashifu Inuwa, the director-general of NITDA, has revealed intentions to establish communities of AI developers nationwide to influence the country’s technological future. He mentioned that the initiative will commence in three states in 2023, followed by strategic planning for its extension to additional states and, eventually all local government areas.
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