Dear fellow Singularitarians,
On behalf of my fellow supervisory council members, I extend our sincere thanks for your continued collaborative support towards the team and our community during this very challenging and unprecedented time.
I wanted to also let you know that we recently caught up with Ben, after he called an emergency meeting with some of the SingularityNET leadership following news of the KuCoin exchange marketplace hack.
We were assured that the SingularityNET platform is still safe, operating business as usual, and unaffected. Although there was no direct relationship between SingularityNET and KuCoin, we were informed that after some investigation there appears to be a number of AGI tokens traded on their platform. As such, our first instinct is to protect AGI token holders and our community.
During the meeting, we discussed how the SingularityNET team conducted their risk assessment immediately after knowledge of the marketplace hack to assess impacts, risks, and prioritize the best course of action. Although other projects have indicated best practice to be a hard fork, we initially collectively agreed that the best course of action would be to put this decision to a democratic vote by the community and to safeguard the utility of the token. However, as the situation evolved, we came to understand that the conditions to enable a successful fork may no longer be applicable, incorporating as well the time necessary to run the community vote. This is an area on the agenda to innovate in the future.
We are happy that the SingularityNET team is committed to acting in the best interests of the foundation. We understand further updates and the next steps will be posted by the team. We also look forward to the exciting news of the Cardano partnership.
On behalf of my fellow council members, we continually encourage your collaborative feedback and suggestions for continual improvement as we move towards defining best practice governance structures that support the foundation to becoming the key protocol towards the future of AGI.
Cheers,
Penny, David, and Matthew.
Your Singularity Council Members