SingularityDAO, SelfKey, and Cogito Finance Merge to Form Singularity Finance, a Layer-2 Ecosystem Optimized for AI Tokenization

SingularityDAO (SDAO), SelfKey (KEY), and Cogito Finance (COG) have agreed to form Singularity Finance (SFI) after the communities approved the merger.

Gros Islet, St. Lucia, 8th November, 2024, Chainwire

Following community approval, SingularityDAO, SelfKey, and Cogito Finance will merge to form Singularity Finance. SDAO and KEY token-holders voted overwhelmingly to support the proposal.

The merger was approved by the SingularityDAO (SDAO) community in a governance vote, with 95% of over 15 million SDAO tokens voting in favor. In a separate community vote, the SelfKey community also approved the merger, with 99.9% of KEY voters supporting the proposal.

SingularityDAO, SelfKey, and Cogito Finance will combine their technologies to create a Layer-2 ecosystem that is optimized for AI tokenization. This will enable the creation of new DeFi primitives and accelerate innovation in AI.

The formation of Singularity Finance will now begin, with a token swap to create a single asset, SFI, which will serve as the network token.

A council led by Dr. Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance, will oversee Singularity Finance operations. The team will also include Cloris Chen of Cogito Finance and Mario Casiraghi of SingularityDAO.

Mario Casiraghi, Co-Founder SingularityDAO, said: “We’re delighted that the merger can proceed thanks to the support and votes from both the SelfKey and SingularityDAO communities. We’re grateful to all SDAO and KEY holders for participating in this pivotal governance decision. With their approval, we’re now set to move forward with creating Singularity Finance as a Layer-2 platform that merges the strengths of SingularityDAO with our partners SelfKey and Cogito Finance, accelerating innovation at the intersection of DeFi and AI.”

Cloris Chen, CEO of Cogito Finance, expressed her excitement about the community vote: “The overwhelming support from both the SingularityDAO and SelfKey communities for the SFI merger is a testament to our shared vision for the future of finance. Together, with combined expertise and leading technologies, we’re set to unlock new possibilities at the intersection of AI and DeFi. Singularity Finance will not only drive innovation and accessibility across the industry but also position itself as a leader in the fast-evolving AI economy, creating a Layer-2 ecosystem that attracts developers and users eager to explore pioneering use cases and assets.”

Singularity Finance will support onchain assets, such as AI compute, through its Layer-2 blockchain, reducing the barriers to entry and providing permissionless access to new financial opportunities. By combining the capabilities of SingularityDAO, Cogito, and SelfKey, Singularity Finance will be at the forefront of the movement to tokenize AI and open up greater onchain value.

About SingularityDAO

SingularityDAO is a decentralized Portfolio Management Protocol that aims to democratize access to advanced crypto asset management tools. The upcoming dynavaults, which are multiasset, multistrategy vaults that leverage AI-enhanced analytics and risk management tools, provide the necessary infrastructure in the volatile world of DeFi.

Learn more: https://singularitydao.ai/

About Cogito Finance

Cogito’s mission is to bring tokenized traditional assets onchain for greater liquidity, security, and transparency. It offers a range of carefully-engineered, fully transparent, and institutional-grade investment products. Led by a team of finance and technology experts, Cogito is pioneering the future of onchain finance.

Learn more: https://www.cogito.finance/

About SelfKey

SelfKey is building a blockchain-based identity system that enables identity owners to truly own, control, and manage their digital identity. Its blockchain-based self-sovereign identity system empowers individuals and organizations to find more freedom and privacy. Structured as a DAO, SelfKey puts individuals and corporations in charge of their identity data.

Learn more: https://selfkey.org/

Contact

Market Acrosspr@marketacross.com

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