Wednesday, February 19, 2025

SingularityDAO, SelfKey, and Cogito Finance Merge to Form Singularity Finance

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KEY TAKEAWAYS

  • SingularityDAO, SelfKey, and Cogito Finance have merged to form Singularity Finance, following strong community support.
  • The merger aims to create a Layer 2 ecosystem optimized for AI tokenization, enhancing DeFi primitives and AI innovation.
  • Singularity Finance will introduce a new network token, SFI, and be led by a council including Dr. Ben Goertzel, Cloris Chen, and Mario Casiraghi.
  • The integration of technologies from the three entities positions Singularity Finance as a leader in AI tokenization and onchain value creation.

Gros Islet, St. Lucia, November 8th, 2024 – SingularityDAO, SelfKey, and Cogito Finance have announced the formation of Singularity Finance following a successful merger approved by their respective communities. The merger was confirmed after governance votes from both SDAO and KEY token-holders showed overwhelming support.

The SingularityDAO community cast over 15 million SDAO tokens, with 95% backing the merger proposal. Similarly, the SelfKey community demonstrated strong approval, with 99.9% of KEY voters supporting the initiative. This merger aims to combine the technologies of the three entities to create a Layer 2 ecosystem optimized for AI tokenization, facilitating the development of new decentralized finance (DeFi) primitives and accelerating AI innovation.

Formation of Singularity Finance and Leadership

With the merger approved, the creation of Singularity Finance will commence, including a token swap to establish a single asset, SFI, as the network token. Dr. Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance, will lead a council overseeing the operations of Singularity Finance. The leadership team will also feature Cloris Chen from Cogito Finance and Mario Casiraghi from SingularityDAO.

Mario Casiraghi, Co-Founder of SingularityDAO, expressed optimism about the merger’s potential. Cloris Chen, CEO of Cogito Finance, highlighted the community’s enthusiasm for the initiative. The Layer-2 blockchain of Singularity Finance aims to support onchain assets like AI compute, reducing barriers to entry and offering permissionless access to new financial opportunities.

Technological Integration and Future Prospects

By uniting the capabilities of SingularityDAO, Cogito, and SelfKey, Singularity Finance positions itself at the forefront of AI tokenization and onchain value creation. SingularityDAO is known for its decentralized portfolio management protocol, which democratizes access to advanced crypto asset management tools. The introduction of dynavaults, multiasset, multistrategy vaults leveraging AI-enhanced analytics, is expected to provide essential infrastructure in the volatile DeFi landscape.

Cogito Finance focuses on bringing tokenized traditional assets onchain, enhancing liquidity, security, and transparency. SelfKey, on the other hand, is developing a blockchain-based identity system that empowers individuals and organizations to manage their digital identities autonomously.

For more details, the original announcement can be read here.


Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.
Sharif
Sharif
Sharif is a seasoned software engineer with a decade of experience in the tech industry, including 8 years in cryptocurrency and blockchain. With deep knowledge of decentralized technologies, Sharif offers insightful analysis and expert commentary on the transformative potential of blockchain. Through CoinsHolder.com, he shares his expertise, making him a respected voice in the cryptocurrency community.

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