Singularitydao, Cogito Finance and Selfkey merge into Singularity Finance

• Singularity Finance, whose Mainset is scheduled to start in the first half of 2025, will to be token on an EVM Layer-2 platform.
• sdao, CGV and key tokens are merged into a uniform SFI token for the network.
• The SFI token is initially introduced to Ethereum and the BNB chain.

In a significant step towards integrating artificial intelligence (AI) with decentralized finance (Defi), Singularitydao, Cogito Finance and Selfkey have announced the start of a strategic merger Singularity financing An innovative EVM Layer-2-platform for the tokenization of the Real-World Assets (RWA) of AI Economics.

This common effort aims to cope with challenges in connection with the possession and accessibility of AI assets and at the same time accelerate AI-controlled innovations by bringing these assets into the chain.

Mario Casiraghi, co-founder of Singularitydao, emphasized the importance of the merger and explained: "We stand at the interface of KI and Defi, where a large part of the innovations that are currently taking place in the web3 area takes place." Ai-Fi uses the immense potential of the AI economy by symbolizing the AI value chain and creating unprecedented opportunities for access, exchange and monetization of these assets. ”

functions of the new Singularity Finance platform

Singularity Finance will serve as a comprehensive solution for the AI and Defi industry and offer a platform that is optimized for the tokenization of AI assets such as GPUs and its integration into existing defect applications.

By converting these traditionally illiquid assets into decentralized, tradable financial products, the platform would like to enable new on-chain-financial primitive and more efficient financing channels for AI innovations.

The tokenization framework developed by Cogito Finance will play a central role in bringing RWAs into the chain, while the compliant identity solutions of selfkey ensure safe user participation.

The Singularity Finance is supervised by a management council, which from Dr. Ben Goertzel (CEO of Singularitynet), Cloris Chen (CEO of Cogito Finance) and Mario Casiraghi (CFO from SingularityNet).

The Council will lead the development of the platform, including the integration of AI-based financial tools such as Dynavault of Singularitydao, which enable AI-based risk management and portfolio optimization.

The community will have the opportunity to participate in a governance vote on the merger, which is planned from October 21 to 31, 2024.

The SFI token will be the native Token of Singularity Finance

The merger will combine three existing token-SDAO, CGV and key-in a single network token called SFI.

The token conversion takes place according to the given conditions based on a sliding 200-day average by August 20, 2024: SDAO is converted in a ratio of 1: 80.353 in SFI, CGV in a ratio of 1: 10.890 and key in a ratio of 1: 1.

The SFI token is initially introduced on Ethereum and the BNB chain, the publication in the Mainset is planned for the first half of 2025.

The bundled expertise of Singularitydao, Cogito Finance and Selfkey aims to change the defi landscape by democratizing access to AI-controlled financial products and services.