The communities of SingularityDAO, SelfKey, and Cogito Finance have officially approved their merger, leading to the creation of the innovative new project, Singularity Finance.
Details of Singularity Finance Merger
SingularityDAO, SelfKey, and Cogito Finance have decided to combine their technologies to create a Layer 2 ecosystem optimized for AI tokenization. This will support the creation of new DeFi primitives and accelerate AI innovation. The communities of SingularityDAO and SelfKey overwhelmingly supported the proposal during the vote. More than 15 million SDAO tokens were cast, with 95% backing the motion. The SelfKey community gave 99.9% support.
Token Allocation and Governance Structure
The creation of Singularity Finance will be accompanied by a token swap to create a single asset, SFI, which will serve as the network token. The exchange will occur at the following ratios: 1 KEY = 0.1 SFI, 1 SDAO = 8.0353 SFI, 1 CGV = 1.0890 SFI. The governance of Singularity Finance will be overseen by a council led by Dr. Ben Goertzel, CEO of SingularityNET, and will include experts such as Cloris Chen from Cogito Finance and Mario Casiraghi from SingularityDAO.
Plans and Prospects for Singularity Finance
Singularity Finance will support onchain assets through its Layer-2 blockchain ecosystem, reducing entry barriers and providing seamless access to new financial opportunities. By uniting the capabilities of SingularityDAO, Cogito, and SelfKey, Singularity Finance aims to position itself as a leader in AI tokenization, creating new onchain value. Mario Casiraghi, Co-Founder of SingularityDAO, highlighted the community's support in this crucial step, emphasizing the importance of combined efforts in accelerating innovation at the intersection of DeFi and AI.
The merging of SingularityDAO, SelfKey, and Cogito Finance opens up new possibilities for creating an innovative financial product that integrates blockchain technology and artificial intelligence.
