SingularityDAO, Cogito Finance and SelfKey join forces to create Singularity Finance, a platform based on an optimized Layer-2 for the tokenized AI economy, facilitating access and management of AI assets in the world of decentralized finance.
Let’s see all the details in this article.
Summary
A new AI-financial ecosystem: the fusion of SingularityDAO, Cogito Finance, and SelfKey
As anticipated, SingularityDAO, Cogito Finance, and SelfKey have announced a strategic merger.
In particular, this is aimed at creating Singularity Finance, a platform based on a Layer-2 dedicated to the tokenization of real-world assets (RWA) of the economy linked to artificial intelligence.
This merger promises to revolutionize the digital economy. Specifically, by accelerating the adoption of assets related to artificial intelligence (AI) through the integration of advanced technologies that combine AI and decentralized finance (DeFi).
The Singularity Finance platform will be a unique and highly innovative environment, designed for the tokenization of AI assets, such as GPU, which will be integrated into existing DeFi applications.
This will create new digital financial instruments, improving the fundraising capacity for projects led by intelligenza artificiale.
Tokenization will allow users to actively participate in decentralized markets, managed thanks to the robust infrastructure provided by Cogito Finance and the compliant identification offered by SelfKey.
Cogito Finance, one of the main entities involved in the merger, has developed a tokenization framework to bring real-world assets (RWA) onto the blockchain.
This will facilitate the creation of decentralized markets where anyone can access and participate. Thus reducing the barriers that currently limit participation in the AI economy.
SelfKey, for its part, will ensure regulatory compliance through its digital identity solution, protecting participants from the pitfalls associated with unverified or fraudulent identifications.
AI and DeFi: the fusion of two worlds
Mario Casiraghi, co-founder of SingularityDAO, explained that the fusion of AI and DeFi marks an important evolution within the Web3 ecosystem.
By tokenizing the value chain of artificial intelligence, Singularity Finance will create unprecedented opportunities for access, exchange, and monetization of these innovative assets.
This merger not only democratizes access to advanced financial tools, but it will also open new avenues for raising funds and supporting AI-driven innovations.
Cloris Chen, CEO of Cogito Finance, emphasized how the exponential growth of the AI sector offers enormous opportunities for both institutions and retail participants.
However, he also acknowledged that there are still significant barriers, both on the demand side and on the supply side, that limit a wider participation.
Singularity Finance, with its Layer-2 optimized for decentralized finance powered by AI, aims to overcome these challenges and quickly adapt to a constantly evolving regulatory landscape.
New tokens for a new era
A crucial aspect of the merger is the creation of a new unified token, the SFI, which will serve as the network token for Singularity Finance.
The current tokens SDAO, CGV, and KEY will be converted into the new token SFI with conversion rates already established. For example, 1 SDAO will be converted into 80.353 SFI, while 1 CGV will be exchanged for 10.890 SFI, and the KEY token will be exchanged on a one-to-one basis with 1 SFI.
This conversion was calculated based on the 200-day moving average of each token until August 20, 2024.
The SFI token will initially be available on Ethereum and BNB Chain, with the mainnet release scheduled for the first half of 2025.
This unification represents an important step towards the creation of an integrated and interoperable AI-financial ecosystem.
After the merger, a leadership council will be established to oversee the operations of the new financial ecosystem.
Leading this council will be Dr. Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance, joined by Cloris Chen, CEO of Cogito Finance, and Mario Casiraghi, CFO of SingularityNET and co-founder of SingularityDAO.
This advice will ensure that Singularity Finance remains at the forefront of the tokenization of AI assets and decentralized finance.
Singularity DAO predicts a solution to access and liquidity problems
The merger aims to address the main issues related to access and ownership of assets linked to artificial intelligence.
Thanks to the SFI-compliant tokenization infrastructure, users will be able to access new yield opportunities from computing systems and AI agents.
Furthermore, the participants in the AI market will be able to generate greater liquidity for their assets, making high-quality yield opportunities supported by hardware and AI more accessible.
Singularity Finance, with its Layer-2, will integrate legal frameworks, distribution channels, a marketplace, and asset management tools based on artificial intelligence.
Providing thus a complete solution to tackle current challenges and open new perspectives in the world of decentralized finance and artificial intelligence.
