SingularityDAO, Cogito Finance, and SelfKey have joined forces to create Singularity Finance, a groundbreaking EVM Layer-2 platform that aims to tokenize AI assets and revolutionize the DeFi landscape. This strategic merger marks a significant step towards bridging the gap between artificial intelligence and decentralized finance, enabling the tokenization of AI assets on-chain.
Singularity Finance, set to launch its mainnet in the first half of 2025, will offer a platform optimized for tokenizing AI assets like GPUs and integrating them into existing DeFi applications. By transforming traditionally illiquid assets into decentralized financial products, the platform seeks to unlock new on-chain financial primitives and provide more efficient funding channels for AI innovations.
The platform will be overseen by a leadership council consisting of industry experts such as Dr. Ben Goertzel (CEO of SingularityNET), Cloris Chen (CEO of Cogito Finance), and Mario Casiraghi (CFO of SingularityNET). This council will guide the platform’s evolution and integration of AI-powered financial tools, including SingularityDAO’s DynaVaults, which offer AI-enhanced risk management and portfolio optimization.
One of the key features of Singularity Finance is the unification of three existing tokens—SDAO, CGV, and KEY—into a single network token called SFI. The token conversion will follow predetermined ratios based on a 200-day moving average, with SDAO converting to SFI at 1:80.353, CGV at 1:10.890, and KEY at a 1:1 ratio. The SFI token will launch initially on Ethereum and BNB Chain, with plans for a mainnet release in the first half of 2025.
The merger of SingularityDAO, Cogito Finance, and SelfKey aims to democratize access to AI-driven financial products and services, paving the way for a more inclusive and innovative DeFi ecosystem. The community will have the opportunity to participate in a governance vote on the merger from October 21-31, 2024, shaping the future of Singularity Finance and its impact on the AI and DeFi industries.