- SingularityDAO merges with SelfKey and Cogito to kind Singularity Finance.
- 94.7% of SDAO holders permitted the merger, awaiting KEY holders’ closing vote.
- Singularity Finance to give attention to AI, RWA tokenization, and on-chain identification.
In a landmark choice, SingularityDAO, the DeFi arm of the SingularityNET AI ecosystem liable for decentralized portfolio administration, has voted to merge with Cogito Finance and SelfKey to kind a brand new entity, Singularity Finance. This EVM Layer 2 platform will give attention to tokenizing the AI financial system and accelerating the adoption of AI-powered monetary options.
The merger was permitted by an amazing 94.7% of SingularityDAO (SDAO) token holders, with over 15 million tokens forged in favour.
The neighborhood vote, performed via the Snapshot governance platform, represents a vital step towards Singularity Finance’s creation, which can supply superior decentralized finance (DeFi) and synthetic intelligence (AI) options. Notably, the vote comes barely two weeks after the merger was proposed.
Mario Casiraghi, Co-Founding father of SingularityDAO, expressed gratitude for the neighborhood’s assist, saying, “We’re grateful to all SDAO holders for participating in this pivotal governance vote and having their say on the future of SingularityDAO. With their approval, we will now move ahead with the proposal to create Singularity Finance as an L2 that combines the best elements of SingularityDAO with those of our partners SelfKey and Cogito Finance to accelerate DeFi and AI innovation.”
Cloris Chen, CEO of Cogito Finance, highlighted the partnership’s potential, stating, “The overwhelming community support for the SFI merger is a powerful testament to the shared vision we have for the future of finance. By combining our expertise and technologies, we are poised to unlock unprecedented opportunities at the intersection of AI and DeFi.”
SelfKey Neighborhood anticipated to vote on the merger
The merger now awaits a closing vote from SelfKey’s neighborhood of KEY token holders to solidify SelfKey’s participation.
As soon as permitted, Singularity Finance will function a complete platform addressing vital areas within the AI and DeFi ecosystem, together with real-world asset (RWA) tokenization and on-chain identification administration.
This built-in method will improve SingularityDAO’s present AI-powered portfolio administration capabilities with SelfKey’s compliance options and Cogito Finance’s RWA tokenization options.
A management council will information Singularity Finance, with distinguished members together with Dr. Ben Goertzel, CEO of SingularityNET, Cloris Chen, CEO of Cogito Finance, and Mario Casiraghi, CFO of SingularityNET. Collectively, they goal to pioneer progressive monetary providers, focusing on builders and customers within the rising AI-based monetary panorama.
