SingularityDAO, Cogito Finance, and SelfKey Merge to Launch Singularity Finance for Tokenized AI Economy

In a significant move for the AI and blockchain industries, SingularityDAO, Cogito Finance, and SelfKey have announced a strategic token merger. This merger will form Singularity Finance, an Ethereum Virtual Machine (EVM) Layer-2 platform designed to support the tokenization of real-world assets (RWA) tied to the AI economy. The new platform will utilize each company’s unique technologies to create an ecosystem where AI assets like GPUs can be tokenized and integrated into decentralized finance (DeFi) applications.

The goal of this collaboration is to accelerate the Web3 space by introducing AI-powered financial tools that will automate functions such as portfolio management and risk analysis. By enabling the tokenization of AI-driven resources, Singularity Finance will unlock new liquidity avenues and provide more efficient funding sources for AI innovation.

Tokenizing the AI economy

Singularity Finance aims to bring real-world AI assets on-chain, allowing them to be used in decentralized markets. This process will rely on Cogito’s tokenization framework, which enables the smooth integration of AI assets into DeFi systems. SelfKey’s identity solutions will further enhance these processes, ensuring regulatory compliance and secure identity management for users participating in this tokenized ecosystem.

Singularity Finance’s Layer-2 solution is expected to offer a range of AI-driven financial tools and services. These will include tools for advanced portfolio management and risk analysis, powered by SingularityDAO’s DynaVaults technology. These vaults, driven by AI, will optimize asset management, making DeFi more accessible and efficient for users.

Cogito Finance CEO Cloris Chen highlighted the need for democratizing access to AI investments, commenting:

The rapid growth of the AI sector is creating significant opportunities for both institutions and retail participants. However, barriers still exist on both the demand and supply sides, limiting broader participation in the AI economy. By developing our own Layer-2 solution democratizing AI-Fi, we can overcome these challenges and remain agile in adapting to an evolving regulatory landscape.

SingularityDAO co-founder Mario Casiraghi commented on the merger, emphasizing its role in shaping the future of both AI and decentralized finance (DeFi). He stated:

We stand at the intersection of AI and DeFi, where much of the innovation currently taking place within the Web3 space is occurring. AI-Fi harnesses the immense potential of the AI economy by tokenizing the AI value chain, creating unprecedented opportunities to access, exchange, and monetize these assets.

Unified SFI token

As part of the merger, the three native tokens of SingularityDAO (SDAO), Cogito Finance (CGV), and SelfKey (KEY) will be converted into a unified token, SFI, which will function as the network token for Singularity Finance. The migration ratios have been set based on a 200-day moving average, and are as follows:

• 1 SDAO = 80.353 SFI
• 1 CGV = 10.890 SFI
• 1 KEY = 1 SFI

Initially, the SFI token will be available on Ethereum and BNB Chain, with a full mainnet launch planned for the first half of 2025.

Future leadership and governance

The newly merged Singularity Finance will establish a leadership council, which will oversee the development and growth of the ecosystem. The council will include prominent figures from each merging entity: Dr. Ben Goertzel, CEO of SingularityNET, Cloris Chen of Cogito Finance, and Mario Casiraghi, Co-Founder of SingularityDAO.

By providing a framework for tokenizing AI-related assets, Singularity Finance aims to overcome some of the existing challenges in AI investment. The platform will also foster additional liquidity, making high-quality, hardware-backed yield opportunities more accessible.

 The bottom line

The merger of SingularityDAO, Cogito Finance, and SelfKey to form Singularity Finance marks a pivotal moment in the tokenization of the AI economy. By integrating real-world AI assets into decentralized finance, the new platform is set to unlock significant opportunities for both institutional and retail participants, offering new liquidity channels and efficient financial tools for AI-based innovations.

If you’re interested in other potential developments in the world of AI, feel free to explore our AI sector.