As a seasoned researcher with years of experience in the dynamic world of blockchain and decentralized finance (DeFi), I find myself thoroughly intrigued by this recent announcement. The merger of SingularityDAO, SelfKey, and Cogito Finance to form Singularity Finance is indeed a game-changer.
Gros Islet, St. Lucia, November 8th, 2024, Chainwire
The collaboration between SingularityDAO, SelfKey, and Cogito Finance resulted in the formation of a new entity called Singularity Finance, following the approval from their respective communities through a merger vote. The holders of SDAO and KEY tokens showed strong support for this plan.
The merger was given the green light after receiving overwhelming approval from both the SingularityDAO (SDAO) and SelfKey communities. In the SDAO vote, over 15 million tokens were cast, with a staggering 95% in favor of the proposal. Similarly, the SelfKey community endorsed the merger unanimously, as 99.9% of KEY voters supported it.
In simple terms, SingularityDAO, SelfKey, and Cogito Finance are teaming up to develop a Layer 2 system specifically tailored for AI-based tokenization. This collaboration aims to introduce innovative DeFi (Decentralized Finance) building blocks while fostering rapid advancements in artificial intelligence technology.
As a crypto investor, I’m excited to announce that the inception of Singularity Finance is underway! A token swap is about to take place, merging all existing tokens into a unified asset, known as SFI, which will be our network’s primary token.
- KEY will convert at a ratio of 1 KEY = 0.1 SFI
- SDAO will convert at a ratio of 1 SDAO = 8.0353 SFI
- CGV will convert at a ratio of 1 CGV = 1.0890 SFI
Dr. Ben Goertzel, head of SingularityNET and the Artificial Superintelligence Alliance, will take charge of a governing body responsible for managing financial operations at SingularityNET. The team will also include Cloris Chen from Cogito Finance and Mario Casiraghi from SingularityDAO.
Mario Casiraghi, Co-Founder of SingularityDAO expressed his joy that the merger can go ahead due to the backing and votes from both the SelfKey and SingularityDAO communities. He acknowledged all SDAO and KEY holders for contributing to this significant governance decision. With their agreement, we’re now ready to advance towards establishing Singularity Finance as a Layer-2 platform that combines the abilities of SingularityDAO with our partners SelfKey and Cogito Finance, boosting innovation where DeFi and AI intersect.
Cloris Chen, head of Cogito Finance, expressed her enthusiasm for the community vote, saying: “The immense backing from SingularityDAO and SelfKey communities for the SFI merger reflects our united ambition for the future of finance. Combining our knowledge and advanced technologies, we are poised to unlock novel opportunities where AI and DeFi intersect. By fostering innovation and accessibility throughout the industry, Singularity Finance will also establish itself as a trailblazer in the burgeoning AI economy, creating a Layer 2 ecosystem that entices developers and users intrigued by groundbreaking applications and resources.
Via its Layer-2 blockchain, Singularity Finance enables on-chain assets like AI computing resources. This step eliminates entry barriers and offers unrestricted access to fresh financial possibilities. By combining the functionalities of SingularityDAO, Cogito, and SelfKey, Singularity Finance aims to lead the charge in tokenizing AI and maximizing value within the blockchain ecosystem.
About SingularityDAO
SingularityDAO represents a decentralized system for managing investment portfolios, with the goal of making advanced crypto asset management techniques accessible to everyone. The forthcoming dynavaults, which are multi-asset and multi-strategy vaults that utilize AI-boosted analytics and risk control mechanisms, will offer the essential infrastructure in the unpredictable realm of Decentralized Finance (DeFi), providing a stable foundation for users.
About Cogito Finance
Cogito’s goal is to transfer traditional assets into digital form for better liquidity, safety, and openness. They provide a range of meticulously designed, completely transparent, and high-quality investment tools. Guided by a team of finance and technology professionals, Cogito is leading the charge in shaping the future of digital finance on the blockchain.
About SelfKey
SelfKey is constructing a blockchain identity platform that lets users independently possess, regulate, and administer their digital identities. This self-governing blockchain identity system provides both individuals and businesses with increased autonomy and privacy. As a Decentralized Autonomous Organization (DAO), SelfKey gives control of identity data back to the people and corporations.
Contact
Market Across
pr@marketacross.com
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2024-11-08 11:16