- Singularity Finance, whose mainnet is slated for launch within the first half of 2025, will tokenize AI belongings on an EVM Layer-2 platform.
- SDAO, CGV, and KEY tokens will merge right into a unified SFI token for the community.
- The SFI token will initially launch on Ethereum and BNB Chain.
In a big transfer to combine synthetic intelligence (AI) with decentralized finance (DeFi), SingularityDAO, Cogito Finance, and SelfKey have introduced a strategic merger to launch Singularity Finance, an modern EVM Layer-2 platform designed to tokenize the AI economic system’s Actual-World Belongings (RWA).
This collaborative effort goals to deal with challenges in AI asset possession and accessibility whereas accelerating AI-driven improvements by bringing these belongings on-chain.
Mario Casiraghi, co-founder of SingularityDAO, emphasised the importance of the merger, stating, “We stand on the intersection of AI and DeFi, the place a lot of the innovation presently happening inside the Web3 area is going on. AI-Fi harnesses the immense potential of the AI economic system by tokenizing the AI worth chain, creating unprecedented alternatives to entry, change, and monetize these belongings.”
Options of the brand new Singularity Finance platform
Singularity Finance will function a complete resolution for the AI and DeFi industries, providing a platform optimized for tokenizing AI belongings, reminiscent of GPUs, and integrating them into current DeFi purposes.
By reworking these historically illiquid belongings into decentralized, tradable monetary merchandise, the platform seeks to allow new on-chain monetary primitives and extra environment friendly funding channels for AI improvements.
The tokenization framework developed by Cogito Finance will play a central position in bringing RWAs on-chain, whereas SelfKey’s compliant identification options will guarantee safe person participation.
The Singularity Finance might be overseen by a management council comprising Dr. Ben Goertzel (CEO of SingularityNET), Cloris Chen (CEO of Cogito Finance), and Mario Casiraghi (CFO of SingularityNET).
The council will information the platform’s evolution, together with the mixing of AI-powered monetary instruments reminiscent of SingularityDAO’s DynaVaults, which give AI-enhanced danger administration and portfolio optimization.
The group may have a chance to take part in a governance vote on the merger, scheduled from October 21-31, 2024.
SFI token would be the native token of Singularity Finance
The merger will unify three current tokens—SDAO, CGV, and KEY—right into a single community token named SFI.
The token conversion will observe predetermined ratios primarily based on a 200-day shifting common as much as August 20, 2024: SDAO will convert to SFI at 1:80.353, CGV at 1:10.890, and KEY at a 1:1 ratio.
The SFI token will initially launch on Ethereum and BNB Chain, with a mainnet launch slated for the primary half of 2025.
The mixed experience of SingularityDAO, Cogito Finance, and SelfKey goals to rework the DeFi panorama by democratizing entry to AI-driven monetary services and products.
