- 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 major 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 revolutionary EVM Layer-2 platform designed to tokenize the AI financial system’s Actual-World Property (RWA).
This collaborative effort goals to handle 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 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.”
Options of the brand new Singularity Finance platform
Singularity Finance will function a complete answer for the AI and DeFi industries, providing a platform optimized for tokenizing AI belongings, akin to GPUs, and integrating them into present DeFi functions.
By remodeling 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 function in bringing RWAs on-chain, whereas SelfKey’s compliant id options will guarantee safe person participation.
The Singularity Finance will probably 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 combination of AI-powered monetary instruments akin to SingularityDAO’s DynaVaults, which offer AI-enhanced danger administration and portfolio optimization.
The neighborhood could have a possibility 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 present tokens—SDAO, CGV, and KEY—right into a single community token named SFI.
The token conversion will comply with predetermined ratios primarily based on a 200-day shifting common up to 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.