- Singularity Finance, whose mainnet is scheduled to launch within the first half of 2025, will tokenize AI belongings on the EVM layer-2 platform.
- SDAO, CGV and KEY tokens shall be merged right into a unified SFI token for the community.
- The SFI token will initially launch on the Ethereum and BNB chains.
In a major step in direction of integrating synthetic intelligence (AI) with decentralized finance (DeFi), SingularityDAO, Cogito Finance and SelfKey have introduced the launch of a strategic merger. singularity financeAn progressive EVM layer-2 platform designed to tokenize Actual-World Belongings (RWAs) of the AI financial system.
This collaborative effort goals to deal with challenges in AI asset possession and entry whereas accelerating AI-powered improvements by bringing these belongings on-chain.
Mario Casiraghi, co-founder of SingularityDAO, emphasised the significance of the merger, saying, “We stand on the intersection of AI and DeFi, the place many of the innovation presently occurring inside the Web3 area is going on. AI-Fi harnesses the large potential of the AI financial 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 answer for the AI and DeFi industries, providing a custom-made platform for tokenizing AI belongings like GPUs and integrating them into present DeFi purposes.
By changing 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 Selfie’s tailor-made identification options will guarantee safe consumer participation.
Singularity Finance shall be overseen by a management council consisting of Dr. Ben Goertzel (CEO of SingularityNet), Cloris Chen (CEO of Cogito Finance), and Mario Casiraghi (CFO of SingularityNet).
The council will information the event of the platform, together with the mixing of AI-powered monetary instruments similar to SingularityDAO’s DynaVaults, which give AI-enhanced danger administration and portfolio optimization.
The group can have the chance to take part in a governance vote on the merger, scheduled for 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 referred to as SFI.
Token conversion will comply with predetermined ratios primarily based on the 200-day shifting common as of 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 the Ethereum and BNB chains, with a mainnet launch anticipated for the primary half of 2025.
The mixed experience of SingularityDAO, Cogito Finance and Selfkey goals to remodel the DeFi panorama by democratizing entry to AI-powered monetary services and products.
