Combining the trio’s complementary applied sciences will energy a platform optimised for Artificial Intelligence tokenisation that may speed up Web3. Tokenising AI property equivalent to GPUs and integrating them into current DeFi purposes will create new onchain primitives, enabling extra environment friendly funding sources for AI-driven improvements.
Singularity Finance will convey RWAs onchain utilizing Cogito’s tokenisation framework, creating decentralised markets the place customers can simply take part with the help of SelfKey’s compliant identification resolution. Singularity’s Layer-2 will provide AI-powered monetary instruments providers that improve and automate evaluation, portfolio, and threat administration leveraging SingularityDAO’s AI-driven DynaVaults and different applied sciences.
Cogito Finance CEO Cloris Chen mentioned: “The speedy progress of the AI sector is creating important alternatives for each establishments and retail contributors. However, obstacles nonetheless exist on each the demand and provide sides, limiting broader participation within the AI financial system. By growing our personal Layer-2 resolution democratising AI-Fi, we are able to overcome these challenges and stay agile in adapting to an evolving regulatory panorama.”
SingularityDAO co-founder Mario Casiraghi added: “We stand on the intersection of AI and DeFi, the place a lot of the innovation presently happening inside the Web3 house is going on. AI-Fi harnesses the immense potential of the AI financial system by tokenising the AI worth chain, creating unprecedented alternatives to entry, alternate and monetise these property.”
As a part of the merger, the three current tokens—SDAO, CGV, and KEY—will probably be transformed right into a unified token, SFI, which is able to function the community token for Singularity Finance. Initially, the SFI token will probably be accessible on Ethereum and BNB Chain, with mainnet launched deliberate for the primary half of 2025 and with the conversion ratios between SDAO, CGV, and KEY set as follows:
- SDAO migration to SFI at a ratio of 1:80.353 (1 SDAO = 80.353 SFI)
- CGV migration to SFI at a ratio of 1:10.890 (1 CGV = 10.890 SFI)
- KEY migration to SFI at a ratio of 1:1 (1 KEY = 1 SFI)
The pricing relies on the 200 days shifting common of every token within the interval as much as twentieth August 2024.
Upon closing of the merger, a management council for Singularity Finance will probably be established to supervise and information the operations of the newly merged monetary ecosystem. The council will probably be led by Dr. Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance; Cloris Chen, CEO of Cogito Finance; and Mario Casiraghi, CFO of SingularityNET and Co-Founder of SingularityDAO. Following the merger announcement, the neighborhood could have the chance to take part in a governance vote, which is able to run from 21 to 31 October.
The merger will deal with the numerous challenges presently confronted within the possession and accessibility of AI-related property and yield. By leveraging SFI compliant tokenisation infrastructure customers will be capable to entry yield alternatives from compute and AI brokers; as well as, AI market contributors will be capable to foster further liquidity for his or her property thereby making AI and hardware-backed high-quality yield extra accessible. Singularity Finance will clear up these challenges by means of its Layer2 together with built-in authorized frameworks, distribution channels, market, and AI-driven asset administration instruments.
About SingularityDAO
SingularityDAO is a decentralised Portfolio Management Protocol designed to democratise entry to classy crypto asset administration instruments. The upcoming DynaVaults, multi-asset, multistrategy vaults leveraging AI-enhanced analytics and threat administration instruments, present the a lot wanted infrastructure within the risky world of DeFi.
About Cogito Finance
Cogito’s mission is to convey conventional property onchain for elevated liquidity, safety, and transparency. It gives a collection of carefully-engineered, totally clear, and institutional-grade funding merchandise. Led by a workforce of finance and expertise consultants, Cogito is pioneering the way forward for onchain finance.
About SelfKey
A blockchain-based identification platform that permits people and organisations to securely handle and management their digital identities, enhancing compliance with KYC necessities by means of decentralised expertise. With a workforce skilled in decentralised identification since 2014 throughout main firms, SelfKey goals to revolutionise the KYC onboarding course of by decreasing prices, enhancing safety, and upholding the rules of self-sovereign identification.
Contact
Avishay Litani
[email protected]
