- Singularity Finance, whose mainnet is deliberate to launch within the first half of 2025, will tokenize AI belongings on the EVM Layer-2 platform.
- SDAO, CGV and KEY tokens might be merged right into a single SFI token for the community.
- The SFI token will initially launch on Ethereum and BNB Chain.
In a significant step in the direction of integrating synthetic intelligence (AI) with decentralized finance (DeFi), SingularityDAO, Cogito Finance and SelfKey have introduced a strategic merger to launch Singularity Finance, an progressive EVM Layer-2 platform designed to tokenize the real-world AI economic system. World Belongings (RWA).
The aim of this collaborative effort is to deal with the challenges of possession and availability of AI belongings whereas accelerating AI-driven innovation by connecting these belongings.
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 going down within the Web3 area is going down. AI-Fi harnesses the large potential of the AI economic system by tokenizing the AI worth chain and creating unprecedented alternatives to entry, trade and monetize these belongings.”
Options of the brand new Singularity Finance platform
Singularity Finance will function an end-to-end answer for the AI and DeFi business, providing a platform optimized for tokenizing AI belongings reminiscent of GPUs and integrating them into present DeFi functions.
By reworking these historically illiquid belongings into decentralized, tradable monetary merchandise, the platform goals to allow new on-chain monetary primitives and extra environment friendly funding channels for AI innovation.
A tokenization framework developed by Cogito Finance will play a central function in bringing RWAs on-chain, whereas a SelfKey-compliant id answer will guarantee safe person participation.
Singularity Finance might be overseen by a administration board consisting of Dr. Ben Goertzel (CEO SingularityNET), Cloris Chen (CEO Cogito Finance) and Mario Casiraghi (CFO SingularityNET).
The Board will information the event of the platform, together with the combination of AI-powered monetary devices reminiscent of SingularityDAO's DynaVaults, which give AI-powered threat administration and portfolio optimization.
The group could have the chance to take part within the vote on the merger, which is scheduled for 21-31 October 2024.
The SFI token would be the native token of Singularity Finance
The merger will unite the three present tokens – SDAO, CGV and KEY – right into a single community token referred to as SFI.
Token conversion will observe predetermined ratios based mostly on the 200-day transferring common till 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 deliberate 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-driven monetary services and products.
