SingularityDAO, SelfKey, and Cogito Finance Merge to Create Singularity Finance

Deal News | Nov 08, 2024 | EIN

SingularityDAO, SelfKey, and Cogito Finance Merge to Create Singularity Finance

SingularityDAO, SelfKey, and Cogito Finance have agreed to merge to form a new entity known as Singularity Finance, after receiving overwhelming support from their respective token holders. Over 95% of the SingularityDAO and 99.9% of SelfKey token holders voted in favor of this merger. The new company aims to combine the capabilities of existing companies to develop a Layer 2 ecosystem optimized for AI tokenization. This ambitious initiative is designed to foster AI innovation through DeFi primitives, creating opportunities to unlock greater value on the blockchain. A token swap will result in creating the SFI token for the Singularity Finance network. The leadership will consist of Dr. Ben Goertzel, who will chair a council to oversee operations, supported by Cloris Chen from Cogito Finance and Mario Casiraghi from SingularityDAO. With shared expertise, this venture aims to position itself as a leader at the intersection of AI and DeFi, while providing permissionless access to new financial opportunities.

Sectors

  • Decentralized Finance (DeFi)
  • Artificial Intelligence (AI)
  • Blockchain Technology

Geography

  • Global – The article discusses a merger and the creation of a new blockchain platform with global implications and participation from international communities.

Industry

  • Decentralized Finance (DeFi) – The merger aims to create a new Layer 2 platform which leverages DeFi primitives to innovate at the intersection of AI and finance.
  • Artificial Intelligence (AI) – Singularity Finance aims to optimize AI tokenization and explore pioneering use cases in the AI economy.
  • Blockchain Technology – The merger focuses on developing a blockchain-based Layer 2 ecosystem that integrates the partners' technologies.

Financials

  • 1 KEY = 0.1 SFI – Conversion ratio for SelfKey (KEY) tokens to the new Singularity Finance (SFI) token.
  • 1 SDAO = 8.0353 SFI – Conversion ratio for SingularityDAO (SDAO) tokens to the new Singularity Finance (SFI) token.
  • 1 CGV = 1.0890 SFI – Conversion ratio for Cogito Finance (CGV) tokens to the new Singularity Finance (SFI) token.

Participants

NameRoleTypeDescription
SingularityDAOMerging CompanyCompanyA decentralized Portfolio Management Protocol using AI-enhanced tools for crypto assets.
SelfKeyMerging CompanyCompanyA blockchain-based identity system allowing individuals and organizations to manage their digital identity.
Cogito FinanceMerging CompanyCompanyFocuses on bringing tokenized traditional assets onchain for increased liquidity, security, and transparency.
Singularity FinanceTarget CompanyCompanyThe newly formed entity following the merger of SingularityDAO, SelfKey, and Cogito Finance.
Dr. Ben GoertzelLeadershipPersonCEO of SingularityNET, leading the council overseeing Singularity Finance operations.
Cloris ChenLeadershipPersonCEO of Cogito Finance, part of the leadership team for Singularity Finance.
Mario CasiraghiLeadershipPersonCo-Founder of SingularityDAO, part of the leadership team for Singularity Finance.