SingularityDAO, SelfKey, and Cogito Finance Merge to Create Singularity Finance
Deal News | Nov 08, 2024 | EIN

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
| Name | Role | Type | Description |
|---|---|---|---|
| SingularityDAO | Merging Company | Company | A decentralized Portfolio Management Protocol using AI-enhanced tools for crypto assets. |
| SelfKey | Merging Company | Company | A blockchain-based identity system allowing individuals and organizations to manage their digital identity. |
| Cogito Finance | Merging Company | Company | Focuses on bringing tokenized traditional assets onchain for increased liquidity, security, and transparency. |
| Singularity Finance | Target Company | Company | The newly formed entity following the merger of SingularityDAO, SelfKey, and Cogito Finance. |
| Dr. Ben Goertzel | Leadership | Person | CEO of SingularityNET, leading the council overseeing Singularity Finance operations. |
| Cloris Chen | Leadership | Person | CEO of Cogito Finance, part of the leadership team for Singularity Finance. |
| Mario Casiraghi | Leadership | Person | Co-Founder of SingularityDAO, part of the leadership team for Singularity Finance. |