SingularityDAO is poised to join forces with Cogito Finance and SelfKey, culminating in the creation of Singularity Finance, a cutting-edge layer-2 platform dedicated to tokenization. This strategic initiative follows a decisive governance vote where the community of SingularityDAO (SDAO) overwhelmingly endorsed the merger proposal. A total of over 15 million SDAO tokens were cast in the voting process, with an impressive 94.78% in favor.
SingularityDAO operates as a decentralized platform specializing in AI-driven digital asset management. In contrast, SelfKey provides a self-sovereign digital identity framework, while Cogito Finance is committed to the tokenization of real-world assets within the SingularityNET ecosystem. The announcement of their merger plans took place in October, coinciding with discussions on how such collaborations could enhance the adoption of AI and Web3 technologies.
With the merger now officially approved, Cogito Finance, SelfKey, and SingularityDAO are set to establish Singularity Finance, a novel EVM layer-2 platform designed for the tokenization of the AI economy. Mario Casiraghi, co-founder of SingularityDAO, emphasized the significance of SDAO holders’ endorsement of the merger as a crucial step forward for innovation in both DeFi and AI. He further explained that Singularity Finance will harness the collective technologies of SingularityDAO, SelfKey, and Cogito Finance as a layer-2 network.
Incorporating SelfKey’s compliance solutions alongside Cogito Finance’s real-world asset tokenization services, Singularity Finance will also provide advanced financial tools for automated analysis and risk management, building on SingularityDAO’s technological foundation. The platform aims to facilitate a variety of AI-powered financial services, including the tokenization of real-world assets and on-chain identity management. According to a press release from SingularityDAO, the layer-2 platform seeks to emerge as a premier destination for developers and users engaged in the burgeoning AI economy.
Leading the initiative will be Dr. Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance, who will head a council overseeing the operations of Singularity Finance. The council will also feature Cloris Chen from Cogito Finance and Mario Casiraghi from SingularityDAO.