SDAO soars 17% as SingularityDAO unveils merger with Cogito Finance, SelfKey

SingularityDAO has partnered with Cogito Finance and SelfKey to launch a new EVM-supported layer-2 platform called Singularity Finance, designed to tokenize real-world assets for decentralized finance (DeFi). The merger aims to bridge the gap between real-world assets and DeFi applications by integrating artificial intelligence (AI) assets, such as GPUs, into the blockchain.

Key Features of Singularity Finance:

• Tokenization Framework: The platform will utilize Cogito’s tokenization technology to bring physical assets on-chain, making them accessible for decentralized markets and financial applications.
• Identity Solution: SelfKey will contribute an identity solution to the project, enabling secure user participation in decentralized finance (DeFi) markets.
• AI-Driven Tools: Leveraging SingularityDAO’s DynaVaults, Singularity Finance will integrate AI-driven financial tools that will aid in portfolio management, risk assessment, and advanced financial analysis.
• Unified Token: As part of the merger, the three existing tokens (SDAO, CGV, and KEY) will be consolidated into a single token: SFI (Singularity Finance). The SFI token will serve as the primary currency within the Singularity Finance ecosystem.
• Launch and Governance: The initial availability of SFI will be on Ethereum and BNB Chain, with the mainnet launch scheduled for the first half of 2025. The merged platform will be governed by a leadership council consisting of key executives from SingularityDAO, Cogito Finance, and SelfKey. Additionally, a community governance vote will take place from October 21 to October 31, 2024, allowing stakeholders to have a say in the platform’s future direction.

Market Response:

Following the announcement, SingularityDAO’s native token (SDAO) surged by 17%, driving its price to $0.33. This reflects positive market sentiment around the merger and the potential of the new platform.

By combining tokenization, AI, and DeFi, the Singularity Finance project aims to enhance the accessibility and functionality of decentralized finance while bridging the gap between the digital and real worlds.