SingularityDAO to merge with Cogito Finance and SelfKey following community approval

SingularityDAO is poised to merge with Cogito Finance and SelfKey, resulting in the creation of Singularity Finance, a new layer-2 tokenization platform. This strategic decision comes after a successful governance vote, in which the SingularityDAO (SDAO) community overwhelmingly endorsed the merger proposal. Over 15 million SDAO tokens were cast during the voting process, with an impressive 94.78% in favor.

SingularityDAO operates as a decentralized platform specializing in AI-driven digital asset management, while SelfKey provides a self-sovereign digital identity framework. Meanwhile, Cogito Finance focuses on tokenizing real-world assets within the SingularityNET ecosystem. The announcement of their merger plans in October aligns with growing discussions about how such collaborations could accelerate the adoption of AI and Web3 technologies.

With the merger officially approved, the three platforms are set to establish Singularity Finance, a new EVM-compatible layer-2 platform dedicated to the tokenization of the AI economy. Mario Casiraghi, co-founder of SingularityDAO, emphasized that the endorsement from SDAO holders is crucial for driving innovation in DeFi and AI. He explained that Singularity Finance will integrate technologies from all three entities—SingularityDAO, SelfKey, and Cogito Finance.

Incorporating SelfKey’s compliance solutions and Cogito Finance’s real-world asset tokenization services, Singularity Finance will also offer advanced financial tools for automated analysis and risk management, leveraging the technological expertise of SingularityDAO. The platform aspires to facilitate a range of AI-driven financial services, including the tokenization of real-world assets and on-chain identity management.

According to a press release from SingularityDAO sent to PINETBOX.COM, Singularity Finance aims to position itself as a premier platform for developers and users navigating the expanding AI economy.

“By combining our expertise and technologies, we are poised to unlock unprecedented opportunities at the intersection of AI and DeFi. Singularity Finance will be a leading force in driving innovation and accessibility in this dynamic landscape, empowering individuals and institutions alike.”

Cloris Chen, CEO of Cogito Finance.

Dr. Ben Goertzel, the CEO of SingularityNET and the Artificial Superintelligence Alliance, will head a council responsible for overseeing the operations of Singularity Finance. Joining him on this team will be Cloris Chen from Cogito Finance and Mario Casiraghi from SingularityDAO.