SingularityDAO Merges Tokens to Launch AI-Driven Singularity Finance

SingularityDAO has announced a token merger with Cogito Finance and SelfKey, forming a new entity called Singularity Finance (SFI). The goal of this collaboration is to tokenize real-world assets (RWAs) in the AI economy and integrate them into decentralized finance (DeFi) infrastructure, marking a major step forward for AI-Fi, the intersection of AI and DeFi. Following the news, SingularityDAO’s SDAO token saw a notable spike, further highlighting its central role in the new venture.

Singularity Finance will be an Ethereum Virtual Machine (EVM) Layer-2 protocol, focusing on building infrastructure to tokenize AI-related assets and connect them with the broader DeFi ecosystem. This merger consolidates the expertise of SingularityDAO, Cogito Finance, and SelfKey to create a comprehensive platform for the growing AI economy. Each company’s token will be converted into SFI, which will serve as the network token for Singularity Finance.

SingularityDAO co-founder Mario Casiraghi emphasized the importance of merging AI and DeFi, stating that this is where much of the innovation in Web3 is happening. AI-Fi leverages the potential of AI by tokenizing its value chain, creating new ways to access, exchange, and monetize these assets.

Each partner’s token will have a unique conversion rate into SFI. For example, SelfKey’s KEY will transfer at a 1:1 ratio, while Cogito Finance’s CGV will convert at a slightly over 1:10 ratio. SingularityDAO’s SDAO will convert at over 80 SFI per unit, reflecting the relative valuations of the merging tokens. While SDAO’s price initially surged following the announcement, much of those gains were later lost.

The new protocol will be overseen by a three-member leadership council, with two seats reserved for employees from SingularityNET and SingularityDAO. This leadership structure will guide the platform as it seeks to build infrastructure for tokenizing AI-related assets and further expanding the DeFi landscape.

In the long term, Singularity Finance aims to increase access to AI-related investments and lay the groundwork for a new type of digital economy. By merging AI and DeFi, the platform hopes to open up lucrative markets for both consumers and institutional investors, making AI a more accessible and monetizable asset class.