SingularityDAO merges with Cogito Finance and SelfKey following community approval

The new entity will use a new token, SFI, to represent ownership in the platform.

Key Takeaways

SingularityDAO merges with Cogito Finance and SelfKey to form Singularity Finance. The merger enhances SingularityDAO's AI portfolio management with SelfKey and Cogito's RWA tokenization and identity solutions. <?xml encoding="UTF-8"?>

SingularityDAO token holders have approved a merger with Cogito Finance and SelfKey to form Singularity Finance, an EVM layer 2 platform focused on tokenizing the AI economy.

The move comes after SingularityDAO announced last month it would join forces with Cogito Finance and SelfKey to form the AI-focused L2 platform, with a consolidated new token, SFI.

The community vote, conducted through the Snapshot governance framework, saw more than 15 million SDAO tokens participating, with 94.7% approving the merger proposal.

“We’re grateful to all SDAO holders for participating in this pivotal governance vote and having their say on the future of SingularityDAO,” said Mario Casiraghi, SingularityDAO Co-Founder. “With their approval, we will now move ahead with the proposal to create Singularity Finance as an L2 that combines the best elements of SingularityDAO with those of our partners SelfKey and Cogito Finance to accelerate DeFi and AI innovation.”

The merger’s completion now awaits a community vote from SelfKey’s KEY token holders. The combined entity aims to develop solutions across the Artificial Intelligence value chain, including RWA tokenization and on-chain identity management.

Cloris Chen, CEO of Cogito Finance, said:

“The overwhelming community support for the SFI merger is a powerful testament to the shared vision we have for the future of finance. By combining our expertise and technologies, we are poised to unlock unprecedented opportunities at the intersection of AI and DeFi.”

The new organization will enhance SingularityDAO’s existing AI-powered portfolio management services with compliance and RWA tokenization solutions from SelfKey and Cogito Finance.

Singularity Finance will be led by a leadership council, including Dr. Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance; Cloris Chen, CEO of Cogito Finance; and Mario Casiraghi, CFO of SingularityNET.

Disclaimer