🌎 SingularityDAO, Cogito Finance, SelfKey Launch New DeFi Platform

SingularityDAO has partnered with Cogito Finance and SelfKey to develop a new EVM layer-2 platform aimed at tokenizing real-world assets for decentralized finance (DeFi).

SingularityDAO Merges with Cogito Finance and SelfKey

The decentralized autonomous organization SingularityDAO (SDAO) is merging with Cogito Finance and SelfKey to create a unified solution focused on tokenizing real-world assets. This initiative, named Singularity Finance, will operate as an EVM-supported layer-2 network, aiming to facilitate the tokenization of artificial intelligence assets, such as GPUs, and enhance existing DeFi applications.

Tokenization Framework and Identity Solutions

The layer-2 solution plans to utilize Cogito’s tokenization framework to bring real-world assets on-chain. Alongside this, SelfKey will provide an identity solution to enable user participation in decentralized markets. The platform aims to offer AI-driven financial tools to improve analysis, portfolio management, and risk assessment by leveraging SingularityDAO’s existing DynaVaults.

Introduction of a New Token

As part of the merger, the existing tokens—SDAO, CGV, and KEY—will be converted into a unified token, SFI. This new token will serve as the primary token for Singularity Finance. Initially, SFI will be available on Ethereum and BNB Chain, with the mainnet launch expected in the first half of 2025. Following the announcement, SingularityDAO’s native token SDAO saw a 17% surge, raising its price to $0.33.

Governance and Future Direction

The merged ecosystem will be governed by a leadership council, including key executives from the three companies. A community governance vote is scheduled from Oct. 21 to Oct. 31, allowing stakeholders to decide the future direction of the platform and its operations.