SingularityDAO Approves Merger With Cogito Finance And SelfKey Following SDAO Community Vote
In Brief
SingularityDAO will merge with Cogito Finance and SelfKey to establish Singularity Finance, an EVM Layer 2 solution for tokenizing the AI economy.
Decentralized portfolio management protocol SingularityDAO announced the completion of a community vote regarding its proposed merger with Cogito Finance and SelfKey. SDAO holders voted decisively in favor of the merger, allowing SingularityDAO to move forward with its plans to establish Singularity Finance, an Ethereum Virtual Machine (EVM) Layer 2 solution designed for tokenizing the AI economy.
“We’re grateful to all SDAO holders for participating in this pivotal governance vote and having their say on the future of SingularityDAO,” said SingularityDAO Co-Founder Mario Casiraghi in a written statement. “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,” he added.
The proposal to merge with Cogito Finance and SelfKey and integrate technologies to establish Singularity Finance was presented to SDAO holders through the Snapshot governance framework. Over 15 million SDAO tokens were cast in the voting process, with 94.78% of the tokens supporting the merger.
Following the governance vote, SingularityDAO is prepared to move forward with the merger, contingent upon an upcoming community vote by KEY holders that will decide SelfKey’s involvement. The establishment of Singularity Finance will allow the three projects to collaborate in developing solutions across various stages of the AI value chain.
New Partnership To Enhance SingularityDAO’s AI-Powered Portfolio Management Services
Singularity Finance has been developed to provide a range of AI-driven financial services, including real-world asset (RWA) tokenization and on-chain identity management. By positioning itself as a leader in the growing AI economy, this Layer 2 solution aims to attract developers and users interested in exploring new use cases and assets that the industry offers.
The existing AI-powered portfolio management services offered by SingularityDAO will be enhanced through the integration of compliance and RWA tokenization solutions provided by SelfKey and Cogito Finance, respectively. This enhancement will introduce financial tools that improve and automate analysis, as well as portfolio and risk management, utilizing SingularityDAO’s AI-driven DynaVaults and other technologies.
The proposed merger will establish a leadership council for Singularity Finance to oversee the operations of the newly merged financial ecosystem. This council will be chaired by Dr. Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance, Cloris Chen, CEO of Cogito Finance, and Mario Casiraghi, CFO of SingularityNET and Co-Founder of SingularityDAO.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
