• SingularityDAO is merging with SelfKey and Cogito to type Singularity Finance.
• 94.7% of SDAO holders have accepted the merger, pending the ultimate vote of KEY holders.
• Singularity Finance will give attention to AI, RWA tokenization, and on-chain id.

In a landmark determination, SingularityDAO, the DeFi arm of the SingularityNET AI ecosystem answerable for decentralized portfolio administration, has voted to merge with Cogito Finance and SelfKey to type a brand new entity, Singularity Finance. This EVM Layer 2 platform will give attention to tokenizing the AI ​​economic system and accelerating the adoption of AI-powered monetary options.

The merger was accepted by an awesome 94.7% of SingularityDAO (SDAO) token holders, with over 15 million tokens in favor.

The group vote, carried out by the Snapshot Governance Platform, represents an necessary step in direction of the creation of Singularity Finance, which gives superior decentralized finance (DeFi) and synthetic intelligence (AI) options. Notably, the vote comes simply two weeks after the merger was proposed.

Mario Casiraghi, co-founder of SingularityDAO, thanked the group for its assist and stated: With their approval, we are going to now transfer ahead with a proposal to create Singularity Finance as an L2 that mixes the very best components of SingularityDAO with these of our companions SelfKey and Cogito Finance to speed up innovation in DeFi and AI. I'll go. ”

Cloris Chen, CEO of Cogito Finance, highlighted the potential of this partnership, saying, “The group's overwhelming assist for the SFI merger exhibits that we’ve a typical dedication to the way forward for finance.'' “This can be a highly effective demonstration that he has a imaginative and prescient.” By combining our experience and know-how, we’re poised to create unprecedented alternatives on the intersection of AI and DeFi. ”

The SelfKey group will vote on the merger

The merger is presently awaiting a closing vote from the SelfKey group of KEY token holders to solidify SelfKey's participation.

As soon as accepted, Singularity Finance will function a complete platform that addresses key areas of the AI ​​and DeFi ecosystem, together with real-world asset (RWA) tokenization and on-chain id administration.

This built-in strategy will improve SingularityDAO's current AI-powered portfolio administration capabilities with SelfKey's compliance capabilities and Cogito Finance's RWA tokenization answer.

Singularity Finance will probably be guided by a Management Council comprised of distinguished members together with SingularityNET CEO Dr. Ben Goertzel, Cogito Finance CEO Cloris Chen, and SingularityNET CFO Mario Casiraghi. Collectively, the 2 firms intention to pioneer revolutionary monetary providers concentrating on builders and customers within the new AI-based monetary surroundings.