SingularityDAO is ready to merge with Cogito Finance and SelfKey to type Singularity Finance, a layer-2 tokenization platform.
The transfer follows a governance vote during which the SingularityDAO (SDAO) group overwhelmingly accredited the merger proposal. Voting noticed greater than 15 million SDAO tokens forged, with 94.78% in favor of the proposal.
SingularityDAO is a decentralized platform for AI-powered digital asset administration, whereas SelfKey provides a self-sovereign digital id system, and Cogito Finance focuses on actual world asset tokenization throughout the SingularityNET ecosystem.
Tthe three platforms introduced their merger plans in October, with this coming amid studies of how mergers may drive AI and web3 adoption.
With the merger proposal accredited, Cogito Finance, SelfKey, and SingularityDAO have the go-ahead to type Singularity Finance, a brand new EVM layer-2 platform for the tokenization of the AI financial system.
Mario Casiraghi, co-founder of SingularityDAO, famous that SDAO holders’ approval of the merger is pivotal for DeFi and AI innovation. Singularity Finance, as a layer-2 community, will incorporate applied sciences from SingularityDAO, SelfKey, and Cogito Finance, Casiraghi added.
Along with SelfKey’s compliance options and Cogito Finance’s RWA tokenization service, Singularity Finance will function monetary instruments for automated evaluation and danger administration, leveraging SingularityDAO’s applied sciences.
Singularity Finance goals to help varied AI-driven monetary providers, together with real-world asset tokenization and on-chain id administration. The layer-2 platform intends to place itself as a number one platform for builders and customers within the rising AI financial system, in response to a SingularityDAO press launch despatched to crypto.information.
“By combining our expertise and technologies, we are poised to unlock unprecedented opportunities at the intersection of AI and DeFi. Singularity Finance will be a leading force in driving innovation and accessibility in this dynamic landscape, empowering individuals and institutions alike.”
Cloris Chen, CEO of Cogito Finance.
Dr. Ben Goertzel, CEO of SingularityNET and the Synthetic Superintelligence Alliance, will lead a council overseeing Singularity Finance operations. The workforce can even embody Cogito Finance’s Cloris Chen and SingularityDAO’s Mario Casiraghi.
