SingularityDAO community approved integration with SelfKey and Cogito Finance

SingularityDAO integrates with SelfKey and Cogito to form Singularity Finance. 94.7% of SDAO holders approved the merger, pending a final vote by key holders. Single finance to focus on AI, RWA tokenization and chain identity.

In a surprising decision, SingularityDAO, the DeFi arm of SingularityNET AI ecosystem responsible for decentralized portfolio management, has voted to merge with Cogito Finance and SelfKey to form a new entity, Singularity Finance. This EVM Layer 2 platform focuses on simulating the AI ​​economy and accelerating the adoption of AI-powered financial solutions.

The merger was approved by 94.7% of SingularityDAO (SDAO) token holders, with over 15 million tokens issued.

The community vote on Snapshot's governance platform represents a significant step towards the creation of Singularity Finance, which offers advanced decentralized finance (DeFi) and artificial intelligence (AI) solutions. Notably, the vote comes two weeks after the merger proposal.

Mario Casiraghi, co-founder of SingularityDAO, expressed his gratitude for the community's support, “Thank you to all SDAO owners for participating in this important governance vote and having their say on the future of SingularityDAO. With their approval, we will continue the proposal to create Singularity Finance as L2 by combining the best elements of SingularityDAO with our partners SelfKey and Cogito Finance to accelerate DeFi and AI innovation.

Cloris Chen, CEO of Cogito Finance, highlighted the potential of the partnership, saying, “The overwhelming community support for the SFI merger is a strong demonstration of our shared vision for the future of finance. By combining our knowledge and technologies, we are ready to unlock unprecedented opportunities at the intersection of AI and DeFi.

Selfkey community is expected to vote on the merger

The merger now awaits the final vote of the SelfKey community of SelfKey token holders.

Once approved, Singularity Finance will serve as a comprehensive platform for key areas in the AI ​​and DeFi ecosystem, including real-world asset (RWA) tokenization and on-chain identity management.

This integrated approach leverages SingularityDAO's existing AI-powered portfolio management capabilities with SelfKey's compliance features and Cogito Finance's RWA tokenization solutions.

A leadership council will lead Singularity Finance, including SingularityNET CEO Dr. Ben Gorzel, Cogito Finance CEO Cloris Chen and SingularityNET CFO Mario Casiraghi. Together, they aim to pioneer innovative financial services, targeting developers and users in the evolving AI-driven financial landscape.