- The Singularity Finance merger aims to integrate AI and tokenized real-world assets (RWAs) into DeFi, creating new opportunities in Web3.
- The unified SFI token will serve as the economic backbone, accelerating the convergence of AI and blockchain innovation.
Following recent developments, SingularityDAO, Cogito Finance, and SelfKey have announced a strategic token merger to launch Singularity Finance, as shared in a CNF update. This will be an EVM Layer-2 solution for tokenizing the AI economy’s Real World Assets (RWA).
The announcement revealed a strategic merger to create Singularity Finance, a new EVM Layer-2 solution focused on integrating artificial intelligence (AI) and tokenized real-world assets (RWAs) on Ethereum-like blockchains. This collaboration aims to address the challenges of AI in the tokenization of RWAs, with the unified token, SFI, serving as the economic backbone of the new ecosystem.
The merger combines each team’s complementary technologies, with Singularity Finance aiming to accelerate Web3’s progress by tokenizing AI assets like GPUs and integrating them into decentralized finance (DeFi) applications. Mario Casiraghi, co-founder of SingularityDAO, emphasized the importance of this alliance, highlighting its role in advancing both the AI and DeFi sectors. He stated:
We stand at the intersection of AI and DeFi, where much of the innovation currently taking place within the Web3 space is occurring. AI-Fi harnesses the immense potential of the AI economy by tokenizing the AI value chain, creating unprecedented opportunities to access, exchange, and monetize these assets.
Token Merger and Future Developments
As part of this merger, the existing tokens SDAO, CGV, and KEY will be converted into SFI, which will function as the core utility and governance token of Singularity Finance. The conversion ratios have been set: SDAO at 1:80.353, CGV at 1:10.890, and KEY at 1:1. SFI will initially launch on Ethereum and BNB Smart Chain, with plans to release on the mainnet in 2025.
Additionally, a leadership council, led by prominent figures like Dr. Ben Goertzel and Cloris Chen, will guide the operations of the newly established financial ecosystem. Through this strategic alliance, Singularity Finance aims to bring RWAs on-chain, offering AI-powered financial tools for analysis, risk management, and more, revolutionizing both the AI and blockchain industries.