The merger follows a governance vote in which the SingularityDAO community approved the proposal. Of more than 15 million SDAO tokens cast, 95% backed the motion. The SelfKey community also approved the merger through a community vote that resulted in 99.9% of KEY voters giving it their support.
The creation of Singularity Finance will now be initiated and a token swap will occur to create a single asset, SFI, which will serve as the network token.CGV will convert at a ratio of 1 CGV=1.0890 SFI Mario Casiraghi, Co-Founder SingularityDAO said: “We’re delighted that the merger can proceed thanks to the support and votes from both the SelfKey and SingularityDAO communities. We’re grateful to all SDAO and KEY holders for participating in this pivotal governance decision.
Through its Layer-2 blockchain, Singularity Finance will support onchain assets such as AI compute, reducing barriers to entry and providing permissionless access to new financial opportunities. By uniting the capabilities of SingularityDAO, Cogito, and SelfKey, Singularity Finance will position itself at the vanguard of the movement to tokenize AI and unlock greater onchain value.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SingularityDAO, Cogito Finance and SelfKey Plan to Merge into AI Tokenization ProjectSingularityDAO, Cogito Finance, and SelfKey announced plans to merge into a new entity called Singularity Finance, focused on tokenizing assets within the artificial intelligence (AI) economy. The combined project will offer a layer-2 network for tokenizing assets like GPUs and AI-powered financial tools.
Source: CoinDesk - 🏆 291. / 63 Read more »
SingularityDAO, Cogito Finance, Selfkey Announce AI Alliance: DetailsSingularityDAO, Cogito Finance and SelfKey share details of upcoming token merger, introduce SFI coin
Source: Utoday_en - 🏆 295. / 63 Read more »
SingularityDAO, Cogito Finance, and SelfKey Merge to Build the Foundation for the Tokenised AI EconomyCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »
SelfKey Launches Community Referendum on Potential Merger: DetailsSelfKey (KEY) community will determine solution to merger with SingularityDAO and Cogito Finance
Source: Utoday_en - 🏆 295. / 63 Read more »
Yellen says isolationism 'made America and the world worse off' in speech to global finance leadersTreasury Secretary Janet Yellen is telling world financial leaders that the U.S. economy has grown stronger because the Biden administration rejected isolationism, offering a barely veiled criticism of former President Donald Trump’s policies two weeks before the U.S. election.
Source: AP - 🏆 728. / 51 Read more »
Yellen says isolationism 'made America and the world worse off' in speech to global finance leadersTreasury Secretary Janet Yellen is telling world financial leaders that the U.S. economy has grown stronger because the Biden administration rejected isolationism, offering a barely veiled criticism of former President Donald Trump’s policies two weeks before the U.S. election.
Source: ksatnews - 🏆 442. / 53 Read more »