SingularityDAO, Cogito Finance, and SelfKey Merge to Build the Foundation for the Tokenised AI Economy

SingularityDAO, Cogito Finance, and SelfKey have announced a strategic token merger to launch Singularity Finance, an EVM Layer-2 for tokenising the AI economy’s Real World Assets .

Cogito Finance CEO Cloris Chen said: “The rapid growth of the AI sector is creating significant opportunities for both institutions and retail participants. However, barriers still exist on both the demand and supply sides, limiting broader participation in the AI economy. By developing our own Layer-2 solution democratising AI-Fi, we can overcome these challenges and remain agile in adapting to an evolving regulatory landscape.

As part of the merger, the three existing tokens—SDAO, CGV, and KEY—will be converted into a unified token, SFI, which will serve as the network token for Singularity Finance. Initially, the SFI token will be available on Ethereum and BNB Chain, with mainnet released planned for the first half of 2025 and with the conversion ratios between SDAO, CGV, and KEY set as follows:CGV migration to SFI at a ratio of 1:10.

The merger will address the significant challenges currently faced in the ownership and accessibility of AI-related assets and yield. By leveraging SFI compliant tokenisation infrastructure users will be able to access yield opportunities from compute and AI agents; in addition, AI market participants will be able to foster extra liquidity for their assets thereby making AI and hardware-backed high-quality yield more accessible.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom 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 »

India's Bajaj Housing Finance sees shares more than double on debut after stellar IPOThe company's shares surged to as much as 161 rupees apiece, jumping about 130% from the top end of its IPO pricing of 70 rupees.
Source: CNBC - 🏆 12. / 72 Read more »

Bajaj Housing Finance Shares Surge Over 130% On Market DebutShares of India's Bajaj Housing Finance more than doubled on their market debut Monday, surging as much as 161 rupees apiece, jumping about 130% from the top end of their IPO pricing. The company raised $781 million in its blockbuster IPO last week, valuing it at $7 billion.
Source: CNBC - 🏆 12. / 72 Read more »

Federal Probe Focuses on New York Mayor Eric Adams and Potential Campaign Finance ViolationsA federal investigation into potential corruption at City Hall has expanded to include New York City Mayor Eric Adams. Authorities are examining whether Adams' campaign received illegal foreign donations from Turkey through a Brooklyn construction company.
Source: ABC7Chicago - 🏆 284. / 63 Read more »

UK Finance, Member Banks See Benefits During Experimental Phase of a Tokenization, CBDC PlatformCamomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.
Source: CoinDesk - 🏆 291. / 63 Read more »