SingularityDAO, Cogito Finance, and SelfKey Merge Tokens to Launch Singularity Finance, an EVM Layer-2 Solution for Tokenizing the AI Economy's Real World Assets

This collaboration aims to address the challenges of AI in the tokenization of RWAs, with the unified token, SFI, serving as the economic backbone

SingularityDAO, Cogito Finance, and SelfKey have joined forces to create Singularity Finance, an EVM Layer-2 solution that will integrate artificial intelligence (AI) and tokenized real-world assets (RWAs) on Ethereum-like blockchains.

The new venture will see each team's technology converge to advance Web3's progression by tokenizing AI assets, such as GPUs, and integrating them into decentralized finance (DeFi) applications. This alliance aims to push both the AI and DeFi sectors forward.

Co-founder of SingularityDAO, Mario Casiraghi, highlighted the significance of this collaboration, stating, “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.”

As part of this merger, the existing tokens (SDAO, CGV, and KEY) will be converted into the new SFI token, which will serve as the core utility and governance token for Singularity Finance. The conversion ratios are as follows: SDAO at 1:80.353, CGV at 1:10.890, and KEY at 1:1. Initially, SFI will launch on Ethereum and BNB Smart Chain, with plans to release on the mainnet in 2025.

A leadership council, headed by Dr. Ben Goertzel and Cloris Chen, among others, will guide the operations of this 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.