SingularityDAO Merges SDAO & KEY to Power AI Economy with Real-World Assetsđ: Will Singularity Finance (SFI) Become The Future of AI and DeFi?
SingularityDAO has announced a major token merger with Cogito Finance and SelfKey to form Singularity Finance (SFI), a new Layer-2 Ethereum solution. This merger aims to tokenize real-world assets (RWAs) from the AI economy and build decentralized finance (DeFi) infrastructure.
Following the announcement, SingularityDAOâs SDAO token saw a significant price spike.
SingularityDAO, an AI-powered DeFi protocol, has teamed up with Cogito Finance and blockchain identity provider SelfKey to create Singularity Finance. This new protocol will focus on tokenizing the AI economy and developing the infrastructure needed to integrate AI-related assets into the DeFi space.
The merger will consolidate the partnersâ tokens into a single asset, SFI, which will be used as the network token for Singularity Finance. SingularityDAO co-founder Mario Casiraghi emphasized the potential of this move, stating, "We are at the crossroads of AI and DeFi, unlocking new opportunities to access and monetize AI-powered assets."
Each partnerâs token will convert to SFI at different rates based on their valuations. SelfKeyâs KEY will exchange 1:1, while Cogito Financeâs CGV will convert at just over 1:10. SingularityDAOâs SDAO token, however, will exchange for over 80 SFI units.
While SDAO initially surged on the news, much of the gains were later lost.
Singularity Finance plans to make AI assets more accessible and create a robust DeFi ecosystem for the AI economy. With a leadership council consisting of SingularityNET and SingularityDAO employees, the project aims to build a strong foundation for AI-related investments, tapping into the fast-growing market of tokenized real-world assets.
