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SingularityDAO Plans to Merge With Cogito Finance, SelfKey to Form AI-Focused Layer-2
The three projects' tokens will consolidate into Singularity Finance (SFI).
Updated Oct 15, 2024, 11:57 a.m. Published Oct 15, 2024, 11:54 a.m.
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- SingularityDAO, Cogito Finance and SelfKey plan to merge into a combined project focused on tokenizing the artificial intelligence economy.
- SingularityNET, the protocol from which SingularityDAO emerged, completed a similar merger in June with fellow AI-focused projects Fetch.ai and Ocean Protocol.
SingularityDAO plans to merge with Cogito Finance and SelfKey to form a combined project focused on tokenizing the artificial intelligence (AI) economy.
The new entity, Singularity Finance, will provide a layer-2 network for tokenizing assets like GPUs and offer AI-powered financial tools, according to an announcement shared with CoinDesk on Tuesday.
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The planned consolidation will see SelfKey's existing token KEY become Singularity Finance's new token SFI. SingularityDAO's SDAO and Cogito's CGV will merge into SFI at ratios of 1:80.353 and 1:10.89 respectively. This process will be subject to change based on stakeholder discussions.
SingularityNET, the protocol from which SingularityDAO emerged, completed a similar merger in June with fellow AI-focused projects Fetch.ai and Ocean Protocol to form the Artificial Superintelligence Alliance token (ASI).
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