SingularityDAO Community Greenlights Merger with Cogito and SelfKey

SingularityDAO has completed a community vote on its planned merger with Cogito Finance and SelfKey. SingularityDAO was able to go forward with plans to create Singularity Finance, an EVM Layer 2 for tokenizing the AI economy, after SDAO holders unanimously approved the merger.

The popular governance framework, Snapshot, was used to present the proposal to SDAO holders to merge with Cogito Finance and SelfKey and combine technologies to establish Singularity Finance. 94.78% of the tokens used in the voting procedure, which included more than 15 million SDAO, approved the merger.

SingularityDAO Co-Founder Mario Casiraghi said:

“We’re grateful to all SDAO holders for participating in this pivotal governance vote and having their say on the future of SingularityDAO. With their approval, we will now move ahead with the proposal to create Singularity Finance as an L2 that combines the best elements of SingularityDAO with those of our partners SelfKey and Cogito Finance to accelerate DeFi and AI innovation.”

SingularityDAO is ready to go forward with the merger after the governance vote, pending an upcoming community vote on behalf of KEY holders that will decide SelfKey’s stance. The three initiatives would be able to coordinate to provide solutions for every phase of the Artificial Intelligence (AI) value chain with the establishment of Singularity Finance.

RWA tokenization and onchain identity management are two examples of the AI-driven financial services that Singularity Finance was conceived to serve. The Layer 2 will draw developers and users who want to learn more about the new use cases and assets the industry supports by establishing itself as a leader in the quickly expanding AI economy.

Cloris Chen, CEO of Cogito Finance, shared in a quote:

“The overwhelming community support for the SFI merger is a powerful testament to the shared vision we have for the future of finance. By combining our expertise and technologies, we are poised to unlock unprecedented opportunities at the intersection of AI and DeFi. Singularity Finance will be a leading force in driving innovation and accessibility in this dynamic landscape, empowering individuals and institutions alike.”

The integration of compliance and RWA tokenization solutions, provided by SelfKey and Cogito Finance, respectively, will improve the AI-powered portfolio management services that SingularityDAO already offers. Using SingularityDAO’s AI-powered DynaVaults and other technologies, these financial tools will improve and automate analysis, portfolio, and risk management.

A leadership council for Singularity Finance will be formed as a result of the planned merger to supervise the operations of the combined financial ecosystem. Mario Casiraghi, CFO of SingularityNET and Co-Founder of SingularityDAO; Cloris Chen, CEO of Cogito Finance; and Dr. Ben Goertzel, CEO of SingularityNET and the Artificial Superintelligence Alliance, will serve as the council’s leaders.​