SingularityDAO, SelfKey, and Cogito Finance Unite to Launch Singularity Finance Following Community Vote
The post SingularityDAO, SelfKey, and Cogito Finance Unite to Launch Singularity Finance Following Community Vote appeared on BitcoinEthereumNews.com.
Key highlights: SingularityDAO, SelfKey, and Cogito Finance merge to create Singularity Finance, backed by strong community support. The merger enables a token swap to create SFI, a unified asset fueling the new platform. Singularity Finance aims to advance AI tokenization and broaden access to decentralized finance on a Layer 2 blockchain. A strategic union to advance DeFi and AI In a groundbreaking move for the blockchain sector, SingularityDAO, SelfKey, and Cogito Finance have officially merged to form Singularity Finance. This merger was announced on October 15th and is now confirmed, following overwhelming community support. The decision, marked by a significant governance vote, is set to redefine the landscape of decentralized finance (DeFi) and AI applications by combining the strengths of these three influential entities. SELFKEY Merge Read our announcement about our strategic token merge with @SingularityDAO and @CogitoFi to launch Singularity Finance! An EVM Layer-2 for tokenising the AI economy’s Real World Assets (RWA) Full article here 👉https://t.co/zpzJI8YtBC pic.twitter.com/sATwrQnMUE — SelfKey (@SelfKey) October 15, 2024 The merger was solidified after governance votes within the SingularityDAO and SelfKey communities. More than 15 million SDAO tokens participated in the decision, with 95% supporting the motion, while 99.9% of KEY token holders also approved the proposal. This strong consensus underscores shared confidence in the collective vision behind Singularity Finance. Details on the token swap With the merger now confirmed, preparations are underway for a token swap that will streamline assets into a single network token, SFI. Conversion rates for existing tokens have been set as follows: KEY: 1 KEY = 0.1 SFI SDAO: 1 SDAO = 8.0353 SFI CGV: 1 CGV = 1.0890 SFI This consolidation will simplify user engagement with the platform, centralizing value and governance within Singularity Finance. What each entity brings to the table SingularityDAO – A leader in decentralized…
Filed under: News - @ November 8, 2024 10:23 am