As a seasoned crypto investor with a knack for spotting promising projects, I find the proposed merger of SelfKey, SingularityDAO (SDAO), and Cogito Finance to form Singularity Finance particularly intriguing. My first encounter with blockchain was back in 2014, when the technology was still in its infancy, and I’ve been hooked ever since.
SelfKey, a decentralized identity service, announces it is holding a community vote to decide on its potential merger with SingularityDAO (SDAO) and Cogito Finance. If approved, these three entities could combine to form Singularity Finance, a layer 2 platform specialized in tokenizing artificial intelligence assets.
KEY holders to vote on crucial referendum: Details
In simpler terms, SelfKey, a platform specializing in decentralized identity applications, recently disclosed information about an upcoming community vote concerning the potential merger between SingularityDAO (SDAO) and Cogito Finance. This SelfKey vote, slated to begin on November 1, 2024, enables its users to voice their opinions regarding the previously proposed merger.
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— SelfKey (@SelfKey) October 17, 2024
The voting period ends on November 7th, mirroring an earlier announcement for members of the SDAO community. As the name suggests, the snapshot vote will capture KEY token holders at the start of the voting process (November 1st). Therefore, it’s essential to ensure that your account contains sufficient KEY tokens prior to this date if you wish to participate.
Regardless of the amount they hold, every KEY holder will have the opportunity to join the SelfKey vote, influencing the direction of the project as it considers joining forces with SingularityDAO and Cogito Finance.
The suggested fusion will empower SelfKey to take a crucial part in enhancing sophisticated Artificial Intelligence and blockchain technologies under the name Singularity Finance. In this union, KEY token holders would exchange their tokens for the unified asset, SFI, which functions as the native token within the layer 2 platform.
Strategic alliance and token merger might be approved
By integrating an EVM layer-2 network with technologies from SDAO, Cogito Finance, and SelfKey, Singularity Finance intends to establish a compliant environment for tokenized Real-World Assets (RWAs). This strategic move places these three entities at the vanguard of efforts to tokenize real-world assets, particularly focusing on the AI economy.
By drawing upon the respective strengths of SelfKey, SingularityDAO and Cogito Finance, Singularity Finance intends to democratize access to AI assets. Its proposed L2 and RWA ecosystem will be enhanced by advanced AI-driven financial services while ensuring compliance and security through SelfKey’s best-in-class self-sovereign identity solution.
The upcoming SelfKey public vote will utilize the Snapshot tool, making it possible for all KEY token owners to cast their votes. These token holders can either choose to approve the proposal, decline it, or decide not to participate in the voting process at all.
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2024-10-29 19:17