SelfKey Announces Community Vote on Proposed Merger With SingularityDAO and Cogito Finance to Form Singularity Finance
Kingstown, Saint Vincent and the Grenadines, October 29th, 2024, Chainwire
Decentralised identity platform SelfKey has announced a community vote to determine its proposed merger with SingularityDAO (SDAO) and Cogito Finance. If approved, SelfKey will merge to become Singularity Finance, a Layer 2 for tokenizing AI assets.
The SelfKey vote will open on November 1, giving its community an opportunity to have their say in the merger that has already been tabled. The vote will close on November 7. It follows a similar initiative that was put to the SDAO community. The snapshot vote, as its name suggests, will take a snapshot of KEY token holders on the day when the Vote begins (November 1), so make sure you have KEY in your wallet before this date in order to participate.
All KEY holders are able to participate in the SelfKey vote and determine the future of the project and its merger with SingularityDAO and Cogito Finance. The proposed merger would enable SelfKey to play a pivotal role in supporting advanced AI and blockchain technologies as Singularity Finance, and we invite the community to share their valuable input on this important step. A corresponding token merger would see KEY holders swap their tokens for the new unified asset, SFI, used as the native token of the Layer 2.
Through combining an EVM Layer 2 network with the technologies developed by SDAO, Cogito Finance, and SelfKey, Singularity Finance aims to create a compliant ecosystem for tokenised RWAs. This will position the three entities at the forefront of the drive to tokenise real-world assets with a particular focus on the AI economy.
By drawing upon the respective strengths of SelfKey, SingularityDAO, and Cogito Finance, Singularity Finance intends to democratise 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 SelfKey public vote will be conducted using the Snapshot platform, enabling all KEY holders to participate. Token holders have the option of voting to approve the proposal; voting to reject it; or to abstain from the vote altogether. The vote forms a critical phase in the proposed merger, empowering the SelfKey community to shape the future of the identity platform and the creation of Singularity Finance.
About SelfKey
A blockchain-based identity platform that enables individuals and organisations to securely manage and control their digital identities, enhancing compliance with KYC requirements through decentralised technology. With a team experienced in decentralised identity since 2014 across major companies, SelfKey aims to revolutionise the KYC onboarding process by lowering costs, improving security, and upholding the principles of self-sovereign identity.
Learn more: https://selfkey.org/
