Kingstown, Saint Vincent and the Grenadines, October 29th, 2024, Chainwire
Decentralized 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, allowing its community to have their say in the already tabled merger. The vote will close on November 7. It follows a similar initiative that was put to the SDAO community. As its name suggests, the snapshot vote will take a snapshot of KEY token holders on the day the vote begins (November 1), so make sure you have KEY in your wallet before this date to participate.
All KEY holders can participate in the SelfKey vote and determine the project’s future 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 such as Singularity Finance, and we invite the community to share their valuable input on this critical step. A corresponding token merger would see KEY holders swap their tokens for the new unified asset, SFI, used as the native token of Layer 2.
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 tokenized RWAs. This will position the three entities at the forefront of the drive to tokenize real-world assets 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 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 abstaining 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.Â
About SelfKey
SelfKey is a blockchain-based identity platform that enables individuals and organizations to securely manage and control their digital identities, enhancing compliance with KYC requirements through decentralized technology. With a team experienced in decentralized identity since 2014 across significant companies, SelfKey aims to revolutionize the KYC onboarding process by lowering costs, improving security, and upholding the principles of self-sovereign identity.
Learn more here.
Avishay Litani
