Key Takeaways

• The successful merger of SingularityDAO and Cogito Finance into Singularity Finance marks a progression in the DeFi and AI sectors.
• Trading for the new SFI token is set to commence on February 19, 2025, following a well-organized migration.
• Users on Gate.io must be mindful of the cessation of support for SDAO and CGV, preparing for potential market volatility ahead.

Gate.io has executed the integration of SingularityDAO (SDAO) and Cogito Finance (CGV) into a sole entity, Singularity Finance (SFI). This initiative is part of a vision that focuses on merging decentralized finance with artificial intelligence, thereby enhancing user access to advanced investment tools powered by AI.

Singularity Finance $SFI will officially begin trading on @gate_io at 03:00 AM UTC on February 19, 2025

A big thank you to https://t.co/3YL5rp0RQA for supporting the growth of decentralized AI and finance – DeFAI. This listing marks another important step in expanding SFI’s… pic.twitter.com/ToJZ4kGSti

— Singularity Finance (@Singularity_Fi) February 17, 2025

Transition Details and Market Readiness

A critical aspect of this transition is that Gate.io has officially stopped supporting SDAO and CGV. This includes the closure of all deposits, withdrawals, and trading pairs associated with these tokens. The trading for SFI is set to kick off on February 19, 2025, at 11:00 (UTC+8), with initial values established as follows:

• 1 SDAO = 1 SFI
• 1 CGV = 0.14122 SFI

The new SFI contract address is 0x7636d8722fdf7cd34232a915e48e96aa3eb386bf, compatible with both Ethereum and Binance Smart Chain. Users are encouraged to check their updated balances in the ‘Bill Details’ section on Gate.io.

Steps Taken by Gate.io During Migration

Gate.io has taken several methodical steps to ensure a seamless transition for its users. Here’s an overview of how the migration was managed:

1. Disabling deposits for SDAO and CGV prior to migration.
2. Closing leveraged lending and collateralized trading for SDAO before January 23, 2025, 14:00 (UTC+8).
3. Ceasing trading and withdrawals for SDAO and CGV on January 24, 2025, affecting various spot trading pairs.
4. Users engaged in quantitative trading or those holding assets in Yubibao had to manually adjust or redeem their holdings prior to suspension.
5. Outstanding loans in the leveraged trading market related to SDAO were automatically settled.

Innovative Features of Singularity Finance (SFI)

The introduction of SFI represents a transformative step in making AI investment more democratized, a space previously controlled by leading tech corporations. Singularity Finance aims to integrate real-world assets (RWAs) with AI-driven financial solutions, thus providing retail investors with access to cutting-edge AI technology and potential investment avenues.

Singularity Finance (SFI) promises to offer:

• Gas fees and staking rewards aimed at incentivizing active participation in the Singularity Finance ecosystem.
• Integration within Dynavaults, designed to facilitate automated asset management through an AI-enhanced yield system.
• Decentralized access to AI-powered computing resources, which includes aggregated GPU tokenized yields, broadening investment opportunities for users.

The overarching mission of SFI is to create a robust portal for decentralized AI engagements, ultimately driving widespread adoption and innovation in the sector.

Frequently Asked Questions (FAQ)

When will SFI start trading?

SFI is set to begin trading on February 19, 2025, at 11:00 AM (UTC+8).

What should users do with their SDAO and CGV holdings?

Users should review their holdings and prepare for market volatility, as support for SDAO and CGV has ended.

What benefits does the SFI token provide?

The SFI token includes benefits such as gas fee rewards, access to AI-driven asset management through Dynavaults, and decentralized AI computing resources, enhancing investment opportunities.