Key takeaways:
- SingularityDAO (SDAO) and Cogito Finance (CGV) have merged into Singularity Finance (SFI), with migration completed successfully last month.
- Trading for SFI begins on February 19, 2025, with the token contract confirmed for Ethereum and Binance Smart Chain.
- Gate.io has ceased support for SDAO and CGV, and users should review holdings and prepare for potential market volatility.
Gate.io has completed the token merger and migration for SingularityDAO (SDAO) and Cogito Finance (CGV), transitioning both assets into a unified ecosystem under the Singularity Finance (SFI) token. This shift aligns with the broader vision of decentralized finance and artificial intelligence (DeFAI), offering users expanded access to AI-powered investment tools.
Singularity Finance $SFI will officially begin trading on @gate_io at 03:00 AM UTC on February 19, 2025
— Singularity Finance (@Singularity_Fi) February 17, 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
As part of the transition, Gate.io no longer supports SDAO and CGV, and all associated deposits, withdrawals, and trading pairs have been discontinued. The SFI token will begin trading on February 19, 2025, at 11:00 (UTC+8), with initial exchange rates set as follows:
- 1 SDAO = 1 SFI
- 1 CGV = 0.14122 SFI
The new SFI contract address is 0x7636d8722fdf7cd34232a915e48e96aa3eb386bf (Ethereum and Binance Smart Chain). Users can check their updated balances under “Bill Details” on Gate.io.
Key steps taken by Gate.io during migration
To ensure a smooth transition, Gate.io implemented a series of structured steps:
- Deposits for SDAO and CGV were disabled before the migration process.
- Leveraged lending and collateralized trading for SDAO were closed before January 23, 2025, at 14:00 (UTC+8).
- Trading and withdrawals for SDAO and CGV ceased on January 24, 2025, affecting spot trading pairs such as SDAO/USDT, SDAO/BTC, and CGV/USDT.
- Users with active quantitative trading strategies or assets in Yubibao were required to manually adjust or redeem their holdings before suspension.
- Outstanding SDAO loans in the leveraged trading market were automatically settled before closure.
What SFI brings to the AI-powered DeFi ecosystem
The launch of SFI is a step toward democratizing AI investment, traditionally dominated by major tech companies. By integrating real-world assets (RWAs) with AI-driven financial products, Singularity Finance aims to give retail investors access to high-demand AI technology and investment opportunities.
SFI will provide:
- Gas fees and staking rewards for the Singularity Finance blockchain.
- Integration within Dynavaults, an AI-powered yield system for automated asset management.
- Decentralized access to AI-powered computing resources, such as aggregated GPU tokenized yields.
The long-term vision for SFI is to establish itself as a gateway to decentralized AI.
The bottom line
With the successful completion of the Singularity Finance token merger, Gate.io has officially retired SDAO and CGV, replacing them with SFI. The new token will go live on February 19, 2025, with potential for significant market activity in its early days.
Users should be aware of market fluctuations and potential risks associated with the new token’s issuance structure.
