Governance Vote for Updated Singularity Finance Merger Plan

Proposer(s): Singularity Finance (SFI) Date: 9th December 2024 Category: Company Merger Status: SDAO Governance Vote

1. Proposal Overview

This proposal seeks approval from the community to move forward with the merger of SingularityDAO (SDAO) and Cogito Finance (CGV) into Singularity Finance (SFI), while continuing to carefully evaluate the inclusion of SelfKey (KEY) at a later stage. This updated approach ensures the sustained progress of Singularity Finance without delays in development and product delivery. The phased strategy prioritises alignment with community interests and ecosystem goals, while leaving open the possibility of revisiting SelfKey’s role in the future. By approving this proposal, this will allow Singularity Finance to finalise its integration framework, updated tokenomics, and immediate next steps for ecosystem growth.

2. Updated Merger Plan

2.1 Phased Integration of Ecosystem Entities The integration of SingularityDAO and Cogito Finance will proceed as the first phase of the Singularity Finance ecosystem’s development. The inclusion of SelfKey remains under review and will be evaluated further to ensure alignment with strategic objectives and community interests.

2.2 Token Conversion Ratios As part of the updated plan, the SFI token will consolidate the utility of SDAO and CGV tokens under the following conversion ratios: SDAO → SFI: 1:1 (1 SDAO = 1 SFI) CGV → SFI: 1:0.14122 (1 CGV = 0.14122 SFI) Ratios are calculated based on the 200-day moving average of each token up to 26th November 2024.

2.3 Tokenomics Adjustments Total supply will reflect the integration of SDAO and CGV tokens. Vesting schedules and allocations remain consistent with the previously approved framework.

2.4 Migration Process A migration portal will enable token swaps for SDAO and CGV holders at the updated conversion ratios. Current SDAO staking in SREP pools will have early withdrawal fees set to 0 to facilitate migration.

3. Governance Vote Details The community is invited to vote on two key matters: Approval of the continued merger of SDAO and CGV without SelfKey at this stage. Approval of the revised tokenomics, including updated conversion ratios for SDAO and CGV.

3.1 Voting Options: Accept the proposal Reject the proposal Abstain

3.2 Voting Period: Start: 9th December 2024 (12:00 PM UTC) End: 13th December 2024 (12:00 PM UTC) Voting Portal Link: https://snapshot.org/#/sdao.eth

4. Strategic Justification This updated proposal ensures the continued progress of Singularity Finance by focusing on the integration of SingularityDAO and Cogito Finance as a first step. Key benefits include: AI-Driven Financial Services: SingularityDAO’s AI-powered DynaVaults will enhance automated asset management and risk mitigation within the Singularity Finance ecosystem.

Real-World Asset Tokenisation: Cogito Finance’s expertise in tokenising RWAs will expand liquidity and access to decentralised financial products. Scalable Ecosystem Development: Proceeding with the phased integration allows Singularity Finance to sustain momentum while mitigating potential risks. The phased approach ensures that all integrations are aligned with the long-term goals of Singularity Finance and the best interests of the community.

5. Timeline Governance Vote Period: 9th December 2024 (12:00 PM UTC) – 13th December 2024 (12:00 PM UTC) Vote Results Announcement: 14th December 2024 Token Migration Launch: Following governance approval and vote audit, further details on the migration portal will be provided.

6. Conclusion This governance vote represents a critical step in advancing Singularity Finance as the financial backbone of the AI economy. By approving the updated merger plan, the community enables the integration of SingularityDAO and Cogito Finance into a unified ecosystem, ensuring progress while addressing evolving market demands. Your participation is vital. By casting your vote, you contribute to shaping the future of Singularity Finance and its role in revolutionising AI-driven financial innovation.