TL;DR
- SingularityDAO partners with Cogito Finance to integrate Real-World Assets (RWAs) into its AI-powered DynaVaults v2.
- The agreement will enable the incorporation of tokenized RWAs as ERC-20 tokens on Ethereum, backed 1:1 by underlying assets.
- Cogito Finance offers products such as TFUND, GFUND, and XFUND, which provide investment options with varying levels of risk and liquidity.
SingularityDAO, a protocol specialized in decentralized wallet management, has announced a new collaboration with Cogito Finance to integrate Real-World Assets (RWAs) into its upcoming DynaVaults v2, which will be powered by artificial intelligence.
This agreement is crucial for strengthening the convergence of decentralized finance (DeFi) with traditional finance (TradFi), with the aim of developing innovative and compliant on-chain financial products.
— SingularityDAO (@SingularityDAO) September 18, 2024
The partnership with Cogito Finance will allow SingularityDAO to incorporate tokenized RWAs, minted as ERC-20 tokens on the Ethereum network and backed 1:1 by the underlying assets. These transactions, such as the daily Net Asset Value (NAV), are carried out off-chain but recorded on the blockchain, ensuring real-time transparency and accessibility for investors.
Cogito Finance’s new service includes TFUND, which represents tokenized U.S. Treasury Bills, providing a low-risk investment option with high liquidity and short-term maturities ranging from 0 to 3 months. Additionally, GFUND offers green bonds supporting environmental projects, while XFUND focuses on high-growth sectors like artificial intelligence. These products will provide users with new performance opportunities derived from traditional assets.
SingularityDAO: Solid and Accessible Financial Solutions
According to Mario Casiraghi, co-founder of SingularityDAO, the integration with Cogito Finance aligns with the goal of providing access to open finance, synergizing the missions of both partners. It is a crucial advancement for advancing the financing of Web 3.0, benefiting both end-users and the broader Artificial Superintelligence (ASI) ecosystem.
Meanwhile, Cloris Chen, CEO of Cogito Finance, highlighted that the collaboration optimizes the strengths of both companies, offering an on-chain financial solution that is institutionally robust and accessible. The integration of Cogito’s tokenized products into SingularityDAO’s AI-based wallet management system promises to set new standards in security, efficiency, and transparency for the DeFi sector.
