Gate.io announcement regarding support for the merger of SingularityDAO (SDAO) and Cogito Finance (CGV) to Singularity Finance (SFI)

According to the <a href=“https://x.com/SingularityDAO/status/1865514265576382730” rel=“nofollow noopener noreferrer” target=“_blank”>official announcement of SingularityDAO (SDAO)</a>, SingularityDAO (SDAO) and Cogito Finance (CGV) will merge their tokens and exchange them for the new token of Singularity Finance (SFI). <a href=“https://www.gate.io/” target=“_blank”>Gate.io</a> will support this token exchange, providing users with token exchange services, and users on the platform can complete the exchange without any action required.

Exchange Rate: 1 SDAO = 1 SFI 1 CGV = 0.14122 SFI

Gate will take the following steps for the exchange:

1. Gate.io has closed the deposit services for SingularityDAO (SDAO) and Cogito Finance (CGV).
2. Gate.io will close the new leveraged lending and collateral lending for SingularityDAO (SDAO) before January 23, 2025, at 14:00 (UTC+8).
3. Gate.io will suspend the withdrawal and trading services of SingularityDAO (SDAO) and Cogito Finance (CGV) on January 24, 2025, at 11:00 (UTC+8), including the SDAO_USDT, SDAO_BTC, and CGV_USDT spot trading pairs, quantitative grid trading, Yubi Treasure, and leveraged trading.
4. If there are active quantitative trading strategies, please adjust the strategies in advance. Otherwise, they will be forcibly stopped before January 24, 2025, 11:00 (UTC+8).
5. If you still have assets in Yu Bi Bao, you can manually redeem them in advance; otherwise, they will be forcibly stopped before January 24, 2025, 11:00 (UTC+8).
6. If there are users with outstanding SingularityDAO (SDAO) loans in the leveraged trading market, please repay in advance, otherwise automatic settlement repayment will be conducted before January 24, 2025, 11:00 (UTC+8). 7）SFI new Token contract address: 0x7636d8722fdf7cd34232a915e48e96aa3eb386bf (ETH) 0x7636d8722fdf7cd34232a915e48e96aa3eb386bf (BSC)

Please note that after the merger is completed, the new SFI Token has risks of unlimited issuance and contract suspension. After this token exchange, the token economy will change. Please be sure to pay attention to the risks and operate cautiously. <a href=“https://www.gate.io/” target=“_blank”>Gate.io</a> will no longer support the old tokens of SingularityDAO (SDAO) and Cogito Finance (CGV). The launch date of the new Singularity Finance (SFI) Token will be announced separately after the completion of the token launch review.

Official Announcement: <a href=“https://x.com/SingularityDAO/status/1865514265576382730” rel=“nofollow noopener noreferrer” target=“_blank”>https://x.com/SingularityDAO/status/1865514265576382730</a>

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Gate.io January 23, 2025