According to the official announcement by SingularityDAO (SDAO), SingularityDAO (SDAO) and Cogito Finance (CGV) will undergo a token merger to the new Singularity Finance (SFI) token. Gate will support this migration and provide seamless token swap services for users. If you hold these tokens on Gate, no action is required on your part.
Swap Ratio:
1 SDAO = 1 SFI
1 CGV = 0.14122 SFI
Details:
- Gate has closed the deposit service for SingularityDAO (SDAO) and Cogito Finance (CGV).
- Gate will disable new margin borrowing and crypto loan services for SingularityDAO (SDAO) before January 23, 2025, 06:00 UTC.
- Gate will suspend the withdrawal and trading services for SingularityDAO (SDAO) and Cogito Finance (CGV), including SDAO_USDT, SDAO_BTC and CGV_USDT spot trading pairs, quant grid trading, Simple Earn, margin trading, starting from January 24, 2025, 03:00 UTC.
- Users with ongoing quant grid trading of SingularityDAO (SDAO) and Cogito Finance (CGV) should adjust your trading strategies beforehand. Otherwise, the trades will be terminated automatically before January 24, 2025, 03:00 UTC.
- Users with SingularityDAO (SDAO) and Cogito Finance (CGV) assets in Simple Earn may manually redeem them in advance. Otherwise, the assets will be liquidated before January 24, 2025, 03:00 UTC.
- Users with outstanding SingularityDAO (SDAO) loans in the margin trading market should repay the loans in advance. Otherwise, the loan will be settled automatically before January 24, 2025, 03:00 UTC.
- New SFI Token ID:
0x7636d8722fdf7cd34232a915e48e96aa3eb386bf (ETH)
0x7636d8722fdf7cd34232a915e48e96aa3eb386bf (BSC)
Please note that the new SFI token carries risks of unlimited issuance and contract suspension. The tokenomics will change after the swap. Gate will no longer support SingularityDAO (SDAO) and Cogito Finance (CGV). Tthe listing time for Singularity Finance (SFI) will be announced separately after Gate completes the listing review.
Project Team’s Announcement: https://x.com/SingularityDAO/status/1865514265576382730
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Gate Team
January 23th, 2025
