Singularity Finance Teams Up With Particle Network To Streamline Tokenized AI Transactions

Singularity Finance said today it’s working with the chain abstraction technology provider Particle Network to try and boost the interoperability of tokenized artificial intelligence assets with decentralized finance protocols.

The collaboration will see the two projects pool their resources to address one of the key limitations of the blockchain industry, namely the lack of interoperability between different networks. In doing this, they aim to increase the accessibility of Singularity’s tokenized AI assets and make them available to use in DeFi protocols on any blockchain.

Created by a merger between SingularityDAO, Cogito Finance and SelfKey, Singularity Finance is an intriguing Layer-2 network that’s focused on tokenizing assets within the AI economy. It’s designed to tokenize AI assets such as large language models, training datasets and the computing resources needed to power AI applications.

By tokenizing every part of the AI economy, Singularity Finance aims to merge the fast-growing industry with the DeFi economy to increase decentralization. It will enable everyone to invest in AI and become a stakeholder in this key technology, which many believe will have a transformational impact on the world in the coming years. At the same time, it’s also building tools to automate investing in AI assets.

Particle Network is now set to help make all of this possible. It’s the creator of a modular Layer-1 blockchain that’s focused on “chain abstraction”. With its Universal Accounts, it enables users to engage with crypto and DeFi using a single, unified on-chain address that spans every blockchain.

Universal Accounts are designed to solve the headaches that arise with having to manage multiple crypto wallets for each and every blockchain. We live in a truly multichain world, where users must hold and manage tokens on each blockchain they interact with, be it Bitcoin, Ethereum, Polkadot, Cosmos, Solana or something else.

Managing so many wallets simply isn’t feasible for the vast majority of consumers, and the lack of network interoperability also causes headaches for developers, who must consider which blockchain to deploy their dApps on, and then try to make them play nicely with other networks when the time comes to try and expand into new markets.

By providing users with a single address that works for every blockchain, Particle Network makes it simple for people to buy, sell and swap crypto assets without worrying which network they live on. Users can just send funds from one chain to another.

Its Universal Accounts are compatible with both EVM and non-EVM networks, including Bitcoin. It does this through the use of ERC-4337 “smart accounts”, which are a new feature that expands the programmability and functionality of traditional crypto wallet accounts, making them compatible with any blockchain.

Universal Accounts will make life much easier for Singularity Finance’s users. For instance, if somebody wants to mint an NFT on the SFI chain but they only hold ETH in their wallet on the Ethereum mainnet, they would normally need to carry out multiple actions. The steps would include approving a bridging contract, then bridging their ETH to SFI, before approving the contract and finally, minting the NFT.

Particle Network streamlines these actions into just one, simple transaction, removing the headaches and hassles, making the process much more user-friendly. By doing so, it will enable the seamless flow of liquidity to and from the SFI chain, boosting its tokenized AI economy.

Singularity Finance Chief Executive Cloris Chen said the decision to collaborate underscores his project’s commitment to building a more inclusive AI economy.  “Together, we aim to accelerate progress and open new avenues for growth by integrating infrastructure solutions that simplify blockchain interactions and enhance the user experience,” he said.