A singularity, or singulo, is an entity used to generate power, or maliciously used to decimate the station to an unrecoverable point.
Uses
The main and intended use for a singularity is as the centerpiece and key for the singularity engine. The massive amounts of lethal radiation it generates are excellent for producing grand amounts of stored power (in the form of Mega Watts).
Other uses include sabotage, that is to say that one could use it to inflict wide casualties and severe structural damage to the station as a whole, leaving very few, if any, survivors.
Hazards
Radiation
The singularity generates massive amounts of radiation, even at small size. This amount is sufficient enough to kill a normal, unmutated human in less then 5 minutes assuming direct exposure with an emergency suit on.
"Singuloose"
Another danger the singularity poses is what many players call "singuloose," often proclaiming that "Lord Singulo has/is risen!" In the event of a singuloose, the gravitational singularity at the heart of the singularity engine has broken containment, either through sabotage by a wild space animal/syndicate operative, failiure to deliver power to the emitters that in turn power the containment field generators, or through sheer incompetence of the engineering crew. Often, there is no turning back once a singularity has broken free of its containment, and your only option is to find or steal a hardsuit to protect from the vacuum of space and run in the opposite direction (OPPOSITE, unless you know what you're doing) of the singuloose.