CryptoInvestDAO origin story
At the beginning of July 2021, we were approached by our good acquaintances, owners of one of the crypto exchanges, with an offer to invest in them at a good interest in dollars. The crypto exchange has been successfully operating since 2019, so we decided to consider their offer. They told us in detail and showed us what margin trading is and how the crypto exchange profits from it. As a result, we accepted the offer to become liquidity providers, as ROI is high, and risks are minimal.
Over time, convinced that our investments were working well, we began to raise funds from other people, primarily our acquaintances who trusted us.
The increase in the number of investors has set us the task of automating accounting. The idea to create our Web3 bank appeared. Practice shows that if you have some idea, then with a probability close to 1, it has already been implemented by someone (usually the Chinese 😊). Unfortunately, we couldn’t find a ready-made solution (if you know of such a solution, write to us), and creating a Web3 bank from scratch will require a lot of money and time.
The solution to our problem, though with some peculiarities, came unexpectedly. We saw Vlad’s (CEO of XDAO) speech at one of the crypto-club meetings in Bali. The topic of DAO was not new to us, as the variant of using some DAO builder for treasury management was already studied by us before (https://deepdao.io/dao_tools). Unfortunately, none of the previously considered DAOs suited us, so we were pleasantly surprised to hear in Vlad’s presentation the key points absent in other DAO constructors. Detailed study and testing of the XDAO platform confirmed the possibility of its use for our purposes. If anyone is interested 😊, you can easily follow our learning and testing process in the XDAO groups.
I see no point in describing how our fund works because it is enough to go to our website and spend a couple of minutes of your time. Here I can only add that our already launched fund offers a passive income of 15% per annum in USDC. Over time we will add other cryptocurrencies.
