Are your assets safe with Gain DAO? A conversation with the CEO and founder about crypto security

Klaske Schep
Gain.ai
Published in
3 min readDec 6, 2021

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Are you looking for innovating new passive yield strategies? There’s a new Hybrid Finance pioneer on the scene. It is time to meet Gain DAO. Gain DAO is a series of crypto-based pools, currently starting out with Ether.

The pools are powered by machine learning optimized trading algorithms that are operating in traditional financial markets. This might sound alluring, but what about the security of your assets?

Luckily, the founder and CEO of Gain DAO himself, Robert McDonell, agreed to sit down for an interview and tell us all about the security of Gain DAO.

First of all, could you briefly explain the concept of Gain DAO?

Gain DAO is a series of cryptocurrency-based pools that are run by Pool Managers. They trade with algorithms in trading markets across different market classes. So those markets don’t have to be crypto-related. You could think about traditional currencies, commodities, equities… Pretty much any kind of broker that can facilitate algorithmic trading with a base currency of Ether or Bitcoin could work, as far as our ecosystem is concerned.

In a nutshell, we’re farming the traditional financial markets with algorithmic trading and taking away the profits in cryptocurrencies.

If people decide to invest in Gain DAO, how safe is it? What makes it a secure choice?

I would say the amount of vetting that we subject the Pool Managers to is one of the key factors. Over a year ago, we put out some very tough metrics. Since then, we’ve had eyes on an account that’s audited several times a day, confirming that the proof of technology is there. This makes it clear that we are able to produce an attractive yield without excessive risk.

So if someone says ‘Well, hey, this ecosystem sounds great and dandy, but prove the value to me as an investor’, then we can actually prove that we have the technology to create an attractive return.

When you look at the technical side of things, is Gain DAO a safe choice as well? Are the investors protected against outside breaches?

Well, there’s a spectrum when you think of safety. On one side, you have camp Private Keys: ‘If you don’t have your private keys, then you’re not safe.’ The other camp feels safer having their assets with some regulated broker, where you can use Google Authenticator, for instance.

I can see the value of both of those camps and I am definitely not an absolutist. Usually, I’ll ask someone: ‘Do you feel comfortable having complete and total control of your assets?’

Some people would respond: ‘You know what, I commonly lose things. Sometimes I forget my passwords. I don’t think I’m the best candidate to get complete control myself. I’d rather work with an institution that will be the custodian of my cryptocurrency.’

In fact, most of the times when I hear about people losing their crypto, it’s because they were tricked into somehow giving up their private keys or permissions. However, I don’t hear very often about people who lost their crypto with their broker that was protected via two factor authentication.

Nonetheless, it is very important to ensure that you work with an institution that’s using good standards. With Gain DAO we use a Gnosis Multisig Safe. We set up a total of seven signers. A minimum of our people are needed to move or retrieve funds. So if something were to happen to me, the assets would still be safe.

Thank you for your time, Robert!

To learn more about Gain DAO, visit the links below and join our community on Telegram or Discord.

Website | Github | Twitter | Telegram | Discord | Facebook | Whitepaper

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Klaske Schep
Gain.ai

Klaske is an experienced writer, editor and project manager who is fluent in Dutch and English. She has experience with multiple crypto projects.