More and more people continue to get into the DeFi ecosystem as each day passes. The desire for decentralization in the financial space is on the rise, and the numbers indicate that clearly. As of 12 months ago, the entire DeFi smart contracts valuation was just $1.16B. Today, the value as listed on DeFiPulse.com is estimated to be over $53B.
This is a more than 4700% increase in value locked in DeFi, indicating a clearly skyrocketing DeFi market. With many projects breaking into the market these days, there’s a rapid increase in the diversity of opportunities obtainable within the community.
As you would expect, the increment in the number of users and projects means that more people need access to the right information and guidance to navigate the DeFi space. However, despite this growing need, many platforms focus on tech innovation rather than solving these issues for users. This makes for limited accessibility and insufficient democratization in the DeFi space. SyncDAO sees this opportunity and devises practical solutions to bridge the gap.
Research shows that users engage in numerous activities when they don’t have the right information. Such impulse navigation may land them in losses. Over the past two years, the community has seen:
- Users switch platforms to maximize yields, increasing the complexity they experience
- Increment in risk of loss owing to inadequate education on both investing strategy and technical risks
- Advancement in the DeFi space invariably means more advanced or more unique tech, making it difficult for users to navigate from one platform to another.
All of this limits the number of things many users do and can do. This limitation points to the fact that there’s an existing challenge for many well-funded potential DeFi users from which a market can arise. SyncDAO looks at this opportunity and comes up with relevant solutions to address the challenge.
Three Big Problems
We can categorize the problems users currently face in the DeFi space under three major headings.
The Tech Is Complex
While blockchain and all related activities imply the need for some tech knowledge, they do not have to be too technical. Not everyone with a deep interest in blockchain investment and trading has all the necessary tech knowledge. This often creates a gap that continues to widen in the absence of a real-time solution.
User experience needs to be redefined for the DeFi space. There’s a need to create better UI systems that simplify the processes and give the everyday user a chance to learn while they are using the platform to get results.
Inadequate Regard For Sustainability
The sustainability level of a structure is relevant to determine whether such a structure will outlive itself. Many evolving DeFi projects are focused on quick gains, which are often temporary. This reduces the value the projects get to offer over time and the size of the impact they have on the ecosystem. The absence of a proper sustainability structure in evolving projects does more harm than good to the DeFi space.
Limited Education
The DeFi space is all-welcoming. This means anyone with an interest can choose to pursue such an interest. As such, this broad spectrum of potential target audience means people of varying education levels will find themselves in the DeFi space.
While we have those with high-end tech knowledge, we also have users struggling with setting up processes and understanding basic products. While there are very sophisticated financial strategists using DeFi for great returns, there are also everyday users with personal goals that are keen to be part of the DeFi revolution. To solve this problem, there’s a need for products and processes that educate their users about both tech and investing while in use. That way, we can strengthen the confidence levels in users across all spectrums.
How Does SyncDAO Fit In?
A quick glance through our objectives reveals our unwavering commitment to bridging the education gap in the DeFi space. The platform’s unique selling proposition is centered around decentralization.
SyncDAO is creating a timeless system that empowers affiliates to support and educate more users seamlessly. While creating wealth and helping users maximize their returns, the architecture will also ensure no one is left behind in that cycle.
With SyncDAO’s structure, customer support will become decentralized and affiliates will be empowered to teach more and more people. Decentralized education would mean increased accessibility and diversity, which are two key factors that drive growth and expansion. So, when anyone considers how SyncDAO fits this narrative, the answer lies in decentralized DeFi education without compromising wealth expansion. A win-win like never before!
If you’d like to know more about SyncDAO you can check out the website at syncdao.com
You can join the conversation on one of our channels
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Or check out more in depth details about the project;
syncdao.com/deck
syncdao.com/litepaper
syncdao.com/tokenomics
IMPORTANT: SyncDAO Governance (SDG) token has not been released as yet. Do not engage with any imposter SDG. The Ethereum contract address will be displayed on syncdao.com closer to the launch. This token (SDG) doesn’t have any inherent value but gives you the utility to vote on proposals put forward.
