Permissionless Partnerships — Affiliates in the SyncDAO Ecosystem
Every time a new project launches into the DeFi space, we see the importance of partnerships yet again. Most of these projects partner with other companies before fully launching. This highlights the role of collaboration in the DeFi space. One would think that DeFi means there’s less need to partner with others. But that isn’t really the case.
As our CEO Rossco Paddison puts it, “pretty much every project that launches proves that they are in partnerships with other companies, teams, key opinion leaders, and individuals. Now, is this the wrong way to go? No, that’s still the way the world works, but in the future, we might be able to do something quite different.” So, while not changing this partnership approach, we need to refine it better to fit the DeFi narrative. This is why we need to understand the place of permissionless partnerships.
To truly decentralize the financial space, we must create a permissionless system where people can carry on business-within-business without obtaining permission from any central authority — including the platform or business they are operating within! This opens up real accessibility of financial services to a larger variety of users, while also creating a system of people who are excited to onboard, support and collaborate with others.
Think about this: you can bring new users into a platform and educate them on the technical aspects of making money using it. For educating them, you get paid a fee, you get rewarded for your time and effort helping them, and the cycle of education and support continues. A system that fosters this kind of relationship solves both the problems of access (as different educators will reach and speak to different user groups and genuinely meet their unique needs) and financial sustainability hurdles (of incentivising and rewarding onboarding support).
This is what we’re doing at SyncDAO through our perpetual vault (PV) and affiliate layer incentives.
The Vault is not new to the DeFi space. It’s the idea that you have multiple strategies working to create capital returns within a single smart contract container. What we do to help users maximize the functionality of DeFi Vaults is to create a role for affiliates within the protocol. As an affiliate, you can invite your friends, followers or clients to invest capital in the PV. When they deposit and mint new PVTs — they will earn returns when they stake their PVTs and the affiliate will earn a small percentage of these returns. Forever.
The impressive thing with this entire permissionless system is that you don’t need our permission before you partner with us to do this. You can build a whole business and revenue stream for yourself that is perpetual and completely unstoppable. The absence of a central structure granting permissions or licenses to some users (and on the flip side, restricting them to others) opens up a wide scope for affiliates to support, educate and onboard as many new users as they want. This represents a truly decentralized structure for creating and rewarding business value that’s permissionless and transparent.
According to Rossco, creating a permissionless system like this “opens up a wave of opportunities for the creative economy, the gig economy, the Uber drivers of the future, to share with their friends and the people they know the best tools they can use — in a way that’s going to build a lifestyle and income for themselves. And although ideologically, we have been trying to steer away from recreating the middlemen in DeFi, it’s timeless that it will exist in some version.
What we don’t want are centralized middlemen. We want to disintermediate it and make it so that people on the frontline can still help everyday people get into this freedom technology because ultimately; there are still going to be people on the planet who don’t know how to send an email, and someone does it for them; there are still people who can barely turn their computer on, but they use the power of technology to improve their lives every day.”
Realising that there will always be those who need some form of education and help to access financial services and the sheer volume of opportunities in DeFi presuppose the valuable roles for sales or customer support. The fundamental ethos of decentralization continually shows us the importance of a permissionless system to overcome the challenges of the past.
If affiliates want to be able to onboard more people and educate them on how to create the life they want, they must have full authority to do so. Changing the paradigm of wealth so that we are can build solid wealth in this generation and pass on a legacy to the next, starts from enabling people to access these financial services. This is what we do at SyncDAO through our Perpetual vaults and affiliate layer.
We invite you to join us and be part of these unstoppable conversations — discover how you can build our use cases into what you do.
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.
