SyncDAO To Release DeFi’s Golden Goose!
DISCLAIMER: Everything about DeFi and specifically SyncFarms is experimental. You have a stack of risks, don’t play with shit you don’t understand, you could burn the whole thing down with one wrong move, get a DeFi coach, educator, teacher or someone to show you how to do the things and understand them. Even then things could still go wrong, proceed with caution.
Greed will be the end for numerous farmers in the latest wave of DeFi growth, chasing yields versus focusing on ways to create long term sustainability.
Just like in regular farming, mono-cropping (greed for highest yields) is destroying the ecosystem of DeFi.
It’s not all bad news though, thankfully we can mimic sustainable farming methods from the real world. Think Permaculture methods for DeFi Farming in a sustainable way.
First we need diversity to add to this biggest little way of farming into the ecosystem.
How do you incentivise diversification from greed?
You offer an alternative that will help people achieve their wealth aspirations in a new form, aka get them hooked on cashflow over capital gains.
This is where DeFi returns come back into the picture.
Imagine reliable APYs with a twist, you cannot withdraw your initial capital.
Perpetual Vaults!
Perpetual Vaults are tailored to create ongoing streams of income from DeFi APYs without users being able to interrupt the flow. It was born from observing nascent DeFi users, specifically it was noticed a large portion of them have poor behaviour patterns that result in them losing their principal over and over again.
Imagine building multiple unstoppable on-chain income streams, it might be the ultimate freedom maker.
SyncFarms is set to bring you four Perpetual Vaults to get you started with ongoing DeFi income streams.
Golden Goose — designed for someone to build a nest for their goose that constantly produces golden eggs aka cashflow in the form of tidy APYs for them. 80% of available returns go to the users address of choice and 20% go into fattening their golden goose by growing the principal.
Worm Farm — Perpetual Vault that sends 70% of the interest to you, 20% of the interest to Gitcoin grants and 10% goes into increasing the perpetual vault’s interest earning balance.
Maxi Pig —Perpetual Vault sends you 30% of available interest to you in WBTC, 30% in ETH, 30% in DPI and 10% goes into growing the perpetual vault’s principal.
Old McDeFi — Perpetual Vault sends you 80% of available interest in SDG, SyncDAO Governance Tokens, and 20% goes into fattening your perpetual vault.
This is all neat, but…
What is the F*cking Use Case for Perpetual Vaults?
Consider expenses you have, let’s take your mortgage payment on your home as an example. It might cost say $30k a year for 20 years, totalling $600k…
Or, hypothetically you might have had a Golden Goose that pays you 30k a year on 160k (assuming 18.75% APYs) of Locked Golden Goose goodness. Your mortgage payment could be covered for the next 20 years, saving you a tidy 440k, plus you still have a bunch of money still flowing to you to buy the next home too. Perpetual mortgage payments.
CASHFLOW is King!
It’s not just houses though, imagine other living expenses too!
When you buy a Golden Goose the unique thing about it is that you can NEVER withdraw your original deposit, this novel idea creates different behaviours and potential products.
A small example might be perpetual smartphones.. Or perpetual cars… Or a…..
A big example might be your perpetual cost of living covered.
Imagine automatically receiving a new laptop every three years, because a store sold you a Perpetual Laptop, the possibilities are endless, especially at the retail checkout level.
Philanthropy, Venture Capital, Universal Basic Income, Family Offices (Dynasties) and a whole world of perpetual vault applications are possible that could ultimately change the way in which a lot of people relate to wealth and cashflows for generations to come.
This self-imposed locking of funds by the user in a perpetual vault has a key concern though…
How is this sustainable ser?
What if the APYs dry up? What if products slowly fade out that the perpetual vaults are getting returns from?
The solution is to have SyncDAO as the guardian and strategist of the vaults, ensuring the optimum DeFi returns, security and longevity are sort after at all times.
SyncDAO token holders will have the sole ability to propose and vote into existence, new DeFi strategies and products into these perpetual vaults.
Ultimately there may be times of lower rates, and times of much higher rates than expected also. This is DeFi after all, anything could happen in this magical land of internet monies.
Affiliate Layer Drives Adoption
SyncDAO produced a proof of concept product that is live called GrowUSD.com. It was never intended for large scale use, we may or may not improve the product in the future.
What it does prove out though is that we can have an affiliate layer which is intended to drive adoption for SyncDAO’s products, this affiliate layer is completely non-custodial. For certainty we had this affiliate layer and the SyncDAO smart contract audited by Quantstamp.
To prove out this thesis, we took a baby step towards testing it by gathering together 37 budding affiliates / crypto educators and spent three days with them workshopping how they might use SyncDAO products to generate an income for life, not to dissimilar to how old world advisors build a trail of revenue.
We discovered that most affiliates could build a decent 6–7 figure income on the front end by providing education for a fee and build an incredible trail income that goes exponential over time.
Affiliates have one key advantage, they can educate people on these technologies and share their affiliate link with people in a safe way, within the confines of existing laws. They cannot give advice of course, but they definitely can educate people in how to use these emerging technologies and disclose their affiliations as they go along.
This is the key part to the growth strategy for SyncFarms and any other products that SyncDAO decides to launch.
Token and Incentives
Total Token Supply
2,000,000 SDG
SyncDAO Governance Tokens
Product Usage Tranche 1 — Encourage Early Users
10% — 200,000 SDG
Unlocks over 12 weeks to product users.
Product Usage Tranche 2 — Encourage Lifetime Users
40% — 800,000 SDG
13 week cliff, then farmed over 4 Years by using products.
Builders — Incentivise Developers To Build Cool New Products
10% — 200,000 SDG
SDG held in DAO Treasury. Builders submit proposals and DAO votes on allocating SDG to proposals and/or affiliate layer commissions to builders. Unlocked over 8 years.
Affiliate — Reward Affiliates And User Adoption Activities
10% — 200,000 SDG
SDG held in DAO Treasury. Token holders submit proposals and DAO votes on allocating SDG to proposals. Unlocked over 8 years.
Team — Reward attention from our dedicated team
10% — 200,000 SDG
3 month cliff then unlocks over 9 months.
Angels — Reward fast action risk-takers
11.25% — 225,000 SDG
Unlocks in 3 tranches at the end of months 1, 2 & 3
Presale — Reward early movers
8.75% — 175,000 SDG
10% unlocked at TGE. Balance unlocks in 3 tranches at the end of months 1, 2 & 3
FAQs
What if the APYs drop?
SyncDAO token holders would put forward a proposal of a new strategy and vote to make the decisions to resolve this issue. Perhaps they add other DeFi Products, or perhaps they change goose rules entirely. Who knows, the wisdom of SyncDAO will decide.
Who controls the keys?
Users control the keys over their own Perpetual Vaults. They are just self-imposing a lock over their principal to not be able to withdraw it.
What guarantees are there?
None. This is an unproven thesis, use the experimental technology at your own risk.
What about inflation?
Some of the APYs are used to fatten the perpetual vaults and yields over time.
Why can’t I withdraw my initial capital from a Perpetual Vault?
This is for pioneers, courageous users who want to build unstoppable income streams. However, you will be able to sell your Perpetual Vault Token (PVT), which is representative of your individual holdings, as it will be transferable.
What does the SyncDAO Token do?
It is a governance token that proposes and votes over proposals relating to SyncDAO and its products.
When does the SDG token go live?
During DeFi’s Endless Summer 2021.
Can I pool funds for SDG?
We do have a small allocation remaining. If you are interested in putting together a pool for this, please complete this Expression Of Interest Form and we will be in touch.
How can I find out more?
Join our Discord or our Facebook Group where will will be sharing all the info about how you can participate in SyncDAO.
IMPORTANT: Sync DAO 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.
