Be Self-Responsible.
That’s the thing. Self-responsibility is the most rebellious thing you can do when it comes to your finances. Sounds boring at first, we know, but it has the potential to change your life and we’ll show you how in this article.
The world-renowned hedge fund manager, Ray Dalio, has said, “Almost nothing can stop you from succeeding if you have A) flexibility and B) self-accountability.” SyncDAO has built a financial system, created with the power of DeFi (decentralized finance), that empowers you with the flexibility to create wealth on your terms.
The current banking system was designed decades ago with now outdated technologies and business models. It served its purpose, creating a global financial ecosystem, but we can do better to help millions of people across the globe create wealth that works for them. And the best part? It starts with you. Through DeFi, you now have the flexibility to use modern blockchain technologies to own your financial life.
A New Relationship with Money
Taking self-responsibility, in DeFi, means becoming your own bank because there is no bank. Instead, you manage your money with a digital wallet without any centralized party deciding who can use a service and how it can be used. In DeFi, self-responsibility means you choose which platforms and protocols to deposit your money into to earn returns, all based on open-source smart contracts. And it means that you have 100% control over your cryptocurrency, your identity, and your digital wallet. Currently in traditional banking, taking self-responsibility on this level isn’t an option because the bank is in control of the products and services and requires your identity to monitor your account. But in DeFi, you have the opportunity to transform your experience with money.
To see the transformative power of DeFi, let’s compare a traditional bank certificate of deposit (also known as a term deposit) to SyncDAO’s Perpetual Vaults. With a bank certificate of deposit, you place your money into an account and lock your funds in for an agreed-upon period. An average certificate of deposit typically pays less than 1% APY and locks your money in for one to two years or even longer. During this time, the bank has full control and custody over your funds, which you have to simply trust they are keeping safe. And if you want to withdraw your money, there is typically a fee.
Contrast that with SyncDAO’s Perpetual Vaults, where you can earn normal DeFi returns that are known to be 8% APY or more. Plus you can withdraw your money when needed by selling your tokens or choose to leave your money in the vault for as long as you wish, earning more and more as time goes on.
The banking system has served millions of people, helping them save incremental amounts of money. At SyncDAO, we want to empower you to serve yourself, to not save your money but instead grow your money forever.
Taking self-responsibility is the first step to a new relationship with how money works for you.
Crypto and DeFi can provide you with numerous ways to take control of your financial life. At the same time, there can be risks and unsavoury actors trying to make a buck. There can also be a high level of technical knowledge needed to navigate DeFi. Terms like “yield farming” and “liquidity provider” are thrown around without explanation and can be intimidating for newcomers. But we believe it can be easier and more accessible. That’s why we created SyncDAO, to provide a safe and secure way for you to be your own bank.
The Decision You Have to Make
When you decide to put your money into a SyncDAO Perpetual Vault, you are deciding to own your finances. This decision is you boldly answering “yes” to the following three questions that drive SyncDAO’s purpose:
- Am I creating perpetual wealth? Yes, this is what we call “Forever Money.” Rather than earning less than 1% per year, think of getting a steady stream of impactful returns driven by DeFi smart contracts. SyncDAO is designed to do this for you through what we call Perpetual Vaults. You can withdraw these returns and use them for living expenses or keep them in SyncDAO earning more each week. Or, similar to buying stock, you can use the returns from a Perpetual Vault to dollar-cost-average into other crypto assets so you are steadily growing your portfolio over time.
- Am I gaining value when I participate in the system? Yes, you’ll gain value from your participation in SyncDAO, whether you are inviting friends, which increases your returns when they use SyncDAO, or if you are helping to shape the DeFi strategies being used to earn returns. With SyncDAO, you decide how much you participate and get rewarded for your decision.
- Am I free to use the system to get financial rewards? Yes, you are free to use SyncDAO because it is a permissionless, trustless system. You have the right to use SyncDAO and to build upon what the DAO creates to further your own wealth goals and be rewarded with the opportunities you see. This is the core value behind taking self-responsibility. Being built on DeFi smart contracts, SyncDAO believes in your freedom to navigate the system and be rewarded for your engagement. With freedom comes the responsibility to make sound financial decisions.
A Place for Everyone
When you take responsibility and become your own bank, you’ll have options for how to participate in SyncDAO. You can play one or multiple roles in SyncDAO as you create your path in DeFi.
If you play all three roles, we like to call you a “DeFi Regen,” someone who is helping to create a regenerative, sustainable financial system, working to ensure others can benefit from taking self-responsibility through DeFi for years to come.
Three ways to play with SyncDAO Perpetual Vaults:
- You can become a “User” and simply put money into the Perpetual Vault to earn more money. This is the easiest way if you are new to DeFi to start putting your money to work for you.
- In addition to being a “User,” you can also be an “Affiliate” and help grow the network, earning higher returns each time a friend that you refer uses SyncDAO.
- And finally, the ultimate expression of your freedom and self-responsibility is to be a “Governor” as well. You’ll help shape the DeFi investing strategies and own the governance token SDG. You vote for new DeFi strategies with other governance token holders to maximize stable returns over time for the entire community.
SyncDAO is a place for everyone ready to become their own bank. The choice is yours. That is the beauty of SyncDAO. When you take self-responsibility, you gain more and more control of how much you’ll financially benefit based on your journey into the SyncDAO community. Start diving deeper today at syncdao.com.
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
syncdao.com/discord
syncdao.com/telegram
syncdao.com/medium
syncdao.com/facebook
syncdao.com/twitter
Or check out more in-depth details about the project;
syncdao.com/deck
syncdao.com/litepaper
syncdao.com/tokenomics
You can verify the token address on https://etherscan.io/token/0xcf8829ae9384540c886a151fac3a865794cb9a01 and on the official SyncDAO website https://syncdao.com/how-to-buy-sdg-syncdao-governance-token/
