SyncDAO x IM community AMA RECAP
TELEGRAM AMA: Im Community & SyncDAO đ
â° AMA Timing : 28 OCTOBER 2021 l 08:00 AM UTC l 15:00 GMT +7
Venue For AMA : https://t.me/imcommunityitw
đ Reward Pool 100 USDT
Bà Tân | : Welcome @paulfholland from SyncDAO
Bà Tân | : Welcome everyone. Today Im Community will host AMA with SyncDAO.
Bà Tân | : Today our guest is: @paulfholland from SyncDAO.
Ahrix : Welcome @paulfholland to the IM community.
Paul Holland â SyncDAO : Also my co-founder @Rosscopaddison
Paul Holland â SyncDAO : I am looking forward to this AMA
Bà Tân | : Hi @Rosscopaddison
Rossco Paddison â SyncDAO.com : Hi ���
Rossco Paddison â SyncDAO.com : I miss Vietnam, which makes me excited for this AMA
Rossco Paddison â SyncDAO.com : Paul and I lived in Saigon for 12 months!
Bà Tân | : Please introduce yourself a bit: @paulfholland, @Rosscopaddison���
Paul Holland â SyncDAO : Iâm Paul and Iâm the COO at SyncDAO. Iâve been involved in the crypto space for the last 4 years and love the difference that crypto and DeFi are able to make to people and financial systems all over the world. Before crypto I ran my own businesses in Importing, telecommunications and mainly marketing. Iâm from New Zealand. I spent 15 years living in Australia and Asia but returned to NZ last year to be closer to family.
Ahrix : Wow, thatâs great���
Rossco Paddison â SyncDAO.com : Iâm Rossco Paddison the CEO at SyncDAO. Mostly I find myself having innovative conversations around DeFi, crypto & startups. I love helping people learning about this great technology so they can gain freedom from DeFi too!
Paul Holland â SyncDAO : I loved living in Saigon, it is a great city
Rossco Paddison â SyncDAO.com : Random fact my favourite vietnamese dish is BĂĄnh Xèo ������
Paul Holland â SyncDAO : The food in Saigon was one of the highlights of living there
Bà Tân | : Thanks for the introduction from the SyncDAO team.
BĂ Tân | : Todayâs AMA will have 3 sessions
Sessions 1: The chat will be muted & the team will introduce themselves then we will ask some introduction questions to the team SyncDAO
Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1453178057393459202).
Sessions 3: The conversation will open to the community questions and the 5 best questions will be selected.
Bà Tân | : Requirements:
���Im Community (https://t.me/imcommunityitw)
���SyncDAO Official Community (https://t.me/syncdao)
���SyncDAO Official Announcements (https://t.me/SyncDAO_Official_ANN)
���Twitter SyncDAO (https://twitter.com/syncdao)
���More information about SyncDAO :
���Website (https://syncdao.com/)
���Medium (https://medium.com/syncdao)
���Discord (https://discord.com/invite/UBYmp7HvE5)
Bà Tân | : Start session 1 AMA
Bà Tân | : Question1. Can you briefly describe what is SyncDAO? We would like to know more about it and how it works.
Paul Holland â SyncDAO : SyncDAO is building a Decentralized Autonomous Organisation that rewards Affiliates for onboarding people into DeFi and rewards Developers who build great products.
Our first product is a Perpetual Vault that generates returns in various DeFi strategies and compounds returns for the user on auto-pilot, allowing anyone to earn returns in DeFi endlessly.
Our smart contracts will be fully audited before the product goes live to ensure there are no vulnerabilities. Furthermore, custody of the PVTs (Perpetual Vault Tokens) will be non-custodial, so you will have the asset in your own wallet.
Ahrix : @paulfholland, @Rosscopaddison Please say âDoneâ when you have finished the question, thank you.
Paul Holland â SyncDAO : SyncDAO will be a way for new users to access the best of DeFi in one dashboard with one token (our PVT)
Done
Bà Tân | : Question2. What products does the SyncDAO team provide to users? What is the standout feature?
Rossco Paddison â SyncDAO.com : Our Perpetual Vault is the core product!
Userrs use a Perpetual Vault by minting a PVT by depositing their stable coins into the vault, then when they exit the system they swap their PVTs for stablecoins on Uniswap
This enables affiliates to recommend users into the vaults and build a system that can stablise the value of its receipt token (PVTs)
Weâve got a unique architecture!
The Perpetual Vaults are a selection of the best of the DeFi ecosystem. It generates those returns for you to claim or compound your returns when you desire.
If you no longer want great returns generated by Perpetual Vaults you can simply Swap your PVTs for your favourite stablecoin on your favourite decentralized exchanges or Send them to a friend.
done
Bà Tân | : Question3. What role does the $SDG token play in your ecosystem? how to buy $SDG Token?
Rossco Paddison â SyncDAO.com : SDG (SyncDAO Governance Token) is our governance token that gives token holders voting rights within the ecosystem. SDG holders can submit proposals, vote, and direct the development of the vault strategies and DAO, making this project truly decentralized.
The token will be available via Uniswap on launch in November!
The protocol will own a liquidity too which SDG holders will vote on what happens with that also!
done
Bà Tân | : Question4. Can SyncDAO team please update some SyncDAO latest news or major events to attract more users?
Paul Holland â SyncDAO : We have had a lot of progress especially in the last quarter. In that time we have;
Affiliate layer secured!
updated the SyncDAO brand
launched a new website at syncdao.com
Secured 20 big name KOLs / Influencers for launch
increased our tech capability as we keep building the Perpetual Vaults
worked out a killer edge for the mobile experience
secured 2 top tier Launchpads for our TGE
put final tweaks on the tokenomics
brought quality investors into our final presale (which is complete)
Over 2.5million entries into our airdrop competition syncdao.com/gleam
Added a NFT game to the roadmap! With design already happening.
Done
Bà Tân | : Question5. What is the future development roadmap of the SyncDAO Project?
Paul Holland â SyncDAO : Once we have launched our Perpetual Vaults we have many exciting things in the roadmap;
- Developer collaborations with PVTs
- Wallet Launch
- Layer 2 Deployment
- NFT Release
- Game
Then we will continue to develop the product;
- New Vaults
- Auto Compounding
Done
Bà Tân | : End of session 1
Bà Tân | : We will move on to session 2
Bà Tân | : Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1453178057393459202).
Bà Tân | : Question1. @HaNacapa20
Partnership is an important and impactful thing to bring in more users, with whom does SyncDao currently partner? What benefits does SyncDao get and vice versa?
Rossco Paddison â SyncDAO.com : We start announcing partnerships in two weeks time. You are right, they are critical to a projects success
we have a number of top 100 projects that we have advanced final stage conversations happening with, plus ones already secured with two top 50 projects that we cannot announce yet, sorry.
We partner with projects in a few ways:
- We use core defi projects to help generate returns for our users
- we use other projects infastructure to secure our platfrom
- we have an affiliate layer which enables other project to eern by utilising our infastructure
- co marketing and co events like hackathons are definitely important too
we are always looking for introductions to strong projects too!
done
Bà Tân | : Question2. @MrBevios
How profitable is SyncDao to sustain your project? What is your business model? How can you bring mutual benefits for both your investor and your project?
Paul Holland â SyncDAO : The unique architecture of SyncDAO means that the DAO will always have increasing revenue as users deposit into the Perpetual Vaults.
As userâs mint PVTs when they deposit and then swap those PVTs on exchange to exit, the underlying capital that was deposited remains in the Vault earning returns.
A % of the returns flows back to the DAO so that the DAO can have ongoing revenues to help fund its growth.
The governance token holders can decide how to use those funds
Done
Bà Tân | : Question3. @TridetPrana
Smart contracts are prone to failure and many projects fall victim to this, costing users money and the project discrediting. How reliable and secure is your smart contract? Have you audit it through any of the parties?
Rossco Paddison â SyncDAO.com : Yes agreed smart contracts must be rigorously tested to ensure their safety. We have a few things we are doing to ensure safety:
- We had our affiliate layer smart contract ordered by quantstamp and will have our perpetual vaults audited by Hacken
- we will continously get audits as we launch upgrades or network changes
- we are going to launch product first with a small group of beta users, to test product live on chain for a few weeks before opening up to everyone
- we will have bug bounties avaialble from day one on the code also
happy to hear any other suggestions too, as security and a safe user experience is the most important thing to us
done
Bà Tân | : Question4. @Lidiamga
How to start in SyncDAO Minting a Perpetual Vault Token (PVT), what would be the minimum investment and from where can I deposit? Can Perpetual Vaults be distributed quickly and safely, what is their response capacity and the security they use in case of emergency?
Paul Holland â SyncDAO : Perpetual Vault Tokens will be minted by depositing stable coins. You will be able to do this at syncdao.com once the product goes live after launch. There will be no minimum deposit so anyone can get involved.
As Rossco said in the last question, the smart contracts will be fully audited before launch and we will have ongoing audits to ensure the safety of the Perpetual Vaults.
We also have the ability to freeze and upgrade the contract if we need to because of a security issue. We think this is very important to ensure the safety or our users funds
Done
Bà Tân | : Question5. @Kenelmforid1
Most investors simply focus on the price of the TOKEN in the short term, and not on the real value of the project. Can you tell us about the motivation and advantages of token investors in the long term?
Rossco Paddison â SyncDAO.com : With DeFi 2.0 the SDG protocol will have a treasury, similar to other protocol owned liquidity projects. Long term we see this attracting quality long term focused investors. It is to be expected that some early investors will sell some tokens, thats why we have strong vesting terms too.
We beleive the SDG token will also be used to drive community driven campaigns to grow liquidity on many chains!
done
Bà Tân | : Congratulations to the winners of session 2.
@HaNacapa20
@MrBevios
@TridetPrana
@Lidiamga
@Kenelmforid1
Bà Tân | : Alright, Session 2 has finished perfectly. Appreciate your detailed responses @paulfholland, @Rosscopaddison ���
Bà Tân | : End of session 2
BĂ Tân | : Weâll move on to session 3
Bà Tân | : Sessions 3: The conversation will open to the community questions and the best questions will be selected.
BĂ Tân | : Donât forget to join the group https://t.me/syncdao
Bà Tân | : Group will unmute now so everyone can ask questions.
Bà Tân | : Thanks for the questions from the community.
BĂ Tân | : Now letâs give our dear guest @paulfholland, @Rosscopaddison some time to go through them.
Bà Tân | : @paulfholland, @Rosscopaddison Please choose the best 5 questions and answer it for session 3
Q1. Sir, Community is very important for a project. While you build your project, do you take into account community feedbacks and demands?
Paul Holland â SyncDAO : This is a great question as we are very focussed on our community and learning from them. We first identified the user experiecnes challenges we want to solve by talking to people in our community about the problems they were having with crypto.
In our Community now we are doing a few things to learn from them and find out what what they woudl like to see.
Last week we ran 2 DeFi masterclasses, teaching people how to safely earn returns while still being able to generate wins on speculative plays. We then asked for feedback on the education and what more they would like to learn and see in the project.
this week we are gathering data on peoples reasons for being in crypto and their challenges. All of this will lead to us building better product.
Q2. Staking programme is very important for any project, Can i stake your token? Do you have any plan of starting staking programme?
Rossco Paddison â SyncDAO.com : Our tokenomics have some strong staking incentives! syncdao.com/tokenomics has our tokenomics and you will find we are using half of all our token for liquidity mining rewards, so the APYs will be strong ���
When you use the perpetual vaults this will make this possible!
Q3. Does your project already have AIRDROP open?
Paul Holland â SyncDAO : Yes, we have an airdrop promotion running now and we would love if you want to get involved. There are many steps you can take to earn entries into the airdrop with $20,000 of SDG in prizes. You can get started at syncdao.com/gleam
Q4. What is the meaning of the name of the project and why did you name it that way?
Rossco Paddison â SyncDAO.com : Sync is short for the word synchronise, and DAO means decentralised autonomous organisation. We want to help people sync their defi portfolios all in one place through PVTs
Q5. Currently, market is becoming very bullish on NFT trend. Can you share your opinion on NFT as a player in the NFT market? And does SyncDAO have any plan with NFT?
Rossco Paddison â SyncDAO.com : We have an NFT game coming out next year (already being designed right now)
it will include:
- PFP Generative NFT collection to fund RPG Deck Building game and âPerpetualâ Prize Vault
- Players âPlay to Winâ Perpetual Prizes & Daily Bonuses
- Additional in-game credits are âEarnedâ from adding to Perpetual Vault deposits
- Affiliate growth hack with âinvite friendâ function in game to convert game users to PVT holders
Bà Tân | : Congratulations to the winners of session 3 SyncDAO
@Hoangz71
@sty_schulz
@Hoang_Anays72
@choivoi
@Ronsiemay2kl
Bà Tân | : Thanks for the useful information from @paulfholland, @Rosscopaddison
Bà Tân | : End of session 3
Bà Tân | : For questions that have not been answered today, you can send them to @syncdao for answers.
Rossco Paddison â SyncDAO.com : thanks for having us!
Bà Tân | : IM Community, if you would like to know more about SyncDAO ! here are some useful links for you:
Official Website: https://syncdao.com
Twitter: https://twitter.com/syncdao
Telegram: https://t.me/syncdao
Medium: https://medium.com/syncdao
Discord: https://discord.com/invite/UBYmp7HvE5
Facebook: https://www.facebook.com/SyncDAO
Bà Tân | : Allright, I declare the Im Community AMA with SyncDAO has ended.
Thanks to @paulfholland, @Rosscopaddison | SyncDAO joined us and provided us with SyncDAO information, we hope that this knowledge makes us understand more about https://syncdao.com (https://syncdao.com/)
To the members, thank you for following this event to the end. winners will be announced soon.
Paul Holland â SyncDAO : Thank you for having us for this AMA. Please join our telegram @syncdao and our Discord syncdao.com/discord
Paul Holland â SyncDAO : Also enter airdrop at syncdao.com/gleam
