Recapitulation of SyncDAO PROJECT AMA event held at AMA LOVERS CLUB.

Venue: https://t.me/amaloversclub
Date: Tuesday, 16th November, 2021
Time: 20:00 UTC

The SyncDAO PROJECT team was represented by @Paulfholland and @Rosscopaddison who judiciously shared with us detailed knowledge and information about SyncDAO PROJECT.

1st Segment: INTRODUCTION

Q1: Can you please introduce yourselves and your background, also introduce the team working on SyncDao?

ANS: Hey there, I’m Paul and I’m the COO at SyncDAO. I’ve been involved in the crypto space for the last 4 years and DeFi since early 2019. I love the difference that crypto and DeFi are able to make to people and financial systems all over the world.

I'm Rossco Paddison the CEO and Cofounder of SyncDAO.

I’ve been using DeFi since March 2018 when it had circa 400 users. I got quickly obsessed with what it makes possible for us all. I have personally trained over 10,000 consumers (retail users) to download their first crypto wallets and get started in 2017-18 also. I love seeing people get the “crypto aha” moment.

Our key team members include our CTO, Roman Tsavorsky who as well as having great smart contract skills was also a former financial advisor so brings that unique understanding to the project.

Our product champion Kevin Mendoza is across all thins crypto and somehow never sleeps.

We ahve a great team of engineers and community admins that are spread across the world

Team wise, some killer hires there!

Kevin Mendoza our Product Champion has also trained a few thousand users in his community Crypto Collective and his main role now is to continue to work on the front lines to help us refine our product ongoingly.

Connor Rankin our community manager is also in the community for Impact Theory w/ Tom Bilyeu and an absolute gun, heading up a team of six mods

Plus others contracting to us on our NFT PTE-W Game with ten years at blizzard on world of warcraft game design beforehand.

Q2: Can you introduce SyncDao, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?

ANS: SyncDAO was conceived with two main aims in mind. Firstly to make DeFi easier to understand and access for a new user, and secondly to reward Affiliates for onboarding people into DeFi.

While there is a great narrative about cutting out the middle man with DeFi, the reality is that most new users need someone to show them the ropes, help them download their first wallet etc and we want those people to be rewarded for the hours they spend helping grow the space.

So the competitive advantage beyond the obvious affiliate layer that wraps around our core product of Perpetual Vaults is that our product itself will give people an all-in-one best of DeFi soluion aimed at first time users.

The Perpetual Vault is designed in a way that TVL only goes up and this goes a long way to building considerable protocol owned liquidty also.

The product will allow users to earn returns form the best of DeFi in one dashboard. The user woudl be able to choose to earn on USDT form Yearn, USDC from Aave etc, all in one interface, using one token, our Perpetual Vault Token

The vaults are called Perpetual Vaults as when a user deposits, they stable coins go into the vault and they mint PVTs. To exist they swap their PVT on exchange meaning their original capital never leaves the vault, hence the name perpetual vaults and why TVL can only go up

Also our army of affiliates / influencers will become an unrektable force too!

Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?

ANS: 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
- Luanchpads secured (another whitelist announcemen dropping tomorrow!)
- Brought quality investors into our final presale (which is complete)
- Continued to expand the team,
- Over 2.5million entries into our airdrop competition syncdao.com/gleam
- Added a NFT game to the roadmap! With design already happening.

Also some notables beyond that:

- We are building an analytics tool with BanklessDAO

- About to use / partner with chainlink for pulling affiliate link without exposing peoples wallet address

- Working on partnership with UMA for rewards through a KPI option

- In talks with OpenDAO and confirming partnership to add a bitcoin perpetual vault

and daily about 3 partnership convos happening rn, so heaps to announce in coming weeks on this front for sure.

Q4: Can you briefly describe your PARTNERSHIPS so far?

ANS: Some here plus more I will note down

Again these are in progress and unannounced so your hearing them here first

- OpenDAO have 21%apy onn BTC we are going to bbuild a vault around that

We have had great chats with Forward Protocol also. They have a great tool for tracking value transfer that we will be using within our affiliate system to reward affiliates who not just introduce people, but also add real value in the community

- Media colloboration with BanklessDAO around a yields analytice tool we are building,, we will be getting defi rates listed in major media publications through this, leading back to our site etc

- Tons of ramp partners

can load up money from 162 countries 🙂

- A bunch of CEXs we are in chats with to have them list SDG and PVTs also

The UMA partnership is exciting to me as well. With their KPI option, we can incentivize people to earn scaled rewards based on various targets. For example, if we ran a TVL promotion, the amount of reward available to participants can be scaled up as greater results are acheived

A couple of NFT game collaborations on the cards too.

Q5: Can you give an overview of the Tokenomics and Utility of $SDG tokens?

ANS: Sure, SDG or SyncDAO Governance Token is what it says it is, a governance token!

Members will be able to submit proposals and vote on core changes to the business

SDG is not mintable with a 2b total token supply

Total supply of $SDG is 2BN with 50% of that going to product usage rewards over the next 4 years. We also have incentives for affiliates and developers over 8 years. This means in total 63% of our token will go to the community as they use the product or support the DAO to grow

Also PVT or Perpetual Vault tokens are the tokens used for the product itself.

1 PVT = 1 USDT

Each time a user deposits into a Perpetual Vault a new PVT is minted.

We have designed the vesting over those longer time frames to support the long term growth of the DAO.

2nd Segment: LIVE Questions

Q1: - I read that you are 3 years into this project and you're just preparing to launch, that's really a long time, can I ask the reason for the delay? It must have been quite challenging, were you able to come up with new and better ideas during this time?
- Is it true I'll be able to earn a percentage of the interest on my referral future deposits? How will this work?

https://twitter.com/ZekeJay5/status/1460694247284174850?t=oOZ_ECo5X5gxqIyFO57i2Q&s=09

ANS: Yes that's right previously we were working on Mosendo.com which we still have all the wallet architecture from which we will be using in SyncDAO. The problem we faced there was criticsim about our go to market plans. Which led us to thinking through how affiliates could be involved to help grow the business. It was valuable time to learn tons more about the market, defi and infastructure that has made us much stronger as a result too.

How Perpetual Vaults work for affiliates, users and the dao:

Eg. If a user deposits $1,000, they can mint 1,000 PVT. If the interest rate is 20%, the return at the end of 1 year is $200.
85% ($170) goes back to the user
10% ($20) goes to the affiliate
5% ($10) goes to the DAO treasury & members can vote on what to do with the DAO.

Q2: Knowing that the focus of the project is to refer people to generate some commission for reward, this would be a pyramid. Isn't it true or what difference does it have to a pyramid?

https://twitter.com/Josueyoung9/status/1460702102133608451?t=GiLEbSffB6bDBqol4Xf-6w&s=19

ANS: Pyramid schemes rely on you continually adding people to a scheme and that is how the retunrns are generated, from people paying to get in.

Our model is nothing like that. Firstly, there is no multi-levl commission, just a single tier of reward. That reward comes from a small % of the returns that are geenrated on the users deposits. If a user un-stakes their PVTs, the referrer is no longer earning their commission.

Think of it more like a traditional financial planner, where they get rewarded with a commission for introducing people to a mutual fund or an insurance product.

Q3: Are you building #SyncDAO to be able to survive and thrive in volatile markets. You must know market are quite unpredictable these days.

https://twitter.com/Hot32732298/status/1460703571427483648?s=20

ANS: Yes! SyncDAO will thrive in all market conditions imo. Especially bear markets! Because one of the vaults is focused on DCA - Dollar Cost Averaging, meaning people will be able to deposit stablecoins and earn ETH for example. So that way they can invest lots with no risk of downside in a bear market. Which makes it VERY attractive beyond what we've seen in DeFi summer 1.0

Q4: When is the voting Mechanism going to be Lauched on SyncDAO ?

https://twitter.com/obissy3/status/1460703812541427715?s=21

ANS: As soon as the product is live, voting will be enabled. In the early stages we will be using Snapshot for voting.

Q5: You have written on your website that Earn Up To 35.89%* On Your Savings, But how do you give this much return?
Where do you invest the savings of Depositors to give 35% return?

https://twitter.com/Rakshhit/status/1460701896658722818?t=w6tIbx9ZgsuGmGUJZcpoEw&s=19

ANS: Great quesiton, this is based on some intial conservative estimates. The apy is made up of two parts, base rate of return plus reward rate of return.

We have seen in that same modelling much higher apys in short periods of tiime too.

Q6: I read that anyone can be rewarded for referring new users to the Perpetual Vaults. How can I refer my friends to the Perpetual Vaults a d how will I be getting rewards for each referral?
https://twitter.com/Gwen50027747/status/1460668303261765638?s=20

ANS: Once we are live, you will be able to claim your own unique url that you can use to itroduce people to SyncDAO.

Your url will be associated with your address so that when a user deposits and stakes their PVTs, 10% of the total interest generated will be sent to your address. You will continue to earn as long as the user has their PVTs staked.

As you refer more users who deposit and stake, you will build yourself an ongoing revenue stream.

with 4 years of liquidty mining incentives factored in.

Q7: I'm a novice in crypto that have been hearing all the hype about DeFi but then it has been a bit complicated for me, so will SyncDAO be user friendly for newbies like myself? Is the staking process simple and straight forward?

https://twitter.com/jennifernyere/status/1460698340841062404?t=CiF-qRCl8vqLXK4cx6lAXQ&s=09

ANS: Thats certainly our intention, but beyond that our community we have weekly DAO Chats where we educate people from all walks of life on how to use not only our defi products but many to create unstoppable wealth for themselves too. We are very much of the thought that we win this game by supporting YOU and other community members to win no matter what!

Q8: Can you give me details of how to win $PVT tokens through the Gleam contest And if that money if I am one of the winners, I can put it on the same platform to generate compound interest this year (APY)?

https://twitter.com/michell_marchan/status/1460701659680624641?t=SlD63MBqmd9jmvGv3eTOrg&s=19

ANS: Our Gleam contest is going really well and it allows you to win $SDG, our governance token. $PVT are created when you deposit into our perpetual vaults

To win, you just need to complete the actions, like following our profiles, retweeting us, joining our communities etc.

You can enter at syncdao.com/gleam

Follow Us On Our Various Social Media Communities For More Update;

syncdao.com
syncdao.com/discord
syncdao.com/twitter
syncdao.com/telegram

syncdao.com/gleam for our airdrop

syncdao.com/resources has our deck, tokenomics etc and links to all our channels

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