SyncDAO is launching a new platform for the next generation of financial consumers, who get their financial advice from a new source: Finfluencers.
– Rossco Paddison
SYDNEY, AUSTRALIA, October 11, 2021 /EINPresswire.com/ – SyncDAO is launching a new platform for the next generation of financial consumers, who get their financial advice from a new source: Finfluencers.
The current generation of young adults around the world get financial information in a completely different format than previous generations. With the convergence of the growth of mobile social media and financial services applications, financial advice is taking on a whole new face. Most of the time, this financial advice is free compared to working with a financial planner, with fees of up to 1% per year or flat hourly rates. For young people who start investing, the fees eat into the little money they have.
On TikTok, the hashtag #FinTok has received over 500 million views and #Cryptocurrency has garnered over 2 billion views. Compare that with the hashtag #FinancialPlanning at only around 12 million views. FinTok is the TikTok sub-community, featuring users who create financial content, with tips on investing, saving, and cryptocurrency.
“When you look at how today’s younger generation learns about finances, it’s clear that social media channels are their go-to source,” says Rossco Paddison, CEO of SyncDAO. “Banks and financial planners are not providing the services Millennials and Generation Z want. At SyncDAO, we are designing a new platform using decentralized finance (otherwise known as ‘DeFi’) to create a social community around wealth creation. “
There are hundreds, if not thousands, of active influencers on TikTok as well as Twitter and Instagram. For this reason, users should be careful who they listen to, especially if they are making financial decisions based on content. Financial planners offer the confidence of working with a certified professional, which Finfluencers does not in most cases provide. But there is a gap between the services provided by financial planners and the demand for engaging and informative content online. Consumers need to do their own research and understand where they get their information from to ensure they are making smart financial choices.
“For SyncDAO, creating a community that users can feel safe in is something we spend a lot of time fostering,” adds Paddison. “We want people to feel comfortable trying DeFi for the first time through SyncDAO. “
According to a recent Bloomberg article, investment firms Betterment and Wealthfront have hired some of the most famous influencers, including Austin Hankwitz, who has more than 500,000 TikTok followers. Hankwitz creates content and refers businesses to both traditional finance companies and cryptocurrency companies. Hankwitz makes finance fun – something financial planners have struggled to do. And his engaging style, coupled with his audience’s trust, has resulted in tens of thousands of accounts being referred to financial institutions.
“We see this trend with Finfluencers continuing to grow, and so we’ve designed SyncDAO to be easily shared by anyone who wants to be a Influencer within their own community, regardless of the size of their audience, ”says Paddison.
Influencers can earn anywhere from $ 100 to over $ 20,000 per social media post, depending on the number of their followers and the specific promotion. SyncDAO offers Influencers, whatever the size of their subscribers, the possibility of earning recurring passive income thanks to the power of DeFi.
SyncDAO users generate returns through Perpetual Vaults. Chests allow users to deposit cryptocurrency and earn stable returns for as long as they want. SyncDAO enables Influencers to win by educating new users on how perpetual vaults work. When users deposit using their link, they earn a commission for introducing the new user. So whether you are Austin Hankwitz with over 500,000 followers or someone with 5 followers, people are empowered to help others make positive changes in their financial lives.
“Thanks to Finfluencers, we see a whole network of people educating others about DeFi, saving the fees that people normally pay advisors for advice,” says Paddison. “We give people the tools to positively influence not only themselves, but also their communities. “
SyncDAO is a decentralized autonomous organization (a DAO) founded by Rossco Paddison and Paul Holland. SyncDAO aims to bring DeFi to the mass market by prompting references to its easy-to-use platform that offers the best of DeFi yield generation protocols through its perpetual vaults. SyncDAO launches the first Perpetual Vault in November.
HOW PERPETUAL CARS WORK
The process of working with perpetual safes is straightforward. Users mount perpetual vault tokens and deposit them in high interest vaults. They can choose to earn interest in Stablecoins or can instead choose to be paid in a volatile currency like Ethereum, giving them the ability to continually convert the dollar cost into a blue chip asset that can appreciate over time.
With the SyncDAO Affiliate Smart Contract Layer, anyone can be rewarded for referring new users to Perpetual Vault. These rewards will be a percentage of the interest earned on deposits made by their arbitrators. All of this is handled without authorization through fully audited smart contracts on the Ethereum blockchain.
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