Singapore, Nov 18, 2021 (GLOBE NEWSWIRE) – (via Blockchain Wire) DeFi startup SyncDAO has announced its partnership with MantraDAO to use their decentralized Zendit launch pad for their IDO.

Through the use of Layer 2 solutions, Zendit will help SyncDAO reach a wider audience and introduce more users to the opportunity to participate in DAO governance, an exciting new development that empowers people to contribute meaningfully. to the communities they choose. be part of. MANTRA DAO’s use of proven Layer 2 scalability solutions will ensure that these services are fast and compatible between the two projects.

“Working with a team that focuses on improving the entire space was very important to us, which is why we chose to work with MANTRA DAO. Their goal of putting people back in financial control was philosophically aligned with our goals at SyncDAO and made it an easy choice to partner with them. – Co-founder of SyncDAO Paul Holland

“The launch of SyncDAO on Zendit is a great opportunity for us to introduce our community to a DeFi solution that is sorely lacking and lacking in the space. The combination of SyncDAO’s perpetual vaults and their affiliated smart contract layer is a product that kills ”- John Patrick Mullin, co-founder of MANTRA DAO.

The partnership with MANTRA DAO is just one of many that the SyncDAO team is announcing ahead of its official launch.

SyncDAO seeks to give new users a straightforward introduction to DeFi where they will ultimately be able to access the best of DeFi feedback from multiple protocols from the SyncDAO interface, thus removing the need for the user to understand the complexities of multiple platforms.

With their unique Perpetual Vault architecture, users simply wager their Perpetual Vault (PVT) tokens to choose the return they want to earn. Working with MANTRA DAO will also serve to present to a wider community all the opportunities of decentralized finance.

About SYNCDAO

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 Vaults is straightforward. Users create 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.

About MANTRA DAO

Mantra DAO is a community-run DeFi ecosystem that focuses on staking, lending, and cross-chain DeFi products. MANTRA DAO has built a DeFi suite of services comprising a multi-asset staking platform, a money market lending protocol, a gamified lottery pool and a token issuance launch pad. The suite is natively built on Ethereum, with cross-chain products currently on Binance Smart Chain and Polygon, and is currently working to launch these services on Solana, HECO, and Polkadot in the near future.