Announcing DestinyDAO: A decentralized reserve currency, guarding and growing your wealth on the Binance Smart Chain
What is Destiny DAO?
Destiny DAO is a decentralized reserve currency, forked from the successful and secure Olympus DAO. Destiny will utilize the familiar bond-and-stake methodology,
in order to raise treasury funds and reward early supporters. This ensures that the Destiny retains ownership of the protocol’s liquidity, to enable consistent, unstoppable growth.
Why Destiny DAO?
The Destiny is a community-owned venture fund, and will be investing in the most promising, lucrative, and long-term growth potential DeFi protocols across various chains.
DeFi (Decentralized Finance) has experienced unprecedented growth in the last two years. However, the overwhelming majority of the profits have accrued to individual whales and institutional investors. These individuals have the time, capital, and connections to identify and immediately execute on the most lucrative opportunities. Unfortunately, this makes DeFi eerily similar to the decrepit world of CeFi (Centralized Finance).
Destiny DAO changes that. We engineer life-changing investment opportunities for the common man.
What’s Next for Destiny DAO?
The Destiny will raise funds using the bond-and-stake model pioneered by Olympus DAO, with the goal of accumulating a $100M+ treasury. The Destiny targets an early staking APY of ~1,000,000% to reward early adopters and fast-track the DAO’s capital accumulation milestones. The APY will then be gradually tapered to sustainable levels, providing consistent passive income and capital growth.
Destiny DAO will transition full protocol governance to stakers of our token, $FTL. Holders of the staking receipt, $sFTL, will have voting rights on allocation of treasury funds. Further treasury growth and, therefore, the token’s intrinsic value will be driven by a large pool of investment capital.
In many ways, Destiny DAO is inspired by the vision of Daniele’s Wonderland Money: an “ICO for a DAO [that opens] the doors of opportunity” for all, not just influencers and venture capitalists. Every single investor in Destiny DAO, even the very smallest, will be able to participate in the enormous wealth creation potential of DeFi.
Stay safu inside the deck of the Destiny and 〖3 ,3〗 together with everyone as you watch our treasury grow… No need venture into outerspace by yourself.
How will Destiny DAO work
Initially, the focus will be on bootstrapping the treasury and the liquidity for our native token, $FTL, with a limited-access presale.
- All smart contracts will be published on GitHub
- Smart contracts will be verified before the presale
- Presale participants will provide a capped amount of BUSD in return for an allocation of $FTL
- Funds raised from the presale will be split between (1) the Destiny DAO treasury, (2) provision of FTL/BUSD liquidity on DEX, and (3) a direct allocation for team members
After presale, we will provide FTL/BUSD liquidity on a PANCAKESWAP and release the bonding/staking dApp:
- Holders of $FTL will be able to stake their $FTL and access a targeted ~1,000,000% APY
- New investors will have the opportunity to mint $FTL at a discount by bonding FTL/BUSD LP or or BUSD alone
After the presale and the launch of the staking dApp, our next focus will be on ensuring maximal security for our users and investors:
- Code will be audited by a leading firm such as Certik or Quantstamp
- Treasury funds will be kept safu behind a multisig held by the core administrators team and community voted member
When will Destiny DAO launch?
Soon. Currently, we’re working hard to build and test for launch and to perfect our marketing. Our presale plans will reward early supporters and quality contributors.
Over the next week we’ll unveil detailed information on our Roadmap, Tokenomics, Development & Protocol Mechanics, and Presale. We’re working nonstop to get these finalized and will announce them in a separate post.