The popular social investing app Zignaly is moving to decentralize its operations by launching a decentralized autonomous organization (DAO). It is after five years of operation that the company is now extending its social investment platform further into the DeFi world via ZIG DAO.
Zignaly boasts of more than 430,000 users globally and handles over $5.6 billion in trading volume. The company currently has $120 million in assets under management.
The world’s largest expert-managed social investing platform is focused on empowering crypto investors who are looking for better results with less risk by investing through proven, vetted professional managers on its platform.
With the launch of the ZIG DAO, the company aims to unlock the power of not just its platform, but also the community, in an effort to dramatically extend the range of its Web3 investments. This move will enable Zignaly to include NFTs, metaverse real estate, DeFi staking and LPs, and any new types of investments – and that, too, without the constraint of centralized exchanges.
Zignaly is particularly known for being a crypto trading software with a profit-sharing theme which has served to attract some of the cryptocurrency industry’s top traders and funds, who share their knowledge and insight to help guide the community. Zignaly users can then invest in these expert traders’ moves and tap into a mutually beneficial profit-sharing model.
1/ #Zignaly’s Profit Sharing offers a unique opportunity for investors to get in on the best crypto strategies, in a simple yet effective process 💎
There's no monthly fee and you pay only when you make a profit.
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— Zignaly (@zignaly) June 1, 2022
“Our mission at Zignaly has always been about more than just broadening access to alternative assets – it’s about a passive income revolution for everyday investors,” said CEO Bartolome R. Bordallo. “Rather than agonizing over every trade or consulting so-called crypto influencers for help reading the tea leaves, Zignaly empowers everyone to profit from the investment moves made by experts with transparent performance histories.”
A Community-Led Platform
Over the past five years, Zignaly has gained tons of traction; and now, with the launch of its ZIG DAO, the company is extending its mission to provide a truly community-led and decentralized platform to power the future of Web3 investments.
The cryptocurrency industry is the future of the internet. This decentralized future, dubbed “Web3”, promotes collective ownership, accessibility, and open services that are not controlled by tech behemoths like they are in the current state of the internet.
The future landscape of this Web3, which can be seen as the “read/write/own” version of the internet, is DAOs. Indeed, these organizations are expected to spur the next wave of user adoption in Web3.
The crypto space experienced phenomenal growth in 2021, and DAO was one of the biggest buzzwords of the year. One of the main benefits of DAOs is their high flexibility and low regulation.
DAOs are typically organizations run by a group of individuals who establish their own governance and make decisions executed by smart contracts on the blockchain, while at the same time removing the need for any single point of control.
They can actually serve as a direct avenue for investments and the accelerated adoption of DeFi. By utilizing cryptocurrencies, DAOs allow for low costs and near-instantaneous peer-to-peer transactions that are not subject to the stipulations of traditional finance institutions. Members can then generate better returns than assets held in a traditional financial institution, thanks to lending or transaction fees.
Empowering the Community
Now, Zignaly is building the ZIG DAO around its community to empower everyone involved to reach their financial goals by opening up access to a much broader range of investment opportunities.
“We’ve spent five years providing the expert-managed social investing tools that help every user reach their crypto investment goals, and now it’s time to decentralize and expand,” said Bartolome, further adding that: “with the launch of ZIG DAO, we have extended our mission by introducing a truly decentralized organization that puts the powerfully in the hands of the community. This enables the community to leverage the power of Zignaly while removing any chance of meddling or control from the exchanges or from Zignaly.”
With this new step in the journey, the company intends to enable new forms of social exchanges of value between people, groups, and organizations of every size. The idea is to have this DAO empower the likes of self-formed hedge funds and decentralized marketplaces, where a range of expert traders, fund managers, and crypto investors with transparent reputation stats and track records are able to freely collaborate around a passive investing model, within which both sides are incentivized and share the profits.
Additionally, the platform enables individuals to offer their expertise to Zignaly’s community of more than 400k users, without the constraints of having to create their own solutions or market their services.
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