- syndicate.io
- @SyndicateDAO
- Discord
- Syndicate founders are Ian Lee and Will Papper
- Syndicate was founded in January 2021
- Positioning like platform for creating investing DAOs, or investment clubs, and fundraising, that transforms any Ethereum wallet into a powerful investing DAO in seconds for just the cost of gas. It costs between 90-180 gwei ($100 – $250 depending on prices and demand) to create an investment club on Syndicate.
- Currently ETH and USDC tokens are available to be invested.
- Had funding from Coinbase Ventures, Ashton Kutcher’s Sound Ventures, and Snoop Dogg Ventures.
Syndicate features
- The upper limit of the club’s raise – accepting deposits beyond this amount will require an on-chain transaction with gas.
- Club deposits close date. Extending the close date will require an on-chain transaction with gas; the ability to close deposits early if needed.
- Maximum number of club members allowed (up to 99); all members must be actively involved in all investment decisions through a vote.
- Minting governance token. Club tokens are automatically minted and transferred when a member deposits funds into the club.
- NFT membership (private beta) – the ability to plug metadata into NFT collections for community building.
- Token gate deposits into a Syndicate via ERC-20 or ERC-721 (to be added soon)
- Option, powered by doola, to attach legal entities, legal docs, EINs, open bank accounts, issue K-1s, that are powered by ERC-20, making them out-of-the-box composable with any DAO and Web3 tool like Gnosis, Snapshot, etc.
- Investments could be recorded into off-chain assets (e.g., startup equity, SAFEs, convertible notes) and attach off-chain memos, metadata, and links that display on the investment club’s dashboard.
An investment club’s tokens are non-transferrable, represent ownership, and are intended for things like on-chain governance for a particular club.
Major Syndicate DAOs (Investment Clubs)
Summary
Syndicate is positioned as a fundraising method that’s as easy as connecting a MetaMask wallet. Currently, interface features are inferior – one can’t remove members from the club, create club management, reopen clubs to deposits, change deposit settings, etc. To carry it out, the user should contact Syndicate support to do it manually. According to it, the stated share – 10% of all DAOs created on the Syndicate platform – is exaggerated, and the platform’s popularity in social media is due to the company’s partners and mentions. The main distinguishing feature of this platform is the ability to add legal entities.