Syndicate

Syndicate is a decentralized asset management platform and social network creating an investing syndicate.

The decentralized autonomous organizations (DAO) services startup aims to streamline the DAO creation process with the launch of their product called “Web3 Investment Clubs.” This feature allows users spin up a group of about ninety-nine participants, pool their capital, then vote as a group on where the funds will be invested. Syndicate co-founder Ian Lee says that the product provides users with the ability to form a DAO with the “peace of mind to help maintain compliance and do the right thing for their their members.” The company’s wider goal is to streamline the formation of the groups and the investments in tokens and NFTs. The “investment club” branding is one of several efforts to demystify DAOs for a larger group of users—in this case investors—and develop a different path for users that may have been thinking about the creation of an identical investment vehicle utilizing more traditional non-crypto financial services.

The company offers a step-by-step guide to setting up a DAO. Apart from the setup guidelines, Syndicate provides a dashboard where users can assess the holdings of their club and past activity. The company plans to make these clubs flexible for users depending on their particular situations and tolerance for legal ambiguities. Some guidelines exist for accredited and non-accredited users, including DAOs that have members in the United States. Syndicate provides basic guidelines that all prospective club admins should know—for clubs with unaccredited investors in the United States, all members are required to vote on every decision—but implementation is left up to end users. The company’s collection of smart contracts is available to guide users through the process of formalizing their club with a legal entity and taking care of things like bank account setup, and tax form procurement to make sure that stuff stays above-board.