IRA DAO: Mass Adoption Accelerant

By Rekt | DAO | 31 Mar 2021

The hierarchical corporate organizational structure is being upgraded into a horizontal, egalitarian, collaborative entity structure in the DAO, decentralized autonomous organization. 

While this governance shift will be disruptive, the need for retirement for the populace of a nation will be a constant, especially with fiat printing presses going "BRRRR". The most effective vehicle for staving off forthcoming austerity measures and political firestorm is one that already exists: the individual retirement account or "IRA". 

Contributions to this account, under one's control, are tax-deducible and not taxable until retirement, typically one's lowest earning years, exposing them to a less painful bite by the tax man. 

The variations of IRAs are abundant: traditional, Roth, SEP, SIMPLE, rollover, conduit, and self-directed. Custodians can be banks, brokerages, robo-advisors, life insurance companies, or one's self.

IRAs are also shielded against bankruptcy and may civil lawsuits, affording a level of protection for citizens unlike most any entity structure that one is the beneficiary of, with a strong case history asserting this truism. 

  • 98.5% of taxpayers have IRA account balances at $1,000,000 or less.
  • 1.2% of tax payers have IRA account balances at $1,000,000 to $2,000,000.
  • 0.2% (or 83,529) taxpayers have IRA account balances of $2,000,000 to $3,000,000
  • 0.1% (or 36,171) taxpayers have IRA account balances of $3,000,000 to $5,000,000
  • <0.1% (or 7,952) taxpayers have IRA account balances of $5,000,000 to $10,000,000
  • <0.1% (or 791) taxpayers have IRA account balances of $10,000,000 to $25,000,000
  • <0.1% (or 314) taxpayers have IRA account balances of $25,000,000 or more

These are splendid account structures for investment in alternatives assets such as interest-bearing stablecoins or crypto. 

A property diversified portfolio will have exposure to a considerable range of assets, ideally not correlated, that can provide a higher probability of delivering the returns necessary to sustain one's golden years. If one has 1% of one's portfolio in an alternative asset that goes 100x then the entirety of the portfolio just doubled, even if the other 99% remains flat. This is a powerful understanding and speaks to the importance of including alternative assets that has decent possibility of aggressively appreciating. 

IRA DAO is a group of blockchain engineers, software developers, and experienced accountants that have collaborated to create a horizontal organization that allows good ideas to filter to the top and keeps the focus on the project over the personalities involved. Discussions take place on Reddit. Governance votes takes place on the xDAI blockchain's DAO, hosted by 1Hive's Aragon DAO fork.

The product offered is a stablecoin, or crypto-linked token, that appreciates based on the calculation with core data from trusted oracles. The appreciation is performed in real-time and affixed to a 10% per annum schedule, able to be redeemed via trusted decentralized finance automated market maker platforms. 

For those who are excited about a particular product and want to keep as much exposure to that crypto as possible: Ethereum, Bitcoin, Tron, FTX, and others. A xDAI/iDAI, xDAI/iETH, x/DAI/iBTC, xDAI/iTRX, xDAI/iFTT, and several others will launch on April 1st, 2021 simultaneously with the airdrops.

For those who want to 100x their paltry interest income offered by Paypal or other money market accounts, fiat-linked tokens can likewise be used to create a dependable income stream with an asset that everyone uses daily and understands. The stablecoins permitted are TUSD, DAI, and GUSD.

The crypto community is a nurturing ecosystem, rewarding innovative use cases and supporting developers who are working hard to show the extend to which blockchain tech can be utilized to solve cumbersome and complicated challenges. Early developers, like the ones who are IRA DAO stakeholders, recognize that the growth of the blockchain ecosystem is the residue of the excellent work done by the devs who paved the way. In recognition and as a display of respect, regular airdrops will be scheduled for users of important projects. This rewards these early blockchain trailblazers, but also, often, inexpensively creates evangelists out of these well-regarded, technically talented individuals, boding well for projects that nurture these relationships.

When these users get these free airdrops, they can stake them in Honeyswap, an xDAI Uniswap V2 fork, and begin earning farming awards, contribute xDAI to the DAO, or simply hold the IRA token on the xDAI blockchain. The airdrop amount will be adjusted based on the number of snapshotted wallet addressed, but will represent a generous value relative to the valuation of the IRA DAO project. The IRA DAO's value is derived from interest earned from staked DAI or other tokens. 100% of the value derived will be utilized by a token burn through weekly buybacks from the AMM, mirroring the effecting method 

The airdrop phenomenon, characteristic of the generosity of the blockchain ecosystem, has represented an exceptional way for new entrants to crypto amass a considerable bag of tokens without investing any of their own capital. Uniswap's per-wallet airdrop now stands at $17,286, with other DeFi platforms like Curve following the lead of awarding first-mover users with substantial value. IRA DAO intends to follow this lead, winning by helping extended generosity, a happy exercise that creates an across-the-board winning loop.

Airdrops begin for users of three platforms April 1st, 2021. The three first selected for airdrops are Honeyswap (an xDAI Uniswap fork), the r/cryptocurrency community (xMoons) (a crypto subreddit), and TronDash (a dApp tool). 

While there are a healthy number of entrants to the DeFi space providing an interest on fiat and crypto, most all have difficulties: security vulnerabilities, questionable management, zero customer support, too technical of a user interface, among many others. Despite it all, many have done quite well, speaking to users forgiving many, in our eyes, unforgiveable mistakes or habitual lapses of judgement, because they cater to this intense desire to earn a high return, traditionally only afforded to exceptionally risky assets like junk bonds, for stablecoins. 

There is a better way. DAO governance. Seriously embracing blockchain best practices. Use case innovations. All of these have a home in the IRA DAO governance early movers. 

If you have any questions feel free to post a comment and I'll swiftly respond with a response that speaks to my research on the organization. If I don't have any answers readily available I'm happy to dig deeper and proffer the answers necessary to round out one's understanding. Mass adoption necessitates clarity and lowered technical barriers to entry. This can be more easily achieved through thoughtful and patient customer service extended to new entrants. 

How do you rate this article?



Hard-hitting crypto reporter on the blockchain beat.


DAO Discussions.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.