FIREDAO is a community-run organization that develops blockchain products to fast-track its members to financial freedom.
We are a community of software engineers, corporate finance professionals, investment specialists and early Bitcoin adopters who got together to build simple and efficient products that enable reaching F.I.R.E. (stands for Financial Independence; Retire Earlier) significantly faster.
F.I.R.E. is a lifestyle movement that unites people committed to achieve financial freedom by making aggressive savings early in their professional career and living off the investments after early retirement instead of depending on a typical 9 to 5 job.
When the F.I.R.E. movement became popular in early 1990s the global economy did not have the challenges that it faces today, so investing all savings in bonds and stock index funds was a safe and rational choice.
However, today we believe the global economy is on the verge of another "Great Depression": the stock markets are all time-high while productivity, employment and the GDP decline due to the coronavirus pandemic. Unlike stock market crashes in 2000s and 2007-08, which took the markets 4 years to recover, the current crisis brings long-term negative consequences: unemployed people lose their qualifications, people suffered from COVID-19 have long-term productivity disorders, massive bankruptcies among SMEs makes access to capital for entrepreneurs more difficult in the future. So, in case the current crises gets worse, it would take the stoсk market a very long time to recover. For comparison after the Great Depression in 1929-39 the markets took 25 years to recover to their pre-crisis levels. So, if you plan to retire early and keep most of your savings in stocks or corporate bonds you must diversify your portfolio.
F.I.R.E. protocol was created as a response to current economic crisis and challenges. F.I.R.E. protocol is a computer algorithm that manages digital money and enables to generate a much higher ROI than stock market index.
Yield aggregator: High return, low volatility
Our first product - the yield aggregator - enables savings in stable cryptocurrencies (pegged to $1) which have near zero volatility. This means that the value of deposits is not affected by Bitcoin and other cryptocurrencies. The yield aggregator generates much higher annual returns than stock market indexes (20% vs. 8%) by eliminating all intermediaries and automatically deploying capital to audited smart-contracts, which make money from trading, lending and liquidity mining events.
Co-investment protocol: new opportunities
Typically only a very small number of well-know investors have an opportunity to make early-stage investments together with top VCs, while most people buy significantly overpriced stocks after IPOs.
We want to change that by allowing FIREDAO members to invest in revolutionary high-tech companies selected for investments by our partner VCs.
F.I.R.E. co-investment protocol enables co-investments with top crypto VCs. Despite these investments are risky, if successful, they can potentially generate very high ROI.
Governance
In contrast to the current financial system, F.I.R.E. protocol allows every community member to participate in protocol's development by making necessary proposals and voting on protocol's changes with the protocol's governance token - FIRE token.
FIRE token will be issued and distributed in a fair way via a "liquidity mining" program: users of the protocol will receive FIRE tokens proportionally to their deposits in the Yield aggregator.
More resources
Telegram: https://t.me/firedao Website: https://firedao.com/ Twitter: https://twitter.com/FIREDAO_ Medium blog: https://firedao.medium.com/ Github: https://github.com/FIREDAO/firedao-protocol
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