Sandclock Has Raised $20M to accelerate mass adoption of decentralized finance
Cayman Islands, Sept. 27, 2022 /PRNewswire-PRWeb/ -- Sandclock, a subsidiary of Lindy Labs, has launched its new platform to enable users to save, give, invest, or spend yield generated on stablecoins. Sandclock occupies a unique role in the blockchain ecosystem by combining an optimal user experience with the most advanced yield generating strategies to give users maximum investing power and flexibility. A sleek interface and user-friendly features can help simplify the immense complexity of the blockchain technology—a design that benefits mainstream and crypto natives alike, and which ultimately will help democratize DeFi adoption.
"At Sandclock, we believe we can bridge the gap between blockchain as a technological innovation and blockchain as a tool for unique banking solutions," said Alexander Hughes, chief legal and compliance officer at Sandclock.
Among its novel planned offerings is the Sandclock prepaid card model, which allows users to spend a portion of their yield while protecting their principal. Taking it a step further, users can delegate profits to a person in need, such as to refugees fleeing the war in Ukraine. Sandclock will enable users to dollar-cost average in perpetuity into investable assets with their yield and/or principal. Furthermore, the platform enables seamless philanthropic giving to global charities.
Sandclock began as a philanthropy first project in May 2021, before evolving into a generalized wealth management solution that it is today. Co-founders Cristiano and Elizabeth had the idea for Sandclock after their dog swallowed a whole chicken bone, causing her to fall ill, and a small non-profit provided the educational resources and information that saved her life. Cristiano, a mathematician, has ample experience working in the blockchain space, while Elizabeth's past experience is in the education and philanthropy sectors. Drawing from their collective personal and professional experience, they were inspired to bridge crypto and charity in a unique way, and Sandclock was born.
Sandclock empowers users to take control of their money, gaining access to high interest rates enabled by blockchain technology, with more flexibility, automation, and higher APY. Essentially, Sandclock is the world's first user-programmable yield optimizer built for the masses but equally useful for power users. Its innovation also spans novel governance and tokenomics models to enable seamless transfer of value across the web.
Sandclock uses their ecosystem governance token, $QUARTZ, to enable users to propose and vote on proposals submitted to the decentralized autonomous organization, or the DAO. Holders of $QUARTZ can decide how to allocate certain protocol funds, suggest partnerships with other protocols and organizations, and can propose and modify new or existing parameters for the protocol's pools.
Among its benefits, cryptocurrency gives consumers greater autonomy and control when it comes to their money. Fully digital, cryptocurrency makes it easier to send money and provides a greater sense of privacy for the buyer. Building on blockchain–an open, permissionless system—there is composability between protocols (protocols are modular like Legos or pipe joints). Users can mix and match them together in various ways, giving rise to novel products. Sandclock supercharges this composability to allow developers to build and innovate on top of Sandclock's open-sourced architecture while enabling users to create their own metavaults.
More investors are adding cryptocurrency to their portfolios, and interest is mounting in ways that cryptocurrency can support and sustain other elements of financial management beyond buying and selling. Cryptocurrency is also favored by individuals with a higher-than-average interest in charitable giving. According to Fidelity Charitable, 45 percent of cryptocurrency investors donated $1,000 or more to charities in 2020. By contrast, only 33 percent of their peers in the overall global investor population have given that much.
"Connecting with users' desires to leverage cryptocurrencies and blockchain tech for wealth creation while also catering to their human drive to support global causes will be the key differentiating factor for generosity-based cryptocurrency in terms of adoption and growth," said Hughes.
Sandclock has raised close to $20 million exclusively from the community in one of the most successful crowdfunding campaigns, enabling every individual to have a fair and equal chance. Philanthropy remains at the heart of Sandclock, deeply rooted in its inception, which is why a portion of Sandclock's treasury is allocated to incentivize giving via a mechanism known as "vote delegation." Sandclock's power to generate yield will help many people save for the future in a way that banks cannot ensure.
"Our platform enables users to grow their wealth responsibly by empowering them to create their own metavaults or foundations, just like the wealthy do," said Elizabeth, co-founder of Sandclock. "Essentially, Sandclock represents the next generation of wealth creation."
For more information, visit http://www.sandclock.org.
The above material is provided for informational purposes only and should not be construed as investment, tax, legal, financial, or other advice, or an offer or solicitation to buy or sell securities. The material is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations concerning the manner in which any person's funds should or would be handled, as appropriate investment strategies depend upon the person's objectives.
Media Contact
Q Rasi, Lindy Labs, 1 (866) 445-5227, [email protected]
SOURCE Sandclock
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