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3 New Crypto Currency DAOs I'm Staking For Passive Income - YouTube
Channel: Kris McCauley
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we are seeing a wave of dows enter the
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crypto space with over 30 new ones
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launching this month and some of these
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are offering investors over one million
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dollars in a year's time by just taking
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as little as 100
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and after getting so many different
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recommendations of different projects to
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look at i tried to congregate them all
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into one video so we could sift through
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and try to determine the good from the
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bad and by the end of this video i'm
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going to share with you which three new
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cryptocurrency dows i'm invested in on
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staking to earn passive income let's
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dive in
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[Music]
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hey everyone my name is chris and on
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this channel i talk all things online
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money with the goal of sharing my
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journey of creating as many passive
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income streams as possible sharing them
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with all of you so we can all live more
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meaningful lives and today we are diving
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into the endless list of new
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cryptocurrency dows that are launching
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these projects are popping up everywhere
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and i tried to congregate as many as i
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could into one sheet just to see if i
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could see any patterns of what makes a
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good dow and what makes a bad dow to try
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and determine which one i wanted to
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invest in and the apy on some of these
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projects is absolutely astronomical so
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i'm sure there are going to be some rug
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pulls and if you're not familiar with a
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rug pull all that is it's just where the
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investing team runs off with all the
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investors money and this can happen in a
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variety of different ways so the goal is
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to try and spot those before they happen
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so we avoid losing all of our money and
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just as much as this video is to try and
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share with you some crypto gyms that i'm
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investing in it's also to try and help
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you learn which ones not to invest in to
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avoid losing all of your money and as
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always if you do like videos about
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making money online be sure to like and
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subscribe new videos coming out every
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week join the free facebook in the
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description below and let's get into it
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now if you aren't familiar with doubts i
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think it's best to first understand what
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they are before deciding to try and
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invest in one and it stands for
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decentralized autonomous organization
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and this is just the philosophy of an
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organization that's designed to
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eliminate human error and automate
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processes and this can be applied to any
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industry or purpose and to understand
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the industry and purpose of the dows
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that we're going to be looking at today
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i think it's first best to understand
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what olympus dow or ohm does because
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many of these projects are forks of om
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and all a fork is it's just a copy of a
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product's code so if we understand om
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it's going to better help us understand
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the dows we'll be looking at and the
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reason why we want to know this is
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because it's going to help us determine
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that company's market share amongst all
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of the dows so let's think of the
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company apple apple owns a market share
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in what it does in the technological
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space and to even compete with apple
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you're not only going to have to do what
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they do but you're going to have to do
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it better and that's because they have
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first mover advantage and they will
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always have the advantage until someone
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comes along and does what they do better
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and the same can be said here with the
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dows we'll be looking at today now
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olympus tower ohm is a protocol that
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intends to solve the problem with stable
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coins and cryptocurrency because the
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stable coins in cryptocurrency are tied
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to a deflationary asset the united
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states dollar and it intends to solve
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this problem with a user-backed treasury
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which is where we come in as an
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investors and these high apys
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incentivize us to do so and these high
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apy projects are achieved through the
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sales of bonds and if the price of the
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project goes up more of that token is
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minted and if the price of that project
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goes down more of the token is burned
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and this is all hinged on one key
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element which is game theory that
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assumes two things one is that the best
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interest of the group is the best
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interest of the individual and that all
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investors are rational now all that
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being said these projects are extremely
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volatile just as all cryptocurrencies
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are tied to bitcoin meaning that if
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bitcoin moves up the cryptocurrencies
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under bitcoin will move in an
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exaggerated fashion one way or another
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and the same can be said even more so
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with these dowels within the space of
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daos for example about a month ago there
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was a whale that sold a bunch of
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climadow and that caused a ripple effect
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throughout all of the other dows and
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caused a mass selloff now all that being
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said let's get into the list of projects
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and the data metrics i used when i tried
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to determine which project i was going
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to invest in and this data that i'm
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going over today will be available in
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the description below and some of this
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data including treasury totals or apys
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might be off at the time you're looking
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at this video but just think of this as
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a snapshot in time because those will
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fluctuate but you can fill that out if
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you download the sheet yourself and the
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same principles that i'm using to
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analyze will still apply no matter what
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the totals are now when i went ahead and
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stacked all of these dowels against one
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another just to see which new ones i
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wanted to invest in there were a few key
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metrics i was looking at and the first
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one was something off of the ethereum
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blockchain the reason why i don't like
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ethereum is because the fees are so high
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you have to have ethereum to stake and
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unstake to buy the project so i just
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wanted something off of there completely
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and the second thing i really wanted to
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see was an active community on twitter
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and discord so i must have a twitter and
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discord for me to invest in it and i
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even took this one step further and i
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created a column for average amount of
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retweets across the last three tweets
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and the reason why i did this is because
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it's so easy to buy twitter followers so
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i wanted to see some kind of community
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engagement and the last thing i did was
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i highlighted specific dials just to see
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how it stacked up against the good ones
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and the bad ones so in green are three
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dowels that i consider blue chip dao's
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for now and that is climadow time
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wonderland and um and i realized some of
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you guys saying well wonderland isn't a
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dow well we're putting it in here just
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to gather the data from and then in red
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are all of the rug pulls i could gather
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there's probably more than that but i
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wanted just to see if i could spot any
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patterns and i feel like i was starting
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to see a pattern here with the retweets
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that i was seeing i don't know how long
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that's going to last for i think some of
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these companies will get savvy and
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they'll start paying fake accounts to
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retweet their stuff before now that was
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something that i really liked and used
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when looking at some of these doubts now
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the first style i went ahead and
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invested in was snowbank and this has an
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apy of over 400 000 meaning that if you
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were to put 100 in today you would get
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over 400 000 in a year's time well
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that's obviously not going to happen on
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any of these because the apys will
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definitely decrease as more people get
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in but here are a few key things that i
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really liked about this project so the
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first thing i really liked is i liked
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how they didn't have any pre-sale or
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team allocation and it also looks like
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they have borrowing available soon as
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well which is what danielle sits the
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galley did with wonderland time now a
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couple other things i like about this
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project is it's on the avalanche network
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which has very low fees and it also has
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wrapping available for your steak token
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and the reason why i liked wrapping
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available for my staked projects it not
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only allows you to avoid taxes on the
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staking profits that you're making but
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it also gives you a few other key
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advantages as well and i also like how
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snowbank does have a nice size community
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and community is really important for
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projects like this because the more
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people that trust in the project the
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more longevity it potentially will have
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and we've seen this with bitcoin the
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more people that adapt bitcoin and
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cryptocurrency the more powerful and the
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stronger it becomes now i wanted to
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spread my funds across dows that are on
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different networks which leads me into
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my second dow that i invested in and
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probably my favorite which is hector dao
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and it is on the phantom network hector
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dao is an apy of over seven hundred
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thousand percent and it's on the phantom
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network which also has really cheap fees
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and i'm really liking this network
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further increase its validity it's also
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been audited by two different companies
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and it also offers borrowing on its
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assets now although this is a hard fork
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of alm i do really like how it's on a
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different network and it also offers
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compounding on the sales of its bonds
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which i believe is one of the few dows
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to offer that right now and the reason
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why i like this is because if it can
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incentivize people to buy bonds over
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other projects bonds that increases the
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chance of it being able to offer out
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that high apy for longer now is hector
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dao going to be the next blue chip dao
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only time will tell and the last dow i'm
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going to be discussing today is
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metaverse pro and it is on the binance
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smart chain available for sale on
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pancake swap and it has an apy of over
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one million percent now out of my
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research the binance smart chain has a
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riskier track record than some of the
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other networks i mentioned in this video
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but because of the community of
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metaverse pro i went ahead and decided
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to pull the trigger it looks like they
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might have some potential partnerships
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in the work don't quote me on this but i
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thought i might have seen game fi as
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well as some other metaverse companies
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and metaverse is just an area that i'm
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really excited about that i think we
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will see a ton of growth in whether or
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not it's a bear or bull market so i
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wanted to make sure that i got in a dow
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that reflected that and at the time of
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me filming i could not find their
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treasury total but they said that
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they'll be able to grow the treasury
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despite market conditions but i think
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only time will tell on that one and the
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same goes for any dow in the crypto
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space in general now the amount i've
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invested in these three crypto projects
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is much lower than that of what i've
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already invested in time wonderland
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clima and om and the reason being is i
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see dao's as just one asset class in
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crypto and at this point i'm looking to
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invest in other areas if you think of it
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from a stock point of view and you're
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investing in tech companies and your
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entire portfolio consists of tech
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companies if something happens to that
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sector of stocks it's going to infect
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your entire portfolio so just as much as
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i think it's important to divest in
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other different cryptocurrency dows i
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think it's also important to invest in
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other areas in crypto as well and the
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main area i have my eyes set on right
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now is the metaverse in the next video
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i'm going to be discussing an investment
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i made in a metaverse property and i'm
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really excited to share that with you
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guys so until then be sure to like
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subscribe join the free facebook in the
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description below and i'll see you next
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time
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[Music]
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you
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