Announcing Fortress DAO: A decentralized reserve currency, guarding and growing your wealth
Welcome to Fortress DAO!
What is Fortress DAO?
Fortress DAO is a decentralized reserve currency, forked from the successful and secure Olympus DAO. Fortress will utilize the familiar bond-and-stake methodology,
in order to raise treasury funds and reward early supporters. This ensures that the Fortress retains ownership of the protocol’s liquidity, to enable consistent, unstoppable growth.
Why Fortress DAO?
Fortress DAO is unique.
Simply put, the Fortress is a community-owned venture fund, investing in the most promising, lucrative, and long-term growth potential DeFi protocols across all chains.
DeFi (Decentralized Finance) has experienced unprecedented growth in the last two years. However, the overwhelming majority of the profits have accrued to individual whales and institutional investors. These individuals have the time, capital, and connections to identify and immediately execute on the most lucrative opportunities. Unfortunately, this makes DeFi eerily similar to the decrepit world of CeFi (Centralized Finance).
Fortress DAO changes that.
We engineer life-changing investment opportunities for the common man.
What’s Next for Fortress DAO?
The Fortress will raise funds using the bond-and-stake model pioneered by Olympus DAO, with the goal of accumulating a $50M treasury. The Fortress targets an early staking APY of ~1,000,000% to reward early adopters and fast-track the DAO’s capital accumulation milestones. The APY will then be gradually tapered to sustainable levels, providing consistent passive income and capital growth.
Fortress DAO will transition full protocol governance to stakers of our token, $FORT. Holders of the staking receipt, $sFORT, will have voting rights on allocation of treasury funds. Further treasury growth and, therefore, the token’s intrinsic value will be driven by investment. Exploitation of information asymmetry, coupled with a large pool of investment capital, will generate significant alpha which is then redistributed to the community.
In many ways, Fortress DAO is inspired by the vision of Daniele’s Wonderland: an “ICO for a DAO [that opens] the doors of opportunity” for all, not just influencers and venture capitalists. Every single investor in Fortress DAO, even the very smallest, will be able to participate in the enormous wealth creation potential of DeFi..
Stay safu inside the walls of the Fortress and 〖🏰 ,🏰〗 together with everyone as you watch our hoard of riches grow… No need to brave the dangerous wilds outside by yourself.
How will Fortress DAO work?
Fortress DAO will be built on a soon-to-be-announced chain, which follows naturally from our vision to allow mass participation:
- We plan on choosing a commonly used and easily accessible chain, making it easy for potential investors to mint, bond, and stake $FORT
- Unlike Ethereum, transaction fees on alt-chains are extremely low (almost always under several cents)
Initially, the focus will be on bootstrapping the treasury and the liquidity for our native token, $FORT, with a limited-access presale.
- All code, both smart contracts and the Fortress DAO frontend, will be published on GitHub
- Smart contracts will be verified before the presale
- Presale participants will provide a capped amount of a stablecoin in return for an allocation of $FORT
- Funds raised from the presale will be split between (1) the Fortress DAO treasury, (2) provision of FORT/<stablecoin> liquidity on PancakeSwap, and (3) a direct allocation for team members
After presale, we will provide FORT/<stablecoin> liquidity on a DEX and release the bonding/staking dApp:
- Holders of $FORT will be able to stake their $FORT and access a targeted ~1,000,000% APY
- New investors will have the opportunity to mint $FORT at a discount by bonding FORT/<stablecoin> LP or or <stablecoin> alone
After the presale and the launch of the staking dApp, our next focus will be on ensuring maximal security for our users and investors:
- Code will be audited by a leading firm such as Certik or Quantstamp
- Treasury funds will be kept safu behind a multisig held by the core administrators
When will Fortress DAO launch?
Soon. Currently, we’re working hard to build and test for launch and to perfect our marketing. Our presale plans will reward early supporters and quality contributors.
Over the next week we’ll unveil detailed information on our Roadmap, Tokenomics, Development & Protocol Mechanics, and Presale. We’re working nonstop to get these finalized and will announce them in a separate post within 1–2 days.