A recent Statista statista showed that 30% of America’s wealth is shared by 90% of the population, with the remaining 10% owning the remaining 60%. Shocking as it may sound, the above statistic applies in many jurisdictions around the world. In Africa and many Asian countries there is a huge gap between rich and poor.
How can crypto help to close the global gap between rich and poor? This article explains in detail why we think crypto is the best choice to deal with this situation. In addition, we will learn more about a new GryffinDAO token and see how it can help combat the situation alongside the major cryptocurrencies Shiba Inu and Tron.
Crypto and the Global Traditional Financial System
One thing you may notice about the traditional financial system is the segregation caused by many low-income citizens, and therefore you may need to have a certain amount of money in your account or a certain value of assets to access certain benefits such as loans, grants, high deposit savings, among others.
How Crypto Is Closing The Wealth Gap Globally?
Cryptocurrency welcomes the decentralization of the traditional financial system, allowing virtually anyone with asset value to mine resources and profit more than an average savings account. Due to decentralization and anonymity, many people are enjoying the internet more than ever.
Here are some of the ways crypto is bridging the wealth gap between people:
1/ Easy access to financial tools
High net worth individuals have strong ties to the bank and have access to financial resources and forex expert advice whenever they want. Crypto makes this option available to everyone regardless of their financial power on the internet. Anyone can create a trading book and access crypto trading tools without going through a third-party broker and financial advisor.
2/ Profitable savings model
Protocols such as GryffinDAO and TronDAO can generate interest rates of up to 20% when holders lock their respective tokens for validation of network transactions. Depending on the savings package concerned, bank savings yield 5% to 10%.
Crypto is also flexible and has many savings options including yield farming, soft and hard stacking and cash mining where you earn interest by ensuring the integrity of a DEX and of a liquidity pool using crypto assets. Some DeFi protocols allow users to use their staked tokens to earn more within their ecosystem.
3/ Anonymous transactions
Monero is popular for its anonymity. Crypto generally uses the blockchain anonymity framework of hashes and alphanumeric addresses that are not easily traceable to anyone.
For this reason, many dark web companies have not yet been caught using cryptocurrencies by authorities. Anonymity gives crypto traders and users confidence and a sense of security when doing business online.
4/ Easy access to liquidity pools
Anyone, regardless of income, can contribute to a protocol’s liquidity and earn interest rates accordingly if they wager. Tron offers a soft-staking model where users stake linked tokens on Tron as they spend it. This shows how much flexibility and transparency crypto can offer anyone.
5/ Limitless payment method
Freelancers agree that receiving payments has never been easier with money services like PayPal, Western Union, SWIFT, and more. At its worst, PayPal is notorious for blocking accounts that are somewhat in violation of its policies. Also, many jurisdictions such as North Korea and China do not allow the services of some of these money/disaster services. This is where cryptocurrencies can work.
Boundless crypto transactions have even been enhanced by the integration of Ripple using the XRP token. Currently, freelancers and remote workers can receive or send payments across borders at an insignificant cost using crypto.
Cryptocurrencies Cross Borders
Shiba Inu (SHIB) is an ecosystem of meme tokens portraying themselves as the Doge Killer. SHIB has given more money to people than many charities worldwide, generating more than 751,804.72% (as of August 2022) since its launch in 2020. Anyone who bought $100 worth of SHIB when it launched in August 2020 will receive approx. be $75 million. It’s crazy!
Tron is another ecosystem that runs a decentralized internet. Tron is boosting his ambition by using the TRX token. Creators can monetize their online businesses and projects by simply holding TRX. Also, anyone can earn online by staking Tron (TRX) in any supported DeFi wallet. Tron is also one of the fastest growing networks in the web3 space, having crossed over 1 million wallets since its launch in 2018.
GryffinDAO, while a relative newcomer, is gaining popularity in DeFi. It has already received approvals from popular brands in the DeFi and traditional business sectors, including The Guardian and Economic Times.
What is GryffinDAO?
GryffinDAO is a DAO-led ecosystem that strives to make decentralized finance available worldwide. The team has worked tirelessly to make DeFi transparent, and this would be possible thanks to GryffinDAO’s native GDAO coin. In the words of the developers:
“Our mission is to change the international financial landscape that has proven pervasive and costly to users, by creating a democratic system through the DAO that empowers users to participate in all critical platform decisions, including future implementations and fee structures.”
What GryffinDAO offers:
Cross-chain, secure, fast and cheap transactions are some of the main priorities of the GryffinDAO protocol. Anyone with the GDAO token can join the board and support other protocols running on GryffinDAO.
GryffinDAO will support many products and features, including an NFT marketplace, cross-chain DEX, lottery, wiretap payment system, and Metaverse integrations.
GryffinDAO is about to disrupt the traditional financial system and close the wealth gap between different economies around the world. To become a DAO member, all you need to do is purchase the GryffinDAO (GDAO) token and add it to your wallet.
Here are the steps to buy the GDAO token:
First step — pre-sale purchase
GryffinDAO organizes a presale planned in 3 phases. The presale is spiced up with so many bonuses, which can go up to 1000% as you buy more tokens and referrals that take you to the presale.
You can easily register for the presale and make your first purchase with all popular cryptocurrencies such as BTC, ETH, USDT, LTC, XRP and BNB. Each comes with a signup bonus that can also be stacked as you buy more GDAO coins.
You can find the presale information immediately when you open the official website of GryffinDAO: GryffinDAO.com. The link to the presale registration portal can be displayed in the red button in the top right corner of your desktop screen.
After clicking the “Enter Presale” button, you will be redirected to the registration portal, where you will need to enter your basic information and the token you want to buy the GDAO tokens with. You must also specify the amount you wish to purchase at this point in order to receive the corresponding bonus associated with the prize.
The starting price for the GryffinDAO presale is $250, after which you can buy as many tokens as you want. Remember that the more tokens you buy, the more bonuses and cashback you earn.
Step 2 — public sale purchase
GryffinDAO will launch its own coin to the public immediately after the presale. However, there may not be any additional benefits except for staking and cash mining, which are also included in presale bonuses.
You can buy the token through a DEX like PancakeSwap or GryffinDAO’s DEX pool. You can also earn GDAO as LP tokens on the liquidity pool.