2. What We Are: The LifeDAO Explained

What is The LifeDAO: Community-Owned Nobank?

The LifeDAO: Community-Owned Nobank is a set of blockchain-based protocols that enable members to be their own bank; to save, invest, spend and protect their wealth while maintaining full custody of their own funds. The LifeDAO is organized as a non-profit membership Association which members collectively own and govern. Members are entitled to financial surplus generated by activities of the Association.

In other words, the Association is a group of people from all over the world who pool their financial resources together to protect and grow their wealth collectively. Members benefit from strength in numbers as a community, while maintaining control and self-custody of their funds.

The Association is organized as a Decentralized Autonomous Organization (DAO), on the Arbitrum Layer 2 blockchain which allows the Association to control operations and execute on governance using decentralized smart contracts. The Association is global and not tied to a specific geography. Association bylaws are enforced by smart contracts that are not controlled by any one entity or person, but rather by the group collectively. Members demonstrate ownership by holding membership credits and exercise governance by making proposals and voting.

Core Beliefs of The LifeDAO

• By maximizing the benefit to the community, The LifeDAO will maximize the benefit to the individual in the long term.

• Shariah-compliant financial systems, which shun interest in favor of profit sharing and risk sharing, provide better outcomes for communities and therefore individuals.

• Current financial systems benefit the few over the many and exclude a large proportion of the global population.

• Blockchain technology can enhance transparency and can distribute ownership and should be the foundation for new financial paradigms.

• To the greatest extent possible, systems should be decentralized and allow participants control over their own assets.

The LifeDAO Member Journey to Financial Freedom

1. Build a network with Member Connect. “Your network is your net worth.” This foundational step enables members access to a global network to provide them with a support system both socially and professionally.

2. Get informed through The EduHub. Learn to swim, don’t just jump in. Understand the rules of engagement when being your own bank. The EduHub provides video courses, hands-on training and mentorship.

3. Protect your assets. Before embarking on any journey, settle your affairs at home. The LifeDAO protection funds enable members to protect their assets and what is most important to them, the people in their lives.

4. Invest with others. If you want to go far, go together. Leverage the collective knowledge of the community to invest in DeFi through TLD’s Private Investment Clubs and the Collective Investment Pools.

5. Spend your money on your own terms. The LifeCard is a bridge from the web3 world to the real world, without dealing with banks. Spend your crypto like cash in the real world anywhere VISA is accepted.