Keep your cryptocurrency and NFTs safe with Upstream's Vault DAO. Request early access to the product here.
If one thing that has been made clear this year, it’s that protecting our digital assets is essential.
Over $1 billion has been stolen by scammers since the start of 2021, according to the Federal Trade Commission. One bad click can drain your entire net worth.
As more wealth is created in crypto, the scams have become more elaborate. It’s obvious that more precautions need to be taken. A robust solution for crypto safety must come into the market to protect the everyday person.
It is this exact insight that precipitated the creation of the Vault DAO.
As someone who has bought my fair share of NFTs in the past year and half, I know this problem firsthand. I’ve explored the potential options for security and haven’t found anything that made me feel completely comfortable.
For example, a hot wallet in my view is simply not secure enough to hold valuable assets. Yet, the other solution, a hardware wallet, also made me nervous because I could misplace it.
When looking for a potential custodial solution that made sense, I couldn’t find one. Even if I did, I don’t think I’d trust it completely. There’s the popular saying “not your keys, not your coin” and I’d tend to agree with that (having gone through the Mt. Gox implosion years ago).
I knew very well that clicking on one bad link could have severe consequences. Discontent with the current solutions, I set out to make a better one.
Using the Upstream DAO infrastructure, I made a DAO for myself, setting up accounts with unique log-in info that only I know. (You can think of it as a crypto Council of Ricks for those Rick and Morty fans here).
We now refer to this as the Vault DAO.
The Vault DAO adds an additional layer of security on top of a multi-sig wallet. Once I put my assets in a Vault DAO, I was able to sleep much better at night. No more fear of losing my livelihood because I clicked on the wrong link.
I began sharing what I had put together with a few friends and we've onboarded a handful of them. With their enthusiasm, we realized it can be its own offering.
Today, we’re opening up the Vault DAO more widely for people to use.
You can request early access to the product here.
This is just the beginning. If we’re certain of one thing, it’s that security will only grow in importance over the years to come. We’re excited to be part of the solution for greater safety and security in the crypto industry.
Thanks for your support!
CEO of Upstream