LA Company Continues To Tackle Poverty and Financial Illiteracy With FantomGo

December 20 20:40 2021

Los Angeles, CA – Daron Bennett CEO and Co-founder of FantomGo, a community-driven ecosystem builder designed to accelerate the Fantom ecosystem. Through building a suite of products and initiatives, FantomGo aims to help innovators build, launch and scale their ideas today. The first product is a decentralized fundraising platform (launchpad) that allows the core community to participate and support early-stage projects building on Fantom Blockchain, giving projects an effective way to kick start activity from engaged network participants.

The team at FantomGo wants their product to have an impact on the crypto space. But their vision and mission are about helping people. They want to lower the number of people who live in poverty.

Their mission is to change generational poverty to generational wealth in the inner-city and beyond. One problem with traditional finance is that it keeps people down. Centralized finance was structured to benefit institutions, not the people.

It wasn’t always like this. When A.P Giannini created the Bank of Italy (currently Bank of America), he realized that banks ignored small businesses and forced them to take loans from loan sharks. He was fed up with the system and decided to change the way they do banking in America as it is known by providing fair access for small businesses and opening the first bank for women in America when the 19th Amendment gave women the right to vote.

But all that changed. Take traditional financial instruments like savings accounts and IRAs, which often have a low APR. And because of inflation, what a person saved is less than when they started with it. In Decentralized Finance, people can earn much more money in the economy. The Defi platform usually starts at 8% APY (Annual Percentage Yield) and goes past 600% in yield farming.

There is no middle man. There is no entity trying to take advantage of people and make money off of them, as most financial institutions do.

The people have power. The community has power.

The exchange of wealth goes into the hands of the people as they embrace a free economy FantomGo is building an ecosystem that is trying to help everyone do that.

Media Contact
Company Name: The Fantom Ecosystem
Contact Person: Daron Bennett
Email: Send Email
City: Los Angeles
State: CA
Country: United States