Welcome to Inside The Bakery.
This newsletter aggregates the latest updates from everyone’s favorite bakery, PieDAO.
PieDAO is a growing community governing tokenised portfolio allocations, pushing the boundaries of what can be achieved with ETFs.
Our ambition is to become Bridgewater Associates on steroids, powered by an army of highly incentivised and talented community members instead of a handful of investment analysts. With PieDAO anyone, anywhere, can get access to tokenised asset allocations (PIEs) - no matter their budget.
If you haven't followed our progress yet, the concept is simple:
📌 Holding $DOUGH makes you a member of PieDAO giving the right to participate in governance; decide on the composition and weight of individual PIEs; and the right to be rewarded for your contribution with a share of fees generated through the protocol.
📌 Anyone with an internet connection can buy PIEs (including gas-free through our Oven) and benefit from exposure to a carefully curated, diversified selection of tokenised assets
📌 Our latest product range, PieVaults push the possibilities even further, maximising returns and minimising risk. PieVaults employ multiple active strategies such as staking, lending, and yield-farming, using a unique strategy for each individual asset within the PIE. PieVaults also unlock meta-governance of underlying assets, with the DOUGH token becoming a voting passport across the DEFI ecosystem.
Subscribe to Inside The Bakery to stay up to date with Forum and Discord discussions, staking APRs, pie performance, integrations and much more.
🌱 Growth
PieDAO held above $14m Total Value Locked for the second week running!
Don’t forget, the greater Total Value Locked in PieDAO products, the more the generated fees.
💰 Liquidity Rewards
We are incentivising liquidity provision for our products with 150k DOUGH each week.
Head over to the PieDAO Bakery to get involved, or read our DEFI+L staking guide to understand how to stake using Balancer and PieDAO!
Following PIP 19 all BAL rewards are being used to buy DOUGH off the market as part of a sustainable issuance policy. So far over 300,000 DOUGH has been bought.
Here’s the current APR available today:
📊 Pie Performance 🎉
It was a record-breaking week at the PieDAO bakery with all time highs for BCP, DEFI+S, DEFI+L and DEFI++.
Don’t forget, pies are fully-backed by the assets they represent, with pie growth directly representing the growth of the underlyings.
You can buy or mint BCP, YPIE, DEFI+L, DEFI+S, and DEFI++ through the PieDAO website.
📈 Underlying Asset Performance
Pies diversify your investment so you can avoid missing out on big movements trying to pick winners.
Who were the biggest movers according to CoinGecko this week?
DEFI+L
AAVE and UNI in our large cap were the best performers in our blue chip DEFI pie DEFI+L, up 43.3% and 38.6%.
YPIE
SUSHI was the leader in our first ever PieVault, up 19.7% over the last seven days.
YPIE gives complete exposure to the Yearn Finance Ecosystem, with it’s multiple yield-generating strategies providing holders with a passive 20% APY.
❤️ In the community
Community Survey
We ran a survey to better understand the wider community’s perceptions of the DAO and its products.
The feedback was overwhelmingly positive with more than half of respondents saying they would be heart-broken if we disappeared. 💔 Oven and gas savings, Ease of use, Diversified Exposure, and Community was what they loved the most!
Here are the keywords the survey highlighted. See the full results.
PIP-46: Add SUSHI to DEFI+L and YASS PieVault.
The PieDAO community has recognised the incredible growth from Sushiswap, and a proposal has been made to add SUSHI to our large cap DEFI pie DEFI+L.
The proposal would also build YASS, a concentrated PieVault containing YFI, AAVE, SUSHI, and SNX.
Like all PieVaults YASS would actively generate yield for holders with multiple productive strategies.
Have your say on the community forum.📣 Attention all @SushiSwap fans. 🍣 PIP-46 would add $SUSHI to our large market-cap #DEFI pie DEFI+L. Join the discussion: forum.piedao.org/t/pip-46-re-ba… $DOUGH#PIP46 🥧 #PieDAO: Re-balance DEFI+L to include $SUSHI @williambrealey1: Following the recent developments from the @SushiSwap community and growth of the protocol there has been clear demand for SUSHI from the community. $SUSHI 🍣 is nearing $1b MC 🤯 https://t.co/QBCJ9SD7it https://t.co/BduEZvYpygDEFI 🥧 @DOUGHdefi
PIP-43: YPIE Liquidity RewardsThere’s still a few hours left to vote in the latest Snapshot for YPIE liquidity rewards.
PIP-43 would allocate 60k DOUGH over three weeks for the Uniswap V2 YPIE / ETH pool.
Liquidity providers would earn double yield, with the LP rewards combining with the intrinsic productivity of the PieVault’s active strategies.
👏 That’s all for this week!
Thank you for being part of the PieDAO community!
Don’t forget to subscribe to get the latest news, pie updates and staking APY direct to your inbox weekly.
You can get hold of BCP, YPIE, and DEFI++ gas-free with the community Oven.