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 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.
🌱 Growth
It was a week of incredible growth for PieDAO, with over $17m Total Value Locked!
Don’t forget, the greater Total Value Locked in PieDAO products, the more the generated fees for DOUGH.
📰 In The News
🌏 MXC Lists DOUGH
DOUGH has been listed on MXC exchange, one of the largest in the Asia region. We saw a huge wave of new community members excited by pies. Welcome everyone!
💰 YPIE Uniswap V2 Incentives
Staking rewards went live for our first PieVault, with 60,000 DOUGH available to earn over three weeks.
As PieVaults employ multiple active farming strategies the update allows for double yield.
To get involved add liquidity to the Uniswap v2 YPIE / ETH pool and then deposit your LP tokens on our staking page.
💰 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 APR available today:
📊 Pie Performance
It was another week of record breakers! 🎉
Remember, all pies started at $1.
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 avoid missing out on big movements trying to pick winners.
Who were the biggest movers according to CoinGecko this week?
DEFI+L
COMP was a close second, up 44.7%.
YPIE
PICKLE was the leader in in our first ever PieVault, up 35.8% over the last seven days.
SUSHI, the largest asset grew 20.6%.
YPIE gives complete exposure to the Yearn Finance Ecosystem, with it’s multiple yield-generating strategies providing holders with a passive APY.
❤️ In The Community
🐦 PieDAO Twitter Contest
The first week of Open Day at The Bakery has began, with $100 of $YPIE available to earn!
To enter simply like, follow and retweet!
The contest follows the successful Snapshot vote. See full discussion of this Growth Experiment on the forum.
🍣 PIP-46 Snapshot: Add SUSHI to DEFI+L
A Snapshot vote has been initiated for PIP-46, which would rebalance DEFI+L to include SUSHI. This would also affect DEFI++ and BCP.
The proposal would also introduce a new PieVault containing YFI, AAVE, SUSHI and SNX, actively generating yield with the underlying assets and bouncing between strategies for the highest possible return.
Vote here! You can vote with DOUGH, staked DOUGH and escrowed DOUGH. There have already been over 2m Yes votes!
View the discussion on the community forum.
👏 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.