Welcome back to a special edition of Inside the Bakery. The topic? The merge… No, not that merge… we are talking about the merging of our DeFi PIEs. So if you hold DeFi+S and/or DeFi+L this newsletter is for you.
Treasury APR
7.3%*
*APR exclude sOHM position
Products
The Best of DeFi in One Token
What's merging? In a bid to simplify our product offerings DeFi+S and DeFi+L will merge into DeFi++ as per [PIP-70].
Why? In the Product Refinement Initiative, the DAO implemented a health check on some of our PIEs. The analysis found that our PIEs performed well but there is room for improvement. Merging our DeFi offerings would allow for:
Higher concentration of TVL
Improved allocation of LP liquidity and incentives
Lower maintenance/rebalancing efforts and costs by PieDAO
Optimized effort for its active promotion across the DeFi ecosystem
Do I need to do anything? If you hold DeFi++, no, nothing you need to do! But if you hold DeFi+S and/or DeFi+L you have several choices:
🚀 Migrate: Migrate to DeFi++ (may require to exit LP positions - more info in the resources section)
🛌 Do nothing: Keep your tokens (DeFi+S and/or DeFi+L) and keep their LP positions
🔥 Redeem: Burn the token and receive its underlying assets
When is this happening?
April 26, 2022 Migration begins
May 16, 2022 Migration ends
May 17, 2022 DeFi+S and DeFi+L officially retired
Resources
Read the in-depth blog here
Holders can choose to migrate DeFi+S and/or DeFi+L to DeFi++ (User Guide here https://bit.ly/3xJebB9).
All DeFi+S and DeFi+L related functionality will remain available at http://legacy.piedao.org/
Events
PieDAO Community Ambassador @50shadesofgwei discusses PieDAO and DeFi on the Dex Guru Talk Show here.