Typically, this is the kind of new project that we really like on the Zonebitcoin team. PieDAO's ambition is really interesting in the sense that this project wants to be a new way to manage and invest in crypto index funds.
PieDAO It is therefore above all a new governance system for managing index funds that are tokenized on the Balancer protocol. The DAO will then coordinate the creation and also the allocation of tokens in the various crypto indices offered. In fact, these "stock indices" are called "pies" here.
Thus PieDAO will provide, through the operation of collective governance, a new way of investing in crypto assets.
A totally innovative way and if you don't understand anything at the moment, no worries, this article is here to help you see things more clearly.
Overview of PieDAO
The founders of this project are those who created the Dexwallet wallet and the Dexpay payment terminal. We are dealing with a team that already has entrepreneurial experience, and in the field of fintech, it is rather a good starting point, we can say.
If PieDao appears to be so innovative, it is not just an appearance. In fact, this is one of the first times where we have succeeded in bringing together the principle of DAO and DeFi. This shows us that old dreams of realizing blockchain applications are finally coming true.
On PieDAO, users can all vote on the creation and parameters of mutual index funds. For this, these funds are composed of different ERC-20 tokens on the Balancer protocol.
For example, you can buy BCP today (which is therefore an index that contains bitcoin, ETH and other DeFi tokens.
You can also buy DEFI++ which includes the most important DeFi tokens. This is made up of tokens such as Maker (MKR), Compound (COMP) and Augur (REP).
The big advantage of this PieDAO is actually the advantage of investing in indices. This allows you to invest directly in several of the most promising tokens. It is an investor strategy that minimizes risks because certain losses will be compensated in theory by the increases in other tokens.
We already had services like this which make it easy to invest in crypto indices as proposed Iconomi for example, which we particularly appreciate on zonebitcoin.
There, we can do the same thing but in a completely decentralized way!
How to participate and own clues in PieDao?
To purchase tokens that represent indices, you have two options:
Buy tokens directly via the integrated exchange.
Here, it's classic, you will need to have ETH to buy the tokens in question directly.
The second way to do it, which is very popular on the platform, is to use the cooking system (oven).
Using the cooking system on PieDAO:
This way of doing things turns out to be more economical because you save up to 97% of gas costs. There, simply stack ETH directly in the oven and it will create the tokens of your choice.
It's a well thought out system, we grant you that.
It's up to you to choose how you want to acquire these tokens.
You can also buy the DOUGH token native to the platform.
This way, you will be able to participate in farming on PieDAO.
In this case, you will then have to stack your DOUGHS to get rewards. However, this technique and this process are a little more risky than the other techniques insofar as it remains yield farming.
So, we hope that this article has helped you see things more clearly about PieDAO.
What we can say is that at least PieDao was able to be very innovative in its operation. Likewise, investing in stock indices proves very practical when you consider all the new tokens that are created every month.
At least, with this system, you can have an entire portfolio of tokens grouped into a single token.
If you are looking to invest in DeFi stock indices, you can also consult our article on Economy.
Disclaimer: This content is for informational purposes and does not constitute financial advice. We strongly advise our readers to conduct their own independent research before committing to any investment.
To buy cryptocurrencies (simple way):
To generate interest on your cryptocurrencies:
To secure your cryptocurrencies:
To have fun and play
- The best for Esport and sports betting: CloudBet
Learn more about ZoneBitcoin
Subscribe to get the latest posts sent to your email.
