PieDAO Announce PieVaults
Yesterday PieDAO revealed PieVaults, balanced cryptocurrency indices capable of actively engaging with DeFi protocols.
PieVaults are a brand new index type that unlock multiple new features.
Initially PieVaults will ship with meta-governance and lending, providing additional revenue streams for holders.
The first PieVault will be YPIE, the Yearn Ecosystem Pie, available to mint gas-free via Oven (still in beta).
How do they work?
PieVaults are pies that can interact with smart-contracts, enabling the assets to be used productively across DeFi.
While PieVaults launch with meta-governance and lending, this is just the beginning.
Almost limitless possibilities are enabled moving into the future.
Yearn Ecosystem Pie
YPIE is PieDAO’s first PieVault, providing complete exposure to the Yearn Finance Ecosystem.
It follows a weight-based allocation methodology, giving a higher allocation to projects with a larger market cap. This maximises the size the pie can grow to, reducing the risk of low market cap projects becoming a bottleneck.
Meta-governance
With PieVaults it is now possible to access the underlying assets and use them to participate in governance proposals in each native protocol. This works through the DAO’s governance token DOUGH. Users can vote with their DOUGH even if it’s staked or escrowed, able to signal their decision gas-free through Snapshot.
Through this design DOUGH becomes a passport to governance participation across DeFi.
Meta-governance aims to massively raise governance participation across the DeFi ecosystem, reducing the friction and eliminating the economic cost.
Conclusion
PieVaults are a big step forwards for PieDAO and the beginning of a new chapter for decentralised governance. The announcement was the result of months of core team and community effort, so well done to everyone who made this happen.
Meta-governance is a huge win for governance engagement and I’m looking forward to seeing the DAO become a governance hub.
In my slightly biased opinion PieDAO is one of the best DeFi communities around, and I’d encourage anyone interested to join the PieDAO Discord. It’s a welcoming and productive environment, with daily discussions on new pies, strategies and growth.
Read the full PieVault announcement here, and don’t forget to check out YPIE.