Last Monday PieDAO launched its much anticipated DOUGH staking — or in other words, the opportunity for the most loyal DAO-ers to lock up the governance token for a given period of time, in exchange for voting power (and decent sized monthly paycheck — in the first month only, over $1.3m will be distributed among what’s currently only 124 addresses — do the math!).

Why was this done?

Since the beginning of time, PieDAO — and all organisations for that matter —have struggled with the problem of short-term gains versus long-term alignment.

veDOUGH (the staked version of DOUGH) was created as the mechanism to align incentives with long-term token holders, and encourage active participation in governance matters.

Since the launch of DOUGH staking, in just one week over 20% of circulating DOUGH supply has been staked for *3 years* by 124 addresses. That’s an enormous amount of commitment and trust into the future of the project, and it’s only the beginning.

Introducing UMA KPI Options for DOUGH Staked 🚀

To capitalise on this positive momentum and drive even more committed governance members towards the project, we are announcing the launch of UMA-based KPI options, designed to boost the amount of DOUGH staked.

What is a KPI option?

If you haven’t come accross the term yet, Key Performance Indicator (KPI) options are synthetic tokens that will pay out more rewards if a project’s KPI reaches predetermined targets before a given expiry date. Every KPI option holder has an incentive to improve that KPI because their option will be worth more. This is intended to align individual token holder interests with the collective interests of the protocol.

What does this mean in practice?

If we managed to hit the milestone of over 20% DOUGH staked in under a week by the efforts of a handful of individuals, can you imagine where we can get by coordinated efforts or a several-thousand people community? Sky is the limit.

Following a successful vote by PieDAO governance, 5,000,000 DOUGH will be used as collateral to back 10,000,000 KPI options. These KPI options will be distributed in the 1st week of November pro-rata to all who hold veDOUGH by 31st of October.

The maths is simple: the metric of interest is amount of DOUGH locked in the staking contract (live numbers are always shown here), and the equations are as follows: The target date at which the timestamp of DOUGH staked will be made is 30th March 2022.

• If at least 7.5m DOUGH is staked by the agreed snapshot date of 30th March 2022, the 10m KPI options will convert to 1m DOUGH, distributed to all KPI option holders shortly after the snapshot date.
• If 10m DOUGH is staked, the 10m KPI options will convert to 2m DOUGH
• If 15m DOUGH is staked, the 10m KPI options will convert to 5m DOUGH

This is represented in the step function below:

This means that if 15m or more DOUGH staked KPI is hit (only 3x what we hit in a week!) by 30th March 2022, you can get 0.5 DOUGH per every KPI option you’ve been airdropped. Not bad?

How can I participate?

To be eligible for the KPI option airdrop, you need to have veDOUGH (i.e. stake your DOUGH) by the 31st of October. The amount of KPI options you will receive will be pro-rata to the share of veDOUGH you hold versus the total (up-to-date totals can be found here).

• To learn how to stake DOUGH, go to our user guide for Staking here;
• To learn more about UMA KPI options, head here;
• For any other questions or help, join our Discord;
• Try our staking simulator here to estimate how much monthly cashflows you can get for a given DOUGH amount and your desired lock-up period.

I am personally excited to see this initiative boost the success of DOUGH staking and drive a coordinated community action. Ultimately, having more DOUGH staked is beneficial for all stakers as it attracts more committed governance members to the project, encourages active invokvement, and takes more DOUGH out of active circulation, while increasing its utility.

Launching UMA KPI Options for DOUGH Staked was originally published in PieDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

At PieDAO, we believe that DAO profits should go to those who put in the hard work of driving this wealth creation machine forward: active governance members.

To achieve this, we are rolling out DOUGH Staking and Governance Mining, scheduled to go live on Monday, October 4th.

This represents a complete redesign of the PieDAO governance system with token holders in mind: vote on key DAO matters and get compensated for your work every month.

The Staking & Governance mining release has implications that reach far beyond PieDAO: if individuals from across the world are able to get compensated for their expertise, instead of selling hours of their life for salary, this means we are entering the future of work driven by DAOs.

Staking at a glance:

• Any DOUGH holder can choose to stake for 6 to 36 months, and receive veDOUGH in exchange.
• The selected staking period and token amount will determine a user’s voting power and share of DAO profit. The value of long-term capital is higher than that of short-term capital.
• If veDOUGH holders participate in at least one vote per month, they will receive monthly cashflow rewarding them for their work. These rewards include treasury farming yield, protocol fees and other farmed tokens distributed in the form of a Reward Pie called SLICE, which can include BAL, CRV, and SUSHI, among others.
• Since only veDOUGH holders have voting power, this means no free-riding, no swaying votes for short-term gain, and true long-term alignment for the future of PieDAO.

Stake early, receive your share of over $600k distributed in the first month

As a reward for those community members that stake in the first month, over $600k* are waiting to be distributed as cashflows at the end of the first 30-day period. These rewards have been cumulated over the past few months of hard work of our Treasury Farming Committee, as well as the success of our products.

*the value is based on spot prices of 29/09/2021

The how-to guide on Staking

If you already have DOUGH in your wallet, please follow the steps below to participate in staking. If you don’t have DOUGH just yet, head over to 1inch to buy some ahead of time — and then follow the instructions below.

1. Go to the Dough Staking page (Live Monday, Oct. 4th)
2. Connect your wallet and add veDough to Metamask
3. Select the amount of Dough to Stake
4. Select the time period (in months)
5. Click on ‘Stake Dough’
6. Voila — you’re done!

If you run into any issues please reach out to us on the PieDAO Discord channel here.

Where can I learn more?

• Check out our user guide for Staking here;
• Join the PieDAO live Q&A on Monday October 4th, 4PM UTC on our Discord’s meeting channel;
• Try our staking simulator here to estimate how much you can get for a given DOUGH amount and your desired lock-up period.

Announcing DOUGH Staking was originally published in PieDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

Earlier this week we published an ambitious product roadmap, including major releases like DOUGH native staking and upgraded governance, the launch of Treasury Vaults — a new product line offering DAO treasury management services, PieVaults V2, and much more.

Beyond the dense product roadmap, we’ve been forging core partnerships to accelerate PieDAO’s journey towards aggressive growth.

We are thrilled to announce one of such partners to be the leading market making firm in the crypto industry, Wintermute.

Wintermute have undertaken to ensure consistent liquidity across decentralised and centralised markets for DOUGH, while making it part of their mission to make the total value locked in Pies skyrocket to hundreds of millions, making them easily accessible to a larger number of users.

Beyond the market making services, Wintermute is aligning its interests with the DAO by looking to building a position in DOUGH, and intending to get actively involved in governance.

Why we chose Wintermute

Wintermute has built a reputation of a leading market-maker in the industry over the past 4 years. With over $4bn average daily trading volumes, Wintermute provides liquid markets for the most high-quality projects across Tier 1 centralised and decentralised exchanges.

In addition to their excellent historical performance, the leadership team has a strong experience in the ETF markets, and is committed to (and capable of) making index products a core theme of 2021 by putting them on the map in terms of liquidity.

What does this mean for PieDAO?

1. Further decentralisation of the network’s governance, as DOUGH becomes more liquid and more easily accessible across platforms.

Wintermute will market make for DOUGH, the PieDAO governance token, as well as assist in listing in on the highest tier exchanges globally, ensuring anyone can easily become a DAO member and participate in its governance.

2. Bringing the TVL of Pies from tens of millions to hundreds of millions

One of the core bottlenecks for achieving higher Total Value Locked for Pies is simply the lack of liquid markets that would facilitate the in- and off-boarding for a larger amount of users. This is precisely what Wintermute intends to address, by facilitating the listing of Pies across centralised and decentralised exchanges, and ensuring consistently high levels of liquidity.

3. An market expert joining the PieDAO governance

Beyond providing its market maker services, Wintermute itself is looking to become a DAO member by building a significant DOUGH position, and intending to be an active participant in governance matters, bringing its expertise and ETF market knowledge to the table.

Announcing Partnership with Wintermute to Create Liquid Markets for DOUGH and Pies was originally published in PieDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

Since PieDAO was born just over a year ago, our mission has been to fix the financial system, and make wealth creation accessible to anyone with the internet connection, no matter their background, financial status, or geographic location.

Compounding wealth has traditionally been the reserved for the 1%, leaving the 99% of us having to spend the majority of our lives focusing hard on earning income, month by month, year by year.

PieDAO products are designed to make it easy for anyone to jump onto the self-driving wealth creation machine, leveraging the openness of crypto networks; composability of DeFi tools; and the immensely talented people in our community.

We strongly believe it’s the people that make the most difference as to whether a dream lives or dies, and we are determined to make our dream of an inclusive financial system come true.

This is why we are looking for the brightest, most committed, visionary, and fearless individuals out there to join our mission and help us execute on our ambitious roadmap across the Engineering, Marketing and Product departments.

🧑🏽‍💻Software Engineer

A stellar full-stack engineer to influence and contribute to the creation, design, and execution of our products ensuring a high quality user experience across the board.

Read more & apply here →

🤓 Smart Contract Engineer

An experienced engineer well versed in Solidity, capable of taking ownership of the design & implementation of smart contracts that interact with several DeFi protocols on Ethereum, as well as infrastructure for on-chain voting and staking.

Read more & apply here →

🎯 Product Manager

A hyper-organised & experienced product manager that will influence the product strategy and work across teams to guide the products from inception through to launch and beyond. The perfect candidate will have strong adherence to processes, while remaining highly adaptable to fast-changing environments our industry often posits.

Read more & apply here →

📣 Head of Marketing

A visionary and inspiring individual capable of taking ownership of our marketing strategies, leading the project & the community to aggressive growth. The dream candidate would be resourceful when it comes to strategies, have a war chest of growth-hacking techniques, and be able to work with external partners like PR firms.

Read more & apply here →

PieDAO Talent Referral Program

Inspired by the UMA talent referrals, we are launching a reward mechanism of our own for all those that help us build a rockstar team.

The purpose of this program is to ensure we span as wide a reach as possible through every corner of the world and every part of our community, while correctly aligning incentives for the long term. We hope that through the net this program can cast, we will tap into the strongest — and sometimes not yet widely acknowledged — talent, that we would have otherwise missed.

Anyone can participate in the referral program, and the rules are simple:

1. Take a good look at the roles we are looking for — your referred candidate has to be a fit for one of these roles to qualify.
2. Fill out this Referral form, specifying the name & contact details of the individual you’d like to refer, as well as your own wallet address (this is where you will receive your reward, should the referral be successful).
   It’s important that you include the contact details of the person you’d like to refer, otherwise we won’t have the opportunity to assess them.
3. If the candidate successfully passes through the first stage of the interview process (the initial call), you will be rewarded with 300 DOUGH, the PieDAO governance token (~$500 at current price). This will be sent directly to the address you specified in the Referral form.
4. If the candidate gets hired, you will receive 1,200 DOUGH (~$2,000) on the hire’s first day of work — to the same wallet address.
5. If the person is still with us 12 months from their starting date, this means your referral was a hit, we formed a long-term partnership, and we will deliver the final reward of 6,000 DOUGH (~$10,000) to your wallet address.

That’s it! One thing to note — candidates can’t refer themselves :) If you think you’re a perfect fit for any of the roles above, just apply — and we’d love to chat with you.

The Referral Form can be found here.

PieDAO is Expanding the Core Team and Open-Sourcing the Search for Talent was originally published in PieDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

Following the successful governance vote, we are thrilled to announce the launch of brand-new DOUGHpamine incentive program to spearhead PieDAO’s growth in this new chapter.

The new incentive program is designed to boost liquidity provision for DOUGH & PIEs, therefore removing friction for purchasing both our governance token and Pie index products and enabling anyone to take control of their financial future.

The new features of the program include:

• Putting DOUGH into the heart of the PieDAO ecosystem by making it the core Pie / DOUGH pair
• Initially launching with DOUGH / ETH and PLAY / DOUGH on Monday, 12th April at 3pm UTC
• Doubling the rewards amounts compared to previous incentives, and a 4x in the first month to celebrate the launch!

🔥 An indicative APRs for a $1m liquidity on DOUGH / ETH pool is 1200%, and for PLAY / DOUGH as much as 2400% in the first month. 🔥

• Migrating the rewards to Sushiswap, which is currently the only DEX allowing for the multi-hop feature (swapping ETH > DOUGH > PIE in one click).
• Majority of the rewards to come escrowed, and liquidity providers will soon be able to benefit from compounding returns thanks to DOUGH staking (watch this space!).

🚀 Boosting DOUGH’s place in the heart of the PieDAO ecosystem

In the new incentive program, all liquidity pools for PIEs will be constructed as “PIE”/ DOUGH pairs. In addition to promoting the deep DOUGH / ETH pool where most trades would eventually get routed through, this will bring a number of other benefits, thanks to Sushiswap’s multi-hops feature for the routing of swap orders across different pools. Primarily:

• Drastic improvement of liquidity across multiple PieDAO products on a unique AMM. All PIE / DOUGH pools would in fact synergistically leverage on a common DOUGH / ETH pool, that could be further incentivized for deeper liquidity.
• Building of a whole new use case for DOUGH, on top of the current governance, meta-governance, and active collector of revenue streams from PieDAO products. All liquidity pools would in fact require the allocation of a 50% weight to DOUGH, soaking a large chunk of the available supply and driving further demand for our governance token.
• Establish a correlation of DOUGH to the DeFi, Gaming and NFTs ecosystems. DOUGH has been historically following a fairly uncorrelated path vs most of DeFi tokens. By tying in together DOUGH with PIEs that represent the best of the various ecosystems, a higher degree of correlation would be established.

💰 How can I participate in liquidity rewards?

DOUGH <> ETH

1. From the DOUGH / ETH Sushiswap page select the + Liquidity tab
2. Select how much DOUGH and ETH you want to add
3. Sign the approval transactions
4. Sign the deposit transaction
5. Now you have SLP (sushiswap liquidity tokens), navigate to the PieDAO staking page: https://www.piedao.org/#/staking/dough-eth
6. Select the DOUGH / ETH farm and hit ‘deposit SLP’
7. Sign the approval and deposit transactions

PLAY <> DOUGH

1. From the PLAY / DOUGH Sushiswap page select the + Liquidity tab
2. Select how much PLAY and DOUGH you want to add
3. Sign the approval transactions
4. Sign the deposit transaction
5. Now you have SLP (sushiswap liquidity tokens), navigate to the PieDAO staking page
6. Select the PLAY / DOUGH farm and hit ‘deposit SLP’
7. Sign the approval and deposit transactions

For more detail on the liquidity rewards, including the withdrawal fees, per-block issuance, and what happens to other liquidity pools jump over to the Forum post introducing the initiative.

This liquidity boost comes together with a proposal of collaboration from Wintermute, one of the strongest and best known market makers in the ecosystem, currently being voted on by governance members. If approved, Wintermute will undertake to market-make for both DOUGH and Pies, making it part of their mission to help Pies reach hundreds of millions in TVL by 2022.

Mark your calendars and join DOUGH / ETH and PLAY / DOUGH liquidity pools from 3pm UTC on Monday, 12th April to earn the DOUGHpamine rewards! 💸

Announcing DOUGHpamine: Liquidity Rewards on Steroids to Fuel PieDAO’s growth 🚀 was originally published in PieDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

**Update from 26th March, 23:30 UTC**:

After a little bumps in the road, PLAY has completed the initial baking. 612,526.25 PLAY have been baked and airdropped to members depositing in the Oven which was paused. The current Market Cap is approx: $650,000. The baking session was 6 ETH (approx $10,000) which user have saved by baking together

From the entire core team, we want to thank every community member for the support, we truly felt the love.

As a token of appreciation for your bravery in trying the new experimental Oven, $100 of DOUGH has been airdropped to the 269 address joining us in this adventure.

PLAY Airdrop Tx https://etherscan.io/tx/0x92160648fc28fe10b19dc8fef27a58fda618643609c5ceb2061eaf209b10dac9

DOUGH Airdrop Txs https://etherscan.io/tx/0xfed5cf55248e2e82461af7b06a07b07cb4a6f371d7c0601224eb5a3ada15fa54 https://etherscan.io/tx/0x30f4e8cc3b28306be5681fc40474600d1b0fa9e7ebbf93ca9981fcb7125b9035 https://etherscan.io/tx/0x7d850b1f367581cb2cbe629f80251dcc825d41bd38330dfbfb4fa899b4626891

The PieDAO development team has worked days and nights to bring to light the long-awaited Oven V2 update, making one of our most-loved features more generalised, supporting a myriad of new use cases, including multiple input assets, collective liquidity provision, arbitrage, and much more — both within the PieDAO ecosystem and DeFi as a whole.

The goal is and has always been to make wealth creation accessible to every single user, no matter where they are or their financial status.

We piloted Oven V2 early this week with our newly launched PLAY, a gaming & NFT ecosystem Pie, and had tremendous success with our loyal community of early adopters.

Despite passing a thorough audit and multiple meticulous checks, some of our early users helped us identify bugs that need to urgently be addressed, before Oven V2 can be deployed again. In the meantime, Oven V1 will continue being operational.

Please be assured that no funds were lost, and our development team will now consider to manually bake all deposited ETH into PLAY, and airdrop it to respective users. While we are confident this will work, at the absolute worst case scenario all users will get their entire ETH deposit back.

For clarity, PLAY is not affected by the bug, which is limited to Oven V2. However, due to technical compatibility, it is currently not possible to bake PLAY with Oven V1. The minting of PLAY should resume as soon as possible as we add it to the number of Pies bakeable with Oven V1, and as secondary markets for PLAY open on decentralised exchanges.

We cannot stress how much we apologise for the issue, and how much we appreciate the patience of every single user involved. Together we are building an entirely new financial system where everyone can participate in wealth creation, with no barriers or moats to stop them.

It is inevitable that issues will be found on the way, but we are confident that with the help of our community we will bring this vision to life.

To reward our early adopters who continuously help us test and iterate the PieDAO products, and to apologise for the inconvenience caused by the Oven V2 bug, we will airdrop $100 worth of $DOUGH as ‘proof-of-experimentation’ for every user who deposited funds into Oven V2 over the past few days.

By doing this, we would love to encourage your further participation in PieDAO governance, and help spearhead our mission forward.

PieDAO is Pausing Oven V2 Deployment Until Further Notice, and Rewards for Early Adopters was originally published in PieDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

Since I first joined what subsequently became the Fabric family in the summer of 2015, I’ve been falling in love with the world of venture more and more day by day.

The journey of founding Fabric has been nothing short of building a startup: the never-ending hustle; the juggling of limited resources for maximum impact; the unceasing deck updates; the crafting of the story to depict the future you are after; and, most importantly, trying to get the most talented people excited by your vision.

Over the past few months I’ve come to realise more vividly that nurturing something into existence and shaping its story is what makes me excited to wake up each morning. There’s nothing quite like building a brand that others want to be a part of, contribute to, and carry onwards.

I admire the founders I have worked with for their bravery, unquenchable spark, and unshakable vision of a better future. Their passion is what has energised and driven me for the past five years, and now I feel like I’m craving a taste of what it feels like.

So, as of August, I am leaving my full-time role at Fabric to try and build something new. Whether it works out or not, I cannot express how excited I am to try.

I am beyond grateful to my team at Fabric, the incredible founders I’ve encountered, and everyone else I’ve been lucky to meet on this journey for putting this spark in me and encouraging me to try this new adventure.

I am also happy to share I’ve received an endorsement from TechNation for a Global Talent Visa in the UK, and fingers crossed all will go smoothly with the rest of the visa process.

I am in the process of validating the project idea, and will likely soon start raising an angel round. Please reach out to me on twitter, email, or telegram if you are keen to get involved in any way, or just to grab a coffee & share ideas.

To new beginnings! 🥂