Announcing Partnership with Wintermute to Create Liquid Markets for DOUGH and Pies
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.
