Announcing YPIE PieVault and Sushiswap Collaboration

Yearn Ecosystem PieVault: DeFi’s First Index With Native Staking

Nushi
PieDAO
4 min readDec 24, 2020

--

Yearn Ecosystem Pie

The community asked for it, the DAO delivered.

Today we’re proud to officially launch the Yearn Ecosystem PieVault, YPIE.

YPIE is PieDAO’s first PieVault and the industry’s first index to support native staking, as well as lending and meta-governance.

PieVaults are a brand new product type that tap into the underlying assets, actively using them across DeFi to provide multiple new benefits for their holders. Read the full PieVault announcement here to understand just how they work.

Our first vault YPIE provides complete exposure to the growing Yearn Finance Ecosystem and has been hotly anticipated both in the PieDAO and broader DeFi community.

Yearn Finance Ecosystem

Yearn has gained a powerful reputation in the DeFi scene. In recent weeks the protocol has integrated a number of other protocols, connecting developer resources and building a DeFi ecosystem.

YPIE is a complete representation of the core assets in this ecosystem. One easy to access ERC-20 gives balanced exposure to the growing Yearn Finance hub.

Let’s take a brief look at each of the projects included.

YFI - The backbone asset, used for Yearn governance and value capture.
SUSHI - Yearn’s AMM arm, easy ERC-20 token swaps and incentivized liquidity (more on this below).
KP3R - A network connecting protocols and developers.
COVER - KYC-free DeFi coverage to keep users safe
CREAM - Lending and borrowing.
PICKLE - Yield farming and rewards boosting.
AKRO - Institutional connections and decentralized tools

Core PieVault Features

Meta-governance
YPIE will ultimately enable meta-governance across each project, allowing DOUGH holders to vote gas-free in decisions. In this way DOUGH becomes a passport to governance across the entire Yearn Finance ecosystem.

Lending-bouncing
The PieVault also lends the underlying assets, bouncing between DeFi protocols such as Cream, Aave and Yearn in order to maintain the highest yield.

Native Staking
PieVaults are the industry’s first indices to enable native asset staking. PieVaults directly engage with a token’s protocol to stake the asset.

Sushiswap Collaboration

Today we’re also pleased to announce greater collaboration with our good friends at Sushiswap.

The cooperation has multiple components:

  • PieDAO’s YPIE, DeFi+L, BCP and DOUGH are all featured on Sushiswap’s new incentivized liquidity mining program, Onsen. The assets will be paired with ETH. Onsen rewards go live 25th December 12pm UTC.
  • PieDAO will soon provide additional DOUGH for these Sushiswap Liquidity pools for these pairs, enabling double yield.
  • PieVaults will use Sushiswap liquidity for single asset entry and the Oven.
  • YPIE is 36% SUSHI, and will actively stake in Sushiswap natively as xSUSHI, currently earning ~60% APY. (This decision is currently being voted on here).

Our communities are closely linked and today’s announcement cements this cooperation for mutual benefit. We couldn’t be happier!

Conclusion

PieVaults are a monumental step forward for the industry.

Lending-bouncing and native staking enable multiple revenues streams, so YPIE tokens will constantly accrue value, all without having to lift a finger.

Meta-governance transforms PieDAO into a voting hub, enabling gas-free participation across the Yearn Finance Ecosystem.

We’re also thrilled to be able to strengthen the connection between PieDAO, Sushiswap, and the Yearn Finance Ecosystem.

We look forward to seeing our communities continue to grow together and even greater collaborations in the future.

Get hold of YPIE gas-free using the Oven here, or check out our full Oven guide.

The PieDAO is a decentralized organization dedicated to bringing market accessibility and economic empowerment to anyone with an internet connection through Pie Protocol. Anybody in the public community may support these efforts by completing bounties, making feature requests, or proposing new Pies. DOUGH token holders are the DAO’s decision-makers, governing which proposals are accepted. If you want to know more about PieDAO:

PieDAO on Aragon

PieDAO website

Discord

PieDAO Forum

Official Documentation

Github

--

--

Nushi
PieDAO
Writer for

Winter Bears Founder, covering Ethereum/DeFi/NFTs/DAOs