The PieDAO Manifesto
Our Financial System is Broken
PieDAO was born with a mission to make wealth creation something every single human being could benefit from, not just the lucky few.
For as long as the modern-day financial system has existed, the ability to achieve financial freedom has been available exclusively to those who had (some) wealth to begin with: more often than not, one needed to be born to a successful family, have access to strong financial education, and initial capital to play with.
For the rest of us, getting from 0 to 1 in wealth creation is a gigantic chasm extremely hard to overcome, meaning that we have to spend most of our lives focusing on earning income, never quite getting to the stage of actually accumulating wealth.
Many of the PieDAO summoners and early members have experienced this first hand, including me.
I come from a lower-middle-class family, no one in my family went to college before my sister and the only talk about money I recall as a kid was related to the fact that we didn’t have enough of those.
One night at my friend’s place I heard, for the first time ever in my life, his father talk about gold investing and the concept of risk management. I also learned that since my friend was born they started preparing for when he would get married and invested for him a bit of money every single month into gold, bonds, and some stocks. I learned that money grew every single year making even more money. I was shocked to learn my best friend had so much wealth ready to start his adult life without him having to do anything while I was grinding every single euro coding at night.
The Light At The End Of The Tunnel — But Not For All
The introduction of crypto networks and decentralized finance has offered countless improvements to the way our financial system operates, often removing geographical barriers and permission-seeking of traditional systems, but we must admit that financial inclusion has not been one of them.
The majority of DeFi products still have a very high barrier to entry across a number of dimensions:
- They require significant technical knowledge (expertise)
- They require a significant amount of time investment to monitor trends and markets on a regular basis (time)
- They have high transaction fees (money)
These prerequisites of expertise, time, and money make access to DeFI a luxury available to a select few.
We strongly believe that this vicious cycle should cease to exist, and that anyone should be able to have control over their financial future, no matter the country they live in, their economic status, their level of technical expertise, or financial education.
Can We Do Better?
The PieDAO community envisions a world where wealth creation is a passive, automated process accessible to anyone with an internet connection without heavy prerequisites, while strategies to create wealth are in the hands of the most objectively talented individuals, distributed across the globe and correctly incentivized.
PieDAO is a community completely decentralized from day one, whose task is to govern the ecosystem of products designed to make this future possible.
The core products of PieDAO are carefully curated baskets of assets, traditionally known as ETFs — or Pies as they are referred to in our ecosystem.
Pies are designed for regular people with a busy lifestyle, little to no starting capital, and no time to spend watching the DeFi twitter trying to catch the next big hit.
DOUGH, the PieDAO governance token, is the driving force behind the entire ecosystem, allowing people across the globe to make decisions on what products to create, what strategies to deploy, and what assets to include.
DOUGH holders are rewarded for their effort by receiving a share of the revenue generated through Pies. DOUGH holders and therefore fully aligned with the long-term success of PieDAO: the greater the individual Pies, the greater their returns.
A Self-Driving Wealth Creation Machine
By holding Pies, users get diversified exposure to the best-performing assets in crypto, delegating the choice to their very own ‘asset managers’ — the $DOUGH holders — who do, indeed, spend countless hours watching the DeFi trends and carefully curating the crème-de-la-crème. This spares users the need to have deep technical knowledge and the time required to stay in the know.
On top of being exposed to top-performers, users can benefit from automated yield generation strategies, as was made possible in PieVaults — a unique architecture that optimizes for enhanced security and greater returns at the same time. In PieVaults, every asset is utilised for its maximum intrinsic productivity, deploying active strategies like staking, lending, and yield-farming in a fully automated way, tailored to each individual asset. For users, this means they can create wealth in a ‘set and forget’ fashion — ****something that was previously not possible.
Finally, we’ve made it our mission to eliminate the financial barrier to entry by making it possible to purchase Pies almost gas-free with our Oven.
Traditionally, the process of creating crypto-asset ETF products has been expensive, requiring significant transaction cost and therefore acting as a barrier to entry for many. PieDAO truly capitalises on the power of community by allowing users to pool their capital and share gas costs to reduce the make on-boarding and off-boarding cheaper for everyone.
Set for Growth
From its inception in early 2020, PieDAO has attracted the brightest talent and the most loyal and committed community. Every week has been spent refining products, with the community proposing and voting on new products, updates, and integrations.
Our recent user survey has shown that close to 50% of our users would be heartbroken without the PieDAO products. This number is widely used to indicate whether product-market-fit has been achieved.
The past month has seen a sharp increase in the usage of Pies, growing from $8m total value locked to over $25m today. And this is just the beginning.
Last week we have rolled out a Product Roadmap proposal for Q1 2021, responding to the most frequently requested features and product upgrades, upgrading the user-loved Oven, migrating PieSmartPools to PieVaults, and improving user experience through the personal dashboard, risk score system, and much more.
It’s now time to get the PieDAO products and governance into the hands of as many users as possible. As a step towards wider distribution, we are thrilled that MXC has decided to list the PieDAO governance token, $DOUGH. This is a huge step in growing our Asian community, and the very beginning in reaching a wider distribution globally, so that anyone, anywhere on the planet could take control of their financial future.
To Learn More About PieDAO
Introducing PieDAO, the asset allocation DAO.
The Pie DAO is a decentralized organization dedicated to bringing market accessibility and economic empowerment by…
PieVaults: Maximise Yield, Minimise Risk.
One of the most exciting developments from our community has been the emergence of PieVaults.
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: