PieDAO, the pioneering decentralized autonomous organization (DAO) behind leading tokenized portfolios is launching staking for its governance token, $DOUGH, going live at 3pm UTC on October 4th, 2021. The new staking mechanism will ensure that the DAO members who govern diversified portfolios with added income-generating strategies, will be incentivized to actively participate in the organization’s decision-making process. Termed veDOUGH, the staked DOUGH token is designed to promote long-term alignment and add valuable utility to the platform’s token.
Committed to empowering financial freedom by bringing professional diversification to the decentralized finance (DeFi) space, PieDAO is comprised of a network of crypto-native financial experts – (currently) DOUGH holders – who carefully curate portfolios of tokenized assets termed “Pies.” DOUGH staking creates a mechanism for distributing fees generated by these Pies – together with all other revenues of the DAO – back to the DOUGH holders who created them. Beyond the fees generated from Pies, one of the DAO’s key sources of revenues is Treasury Farming: PieDAO has started off using $16m of its treasury to generate income across the established DeFi platforms, as determined by the specially established expert Treasury Committee.
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veDOUGH will serve as a mechanism for PieDAO’s revenue distribution, ensuring that DAO members who participate in governance decisions are compensated for their participation. Because long-term capital is considered more valuable than short-term capital, PieDAO members who stake their DOUGH for longer periods of time will receive higher incentives such as increased voting power and a higher portion of rewards. The incentive structure simultaneously encourages PieDAO members to contribute to further work streams of the DAO, including growth and business development, ensuring the long-term success of products.
As a reward for early stakers, close to $1m of PieDAO’s revenues generated to date will be distributed at the conclusion of the first 30-day period and will go to those who had staked during this time.
These rewards are distributed through a diverse basket of tokens known as a “Reward Pie” ($SLICE), which veDOUGH holders will only be able to access if they took part in PieDAO’s governance processes during the previous 30 days. PieDAO considers cross-protocol cooperation to be crucial for DeFi, and as such they made the decision to directly include in the Rewards Pie farmed assets determined by the dedicated farming committee, avoiding parasitically sellouts which could have harmful effects on the DeFi economy.
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“PieDAO is dedicated to making wealth creation something that everyone can benefit from, not just a select few. This is made possible through the expertise and participation of governance token holders — they are the ones who take the time to carefully curate Pies with optimal returns. And now with DOUGH staking, these experts are further incentivized to produce the best product possible,” said Alessio Delmonti, a PieDAO coordinator. “This will have lasting positive implications for our entire community and help achieve our goal of wealth accessibility for all.”
PieDAO’s introduction of DOUGH staking begins a new phase of highly participatory governance for the DAO, set to ensure that the Pies being offered to users are created by a consistent group of financial experts who have a strong pulse on DeFi market trends. By ensuring that veDOUGH token holders curate optimal Pies for users, DOUGH staking will make it possible for users outside the PieDAO community to invest in diverse and carefully curated baskets of assets free from the demands on time, money, and expertise that can hinder individuals’ ability to access opportunities for passive wealth creation.
“With this announcement, we’re not just making a breakthrough for our community, but taking the concept of DAOs to a whole new level: you can now seriously consider leaving your day job and switching to DAO-governing full time. To me, this is truly the future of work: being compensated for your expertise, without going through a highly exclusive hiring process, adhering to 9-5 rules, or being tied to one geographic location,” said Anastasya Belyaeva, a PieDAO member focused on growth & community.
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