June 24, 2021 — PieDAO, the pioneering decentralized asset manager for tokenized portfolios governed by a network of financial experts, announced today a strategic partnership with cross-chain synthetic asset protocol Linear Finance to create a synthetic token comprising both its large and small-cap decentralized finance index funds, DeFi+L and DeFi+S. The new token, LDEFI, will give investors exposure to a wide variety of DeFi tokens without the need to hold the underlying assets. This mutually beneficial collaboration combines PieDAO’s carefully researched index methodology with Linear Finance’s Linear.Exchange to list the upcoming synthetic token, amplifying portfolio diversification and bringing users’ favorite cross-chain DeFi index.
LDEFI is set to list on June 17, allowing token holders to collectively invest in blue-chip DeFi tokens including Chainlink’s LINK, Maker (MKR), Aave, Uniswap’s UNI, Yearn.finance (YFI), Compound’s COMP, Synthetix (SNX) and SushiSwap (SUSHI), and high-growth projects including UMA, Ren, Loopring (LRC), Balancer (BAL), pNetwork (PNT) and Enzyme (MLN). This community-curated mix exposes investors to a wide range of financial services including decentralized stablecoins, derivatives, price oracles and layer-two scaling solutions.
The new synthetic token mirrors the price action of an existing PieDAO index, Defi++ and consists of 70% large-cap and 30% small-cap portfolios — an example of modularity and composability brought by DeFi.
Users will be able to access the PieDAO-managed portfolio on the Binance Smart Chain and soon Polkadot, all while being able to trade in and out of portfolio positions at a low cost without slippage and liquidity limitations due to Linear Finance’s protocol architecture.
“Synthetic assets have traditionally brought newfound flexibility to investors looking to make investments without holding the underlying asset. We take flexibility a step further with DeFi elements by tokenizing different kinds of assets, bringing the ability to invest in multiple asset classes on a single platform,” said Kevin Tai, co-founder of Linear Finance, adding, “We are aiming to eliminate traditional barriers to entry like time, money and expertise so users can start participating in DeFi without any fears or hesitations.”
The synthetic token will be composed, maintained and managed by PieDAO’s growing decentralized community of DeFi pioneers, which includes core members of projects such as Synthetix, Compound and MakerDAO. The community will be responsible for curating the LDEFI token, deploying strategies and sharing monthly data sets ahead of regular “Pie” (digital asset portfolio) rebalancings.
“Defi++ is truly the most diversified and yield-bearing index in the market, setting the industry standard for all forthcoming DeFi asset allocations. And now, with the development of the new synthetic LDEFI token on Linear.Exchange, we’ve eliminated liquidity issues for users too,” said Alessio Delmonti, a contributor at PieDAO, adding, “The Linear Finance team champions PieDAO’s unique diversification methodology that stems from weeks of community research and discussion, and we’re thrilled to continue on our mission to bring automated wealth creation to all with a fantastic partner by our side.”
Most recently, PieDAO collaborated with NFTX to expand its diversified investment portfolios to include a new Ethereum gaming and metaverse index, Play, that allows investors to get exposure to a tokenized basket of nonfungible token index tokens. Moving forward, PieDAO will look to bring other synthetic versions of assets to Linear Finance’s asset protocol. To learn more about PieDAO and its growing number of investment portfolios, please visit its website.
About PieDAO
PieDAO is a decentralized asset manager for digital asset portfolios committed to removing traditional barriers to wealth creation. PieDAO combines the convenience of passively-held, diversified baskets of assets with active, high-return investment strategies by tasking its DOUGH token holders with curating tokenized portfolios (also known as “Pies”) for users to invest in regardless of the time, knowledge or money they are able to expend. By incentivizing an alliance between DOUGH token holders and users, PieDAO will create a new path to financial independence for anyone with an internet connection. Learn more at https://www.piedao.org/.
About Linear Finance
Linear Finance is the first compatible, decentralized cross-chain delta-one asset protocol to quickly and cost-effectively create, trade and manage liquid assets, or Liquids, and creative thematic digital traded funds. Its Liquids provide users with one-to-one exposure to real-world assets without the need to purchase the actual commodity, making financial products such as stocks, indices, exchange-traded funds and commodities tradable on the Ethereum Network and the Binance Smart Chain network. Linear Finance provides a low-cost, easy-to-use exchange for an investor to invest in multiple asset classes on a single platform. Learn more at https://linear.finance/.