The same day liquidity mining will kick-off for DOUGH/ETH and DEFI+S/ETHhttps://t.co/iXvGxeZeUI
— PieDAO (@PieDAO_DeFi) October 1, 2020
Ahead of their governance token migration to DOUGH v2, the PieDAO team announced the launch of a liquidity farming program aptly nicknamed “Dough Farming Season”. PieDAO enables the ability for anyone to create a tokenized portfolio allocation called “PIEs”. We previously covered PieDAO back in March of this year, which you can read about here.
In week 1, 250k DOUGH will be split pro-rata amongst liquidity providers staking on the PieDAO smart contracts. After week 1 all incentives will be capped at 150K DOUGH weekly, with this calculator provided by the PieDAO team to estimate your potential farming rewards.
There are three eligible Balancer pools to earn DOUGH rewards:
- 200k – DOUGH/ETH
- 25k – DAI/DEFI+S
- 25k – ETH/DEFI+S
Farmers will need to add liquidity via https://pools.piedao.org/ and then stake that liquidity via https://pools.piedao.org/#/stake to earn rewards.
For the Balancer listing, DOUGH will be added to an 80/20 pool starting at a base rate of 0.0015 ETH, the last price DOUGH was offered to contributors in Epoch 2.
PieDAO liquidity farming starts with the Balancer listing this Saturday, October 3rd at 6pm UTC. The team has made it clear that the distribution could be tweaked as they respond to market changes, but the plan is to reward liquidity providers and other users over the course of the next 12 months.
Distribution of the tokens will be linear next cca 12 months.
— DeFi++ (@DeFiOpFi) September 24, 2020
Since PieDAO is a decentralized organization, the native DOUGH token gives holders decision making power over proposals. If PIEs gain adoption, DOUGH token holders stand to accrue trading fees as governors of the PieDAO protocol.
Overall, the goal is to enable new financial opportunities for DeFi users regardless of who they are or where they’re located. The current barrier of entry to DeFi remains significant as the number of different tokens, markets, and overall mechanisms can make things overly complex for non-crypto native users. PieDAO attempts to solve this problem by introducing an easy way to diversify your digital asset allocation through tokenized baskets.
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