PieDAO, a leading tokenized asset management portfolio, has secured a partnership with Linear Finance to create a new synthetic token $LDEFI.
PieDAO disclosed the partnership via an official statement shared with Altcoin Buzz. The statement noted that the new synthetic token will be comprised of both its large-cap and small-cap decentralized finance (DeFi) index funds, DEFI+L, and DEFI+S.
The statement explained that the partnership will focus on boosting PieDAO’s vision towards attaining financial freedom for everyone. Additionally, that it would aim to improve access to top-performing DeFi projects in the blockchains industry for everyone.
As a result of the collaboration, PieDAO sets out to deliver a governance layer to tokenized portfolio allocations via the LDEFI token. This would be available to everyone on the Ethereum network, furthering PieDAO’s vision of bringing market accessibility, and economic empowerment to all.
Listed on June 17, 2021, LDEFI will provide investors with access to a variety of DeFi tokens without the need to hold the underlying assets.
Token holders will be able to collectively invest in blue-chip DeFi tokens including LINK, MKR and AAVE. Additionally, holders will also be able to invest in UNI, YFI, COMP, SNX, SUSHI, and high-growth projects including UMA, REN, LRC, BAL, PNT, and MLN.
Notably, the new synthetic token records the price action of an existing PieDAO index, DEFI++. This index benefits from PieDAO’s innovative PieVault architecture which allows users to access passive income via active yield-generating strategies. This aspect is currently applied to the ‘large cap’ allocation of the portfolio.
Linear Finance to Take Flexibility a Step Further
Kevin Tai, Co-founder of Linear Finance, in his statement also noted that the firm aims to take flexibility a step further with DeFi elements. The aim is to tokenize different kinds of assets, bringing the ability to invest in multiple asset classes on a single platform.
According to him, “Synthetic assets have traditionally brought newfound flexibility to investors looking to make investments without holding the underlying asset.”
Tai further noted that the partnership will help eliminate traditional barriers to entry like time, money, and expertise. This would increase adoption by allowing users to participate in DeFi without any fears, or hesitations.
Additionally, users will be able to access the PieDAO managed portfolio on Binance Smart Chain (BSC) and, in time, also Polkadot. This allows users to trade in and out of portfolio positions at a low cost, without slippage, and without liquidity limitations due to Linear Finance’s protocol architecture.
Furthermore, PieDAO noted that the synthetic token will be composed, maintained, and managed by its “community of DeFi pioneers.” These pioneers would be responsible for curating the token, deploying strategies, and sharing monthly data sets ahead of regular “Pie” (digital asset portfolio) rebalancings.
LINA, DOUGH Price
At the time of publication, LINA was trading at $0.03315785, with a market cap of $82,121,767, and a 24-hour trading volume of $10,908,158.
Meanwhile, DOUGH’s price was down by 2.9%. The token was trading at $0.630343, with a market cap of $10,059,191, and a 24-hour trading volume of $179,458.
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