PieDAO and Linear Finance collaborate to create synthetic tokens for diversified DeFi indexes »CryptoNinjas
PieDAO, a decentralized asset management company with a tokenized portfolio managed by a network of financial experts, today announced the establishment of a strategic partnership with Linear Finance, a cross-chain synthetic asset agreement, to create a synthetic token, including its large and small Decentralized financial index funds, DeFi+L and DeFi+S.
The new token LDEFI will enable investors to access various DeFi tokens without holding relevant assets. This mutually beneficial cooperation combines PieDAO’s meticulously researched index method with Linear Finance’s Linear.Exchange to list upcoming synthetic tokens, expand portfolio diversification, and bring users’ favorite cross-chain DeFi indexes.
LDEFI will be listed on June 17, allowing token holders to collectively invest in DeFi tokens, including Chainlink’s LINK, Maker (MKR), Aave, Uniswap’s UNI, Yearn.finance (YFI), Compound’s COMP, Synthetix ( SNX) and SushiSwap (sushi). Plus projects include UMA, Ren, Loopring (LRC), Balancer (BAL), pNetwork (PNT) and Enzyme (MLN). This community-curated combination allows investors to access a wide range of agreements, including decentralized stablecoins, derivatives, price oracles, and layer 2 scaling solutions.
The new synthetic token reflects the price trend of the existing PieDAO index Defi++, and consists of a 70% large-cap stock and 30% small-cap stock portfolio-this is an example of the modularity and composability brought by DeFi.
Users will be able to access the portfolio managed by PieDAO on the Binance Smart Chain, and will soon be able to access it on Polkadot; at the same time, thanks to the protocol architecture of Linear Finance, they can enter and exit portfolio positions at low cost without slippage and Liquidity restrictions.
“Traditionally, synthetic assets have brought new flexibility to investors who wish to invest without holding the underlying assets. By tokenizing different types of assets, we have further improved flexibility in terms of DeFi elements. Sex; Brings the ability to invest in multiple asset classes on a single platform. Our goal is to eliminate traditional entry barriers such as time, money, and expertise so that users can start participating in DeFi without hesitation or hesitation.”
– Kevin Tai, co-founder of Linear Finance
Managed by Padao
The synthetic index tokens will be composed, maintained and managed by PieDAO’s evolving decentralized community; including core members of Synthetix, Compound, MakerDAO and other projects. The community will be responsible for planning LDEFI tokens, deploying strategies, and sharing monthly data sets before regular “Pie” (digital asset portfolio) rebalancing.
“Defi++ is indeed the most diverse and highest-yielding index in the market, setting the industry standard for all upcoming DeFi asset allocations. Now, with the development of the new synthetic LDEFI token on Linear.Exchange, we also eliminate it for users. The problem of liquidity. The Linear Finance team supports PieDAO’s unique diversified approach, which stems from weeks of community research and discussion; we are very happy to continue our mission to have an excellent partner by our side for everyone Bring automated wealth creation.”
– Alessio Delmonti, contributor to PieDAO
Recently, PieDAO partnered with NFTX to expand its diversified portfolio, including new Ethereum games and Metaverse Index Play. Index tokens allow investors to access a tokenized basket of irreplaceable index tokens. Looking ahead, PieDAO will seek to introduce other synthetic versions of assets into Linear Finance’s asset agreement.