New Synthetic DeFi Token by PieDAO | Linear Finance
Leading tokenized asset management portfolio PieDAO has announced details of a strategic partnership with Linear Finance (LINA).
The partnership between Linear Finance and PieDAO focuses on creating a new synthetic token dubbed LDEFI. According to an official press release shared with Altcoin Buzz, the proposed synthetic token will be made up of PiedDAO’s large-cap (DEFI+L), and small-cap (DEFI+S) decentralized finance (DeFi) index funds.
The partnership with Linear Finance is a step in the right direction of achieving PieDAO’s goal: to provide financial freedom to all. Additionally, it combines PieDAO’s carefully researched index methodology with Linear Finance’s Linear.Exchange to list the upcoming synthetic token.”
The partnership will further improve users’ access to top DeFi projects in the blockchain and cryptocurrency space.
Thanks to the partnership, PieDAO will also launch a governance model. The governance layer will be directed at the tokenized portfolio allocation using the LDEFI token. Furthermore, the proposed governance layer will be open to everyone on the Ethereum network. This, in turn, will bring PieDAO closer to its vision of providing financial freedom to all.
More on LDEFI
The LDEFI token officially went live on June 17, 2021. Following its launch, the token will provide interested investors with access to a myriad of DeFi tokens without the need to hold real digital assets. LDEFI token holders will be able to invest in DeFi tokens like LINK, UNI, SNX, SUSHI, BAL, PNT, MLN, COMP, etc. Apart from providing access to DeFi projects, the partnership will also provide users with financial services ranging from decentralized stablecoins to derivatives to oracle protocols, and Layer 2 scaling solutions.
Currently, the synthetic token consists of 70% Large-cap (DEFI+L) index funds, and 30% Small-cap (DEFI+S) index fund portfolio. Linear Finance, via its top-notch protocol architecture, will make it possible for token holders to trade between portfolios without liquidity limitation, slippage, and at a low cost. The PieDAO portfolio is also currently available on Binance Smart Chain (BSC). Plans are, however, in place to launch on Polkadot.
Flexibility in The DeFi Space Receives a Boost
Speaking on the partnership, Co-founder of Linear Finance, Kelvin Tai, disclosed that synthetic assets in the crypto space have introduced a special kind of flexibility to crypto investors. Giving them the ability to “[…] make investments without holding the underlying asset.”
Tai further added that Linear finance takes this flexibility a notch higher by making it possible to tokenize a myriad of crypto assets. Therefore introducing the “[…] ability to invest in multiple asset classes on a single platform.” Adding that the partnership will help to eliminate conventional barriers to entry like time, money, and expertise. This would increase adoption by allowing users to participate in DeFi without any fears.
LDEFI will be governed and maintained by PieDAO’s rapidly growing community of DeFi pioneers, and enthusiasts. These fast-rising community members also include important members of top projects like MakerDAO, Synthetix, and Compound.
At the time of publication, DOUGH was trading at $0.465502 with a 24-hour Trading Volume of $81,380. The token price is up 1% over the last 24 hours.
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