It’s time for the monthly rebalancing of the ℓDEFI index.

For those not familiar with the rebalancing process it can be simplified into the following steps:

PieDAO provides Linear with the current month’s weightings in spreadsheet format → Linear provides its Oracle partners the spreadsheet → the Oracle partners provide Linear with the updated price data feed for ℓDEFI.

The table and pie chart below shows the resulting percentage allocations which were computed by adjusting the average market cap of all underlying’s over the past 30 days.

About Linear Finance

Linear Finance is a cross-chain compatible, decentralized delta-one asset protocol. It allows users to get synthetic exposure to various assets, including cryptocurrency, commodities, and market indices. Users can utilize our cross-chain swap functionality to instantly swap assets across leading blockchain environments and DeFi protocols. With unlimited liquidity and zero slippage.

Website | Twitter

About PieDAO

PieDAO is a community DAO focusing on tokenising automated wealth creation strategies. The DAO’s first line of products are Balancer Smart Pools, constant weight index funds, PieVaults, yield-generating tokenized portfolio allocations with productive assets, and The Oven, a system that allows users to save gas on expensive transactions by batching them together.

Website | Twitter

SOURCE:

https://medium.com/linear-finance/ℓdefi-july-rebalancing-41caf3b2d45b

The post Linear & PieDAO ℓDEFI Rebalancing appeared first on Smart Liquidity Research.

Participating parties

The acquisition is between two DAOs in the crypto indices space on Ethereum:

• PieDAO is a user-owned community that provides mechanisms that aim to generate wealth. It was the first to propose crypto index products (known as PIEs).
• BasketDAO was a protocol that offered yield-bearing crypto indices powered by Yearn. Their products targeted long-term passive investors with features such as no management fees.

At the core, both projects have a similar goal: offering products that allow users to capture the wealth crypto is creating. The similarities don’t stop there. For example, BasketDAO’s flagship token BDI is conceptually a PieVault. As a reminder, PieVaults allow for lending, staking, and yield-farming of underlying assets. This natural fit between both projects allowed acquisition talks to move quickly.

The proposal

The passed proposal provides a migration option for BDI holders. BDI holders will be able to deposit their tokens into the mixer and exchange them for DeFi token.

1. Migration to PieDAO of the residual TVL in $BDI, BasketDAO’s DeFi Index 3 (~$1.76M*)
2. Onboarding of the BasketDAO community into PieDAO

*all figures as of April 25th 2022

Timeline

• PieDAO governance vote complete | May 11th, 2022
• Migration contract deployment | May 23rd, 2022
• Migration dates| Open: Jun 29th, 2022 / Close: Jul 21st, 2022
• KPI Options: Snapshot taken | Target date: Jul 21st, 2022
• KPI Options mint day | Target date to be announced at PieDAO’s discord
• Options expiration | 12 months from Options mint date

About PieDAO

PieDAO is the asset allocation DAO for decentralized market-weighted portfolio allocations.

Website | Twitter

SOURCE:

https://medium.com/piedao/piedao-acquires-basketdao-welcome-to-the-family-168881889c99

The post PieDAO Acquires BasketDAO appeared first on Smart Liquidity Research.