PieDAO is the newest way to manage crypto index funds
PieDAO is bringing collective governance to smart token indexes, allowing users to invest in Bitcoin, Ethereum and other crypto assets in a whole new way.
What happens when a new community emerges to combine their financial IQ into automated smart indexes? The creators of PieDAO intend to find out.
Developed by the minds behind cryptocrypto wallet Dexwallet and point-of-sale service Dexpay, PieDAO is a new decentralized organization allowing its users to vote on the creation and parameters of pooled index funds composed of different ERC20 tokens on the Balancer protocol. PieDAO’s DOUGH token is used for governance, and the DAO infrastructure for the project is provided by Aragon.
Think of it as a decentralized ETF—pooled tokenstokens that can be traded as assets themselves, just like a traditional exchange-traded fund.
Balancer, a non-custodial portfolio manager and liquidity provider, today announced the launch of its token exchange and pool management dapps.
Though Balancer can be compared to several existing products, its entry into the DeFi marketplace is nonetheless notable because it turns several traditional portfolio management concepts on their head.
At its most basic, the Balancer exchange enables swapping between ERC-20 tokens in an experience similar to Uniswap. The complementary pool management i...
In an interview with Decrypt, Dexwallet CEO and PieDAO coordinator Alessio Delmonti explained how PieDAO distinguishes itself from other asset pools on Balancer, a non-custodial portfolio manager and liquidity provider that launched its pool manager and token exchange dapps just weeks ago.
“PieDAO adds value by acting as a social layer to manage the pool,” Delmonti said. “[DOUGH holders] can monitor for funky stuff happening and for example stop trading as soon as they understand one asset might be at risk of failing, implementing a sort of circuit breaker mechanism similar to Maker’s emergency shutdown.”
The first index—referred to among the PieDAO community as Pies— is BTC++, comprised of several Bitcoin-backed derivative tokens on the Ethereum blockchain. The BTC++ Pie contains equal weights of Wrapped Bitcoin (WBTC), synthetic Bitcoin (sBTC), pTokenised Bitcoin (pBTC), and Tokenlon’s imBTC that each represent a unique approach to collateralizing Bitcoin derivative tokens.
Pies can be held as their own derivative token to gain weighted exposure to the underlying assets. Pies are also a source of liquidity for traders to swap between assets, providing free automatic rebalancing via the Balancer protocol.
“Pies accrue fees in the underlying assets which get collected in a DAO treasury that DOUGH holders can redeem via the Redemption app,” Delmonti said. “Additionally, once the pools are big enough, governance could implement a fee sharing with the DAO for the services it provides.”
A number of additional Pies have already been proposed, including USD++, which bundles stablecoins such as MakerDao’s DAI, Circle’s USD Coin (USDC), and Tether (USDT). Another is DeFi++, which bundles tokens like Maker (MKR), Compound (COMP), and Augur (REP).
When we started Aragon in November 2016, I dreamt of the day I'd invest in an Aragon DAO.
Well, that day has just arrived! It's @PieDAO_DeFi. We live in the future 🚀
PieDAO has already sold out the first round of DOUGH token distributions, and nearly 14 BTC++ worth nearly $100,000 have been minted since Friday. Prominent members of the blockchain community are taking notice as well. Aragon Project co-founder Luis Cuende tweeted on Friday that PieDAO represents his first investment into an Aragon DAO since launching in 2016.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
Bitcoin ETFs have seen their best day of trading since the start of May, with smaller funds enjoying healthy inflows.
Fidelity's Wise Origin Bitcoin Fund (FBTC), the second-largest spot ETF in the U.S., saw its net assets rise by $188 million in just 24 hours, per data from SoSoValue.
Meanwhile, the ARK 21Shares Bitcoin ETF (ARKB)—in fourth place after the Grayscale Bitcoin Trust—clocked inflows of $155 million, with the two funds between them accounting for more than half of the funds invested...
A divisive proposal to rebrand Bitcoin’s base unit is gaining momentum on social media after Twitter (now X) founder and longtime Bitcoin bull Jack Dorsey shared support on Sunday, racking up more than 1 million views collectively on posts promoting BIP 177.
Authored by software developer John Carvalho, the Bitcoin Improvement Proposal, entitled “Redefine Bitcoin's Base Unit,” seeks to do just that—by shifting the way the coin’s quantities are displayed, removing the decimal point and leading z...
Ethereum investment products generated $205 million worth of inflows last week following the asset’s climb toward $2,700—far more than the $1.5 million a week prior—according to a report from crypto asset manager CoinShares on Monday.
Overall, investors stuffed $785 million into digital asset investment products, including spot exchange-traded funds, lifting year-to-date inflows to more than $7.4 billion, their highest point of 2025.
“Ethereum was the standout performer,” CoinShares Head of Res...