PieDAO Roadmap 2021
These release details are proposals only and are subject to change via community consensus.
2020 was a huge start for PieDAO. Since the beginning of March, the project has been building in the open embracing the community-led approach to protocol development.
To recap, here’s an incomplete list of some of the bigger items that were delivered since the start of PieDAO in March 2020:
- Over $10M in TVL and $20M in volume within pies.
- The first DeFi index with intrinsic productivity of assets (PieVaults)
- Community-led Indices.
- Governance across all the representation of DOUGH.
- The first phase of tools designed for inclusivity, Ovens.
- Numerous dApp upgrades
We’re pleased with what we achieved and the strong community we built along the way, but it will mean very little unless we continue to grow in 2021.
This post will outline a) the currently proposed roadmap for Q1 of 2021 and b) my very own personal perspective on what is likely to happen during the remaining quarters having talked with many community members and summarized that into a narrative reflecting what the community wants to achieve this year.
As part of the process for determining the most urgent priorities, @anastasiyabelyaeva ran a user research regarding how members felt about the product, what they loved the most, what could be improved, and their sentiment towards specific strategies. (see User Research Results)
We’ve used that feedback to shape this plan.
The Oven was one of the most loved initiatives from the DAO, I believe because it reflects the core values of inclusivity and economic empowerment where nobody is left behind. The upgrade to Oven V2 will alleviate many of the issues experienced by users on the first version.
The primary advantages to this release are:
- Unlimited receivers per baking session
- Lower gas costs and higher throughput
- Generalized design enabling more possibilities
- Multiple inputs as well as ETH
This upgrade will enable splitting of fees between bakers, making the Oven infrastructure sustainable over time and creating additional cash flow opportunities for DOUGH holders.
Protocol migrator: Long live PieVaults!
PieVaults represents a complete re-architecture of the PieDAO’s Pie contracts and provide an opportunity to expand the functionalities and pioneer new features such as intrinsic productivity of assets. PieVaults represent a more robust design of creating indices that shield users from potential threats in AMMs and unlock potential for meta-governance and yield generating strategies that were not possible before them.
They are a better source of collateral (see: PieDAO secondary markets on AAVE) and an easier-to-combine piece to be used in the composable world of DeFi, for instance, to create leveraged PieVaults.
The tooling for migrating PieSmartPools to PieVaults has been finalized and tested in mainnet during the last few days. It enables Pies to upgrade to the new architecture without requiring token holders to perform any action, bringing significant UX benefits to holders.
Additional features will be released for PieVaults during the Meringue Release, the major changes being support for Yearn V2 vaults, and the addition of a hooks system that allows for easily pluggable modification behavior when interacting with the Pie.
Adding support for Yearn strategies allows PieDAO to leverage the broad library of existing strategies in our multi-asset system such as pies. It also enables the broader community of developers to use an industry-standard approach to the development of yield strategies for indices.
The Meringue Release includes a Universal Router which creates a single point of access to the PieDAO ecosystem, in enabled users to interact with the different pieces of the PieDAO ecosystem from a single place.
The PieDAO website will progressively morph into an all-in-one application serving the needs of Pie holders and facilitating the onboarding of new users with strong employment of learning material. A non-inclusive list of enhancement contains:
- Revisited flow and navigation system
- Additional PIE Informations on underlying
- Personal Dashboard aka Piefolio
- Integrated exchange
- Learn Section
- Risk Score System for Pies
- Expose governance proposals of underlyings tokens.
To make that possible, a subgraph will be deployed to deliver significant improvement on the performance of the website.
The rest of 2021
This is very much my personal perspective on what PieDAO in 2021 might look like and what I think it’s likely to happen, it should be read as such.
DOUGH Staking and fees splitting: A much-requested feature that is gaining momentum across the community. I expect the initiative to get to a ready stage by the end of the year. (See [RFC] Incentivizing DOUGH Holding, Staking & Revenues)
Pies with perpetual swaps and traditional exposure: Synthetic assets made huge steps ahead in 2020 with multiple designs for perpetual swaps being used in production for a couple of months. I expect to see Pies with exposure to traditional assets at some point in 2021.
Research on Leveraged Pies: As lending protocols start listing pies as a source of collateral, I’d expect to see research happening for leverages pies. Just imagine a 3xBULLBCP coin.
Research on L2: As technologies such as Optimistic rollups and ZK-Snarks become more widely used, I expect the community to research and potentially transition to a layer two scaling solution (or multiples?) in order to alleviate the pain of gas cost we all endured in 2020.