DeFiPie ($PIE) – The SuperApp of DeFi?

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DeFiPie ($PIE) aims to launch the first decentralised finance (DeFi) SuperApp that integrates data and information from all the disconnected DeFi services and protocols. Built on Polkadot, the app focuses to improvise user experience (UX) and interconnectivity of the DeFi ecosystem.

Background

DeFiPie boasts of a team of highly skilled and experienced professionals. The Core team members include CEO and Co-founder Aleksei Kopievskii, a well-known web developer with over 8 years of experience. He has been actively involved with several tech startups and has functioned as an investor and advisor to many of them.

Kopievskii also brings his years of experience to the DeFiPie ecosystem. Other important members of the team are Co-founder and CTO, Maksim Malikov, and CMO, Alymbek Sariev.

What is DeFiPie?

What is DeFiPie?
What is DeFiPie?

DeFiPie is a marketplace that aims to unify the current DeFi space, which is quite fragmented. It will provide a single gateway to crypto staking, liquidity mining, lending, yield farming, etc.

The platform is concerned with bringing interconnectivity and better UX to the highly disjointed DeFi space. It functions as a super app that provides users with easy access to a wide variety of DeFi services from a single interface. DeFiPie users will enjoy several interesting benefits, amongst which are:

  • Automatic lending on the platform’s P2P loan market.
  • A wide variety of assets like XTZ, ATOM, DOT, and ADA, which are available for staking
  • Effective matching of loans with DeFiPie’s advanced matching algorithm.
  • The ability to create lending, staking, and liquidity pools.

One of the announced blockchains that will join the DeFiPie ecosystem is TomoChain, a scalable proof-of-stake blockchain geared towards enterprises.

DeFiPie Use cases

Lending-as-a-Service (LaaS)

One very important aspect of most DeFi protocols is lending. Many protocols, however, offer automated lending solutions. This means that users have no control over their loan offers. With DeFiPie, both lenders and borrowers have the option to choose between automated, semi-automated, and manual lending options. This provides users the freedom to choose which service is most beneficial to them.

Users deciding to choose an automated DeFiPie lending option will receive loans at an automatically determined interest rate. The drawback to this option is that they might not get the best interest rate available. However, manual lending options furnish a user with total control over the lending process.

This allows them to determine important details like interest rate, loan timeline, loan-to-collateral ratio, amongst several others.

Staking-as-a-Service (SaaS)

Users with large holdings of PIE tokens have the option to create a staking pool on DeFiPie. This is where other interested users can merge their tokens for staking, subsequently, increasing the interest rates of all parties involved.

Stakers on DeFiPie pools also pay one of the lowest fees in the entire DeFi space. And what’s even more exciting is the fact that despite being in a staking pool, users still retain absolute control over their assets. Staking rewards paid in PIE tokens also attract higher rewards compared to those who are paid in other tokens.

Liquidity Pools-as-a-Service (LPaaS)

On DeFiPie, users have the option of investing their crypto in any liquidity pool of their choice. They subsequently earn rewards based on the number of assets they invested. All pool members also receive a share of trading fees. When a user places a certain amount of crypto assets in a liquidity pool, they immediately receive a corresponding amount of PIE tokens.

These tokens will help improve liquidity in the entire ecosystem. Users on the platform can also create their own liquidity pools easily. They will, however, have to determine important details like interest rates, collateral choice, and many more.

Custom lending pools

As earlier stated users with enough PIE tokens can create their decentralized lending pools. Users in this pool decide on the workings of the pool. This is unlike conventional DeFi protocols where mechanics are determined by algorithms. In this case, members decide on details such as PIE holdings required to become an admin or to receive voting rights, utility rates, lending rates, collateral, etc.

Collateralization Options on DeFiPie

Simply put, this means allowing users to earn rewards on their stand-in PIE tokens. Unlike conventional DeFi protocols, users will earn PIE on their assets. PIE earned this way can furthermore be used as loan collateral.

Yield farming

Users receive PIE tokens as incentives for each day that they are active on the system. In addition, actions carried out on the platform are rewarded with PIE. This helps to ensure a balance between supply and demand on the DeFiPie system.

Interested users can also farm PIE by simply locking up assets on DeFiPie.

DeFiPie use cases
DeFiPie Use Cases

DeFiPie ($PIE) token

PIE is the native token of the DeFiPie ecosystem. It is a huge way to earn passive income as users are rewarded with PIE in the DeFiPie ecosystem. The token is required before users can carry out specific tasks on the DeFi platform, including:

  • Creating and participating in a custom lending or liquidity pool, as well as partaking in P2P lending.
  • Creating or accepting manual loan service offers.
  • Users also need PIE tokens to start a staking pool.

PIE token holders will also be eligible to receive annual yield farming rewards of up to 150%.

The total supply of PIE token is 220,000,000, of which 45.45% are for staking rewards, 21.05% were sold during the seed round and private sales, 6.82% are reserved for DefiPie Vault, 6.82% for operations, 11.36% for team and advisors, 2.27% for community and 2.27% for the DeFi fund.

Where is DeFiPie listed?

PIE is currently listed on Uniswap and TomoDex.

DeFiPie roadmap: What’s next?

DeFiPie’s roadmap will be in 3 major categories: Development, Marketing and Operational. The project is expected to be fully completed in Q4 2021 and currently they are on track in terms of the timetable they have set out.

DeFiPie roadmap
DeFiPie roadmap (Image credit: Twitter)

Conclusion

DeFi is already in the limelight despite its myriad of protocols that lack refined UX. Many analysts have pointed out that more substandard DeFi protocols are expected to come in the crypto space. However, DeFiPie is out to change this narrative.

The DeFi platform has designed an app with 360° coverage and connectivity of other protocols, which would help weed out subpar projects in the space.

Decentralised Finance (DeFi) series: tutorials, guides and more

With content for both beginners and more advanced users, check out our YouTube DeFi series containing tutorials on the ESSENTIAL TOOLS you need for trading in the DeFi space e.g. MetaMask and Uniswap. We also take a deep dive into popular DeFi projects such as Yearn.finance ($YFI), Balancer ($BAL) and ($COMP).

The DeFi series on this website also covers topics not explored on YouTube. For an introduction on what is DeFi, check out Decentralized Finance (DeFi) Overview: A guide to the HOTTEST trend in cryptocurrency

Learn about Yearn.finance ($YFI) and all its various hard forks and iterations:

For in-depth information on other specific DeFi projects, check out our DeFi token guides:

Tutorials and guides for the ESSENTIAL DEFI TOOLS:

More videos and articles are coming soon as part of our DeFi series, so be sure to SUBSCRIBE to our Youtube channel and (for now) FREE weekly newsletter so you can be notified as soon as they come out!

The information provided in this article is intended for general guidance and information purposes only. Contents of this article are under no circumstances intended to be considered as investment, business, legal or tax advice. We do not accept any responsibility for individual decisions made based on this article and we strongly encourage you to do your own research before taking any action. Although best efforts are made to ensure that all information provided herein is accurate and up to date, omissions, errors, or mistakes may occur.

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