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.
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?
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
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.
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.
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 ($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?
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.
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:
- Yearn.finance ($YFI) farming with yEarn Pool
- YFII Yield Farming- the controversial $YFI Fork
- YFFI Yield Farming – Another fork of the popular yield farming Dapp
- Andre Cronje, Founder of yEarn.Finance ($YFI) talks DeFi with FTX
For in-depth information on other specific DeFi projects, check out our DeFi token guides:
- 0x ($ZRX) guide: The future of cryptocurrency exchanges?
- AAVE ($LEND)
- Ampleforth ($AMPL) review: The essential guide to this DeFi protocol
- Bella Protocol ($BEL): One-click crypto banking
- Balancer Finance Guide and Review ($BAL)
- ChainLink ($LINK) guide: A key link in the DeFi space
- Compound Finance ($COMP)? A guide to hacks and tips on the latest DeFi platform
- Cream Finance ($CREAM): What is it?
- Curve Finance ($CRV) guide
- DeFi Money Market and DMM Governance ($DMG) guide
- FalconSwap ($FSW) Guide
- Flamingo.Finance ($FLM): What is it?
- Fuse Network ($FUSE): What is it?
- Hedget ($HGET): Does it live up to the hype?
- Kusama ($KSM): How is it Polkadot’s wild cousin?
- Kyber Network ($KNC): On-chain liquidity protocol
- Linear Finance ($LINA): The future of synthetic exchange platforms?
- Mantra DAO ($OM): The DeFi project that’s all about community
- OIN Finance ($OIN): DeFi’s first foray into Ontology
- Orion Protocol ($ORN) explained
- Polkadot ($DOT): Everything you need to know about the DeFi darling of China
- RAMP DeFi: How does it unlock the value of staked assets?
- Radix DLT ($XRD): Taking DeFi to the next level?
- Rio DeFi ($RFUEL): The next frontier of finance?
- Serum ($SRM): First look at FTX’s new DEX for the DeFi wave
- Solana ($SOL) explained
- SushiSwap ($SUSHI) explained
- Swerve Finane ($SWRV): What is it and how are they different?
- Synthetix ($SNX): Everything you need to know about this top DeFi project
- THORChain ($RUNE) information and guide
- Trustswap ($SWAP) explained- Next generation of DeFi transactions
- YF Link ($YFL): Combining the best of ChainLink ($LINK) and Yearn Finance ($YFI)?
- YFV Finance Yield Farming
Tutorials and guides for the ESSENTIAL DEFI TOOLS:
- MetaMask Guide: How to set up an account? PLUS tips and hacks for advanced users
- Uniswap review and tutorial: Beginners guide and advanced tips and tricks
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.