PIDAO AMA Recap

BSCDaily hosts PIDAO: #Protocol #PIDAO #BSCDaily #BSC

BSC_Daily Admin: Hello and welcome, how are you today?

PiDAOFinanceAdmin: Hi BSCdaily community! I’m doing good thank you.

BSC_Daily Admin: Happy to hear! Ready to start our AMA?

PiDAOFinanceAdmin: Sure!

Q1: Let’s start off with an introduction of your team. What is PIDAO all about?

PiDAOFinanceAdmin: Yes, PIDAO is a decentralized reserve currency protocol that uses the $PID token as its foundation. Each $PID token is backed by a basket of assets (for example, BUSD, USDT, USDC) in the PIDAO treasury, giving it an intrinsic value that cannot be depreciated.

PIDAO also introduces novel economic and game-theoretic dynamics into the market via staking and bonding, thereby providing the community with a truly decentralized reserve currency protocol.

Simultaneously, PIDAO is a DeFi 2.0 project based on POL (Protocol Owned Liquidity) and PVC (Protocol Controlled Value) to ensure price stability and security of holders, as well as a fairly stable system environment.

Q2: Can you tell us a bit about the team and their experience with crypto projects?

PiDAOFinanceAdmin: The team is made up of people from all walks of life who are required for this project. We currently have a few developers and are onboarding two new ones.

We also have a designer who works to make our graphics as sleek as possible and to provide graphics for the marketing team’s marketing activities.

I’m a member of the marketing team, and we coordinate collaboration, update social media and manage the community. We also have a group of community managers who manage our communities on Telegram and Discord.

Q3: PIDAO has been launched for about 2 Days. What achievements have you got?

PiDAOFinanceAdmin: In the first 24 hours, trading volume of $PID has reached 24 Million on pancakeswap, which placed us the No.10th.

In the first 2 days, we completed the deployment of multi-signature contracts to improve the security of assets in the DAO treasury and practiced the concept of decentralized governance. And we attended several AMA on media to get more attention.

We reached cooperation with Hotbit and got listed on their exchange. and we reached cooperation with Hyperpay Wallet, Demeter (they just crossed from HECO, with their stable coin) and RAMP (with stablecoin RUSD). And we are communicating with more projects, hopefully we will reach more cooperation in the near future.

Q4: Could you introduce us ecosystem of PIDAO & the uniqueness of PIDAO?

PiDAOFinanceAdmin: Yes, besides the staking and bonding function we now have, we also planned a PI ecosystem.

3-3 π Staking reward pool

3-3 π is the staking reward pool in the PIDAO ecosystem, similar to the Syrup Pool of PancakeSwap. By staking your sPID with PIDAO, you will receive token rewards from the partners.

High composability and scalability

Stakers are able to transfer the staking credential sPID, which will be widely used in lending and borrowing and other application scenarios to continuously enrich the PIDAO ecosystem in the future.

PINFT

PINFT is an important part of the PIDAO ecosystem. Holders can obtain PINFT Collections by staking sPID. In the near future, PINFT will be widely used in PIDAO’s protocol governance and community activities, becoming a status symbol of PINFT holders in the PIDAO ecosystem.

Range Exchange

Range is a stablecoin exchange function for the PIDAO Finance decentralized reserve assets protocol. Range is based on a swap pool providing the exchange of multiple stablecoin assets at 1:1 ratio. It’s designed to achieve stable exchange rates and lower trading wear to reduce gas fees and increase the efficiency of capital utilization with more accurate risk assessment.

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PIDAO Pro

PIDAO Pro has opened the liquidity solution to third parties for reference with LaaS (Liquidity as a Service) to promote more revenue and continuous liquidity enabling.

Q5: How could users participate in PIDAO? So what would the Governance of PIDAO be like?

PiDAOFinanceAdmin: There are two main strategies for market participants: staking and bonding, which refer to staking PID and purchasing PID bonds respectively.

A. Staking is the primary value accrual strategy of PIDAO allowing stakers to stake their PID in return for more PID token.

Stakers stake their PID on the PIDAO website to earn rebase rewards.The rebase rewards come from the proceeds of bond sales, and can vary based on the number of PID staked in the protocol and the reward rate set by monetary policy.

Staking is a passive, long-term strategy. The increase in your stake of PID translates into a constantly falling cost basis converging on zero. This means even if the market price of PID drops below your initial purchase price, given a long enough staking period, the increase in your staked PID balance should eventually outpace the fall in price.

B. Bonding is the secondary value accrual strategy of PIDAO allowing bonders to purchase discounted PID token under certain rules.

Bonders provide LP or BUSD tokens in exchange for discounted PID tokens after a fixed vesting period. It allows PIDAO to acquire its own liquidity and other reserve assets by selling PID at a discount in exchange for these assets.

Bonding is an active, short-term strategy. The price discovery mechanism of the secondary bond market renders bond discounts more or less unpredictable.

Therefore bonding is considered a more active investment strategy that has to be monitored constantly in order to be more profitable as compared to staking.

And talking about the governance of PIDAO.

A, Values

PIDAO is building a global, community-owned and decentralized economy so we can introduce stability and transparency back into financial markets and create financial inclusion for all. PIDAO exists to support projects that bring value to the PID economy. The DAO is driven by the following values:

1, Community-run

2, Results-oriented

3, Sustainable

4, Inclusive

B, DAO

While we believe decentralized structures are best suited for achieving this vision, we realize that some structure is needed to align on common goals, evaluate projects, create accountability and ensure successful execution. If our values align with yours, reach out to us on our Telegram group, we look forward to your contribution.

Q6: Why is POL (Protocol owned liquidity) important? What is PCV (Protocol Controlled Value)? Why is PCV important?

PiDAOFinanceAdmin: Bonding allows PIDAO to accumulate its own liquidity. We call our own liquidity POL(Protocol Owned Liquidity), is the amount of LP the treasury owns and controls.

POL is completely different from the early yield farming model. The long-term benefits of liquidity providers align with the protocol in the liquidity holding. The short-term incentive model of renting liquidity will cause over-explore, even shorten the life cycle of the project.

The POL mechanism changes the benefit-based relationship between the protocol and the liquidity providers, ultimately reconstructing the liquidity service model.

1. More sufficient funds and massive community

The bonding mechanism enables liquidity accumulation of PID with POL, which will further facilitate the market operation and the continuous expansion of the ecosystem and community to gain more support.

2. Benefit PID holders

The POL mechanism ensures long-term locked liquidity, avoiding sudden occurrence of a rugpull. Moreover, sufficient liquidity guarantees the market that the liquidity is always there to facilitate sell or buy transactions, cutting down costs such as slippage and protecting the asset security of PID holders.

3. Earn more income

PIDAO owns most of its liquidity. In addition to ensure certainty for PID holders and other participants, it earns most of the LP fees, which can provide an incentive source and help to build better finance. And about PCV

Protocol Controlled Value, is the amount of funds the treasury owns and controls. As the protocol controls the funds in its treasury, PID can only be minted or burned by the protocol.

On one hand, PCV ensures that participants invest funds into the protocol contract instead of the project team, which avoids potential risks. On the other hand, PCV guarantees that the protocol can always back 1 PID with 1 BUSD.

You can easily define the risk of your investment because you can be confident that the protocol will indefinitely buy PID below 1 BUSD with the treasury assets until no one is left to sell.

As the protocol accumulates more PCV, more runway is guaranteed for the stakers. This means the stakers can be confident that the current staking APY can be sustained for a longer-term because more funds are available in the treasury.

Q7: How to benefit from staking PID?

PiDAOFinanceAdmin: Swaps between PID and sPID during stake and unstake are always honored 1:1. However, the amount of sPID will change with variables in the protocol.

There will be periodically rebases based on key indicators, and the sPID balance will automatically increase after each rebase. When unstake, your sPID will be burnt and get the same amount of PID.

For example:

Aurora bought 100 PID at 1 USD and staked to get 100 sPID. After 100 days staking along with rebases during this period, the amount of sPID accumulated to 600 sPID. If Aurora unstaked when the price of PID hiked to 100 USD, she would send the 600 sPIDs burnt and obtain 600 PID.

The yield for Aurora would be:

600 PID * 100 USD-1 USD * 100 PID = 59900 USD.

We can see in the above case that the staker can get both inflation rewards and gains from price increase.

Please note that unstaking means losing the opportunity to obtain rebase rewards. Only if stakers continue to hold sPID can they receive sPID rewards for the subsequent rebases.

Q8: Where can we find out more about PIDAO on social media?

PiDAOFinanceAdmin:

Get involved right now: https://www.pidao.finance/

Access to latest news on Medium: https://PIDAOFinance.medium.com/

Join the community with Telegram: https://t.me/PIDAOFinance

Join the community with Discord: https://discord.com/invite/hPRwxePEYV

BSC_Daily Admin: With this, we are now at the end of our AMA session with PIDAO.

Time for wrapping up, any last words you would like to say to our community?

PiDAOFinanceAdmin: To know PIDAO better, please join our community and follow our social media.