Anastasiya Belyaeva discusses PieDAO's DeFi products

0:01i'm ashton addison from block west capital for investmentpitch media in the Crypto Coin Show and today on blockchain interviews we have anastasia bel ave head of growth at pai dao and co-founder at fabric ventures anastasia welcome to the show and thank you so much for taking the time thank you so much for having me ashley great to be here excited you're very

0:21welcome i'm excited to dive into pai dao really cool d5 platform that i think a lot of people need to know about and not enough people know about it yet because you're doing some really interesting initiatives in d5 that i think are going to become the status quo moving forward and i would love for you to kick us off by telling us a little bit about pai dao

0:43what the project is about how it came about and what are the main solutions you're driving in the d5 space yeah definitely and i definitely agree with you i'd love to see it become more mainstream in the future more people to get to know about it so you know regarding the mission of paedo if you think of it traditional wealth creation mechanisms have always excluded

1:04the 99 from participation they've always been reserved for the one percent and i think crypto has promised to do better and it actually did improve a bunch of things we're seeing participation expand massively we're seeing that way more people than before are now able to create wealth from scratch rather than having to necessarily inherit it from from

1:24parents or that sort of things but it's still extremely exclusive as we know and it still leaves a bunch of people behind you still have to have prerequisites of time of the technical expertise and money to play with and so what paid out is really trying to do is effectively create a hedge fund for the people where the best performing asset

1:45that we have in our age is bundled into simple portfolios something that's very easy to understand and that gives people a way to benefit from these investments without having to dive super deeply into all of the complex defined things like lending staking yield farming all of that stuff that's pretty complex and does require a lot of knowledge we're trying

2:06to simplify that package into portfolios and let people buy that so that's in a nutshell definitely yeah great intro and you're right there are a lot of functionalities that aren't easy you know they aren't intuitive for somebody who isn't technical savvy or an expert in finance and computer code and all these different new functionalities that are amazing but a

2:30little bit of barrier to entry for the even those versed in traditional finance trying to figure out this new paradigm maybe you can talk about those functionalities in the paidow the dao itself and how that's a decentralized autonomous organization how it really distributes that wealth more fairly and allows those barriers to be lowered for people that are new to d5

2:52to join in yeah so that's a really great question i'm actually a huge fan of trying to create new tools for wealth creation in new ways i don't think you can do them as companies i don't think you can really revolutionize the way that wealth is created by using the old structures and so i think when you're trying to create these defy mechanisms you really need to

3:13use the novel system systems for them which is dao's and so the way paida is structured is instead of having a handful of analysts sitting in their offices and trying to decide which assets to include what kind of strategies to deploy you have thousands of people distributed all over the world some of them are completely anonymous actually and i think that gives you

3:34such a such a depth of reach and so many different backgrounds you know somebody doesn't have to have a and cambridge or oxford or you know one of the top us universities degrees to be able to get into whatever is the best hedge fund out there no they can be an anonymous person who's maybe in their daytime a teacher or you know whatever they do but they just happen to

3:59be super deep into into crypto into the internet native asset and they know and then they know what's happening and they can easily get involved so i love that and you know within that ecosystem of people they're obviously somehow or more active and so we've tried to come up with a way to incentivize active participation by actually creating very

4:19recently it's just launched this new system of staking the native governance token where by staking it you get the what's called veto our state version of the governance token and that requires you to be an active participant so think about it this way you know your typical journey would be you want to participate in paidown and govern the

4:41creation of assets you buy dough on the market you stake it for whichever time log period you prefer can be anything from six months to three years and then by staking it gives you the right to participate in governance decisions you're only you have the right to do so if you have that veto token and by doing that you're actually earning money

5:02right so we're actually enumerating the efforts that people put in by distributing on a monthly basis something that is pretty much a paycheck it comes in the form of what we call slice and that slice contains a bunch of farmed assets crv bal et cetera sushi so they're all liquid they're all assets that you can trade in and have your monthly income if you will from

5:24that so it's kind of like a like a salary really so you're becoming for the first time ever what we call a full-time token holder and you can basically quit your daytime job and start governing it dow and just earning that money that you'll be you know earning from working whatever eight ten hours a day by doing voting on a couple of issues per month

5:46and having the same paycheck coming into your into your wallet so i think that's pretty cool and what it does for pydow is it incentivizes active participation because if you if you don't participate in at least one vote per month then you lose that reward so you lose that paycheck and it's it's been the first month that it's

6:07working it's been a huge success so far so looking forward to see how it's gonna play out in the next few months definitely yeah that's really exciting that the v dao has launched and it does sound like a dream to just be able to quit your day job and make voting in the pai dao as your new salary so right all new d5 users are are foaming at the mouth thinking about pi

6:33In and so that's that's really cool i want to talk a little bit more about that because you know there's a lot of people that are new to d5 they don't have a lot of capital they see there's this new paradigm shift where now they can get involved in investing and making decisions and voting on where capital should be allocated to you don't have to be a high net worth

6:55individual or an oxford graduate as you mentioned but this is a very new concept and it's pretty innovative and i'm curious and as this has just launched as well in the first month what do you see as the benefits and the costs of having a dow and having more people and do you think that's going to be more efficient and better than the traditional ways of allocating capital

7:22yeah that's a really good question too so just to clarify one thing so pydow itself has been operating as a dao for a year and a half already so it's been it's been a while it's just the new kind of upgraded governing system with the staked version is a month old indeed but i would say you know obviously operating as a dao comes with its own pitfalls

7:43right you have these thousands of people that you need to coordinate and that's not easy and that's really the biggest challenge it's it's kind of how do you make sure that you take the best out of this large community of talented people rather than just wasting it right i think that's the biggest problem that most dolls face how do you encourage participation and how do you

8:02make sure that whatever ideas float around actually get taken over to execution and we've been trying to come up with ways to do that so the stake version of dough is one way because you obviously encourage participation by giving out that paycheck and making it dependent on active voting and the other ways are so just recently we've started trialing out this

8:24uma kpi options i don't know if you're familiar with it's it's this very cool way to incentivize a community towards a specifically defined kpi let's say you know x amount of tvl or you know it can be whatever x amount of users in the platform you can define it as anything that an oracle can can fetch the data for and then you can incentivize the collective action

8:47towards that and reward them if that milestone is reached so that's super interesting and we're now trialing that out we've distributed well actually we're just about to distribute the kpi tokens to a large number of holders and then we'll see what happens ideally that large community is going to create subgroups working kind of like working collectives and

9:12run their individual coordinated activities such as marketing campaigns growth experiments all of that sort of stuff to drive forward there the number at hand so we'll see we'll see how that goes but that's definitely one of the ways and then the last thing i'd love to mention here is just trying to come up with processes like you typically have in

9:34companies for getting stuff done so you know having a clear way that the community can propose an idea form a group execute it get resources all of that sort of stuff needs to be very clearly defined for people to be able to take action so we're learning from mistakes every day and trying to make it as simple as possible definitely and i know you mentioned there that the dao

9:55part has actually been live for over a year but compared to traditional companies and internet companies it's still in its infancy and i feel like there's a lot definitely needs to be developed out to you know what i would love to hear what you think dao's will look like you know five years from now to 10 years from now in terms of the communication

10:17and the functionality that they'll have as the future of internet organizations yeah that's that's definitely a very wide topic i would say i mean i really believe that dao's will take over what companies do today i think the world that we're trying to build that is internet native has to be run by dows rather than centralized companies and i would love to see that happen more and

10:41obviously dows need to transform themselves come up with more ways that these communities can really organize themselves right now we obviously have some of the tools out there like aragon for example that allows for a bunch of these things to happen but i'm sure we'll need more and more like we're now experiencing with paid out so we're trying to introduce

11:00these things like like api options you know like for example you know in typical companies you usually have these okr meetings and people try to allocate what everyone is focusing on and targeting specific numerical goals each quarter and so i think similar things will need to be introduced in daos so that large community can go towards a common goal and that needs to be

11:23done on a token economic way that is measurable that is rewardable and so i think more and more stuff will happen there and then obviously i would love to see more improvements on the i guess on the legal side and trying to make sure that daos can actually operate as entities that don't need any legal standing and we're seeing of course like doubt

11:46being recognized as as such in some jurisdictions but i think you know more of that will be important to see in the future definitely i completely agree and i feel like that's sort of the same boat for you know bitcoin back in the day when it first came out and then it all of a sudden it starts building on the traction and then it eventually becomes

12:05the norm adopted by countries and then it becomes the standard and we'll see that for dows as well as companies you know is it a traditional company or is it a dao and they i feel like and i hope that they'll be you know equivalent exactly yep yeah and you talked a little bit at the beginning about the v dao the dough staking platform which is great in the

12:28new addition but i know that pydow has so many other functionalities like there's so many different things you can do as a d5 user and i would love if you could touch on some of the other finance functions that new users can use on top of staking the vdo yeah some of the cool products that we have launched that are more suited for the novice users because what i've described before is

12:51more i guess for the veterans of crypto people who really know the strategies very well they can govern a dao they can help curate where its future is going so that's one side and then on the other side we have products that are oriented to more new crypto users those who are aware of what's going on they know how to use the wallet they know how to trade but

13:11they're just not that deep to know what exactly to invest in they may not have a ton of capital so for those kinds of users we have things like for example the oven which is an infrastructure we've created to allow users to effectively pull resources together and mint their new pies pies are the portfolios as we call them together and then share the cost of the

13:33transaction as obviously gas can be pretty expensive these days and so that tends to save them about 97 of the cost today so it's pretty easy to get your hands on one of the portfolios by by using the oven so that's one thing and in general you know we have currently eight products i believe live out there so eight portfolios they range

13:57from the very diversified very kind of risk adverse bcp which involves btc eth and a balanced portfolio of d5 tokens so you have something like that and on the other end of the spectrum you can have something more niche like play for example which has been user's favorite for a while it's a portfolio of it's a portfolio of metaverse tokens so it includes gaming

14:24nft everything without that ecosystem so yeah i would encourage your listeners to go check it out definitely thank you anastasia and i know you know the dough just came out that's a huge project and it's only going to continue to grow i'm curious if that's the focus moving forward towards the end of this year and into 2022 or are there other things up your sleeve that you may

14:49be able to mention as well yeah so we'll definitely be rolling out more more pies as we go there's a couple in progress we're exploring more and more solutions to make things cheaper and so exploring layer 2 solutions and things like that we have a couple pies in mind that are focused on governance overall and so dow

15:15platforms kind of combining in one in one portfolio everything that's related to the thousand governance there's a bunch of things like that in discussions right now but we're also looking a lot onto improving what we've just launched with bido just because it's obviously not a i think that you know release and forget about it there's a bunch of things to be

15:35done and so we're trying to make sure that the revenues that the dao is generating are more and more interesting for the users just because part of what the video holders are receiving is their monthly paycheck is actually the revenues that the entire dao is making including the what it farms with the treasury so we have part of the treasury deployed in yield farming so

15:59we're working very heavily on improving the performance of the treasury farming committee that is choosing the strategies and we're trying to make sure that performance continues to be above targets each month which so far has been happening so it's pretty great and that obviously you know improving that make sure that you can attract more

16:20talented individuals to govern the dao and push it forward and so that's kind of the entire loop that creates we're also trying to create more encourage more kind of like self-driving working groups and so we're trying to come up with ways to incentivize that and create this kind of community initiatives that are run by individual members so we're

16:43spending more time on giving them the resources to do so in improving the processes so these are some of the things i guess very meta things that we're trying to improve that i think will make a big difference in the long term for the dao very cool i'm excited to follow along with those updates as they come out and for the viewers as well that are looking

17:04to follow along and just to use some of the eight products that your team has out right now what's the best way for users to learn more to start using pydow and to get involved in the communities as well yeah i mean the best way would be to go to paidow.org everything is right in there so you guys can check out the products as i mentioned the price you can see

17:25what's happening now with vido you can actually test out how much you can make per per month by by voting within the python system so there's a simulator that you can use to kind of model that out and then also within there's a link to our discord and all the best discussions happen in there so i would definitely encourage your community to join in

17:47and start contributing great thank you anastasia i will leave all those links in the description box below as well all the best with pydow moving forward and let's follow up in the near future amazing thank you so much aston really enjoyed it