The chronicle tells the story of an unexpected visit paid to Piast by two strangers.

In return for the hospitality, the guests cast a spell making Piast's cellar ever full of plenty.

If Piast really existed, he would have been the great-great-grandfather of Prince Mieszko I (c. 930–92), the first historic ruler of Poland, and the great-great-great-grandfather of Bolesław I the Brave (967–1025), the first Polish king.

The legendary Piasts were native of Gniezno, a well-fortified castle town founded between the eighth and ninth century, within the tribal territory of the Polans.

This would parallel the development of the early medieval Frankish dynasties, when the Mayors of the Palace of the Merovingian kings gradually usurped political control.