The name of the project comes from the Brazilian Portuguese word, piaba [ˈpjabɐ], which means "little fish",[1] referring specifically to the cardinal tetra (Paracheirodon axelrodi).

[4] In fact, several species, including cardinal tetras, show the adaptive trait of iridescence which may provide lower visibility in a blackwater environment.

[8] In 1991, Ning Labbish Chao and Gregory Prang founded Project Piaba in order to support the local fisheries and in concert with them, help protect the habitat of collected fishes.

[10] Project Piaba assesses the sustainability of the species farmed in the Rio Negro area by using the "F value" which estimates the portion of the catch from the total biomass.

[11] The center of the Rio Negro aquarium trade, Barcelos, now celebrates ornamental fish in a festival held every January in conjunction with the annual research expedition of Project Piaba.

[17] When no incentive exists to fish, individuals in the Rio Negro area turn to less environmentally friendly means of support, such as logging or cattle ranching.

[18] In fact, Project Piaba aims to actively discourage domestic farming of fish that are also sustainable resources, like the cardinal tetra, because it takes the financial incentive away from protecting the rain forest of the Rio Negro area.