[PIP-38] To migrate PICKLE:ETH UNI LP to Masterchef V2 in Sushiswap

Abstract

This proposal, if passed, would migrate the PICKLE emission from PICKLE:ETH UNI LP to PICKLE:ETH SLP within Masterchef v2 in Sushiswap.

This move will strengthen our partnership with Sushiswap team and provide the opportunity for PICKLE:ETH SLP providers to earn double rewards in the form of PICKLE + SUSHI. This move also offers the current PICKLE:ETH UNI LP to move away from Uniswap v2 and into Sushiswap, while new strategy is being developed for Uniswap v3.

Double Rewards & Total Value Locked (TVL)

With the Masterchef v2, PICKLE:ETH SLP will receive double rewards in the form of PICKLE and SUSHI emissions. Sushiswap team has kindly agreed to allocate 25 allocPoint for the LP and PICKLE will continue to incentivize the LP with 150 allocPoint.

Some math for the PICKLE:ETH SLP rewards: SUSHI reward = 0.02026178222636463103294565790007 SUSHI per block PICKLE reward = 0.01125 PICKLE per block

The estimated APR per PICKLE:ETH pool size is below:

LP	Pool Size	APR
PICKLE:ETH	$1,000,000	87.99%
PICKLE:ETH	$2,500,000	35.20%
PICKLE:ETH	$5,000,000	17.60%

*Rewards = [allocPoint / totalAllocPoint * sushiPerBlock] + [allocPoint / totalAllocPoint * picklePerBlock]