[PIP-29] PICKLE incentives for COVER reward mining

Intro & Background

Please see the forum post for the background and the community discussion here

Proposal

To provide a one time Pickle fund towards Cover reward mining to incentivized coverage for Pickle Protocol.

With the recent DeFi hacks, it will provide an opportunity for Pickle users to procure coverage and help boost Pickle's marketability. Depending on the demand for coverage, we will progressively add/remove based on demand.

Some math and options that we are voting on (one-time fund) for 01 March 2021 to 31 March 2021 coverage: a) $25,000 for an approximation of $1,500,000 coverage b) $50,000 for an approximation of $3,000,000 coverage

At the time of writing, Pickle has $730k worth of PICKLEs in the Smart Treasury, and up to 7% is proposed to be allocated for the coverage.

Additional Info

Cover reward mining program

Cover user guide