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PICKLEPICKLEby0x821880a3E2bac432d67E5155e72BB655Ef65fa5E0x8218…fa5E

[PIP-17] Re-allocate PICKLE rewards

Voting ended about 5 years agoSucceeded

PIP Discussion

Following this RFC, this proposal seeks to re-allocate PICKLE rewards by:

  1. Decreasing the proportion of PICKLE/ETH LP rewards by 5% (from 70% -> 65%)
  2. Increasing the proportion of prenBTCCRV rewards by 3% (from 5% -> 8%)
  3. Increasing the proportion of pDAI rewards by 2% (from 4% -> 6%)

This proposal aims to address the following concerns:

  • we may be over-emphasizing the need for deep liquidity at the expense of potential profit generation;
  • we have an opportunity to significantly increase TVL by attracting latent BTC capital; and
  • we have an opportunity to increase protocol profits by attracting deposits to a high-earning PickleJar.

On the other hand, certain concerns have been raised against the proposed approach:

  • some PICKLE/ETH LPs may not want to give up 5% more of emissions; and
  • we are paying for BTC TVL using PICKLE emissions. BTC Jars are less effective for profit generation while the benefits of pure TVL are more intangible.

Off-Chain Vote

Re-allocate PICKLE rewards per proposal
436.66 56.9%
Do nothing
330.35 43.1%
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Timeline

Nov 09, 2020Proposal created
Nov 09, 2020Proposal vote started
Nov 10, 2020Proposal vote ended
Oct 26, 2023Proposal updated