What percentage of CRV is Pickle currently holding?
None so far, but we are prepared to lock up up to 70% of the CRV earned going forward if whitelisted. We are also discussing a market buy of $100,000 worth of CRV to get an accelerated boost once whitelisted.
Where is the 70% figure coming from? How would you use your CRV? How would you convince your DAO to take a smaller APY?
Assuming you obtain a large amount of voting power, how would you decide what to vote for? Do you have a group of users that can decide how to vote on Curve proposals without approval of the Pickle community? Or would every Curve vote need to be a Pickle signal as well?
Here’s what I think will result in the community leaning in favour of whitelisting:
- Commitment to vote (how the protocol decides how to vote isn’t relevant to us but participation is essential)
- Demonstrating sufficient interest in Curve (voting is certainly one aspect but it’s important for the community to know a protocol which will likely hold a large amount of voting power is not gonna work against the protocol’s best interests). Holding x amount CRV and using it for x is also good (as @BigBrainBriner has suggested Pickle would do by holding/locking 70% of CRV rewards)
- Audits, having been around for a reasonable amount of time (which Pickle satisfies)
As a reminder, the Curve team does not hold enough voting power to reach quorum on our own so those proposals are really about convincing the community it’s worth doing
You’ve got my votes; I think the robo advisor “Sell pressure” is generally a red herring.
pickle white listing will have my vote as well.
Has my vote! great benefit for both parties
We vote for this as well.
I concur as well. This should definitely be approved as it’s a win/win for both projects.
If both parties win then I support this all the way.
Sounds like a mutually beneficial strategy, we are all for this!
Follower of the 2 platforms, I see only mutual benefits! I am for
Here to show my support for this proposal!
More collaboration in this space between major reputable players is only good for everyone, including the projects involved. I get that Curve doesn’t want to list any old sham yield farm to the whitelist, but I think Pickle has proven over a solid period of time that it is solid and can be trusted.
I would also vote for this proposal. PickleFinance has a great community of which I think many of its members are also part of Curve community so they would be heavily involved in both projects. I think a whitelist will be beneficial for both projects.
For what duration would the 70% be locked up for or rather what is the strategy for lockup you envision? The longer
The previous 70% figure was calculated as a theoretical maximum based upon future fee-sharing veCRV and a much lower initial buy-and-lock value. That figure is now out-dated.
After some discussion, our current proposal, if whitelisted is:
- buying and vote-locking approximately 550,000 CRV
- diverting 25% of CRV rewards to be locked with the end goal of obtaining the maximum 2.5x boost within 20 weeks
Note that this still needs to be voted on by the Pickle community. But this is the direction we are proposing at this point in time.
This sounds reasonable. I plan to vote in favor on both Curve and Pickle.