Auto-Compounding Pickle Staking sCRV Rewards

Currently PICKLE staked in the Pickle Staking Pool receive sCRV as a reward. In order to put this sCRV to work it must be first claimed, then staked in pjar0, then again staked in the pUNISCRV V2 farm. This is costly in gas, time, and prohibitive.

I am suggesting a compounding approach where sCRV generated from Pickle staking is automatically harvested and re-invested into the pUNISCRV V2 farm for users. This will save users gas, time, and truly give them the compounding Pickle experience they want.

The benefit to the Pickle team is it will allow for another APY metric that you can display to boost the “total APY” on the farms.

It allows for a true “set and forget” experience for the user.

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Piggybacking off of this post, my next post is the natural next step. Both go hand in hand:

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Yeah, we were also contemplating the whole process - as you say, it seems like a logical progression. I think this sort of feature is very attractive to those with smaller wallets who are more affected by gas fees.

I guess we should be clear what we are asking for:
Is this optional, or does happen automatically without the user even having to know what’s going underneath?
Do you think anyone would not want this?
Any drawbacks?

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It should be opt in.

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Option to set this contract to:

ON (auto-reinvest)
OR
OFF (manually harvest)

Especially if there is a benefit by reducing gas cost, this would be as great add-on feature.

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Okay, so just a bool for reinvest or not - no half measure option.

And default option?
I would assume “off” but does that affect the APY we should display, or is the boost being shown as an addition value anyway?

@Dr.Eggplant I completely agree with proposal, it should be at least provided as an option for the users that are unable to afford the gas costs. It would like you quoted be " A true set and forget" where users can check in may be once or twice a month and not really worry if they are vested long term into Pickle. Great idea. Thanks.

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I agree, and even if our sCRV automatically went into the sCRV pjar for a 7% APY on the gains… that would be a start!

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I don’t know how hard it is to implement, but I don’t see any downside and would be truly awesome!

This seems like a technical challenge that might require to get the staking contract re-audited (or initially audited) as the current one is the SNX rewards contract. I am in favor of it though as it would be nice.

I think there are some feasibility concerns that should be addressed by the team here since one approach I see is a pJar that accepts staked PICKLE tokens to then have control over the sCRV for compounding. I do not think we get a staked token representation so I am not sure how that would work.

I think the above also means that we wouldn’t be able to make a PICKLE pJar to auto compound PICKLE from sCRV rewards. I am not as privy to how all these contracts interact so probably a team member can comment on all this.

Assuming that this would be doable from a smart contract perspective, I’m in favor of this proposal. My current strategy is to pull my pickle staking rewards and put them into the sCRV jar + farm. If that whole process can be automated to save gas, that would be amazing!

Could be implemented similar to how alpha finance does their reinvest and pays a small percentage to the user who calls it? https://homora.alphafinance.io/status

Love this proposal. This works well at Harvest and would work well for us. One problem with Harvest’s implementation, though, is that there are no transactions associated with the reward reception and compounding, and so for tax tracking it’s a little difficult. Don’t know if that’s fixable, but would be awesome if possible.

I know I’ve already posted but we definitely need to improve the pickle staking to remain competitive

Not every user has every farm.
I would suggest taking those rewards and market buying PICKLE, adding them to the PICKLE harvest pro rate the staked PICKLEs.
Simply put, don’t let me withdraw sCRV, but PICKLES from the “Stake” section.

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