Automatically Stake Earned Pickles from the Farms

Piggybacking off of my last post (see: Auto-Compounding Pickle Staking sCRV Rewards) , I am suggesting automatically harvesting and staking earned PICKLE from the farms and placing them into the PICKLE staking pool to earn sCRV.

Then the sCRV can be automatically put back into the pUNISCRV V2 pool to complete the loop.

Then this entire process happens block by block. This is the missing piece to the full compounding experience.

This completes the Pickle AND as mentioned in my previous post, gives you higher APY numbers to market (which leads to more TVL).

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  1. We don’t have a pUNISCRV v2 pool and I’m not sure it makes sense to create one.
  2. Not everyone who stakes pickles will want to be in our jars as they come w/ a withdrawal fee etc. They’re great for long-term holds but some users may want to play this differently. It would almost definitely not make sense for someone with just a few hundred $ in the pickle staking pool.

The idea of automatically having PICKLEs go into a staking pool is decent though. I don’t really see much of a downside for this from a platform perspective. I have no idea how easy this would be to implement and I’d be curious to hear others opinions on this.

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OK you meant the psCRV, understood. I hadn’t read your first post.

I could see both of these ideas being options but defaulting to them would negatively affect some users IMO.

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I agree. It should be opt in.

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I totally agree with @Dr.Eggplant - we should introduce at some point a on/off switch to allow auto-harvesting of sCRV.

I assume this auto harvesting will also consume gas right and eat profits, right? If so then we will need to be clear that e.g. we will auto harvest only if the cost of a transaction is less than x % of gained sCRV value.

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Great idea, automation~!!!

Can we have an update on this? I wrote the original post 22 days ago. Jesus…time flies.

@BigBrainBriner @Larry_Cucumber @0xpenguin

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I came here for just this reason. Glad someone was already bringing this up.

Completely agree that auto-compounding should be implemented, as an opt-in option if possible.

What better way to serve the Pickle community than giving users a way to save gas, via auto-compounding pickle rewards through staking?

Sure, if you want to farm pickle to dump for your favorite shat coin, do you, but there should be some option for auto-compounding option for those who wish to farm & stake. Incentive users with gas saving opportunities.

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Unfortunately this is not possible w/o a jar to automate it all. And it would be pretty darn complex, because what you are asking for is a jar with a strategy that does:

  1. supply USDC/ETH UNI LP tokens
  2. take those tokens, supply to the farm
  3. every now and then, take the farmed PICKLEs and deposit into staking contract
  4. every now and then, withdraw WETH rewards from staking contract
  5. sell half of the WETH to USDC
  6. supply USDC and WETH to get more USDC/ETH UNI LP tokens
  7. supply USDC/ETH UNI LP tokens back into the farm (i.e. Step 2)

The marginal benefit you get from this is not likely to be worth it. There are also other concerns beyond complexity:

  1. Engineering time
  2. Low APY
  3. Complexity introducing possible exploit vectors (can’t think of any right now but we need to be vigilant)
  4. Another jar we need to manage (we already have a ton of jars)

I don’t view it as practical at all, but perhaps you guys have ideas to work through this.

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I like this idea on the proviso that that we can find a more elegant way to harvest the pickles rather than individual harvests.

Are we able to automatically send the pickle rewards to staking without the need to individually harvest?

If so this is a good idea and adds value to the project.

I agree that this would need to be opt-in if possible.

Good suggestion.

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BBB, I agree this level of “automatic compounding” is impractical.

I think the consensus we came to in the forums was to just want the PICKLE earned from our farms to be auto-staked to earn WETH. That’s where the loop would end. Perhaps you could do a daily harvest and then stake everyones outstanding PICKLE from the farms so they dont have to claim and can begin earning rewards on it. I think this would be a great feature, super helpful, allow more people to set and forget, and also be great for optics.

Thoughts?

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We can’t do a daily harvest of pending pickles for everyone.

The MasterChef contract was designed to be intentionally rigid to prevent rugging. Your pending pickles are yours and yours alone. We can’t do anything w/ them on behalf of you unfortunately.

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If I understand correctly, only an external contract would allow this kind of reinvestment?

The user should authorize this contract to automate certain requests, with all the risks that this entails.

I wonder if Furucombo https://furucombo.app/combo would not be able to offer this kind of service?
At least, as far as the possibility of bundling all these transactions into one …
(At the same time it could be an interesting partnership)

EDIT : I’m not a dev but, can Andre Cronje’s new toys enable us to automate all of this? (https://andrecronje.medium.com/keep3r-network-openzeppelin-defender-f320cfefd3d4)

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I’d rather have an “auto harvest and dump for ETH” thing.

Remember, some people are in this for the short term gains, and while it’s not the ideal outcome to immediately sell for the community, it does create fees for POWERPICKLE stakers.

I’m not sure a project that strategises dumping its own token would go down well … People are free to dump pickle rewards for eth if they wish.

I see that. That’s just gonna be outsourced to YFI then :slight_smile:

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I agree, lets make this happen~!

Failing to be able to automate the reinvestment in each farm, due to the constraints imposed by the Masterchef contract, would it be possible for a contract to harvest the rewards of all the (registered) participants?

I mean, anyone could call this function to make every “registered” address receive its earned rewards since the last harvest.
Why not provide a bonus for whoever calls the function? (0.1% of all rewards claimed, for example), in order to offset the cost of gas charges and for service rendered …

I tried to schematize what I think ^^

I imagine that would need one contract of this type per farm.

:thinking: :recycle:

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Hi!
Isn’t what you’re saying more or less Alpha Homora’s system?
https://alphafinancelab.gitbook.io/alpha-homora/step-by-step-guide#bounty-hunters-geminio

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