Curve USDN3CRV strategy where the 10% dev fee is used to compensate victims of the pDAI hack

This is not an official re-imbursement strategy from Pickle Finance for DAI lost in the pDAI hack. It is just a new profitable strategy for a new jar proposed by a community member who deliberately wants to share the 10% dev fee with affected pDAI jar holders in the community.

There is a demand for strategies where the Dev gets 10%.
So i am free to distribute my 10% dev fee to pDAI hack victims.
Could be distributed based on snapshot.

i created a draft proposal v1: Curve USDN strategy
Since Curve is a blue chip project.
The strategy is similar to the sCRV strategy and fits the get stablecoins on peg mission of Pickle. Low risk, high reward.

base APY currently at 1.80%
CRV mint APY at 29.34%
and can be boosted to 73.34%

any thoughts?

proposal is to create a token with balances based on the pDAI prehack snapshot which give a share of the profit contract
we just configure that contract as address payable in dev fee of this Curve USDN strategy

it would be silent airdrop style, you just got balance that you can withdraw from time to time

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I am very grateful to see proposals that try to reimburse based on new profits rather than to squeeze from the existing profit margin. Disclaimer: I am one of the victim of DAI hack

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I am not a smart guy but I think that’s something in a good direction!

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This seems like a very good strategy to move forwards as an opt-in where we can choose to help those affected. I would support this or other similar strategies 100%.

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I believe this is in the right kind of direction tthis project needs right now.

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I love the initiative! hoping that this inspires other strategists ^^

There has been a lot of interesting discussion on the Discord (a great start here: https://discordapp.com/channels/750784472697405646/779844520824406038/781047026702876682)

A survey is also proposed to find out the amount with which the losers would be satisfied (see message pinned in #Hack).
cornichonpoll

The main obstacle to such a strategy comes from the need to be validated by Team Yearn to be deployed …
I like to think that Team Pickle could push a strategy in this direction. :pray:

I made a table, I don’t know if it’s useful or if I need to make changes to it …
It presents the distribution of income according to the strategy creator (I may be wrong).

The last column presents a strategy such as the one proposed by purplezky.

Not having more information on how things will evolve, tell me if you have any comments

1 Like