Future Boosting of renBTC CRV Pool

Hi all,

An idea was proposed in chat to discuss the future potential of boosting the renBTC CRV pool.

As we all know we are waiting for the blessing from the Curve team to have an official on-chain vote to whitelist Pickle for possible boosting. The current consensus has been that the pool that will be boosted would be the Curve 3pool on Pickle. I am proposing and looking for feedback on the idea of shifting some of that boost to the renBTC pool.

Here is the logic. As of right now Yearn does have boosted Curve pools. What NOBODY has is a boosted BTC pool.

Alongside the removal of withdrawal fees, the possible increase of Pickle LP rewards to the renBTC pool, this boost could be yet another arrow in the quiver of attracting the massive tranche of Bitcoin TVL that is just sitting there wrapped waiting for a usecase.

There is over a $1.6 Billion of Wrapped Bitcoin floating around out there right now. Where is it? Why can’t we capture it into our TVL. As we know liquidity has no loyalty. I feel if we make coming to Pickle a no-brainer with this boosted auto-harvesting pool it is a home run to increasing TVL and OPTICS!

Open to feedback.

TLDR: I am proposing we add some amount of boost to the renBTC CRV pool on Pickle. Right now only 3pool has been suggested as the boosted pool. I believe boosting renBTC will be yet another attractor to Bitcoin capital, will increase Pickles TVL, and ultimately the price of pickle.

This if combined with:
Removal of withdrawal fees
Increased LP rewards for Bitcoin CRV pool

…is a home run in my opinion.

Please comment.

5 Likes

I think this is a fantastic idea. I would absolutely like to see CRV boost applied to renBTC pool. We need pickle to standout from the crowd and be a unique destination for liquidity providers and provide rewards users can’t find elsewhere. Users have countless stablecoin deposit options, BTC is the way we can stand out from the sea of same, copy and paste protocol rewards. I think this will increase traffic to the platform and boosting TVL and there for revenue and pickle price - a net win.

2 Likes

I understand that the 3CRV pool had been privileged because its audit was the first one carried out.
Whitelisting was expected to be effective sooner, but the situation has since changed and it is likely that Pickle will be fully audited before we are eventually whitelisted.

I’m sure all CRV Jars will be boosted, without any distortion.

Not all boosts have an equal return on investment, might not make sense to boost them all. Maxing the one with the highest return first (3pool atm) seemed the best way to go about. I do agree that it is an opportunity to capture a bigger BTC TVL share. If it makes sense from a return on investment perspective and attracts more BTC TVL, it would probably be a good move.

1 Like

I don’t see why not, if we eventually get whitelisted.

2 Likes