Th current allocation of Pickle rewards are as follows:
I am proposing increasing the rewards of the renBTCCRV pool to 7% from its current 5%. The 2% increase can come from a removal from the PICKLE/ETH pool or another pool we can discuss.
The logic behind this is as follows:
With the possible removal of withdrawal fees new LPs will feel comfortable coming into Pickle and TVL should increase. One of the largest and most underrepresented groups of TVL are Bitcoiners. Bitcoin money represents a huge tranche of capital that is under-serviced in the DeFi space. Bitcoiners are notoriously skittish so to give them the incentives to park money with Pickle would prove very helpful.
As of now Bitcoiners have very few options of earning yield. They can keep their money with Curve (~3%), they can boost their Curve (~7%), They can park it with Harvest (~10%), and that’s it.
By truly servicing this community Pickle has an opportunity to uniquely position themselves as the home for Bitcoin in DeFi. This presents a fantastic marketing opportunity as for the few farms that do support Bitcoin, it’s mostly an afterthought.
By increasing the Pickle Rewards and (hopefully) the removal of the Withdrawal fees, Pickle can cater to this new tranche of capital and have an incredible marketing narrative they can run with. This can prove to become Pickle’s key differentiator.
I’ll leave you with Pickle’s mission statement that I find we all love:
“Highest yield. Lowest risk. Longest time.™️”
TLDR: Increase Pickle Rewards for renBTCcrv pool 2%. Great marketing opportunity. Unlock new tranche of capital from Bitcoiners.