UPDATE: Proposal is now open for voting here.
As suggested by Robert Leshner from Compound Finance here, the allocation of PICKLE rewards to the various stablecoin pools should be revisited, in light of DAI returning closer to peg.
The current percentage allocation of PICKLE rewards are as follows:
- Pickle Power (PICKLE/ETH LPs) - 75%
- psCRV (from staking sCRV in pJar 0) - 4%
- pUNIDAI (from staking DAI/ETH in pJar 0.69a) - 1%
- pUNUISDC (from staking USDC/ETH in pJar 0.69b) - 9.45%
- pUNIUSDT (from staking USDT/ETH in pJar 0.69C) - 10.5%
The original reward allocations was predicated on the fact that DAI was often wildly off-peg (sometimes fluctuating to up to $1.05). With the recent changes to Maker’s collateralization ratio requirements, DAI has now largely returned to peg.
The reasons for a skewed allocation of PICKLE rewards is no longer present, and so the rewards should be adjusted accordingly.
We propose allocating an equal share of PICKLE rewards to each of the non-PICKLE/ETH farming pools (i.e. the stablecoin pools). There is currently no valid reason why one of the stablecoin pools should be favoured over another.
If this proposal is accepted, each of the non-PICKLE/ETH farming pools will be allocated 6.25% of PICKLE rewards, for a total of 25% across the stablecoin pools.