Reducing Pickle auto-compounding fees

 Current auto compound reward fees are 20%, we believe that it is in the best interest of the protocol to reduce said fees. We believe that reducing fees to 10% will help Pickle stay competitive in the long run by enticing a larger customer base and more “whale” usage and in turn driving more TVL/revenue to the platform. For context, we are large supporters and power users of the platform, with just over 47,000 PICKLE to our name, and want to see the platform gain the recognition it deserves. Recently we’ve pulled funds from the pJars due to the fee. 

We propose cutting the 20% to 10%, and we believe that in doing so we can incentive more large players to use the ecosystem, and while fees paid to the treasury will be smaller on an objective basis, we think a case could be made that lowering the fee will incentivize new funds to flow onto the platform, and hopefully bring the TVL back to the days of ATH (over $140m, we are currently around $70m).

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I support lowering the fees and I have pulled money off of Pickle due to high fees on my larger positions. I’ve gone back to manual harvesting for now.

thanks for the suggestion, just a quick question, are you aware of the PICKLE rewards? you did not mention that in your post.

these rewards that on many farms constitute more than the original pool farming rewards

are you aware that the fees fund the Pickle protocol, generate value for the PICKLE token and make the PICKLE rewards on top of farming valuable?

just checking

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this, pickle rewards make up for the fees

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The core team is planning on hiring more people to try to speed up development and get us back into the technical shape needed to compete in the marketplace.

Cutting treasury’s cut to half of what it is now would not only prevent any hiring but also likely put us cash flow negative each week.

I don’t believe now is the right time to do this.

@coin.cloud you idea is interesting I also agree on this logic, but as @JimmyJ mentioned your Pickle earning should compensate and earn you more than what fees cost you…it seems to me we are not the cheapest or the most expensive auto compound yield farming protocol from my benchmark but maybe I m wrong :sweat_smile: even more as @rawb mentionned we are recruiting more dev to gives more manpower to core team, improving release of new jar and added value to get more TVL…
Team has done a great job on Arbitrum Quick development, we should invest more than reducing our protocol revenu for the time being, the opposite would likely kill us in my opinion at this stage :pleading_face: