Pickle aggregates and compounds yield from other protocols, saving users time and money compared to doing it themselves.
Larry the Cucumber - Co-founder
MisterMard - Smart contract engineer
- Website: https://app.pickle.finance/
- Twitter: https://twitter.com/picklefinance/
- Discord: Pickle Finance
- Contracts: GitHub - pickle-finance/contracts: Deployed contracts
- TG: Telegram: Contact @larrythecucumber
- Twitter: https://twitter.com/larrythecumber
- Email: firstname.lastname@example.org
- Liquidity incentives to depositors: 80k ARB
Funding Address: 0xf02CeB58d549E4b403e8F85FBBaEe4c5dfA47c01
2/6 Gnosis Safe (will be modified to be compliant with the 2/3 requirement)
Incentivzed contracts include existing vaults here, with more contracts being incentivized as new vaults are developed
- Expand Pickle’s suite of products on Arbitrum and grow its usage
- Foster community engagement on exploring the opportunities on Arbitrum
- Strengthen synergies between Pickle and other Arbitrum-native protocols
- Number of new products launched (vaults + others)
- Increase in TVL in Pickle’s Arbitrum products
- Amount of yield processed for users
- Community engagement on Twitter and Discord
How will receiving a grant enable you to foster growth or innovation within the Arbitrum ecosystem?:
Receiving a grant will enable Pickle to allocate more resources to developing innovative products on Arbitrum, and provide better liquidity incentives, thereby contributing to the overall growth of the Arbitrum ecosystem. Pickle can leverage its long-standing and strong reputation in DeFi, as well as its active community to advance these objectives.
We request a modest grant to start because we believe it will be adequate for incentivizing builders and garnering renewed interest in Pickle on Arbitrum. Arbitrum remains Pickle’s most active chain after Ethereum mainnet, and there is much alignment with our community and Arbitrum such that the grant will advance both our project’s objectives.
To start, ARB incentives will be given to all active vaults on Arbitrum, apportioned based on current deposits. However, distribution of liquidity incentives will be subject to ongoing impact assessments in order to determine optimal allocations and make corresponding changes. Effectiveness will be based on a number of factors including:
a. Incremental TVL per $ of incentives
b. Amount of yield processed (i.e. on-chain volume) generated per $ of incentives
c. Cross-pollination between protocols based on limited-time targeted incentive programs
We plan to distribute/utilize the incentives linearly from the date funds are received until January 31, 2024
Do you accept the funding of your grant streamed linearly for the duration of your grant proposal, and that the multisig holds the power to halt your stream?
No - Pickle was initially launched on Ethereum Mainnet, but Arbitrum has been where the majority of its L2 activity has concentrated.
Ethereum mainnet, Aurora, Fantom, Moonriver, Moonbeam, Optimism, Polygon
September 2021 - see the announcement here
Pickle has a very rich history of on-chain activity on Arbitrum. A total of 16227 transactions have been performed on Pickle-related contracts on Arbitrum (see Spreadsheet). Over 35 smart contracts have been deployed by the protocol on the network.
At its peak, Pickle had over $16M in deposits on Arbitrum according to DefiLlama.
Numbers aside, owing to its strong community, brand-name and eagerness to partner with other protocols, Pickle can be credited with originally onboarding many users to Arbitrum, seen in this Arbitrum forum discussion.
Activity on Pickle has admittedly admittedly slowed since the beginning of the bear market. This was a conscious decision by its contributors to conserve treasury funds until the bull market returned. However, the community/contributors remains active and is re-invigorated by the possibility of a catalyst such as this to fully resume operations.
This modest grant proposal will enable Pickle to continue developing and refining yield-optimizing strategies and develop deeper integration with Arbitrum ecosystem partners, all with the support of an enthusiastic community who is eager to use Pickle’s products.
All audits provided here: https://github.com/pickle-finance/protocol/tree/master/audits
Does your team acknowledge that failure to comply with any of the above requests can result in the halting of the program’s funding stream?: