Pickle DAO

Abstract

This proposal, if passed, would whitelist Beluga.fi veManager on PICKLE’s VotingEscrow.

• Beluga acquires DILL through the means of offering a wrapper for PICKLE locking.
• Beluga launches metavaults for PICKLE which maximizes yield for pJar users through the means of Beluga’s boost and Beluga’s innovative maximizer strategies.
• Beluga offers a beDILL vault which allows users to lock their PICKLE to earn a 3% kickback on PICKLE farmed by Beluga’s VeManager/metavaults + fees distributed to DILL holders.
• Beluga brings benefit to PICKLE’s liquidity through its yield maximization strategies.

Proposal

Beluga is seeking to acquire whitelisting on PICKLE Finance’s VotingEscrow contract. Beluga seeks to offer a liquid locking wrapper for DILL which allows for users to reap the benefits of PICKLE locking (and more!) whilst having instant liquidity available at any time for redemption.

Beluga will utilize this lock to offer metavaults for PICKLE’s users that maximize returns on PICKLE’s numerous pJars. This yield maximization will also benefit PICKLE’s liquidity through its maximizer strategies which instead compound into PICKLE’s PICKLE/ETH Sushiswap LP instead of being converted back into the pJar supplied by the user, maximizing the yield generating by PICKLE’s pJars.

This will allow for PICKLE users to earn boosted maximized yields.

A percentage of this yield generated by these pJar metavaults will also be rewarded back to beDILL holders. This will be in the form of a 3% kickback paid in PICKLE tokens. In total, Beluga will be charging a 16% performance fee to maximize PICKLE yield for users on Pickle.Finance.

Benefits to PICKLE

• Beluga will bring benefit to PICKLE in the form of stronger liquidity through its yield maximization strategies, which will help bootstrap liquidity for PICKLE.
• Beluga will allow users of PICKLE’s pJars to maximize their yield to its fullest potential.
• PICKLE holders will be able to stake their PICKLE tokens without the hassle of lockups.

Conclusion

To conclude, Beluga is seeking to offer a liquid staking option for PICKLE holders to reap the benefits of DILL and also earn a share of Beluga’s boosted yield.