Upgrade 3Crv Strategy
I’ve suggested Abracadabra as a strategy for stablecoins before (levering Yearn vaults to get a better emissions to revenue ratio). However, such a strategy isn’t the tried and tested deposit tokens, and harvest rewards. Abracadabra has added 3Crv tokens staked through Convex as part of their collateral. We could use Abracadabra to update the existing 3Crv strategy (at time of writing the current strategy returns 4.94% through CRV rewards, before Pickle fees). Abracadabra will let you claim your rewards on your folded position through Convex, this makes it straightforward for Pickle on how to monetize this strategy. Updating 3Crv to just Convex would already net a big percentage boost (a more than 2x increase at current rates, and a more than 4x increase in projected apr). Using Abracadabra on top of that could multiply those rewards even further. We’d be at the mercy of borrowable MIM though, as we can’t keep on folding new depositors if no further MIM can be borrowed. Therefore I suggest we also let people deposit 3Crv which doesn’t get folded on Abracadabra if no MIM is available to borrow (maybe as two separate strategies).
Polygon MAI/DAI JAR
They recently changed all their emissions and the current MAI/USDC pool got its emissions cut in half. I propose we change the MAI/USDC jar to the new MAI-DAI pool at quickswap. MAI/QI pool is also no longer receiving rewards. We could also add their new pools which are QI/MATIC & QI/ETH
Tokemak Symbiotic Jars
Tokemak allows you to deposit single sided assets, at time of writing ETH and USDC, which are then used to provide liquidity elsewhere. TOKE stakers (Liquidity Directors) vote on where deposited assets go to provide liquidity on various exchanges. TOKE is also used to collateralize the network to mitigate the IL risk, in this way IL risk is transferred from LP’ers to LD’ers. Since all farming works in cycles on Tokemak, this jar would also require locking liquidity. Cycles are explained in my post here: https://feedback.pickle.finance/jars/p/tokemak-uniswapsushiswap-jar My idea is to create symbiotic strat for these single sided assets: deposit ETH or USDC (and in the future maybe more assets), harvest TOKE, deposit TOKE in the single sided TOKE pool, withdraw principal + TOKE upon exiting the jar.
Tokemak Uniswap/Sushiswap jar
Tokemak has two pools for their governance token, one on Uniswap v2 ( https://app.uniswap.org/#/add/v2/0x2e9d63788249371f1DFC918a52f8d799F4a38C94/ETH ), and one on Sushiswap ( https://app.sushi.com/add/0x2e9d63788249371f1DFC918a52f8d799F4a38C94/ETH ). With a combined TVL of $40m, and an APR of >500% at time of writing this seems like a prime candidate for a jar, this isn’t however a normal pool 2 farm. Tokemak uses cycles to distribute rewards to depositors. As of right now, cycles are daily, if you deposit during a cycle you’ll begin earning TOKE at the start of next cycle. Rewards are claimable weekly, this means that if you deposited during cycle 3 you’ll acrue TOKE from the start of cycle 4 and be able to claim at the start of cycle 8. Eventually Tokemak will transition to weekly cycles, which means that you’ll start accrueing TOKE in the weekly cycle after you deposit. The medium link to their article about cycles: https://medium.com/tokemak/toke-rewards-cycles-reminder-6c00c0380297 Since locking liquidity in jars is being explored, and this requires locking, this sounds like a good candidate for a jar.
Pickle Stable Coin Aggregator Jar (Polygon)
Pickle Finance can have a yearn style stable coin lending aggregation jar with the help of Impermax protocol using the below strategy: Yearn style stablecoin pJAR idea: On impermax protocol (Polygon) you get ~20% on single side stable coins (refer screenshots below). Impermax protocol has the highest single side LP rewards due to the extremely high utilisation ratio as supplied funds are always used up by leveraged LP Token borrowers. Users can deposit their desired stablecoin (UDST,USDC,DAI or miMATIC) and the pJAR and it will swap it for the stablecoin with the highest singleside interest on Impermax (currently miMATIC at 27%). The stablecoin supplied on Impermax will keep changing with the change in interest rate and if the user wants to withdraw, the current stablecoin being lent (if different from the original), will be swapped for the original token deposited and returned. Curve Finance can be used for swapping between USDT<>USDC<>DAI and Quickswap or QiDao's USDC swap (whichever is cheaper) if a swap has to be made into miMATIC from the other stables. This strategy can easily give a user a very safe and low risk and an APR > 20% on stablecoins which is really good.
Add Pickle Jars on Polygon Network
Currently, we only have 2 Liquidity Pool options for pickle on Polygon: Pickle/Must Pickle/DAI Must is not a coin most people want to hold in a significant amount and a stable coin pair is less attractive if we are to enter a bull run. Bridging and reinvesting Pickle rewards to the Etherium network for Pickle/ETH is also very inefficient. Therefore I propose adding on the Polygon Network: Pickle/MATIC Pickle/ETH These two are well suited to achieve maximum gains in a bullrun and I believe is attractive enough to reduce selling pressures on Pickle rewards.
Ondo Finance Fixed Yield Jars
Ondo Finance is a protocol that breaks down the exposure to risk when providing liquidity, essentially giving you access to leverage in the form of variable APY and gauranteed gains in the form of fixed APY. I was thinking that we could make a jar for the fixed APY of these components (variable APY can go negative, as the fixed component has to be paid out first before the rest is distributed to the variable component). We could make a USD jar, and an ETH jar. Ondo vaults initially will have fixed durations of about a month before yield is distributed. When vaults will eventually be perpetual products, jars could invest in such a way that they deposit into higher fixed yield vaults, as those vaults come in. A USD jar could reinvest into the next vault that has a fixed USD stablecoin yield. An ETH jar could do the same for fixed ETH yield. Below are the current running vaults.
cvxCRV and CVX vaults
Since we potentially have Convex strats incoming for stEthCrv, p3CRV and tricrypto I propose we also introduce cvxCRV, and CVX vaults to deposit the rewards off (or a portion of, like Badger has) in those afforementioned jars in their respective vaults. This could also bring in TVL of those that just wish to stake CVX and/or cvxCRV.
New $MATIC Jar (Polygon)
Buy some $MATIC on Quickswap Lend $MATIC on Aave to earn interest in $WMATIC Deposit amWMATIC in QiDAO vault (camWMATIC) Borrow (50% - 33%) worth of miMATIC using your amWMATIC collateral (this is interest free). The amount borrowed depends on your risk appetite and market conditions. Create LP token of USDC/miMATIC on Quickswap Deposit Quickswap LP token in Impermax Leverage LP token X16 to enjoy leveraged $QUICK rewards and to earn IMX rewards Swap $QUICK and $IMX LM rewards for $MATIC camMATIC vault auto compounds WMATIC LM rewards on Aave. swap for $MATIC Lend $MATIC on Aave again Deposit amWMATIC in QiDAO vault to either borrow more at the same health factor or improve health factor. Repeat this process and auto compound to accumulate maximum $MATIC For detailed explanation refer this link: https://docs.google.com/document/d/1XNveLVVaF6km6s2xy9wTWkBPPAsEw7JWF6kqErg_jJY/edit?usp=sharing For Detailed strategy computation refer this link: https://docs.google.com/spreadsheets/d/15_UWSWQsfYZ0jQ1llqc-s7m9KInOG5sHr2tyJJdS70E/edit?usp=sharing