APIR 25: Pickle Finance pLQTY - integration 4th winelisting

Projects Presentation:

  • Protocol: Liquity x Pickle Finance
  • IBT requested (Name and ticker of the asset): pjar0.99l - Pickling LQTY (pLQTY)
  • IBT contract address: https://etherscan.io/token/0x65b2532474f717d5a8ba38078b78106d56118bbb
  • Current TVL on the requested IBT: $220K
  • Current TVL of the protocol: Pickle - $13M, Liquity $ 424M (TVL of staked LQTY: ~$36M )
  • Twitter/Discord links: [I cannot add too many links as I am limited at 2 per post as a new user]
  • Audit(s) link(s) : Pickle x2 - Security - Pickle Finance Docs
  • Supported chain(s) : Ethereum

Summary

Liquity is an interest-free borrowing protocol on the Ethereum mainnet, live for more than a year. Staking LQTY offers a dual yield made of LUSD from initiation fees paid by borrowers and ETH paid as fees by arbitrageurs during redemptions.

Pickle Finance is a yield maximizer, similar to Yearn or Beefy.

The integration proposed - the Pickle Jar 0.99l - is an auto compounding vault for LQTY staking: it converts the ETH and LUSD obtained back into LQTY and stakes them.

Rationale

This proposal aims to integrate LQTY via Pickle Finance into the fourth wine listing event.

The Liquity treasury has LQTY available that could be used to supply the FYT/PT and PT/Underlying pairs.

Benefits of this integration for Pickle Finance

While the Pickle Finance LQTY jar has been available for almost a year, its TVL is still somewhat moderate. This integration will help highlight Pickle auto compounding LQTY jars and attract more capital.

Benefits of this integration for Liquity

Around half of the supply of LQTY is staked (35M/78M). This integration will help draw more interest in the auto compounding solution offered by Pickle and provides new opportunities to LQTY stakers.

Benefits of this integration for the APWine DAO

  • Increase the tokenized TVL and the AMM TVL
  • Diversify the yield possibilities for the APWine community
  • Increase the visibility of the project with cross-marketing
  • Moreover, the FYT markets can prove very interesting, as we observe significant variations in the LQTY yields: they tend to spike in bullish periods (when a lot of LUSD are minted) and plateau during bear markets.

Metrics

Pickle Finance on Twitter: 25K followers

Liquity on Twitter: 30K followers

Means

No additional resources are needed for now

Voting options:

Should pLQTY be included in the 4th winelisting vote?

  1. Add pLQTY to the 4th wine listing vote
  2. Don’t add pLQTY to the 4th wine listing vote
  3. Abstain
  • Add pLQTY to the 4th winelisting vote
  • Don’t add pLQTY to the 4th winelisting vote
  • Abstain

0 voters

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