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Quality is everyone’s responsibility.

W. Edwards Deming

Pickle Finance has been brining non-stop in the past month. In this issue, we cover:

  • Audit Updates
  • Curve whitelisting Journey
  • The DAI Jar
  • And last but not least: ⚡pJar swapping

Audit Updates

MixBytes has also completed a preliminary audit of the rest of our strategies. We are currently working through remediations and a cleaned up second report should be released shortly. After this, we will be receiving a final third report from MixBytes that covers our entire suite.

We have also signed with Samsung-backed Haechi Labs to get a second pair of eyes on our smart contracts. The current estimate for a preliminary report is November 9th, 2020.

Keep an eye out for more audit reports to be released in the coming weeks!

Curve Whitelisting Journey

If whitelisted, Pickle Finance would purchase a number of CRV using the Community Treasury, and lock up a portion of farmed CRV rewards in order to achieve the max 2.5x boost ASAP. The Pickle community has also agreed to play an active role in Curve’s governance.

Voting happens in two stages:

  1. An off-chain Snapshot vote to gain a signal from the community
  2. An on-chain DAO vote to actually pass the changes

As of today, we have passed the snapshot vote 🥳:

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The next step would be to proceed to an on-chain vote.

However, due to recent rumblings in the industry, the Curve team has reached out to us for a delay of one to two weeks to be extra sure about security and put in place further checks.

This delay is unfortunate, but we agree with this decision because the safety of our users funds is paramount and we see this as a necessary precaution. We will make sure to keep the community updated as things progress.

The Dai Jar: pJar 0.88

  1. Users deposit DAI into pJar 0.88;
  2. Strategy supplies DAI to Compound;
  3. Strategy borrows more DAI from Compound;
  4. Repeat from Step 2 until desired leverage is reached.

This allows us to maximize COMP rewards up to a specific “safe” maximum collateral factor determined by governance. At launch, this will be 13.3% below the market collateral factor.

You can deposit your DAI here to start earning yield.

The strategy for pJar 0.88 contains novel code, and is highly experimental. Do not put in more funds than you are willing to lose.

⚡pJar swapping⚡

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Try it out today:

The ability to swap from one PickleJar to another is released today. This gives PickleJar users the ability to jump directly from one Jar to another. For example:

  • sCRV to renBTC CRV
  • UNI DAI/ETH to 3poolCRV

There is no fee for transferring between jars. This is a huge step forward as previously users would have had to incur withdrawal fees. However, there is still the possibility of slippage because Uniswap is used under the hood to swap assets.

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