Pickle Finance Quarterly Business Review - Q3 2022
Each quarter the Pickle Finance team will provide a quarterly business review (QBR) to the DILL DAO. This includes changes to team personal, product roadmap developments, and a breakdown of our finances.
This QBR is for Quarter 3, 2022
Team Updates
Over the past quarter we have brought on Cruella, a Design Lead and Scrum Master. Cruella will be ensuring we are shipping with velocity and fills our vacant design role. So far Cruella has greatly streamlined our agile scrum processes and documentation, freeing up time to deliver with more pace.
Product Roadmap Updates
Q3 was a big quarter when it came to new Jar releases, but we’re still figuring out how to complete some of our more complex strategies and product releases.
Our 2 biggest achievements for the quarter were
- The dual rewards launch on Optimism. This has attracted a further $2m in TVL to our Jars and Farms
- Our Pickle PFPs are nearing completion with Fennec finishing the base designs and attributes. These will be launched once our Gauge Proxy V2 is finalised.
Items like the BAL Brinery, Pickling Jars and Gauge Proxy V2 are still under development but are set to be finalised in Q4.
On top of the carried over developments from Q3, we will be focussing on a Yearn Brinery, Pickle PFPs Launch and the Gauge Proxy V2.
Financial Breakdown
Due to a large change in the balance sheet from our $OP governance token funding our stated runway stands at 23 months, and 15 months with $0 revenues.
Below is the balance sheet and income statement for the quarter
Balance Sheet, Q3 2022
Income Statement, Q3 2022
While the start of the quarter trended positive as revenues increased, the hit to the markets in September reversed most of these gains. We hope our Optimism dual rewards continues to create positive momentum over the next quarter as we aim for profitability once again.
If you have any questions on the above, we will be holding our community call later this month, and you can always reach out to the team via our Discord channel.
What is Pickle Finance
Pickle Finance is a yield aggregator that maximises yield on behalf of users. Users realise the power of compounding, while saving time and money compared to manual yield farming.
