PGM-38 : Tholgar Grant

TL-DR: Grant the Tholgar team retro-actively


Warlord was launched in June and demand for an auto compounder on top of it has been growing. We thus reached out to the Paladin core team to develop this product. We were already known by the team to have developed a few solutions such as the quest alert bot, defiLLama data and were in capabilities to develop it.

This week, we have launched the first product of Tholgar which is the Warlord Auto Compounder totally. The project is open source and accessible on the interface at


We are requesting the DAO to grant us 75,000 PAL in order to cover development costs. There is precedent for this as the DAO has unlocked a 250,000 PAL budget that was never fully used (PGM-26).

The development of the project has been a long process, as the contracts and the interface were created from scratch. We worked closely with Paladin’s team to ensure the overall quality. The deployment was also a costly step with almost 0.1 ETH as gas fees and the buy of the DNS. Finally, The harvest/compound will not be profitable until we reach a threshold of an estimated amount of 100k$ TVL. Until then, the operating fees will be paid by our funds.

Nonetheless, this project brings a lot of benefits for the Paladin’s ecosystem. First of all, the attractivity of the Warlord product will be increased as our solution delivers a higher yield for end users. This will bring revenue to the Paladin DAO through Warlord Fees.
We will also help improve the peg of the $WAR index as we will mint new WAR pretty often and will in the end bring higher yield to every user as we are not going to claim cvxCRV and auraBAL to earn more WAR from these assets.

With Tholgar, we aim to create a long living protocol that empowers synergy with Paladin to bring more users to this amazing ecosystem.

This grant is important for us since our solution does not intend to produce benefits for us. Performance fee is just meant to reimburse the gas fees. They will decrease overtime as the vault grows.

As soon as there will be some deposits on the product, our efforts will shift towards the creation of new products that will use the Paladin auto-voter directly. We also want to highlight that we will lock most of the PAL granted as we believe long term in Paladin.


  • 75,000 PAL;

Voting Options:

Yes / No / Abstain

  • For
  • Against
  • Abstain
0 voters
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Gm ! Thanks for this proposal ! Glad to see projects being built on top of Paladin :fire:
How many members counts the Tholgar team ?

The first and last sentence of this proposal are a bit contradictory, as it sounds like part of the grant would need to be sold on market to cover some costs.

Could you provide a breakdown to explain the split of this grant & for which duration do you intend to lock which proportion, as well as others “expenses” planned please ?

My point being that for exemple if 80% are split between two team members as compensation and 20% is expected to be sold to cover deployment costs, it can make sense to reduce the amount of PAL and request the 20% in ETH/Stables directly to avoid the selling pressure.

Also, if several team members are receiving PAL, probably better if they can all communicate about the intention to lock their share.

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Gm !

The tholgar team is composed of two members : 0xtekgrinder and me.

That is correct, a part of the grant will be sold to cover the deployment fees as detailed in the OP.

Concerning the breakdown, we plan to first swap a part of the grant to reimburse for the deployment fees (about 0.1 ETH). We estimate our future operational fees at ~$500 equivalent of ETH (0.3). Note however that this amount cannot be determined with accuracy because it depends of the traction of the project : once the deposits will reach $100k, the operational fees will be covered by the protocol runs.
Finally, we want to swap another part equivalent to $500 for each team member as a direct reward for the work produced. The rest of the grant will be locked for hPAL for 12 months.

Your proposition seems fair to us as long as it does not change the grant total amount. We can modify our proposal to :

  • 1.03 ETH which includes :
    • 0.1 ETH for deployment fees
    • 0.31 ETH for operational fees
    • 0.31 * 2 = 0.62 ETH for direct rewards
  • 55 000 PAL (75 000 - ~1.03 ETH)

Gm ! Thanks for your detailled answer & for switching operational costs currrency.

Considering the reasonable amount needed in ETH, it make sense to spent it directly from the treasury to avoid PAL sold on market imo.

I support this proposal :fire:

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Quorum PGM-38: 629 218 votes