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 https://tholgar.xyz.
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;
Yes / No / Abstain