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Information

Data from
Issue Time
1970/01/01
Initial Price
US $ 0.65653702
Circulation/Max
1.90M/
Dominance
0.00%
ROI -88.79%
$0.65653702$76.84779514
Low · 2022/12/302022/12/30 · High

Information

What is Pickle Finance?

Pickle Finance is a Yield Aggregator.

  • Pickle Jars

Jars are the Pickle equivalent of yearn.finances vaults. A jar receives a specific asset (usually an LP token), such as sLP ALCX/ETH (Liquidity provider token for the ALCX/ETH pair on SushiSwap), and utilizes a strategy developed by the Pickle Finance team to earn a yield on that asset. Users' assets will auto-compound to earn more of themselves, meaning users' holdings of that asset will only increase.

  • Pickle Farms

Farms are the next step after putting an asset into a jar. When users deposit an asset into a jar, such as sLP ALCX/ETH, they will receive a number of pTokens (in this example, pSLP ALCX/ETH) that represent their share of the tokens in the Jar. These pTokens can then be staked in the appropriate farm to earn additional PICKLE rewards on top of their existing rewards. Users' PICKLE rewards can be boosted by locking existing PICKLE tokens for DILL for up to four years.

Answers

What Is Pickle Finance (PICKLE)?

Pickle Finance is a yield aggregator that compounds LPs across various chains. Users realise the power of compounding, while saving time and money compared to manual farming. Pickle Finance has Jars, and Farms. Jars compound returns from other protocols, creating a pToken. Farms provide extra Pickle rewards for staking a jars pToken.

The Pickle Protocol is governed by DILL holders (users that stake PICKLE) who are able to create and vote on proposals for changes to the protocol. DILL holders also get to share in 45% of protocol revenues, as well as boost the PICKLE rewards on their farms.

Who Are the Founders of Pickle Finance?

Pickle Finance was founded by four pseudonymous developers who are primarily represented by an individual known as "Larry the Cucumber" — a reference to a character from the religious cartoon Veggie Tales. One of the other developers, "Rick," left the project early on, while the other two developers, "0xPenguin" and "BigBrainBriner," stepped away left in December 2020.

Larry the Cucumber has said that he has previous experience in web development and Android mobile app development. His first exposure to crypto was in 2015 when his friend BigBrainBriner introduced him to Ethereum, and he later started to experiment with developing Solidity-based projects. He first realized the potential of decentralized finance with the success of the Maker Protocol.

Through thick and thin Larry has stayed with the protocol developing new strategies and expanding the protocols reach. The core team now consists of many members dedicated to furthering Pickle Finance as a leading DeFi prtocol.

How Many Pickle Finance (PICKLE) Coins Are There in Circulation?

Pickle Finance does not have a maximum token supply. New PICKLE is minted with each Ethereum block in a rapidly decreasing pattern, with 0.05 PICKLE per block the current emissions schedule.

The project neither premined tokens nor held an initial coin offering, and it has said that it did not receive venture capital investment.

In December 2020, Pickle Finance announced that it would soon release its "Smart Treasury" that will automatically buy back PICKLE with revenue from fees, act as a liquidity provider and generate trading fees, and issue PICKLE to be used for things such as grants.

How Is the Pickle Finance Network Secured?

Pickle Finance uses an ERC-20 token, which means that PICKLE transactions are validated by the Ethereum blockchain. Ethereum uses a proof-of-work consensus algorithm in which miners compete among each other to add new blocks to the blockchain and a majority of all nodes in the network must confirm a record for it to be posted.

Pickle Finance's strategies were audited by blockchain security firm MixBites, and the complete protocol was audited by Haechi Audit, which found no major security vulnerabilities. However, in November 2020, Pickle Finance was hacked, and nearly 20 million DAI was stolen. Haechi Audit clarified that the attack was carried out against a newly created smart contract, not one that had been audited by the firm.

Where Can You Buy Pickle Finance (PICKLE)?

PICKLE is primarily exchanged on Uniswap (V2), although it is also listed on MXC.COM, Bilaxy, Hoo and others. It can be traded against Ether (ETH), WETH (WETH), Aave (AAVE) and Tether (USDT).

Are you interested in buying PICKLE or other cryptocurrencies such as Bitcoin (BTC)? BYDFi has a simple, step-by-step guide to teach you all about crypto and how to buy your first coins.