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About Pickle Finance
Key Points:
- Pickle Finance is a yield aggregator that compounds LPs across various chains.
- It has Jars and Farms, with Farms providing extra Pickle rewards for staking a jar’s pToken.
- The Pickle Protocol is governed by DILL holders who stake PICKLE.
- DILL holders get to share in 45% of protocol revenues and boost PICKLE rewards on their farms.
Founders:
- Founded by four pseudonymous developers, primarily represented by “Larry the Cucumber”.
- Larry has experience in web development and Android mobile app development.
Tokenomics
About Pickle Finance: Empowering DeFi Yield Optimization
Introducing Pickle Finance (PICKLE): A Comprehensive Overview
Pickle Finance is a yield aggregator that optimizes liquidity provision across diverse blockchain ecosystems. By harnessing the potency of compounding, users can reap substantial benefits while saving valuable time and resources, thereby eliminating the need for manual farming. The platform features two core components: Jars, which aggregate returns from external protocols to generate a pToken, and Farms, which offer additional Pickle rewards to users who stake their Jar’s pToken.
The Pickle Protocol is overseen by a decentralized governance model, wherein DILL holders, comprising users who stake PICKLE, wield the authority to propose and vote on amendments to the protocol. Furthermore, these stakeholders are entitled to a 45% share of protocol-generated revenues, as well as an augmented PICKLE reward structure on their farms.
The Visionaries Behind Pickle Finance: Meet the Founders
Pickle Finance was established by a quartet of pseudonymous developers, with a prominent figure known as “Larry the Cucumber” – a nod to the beloved character from the popular religious cartoon series Veggie Tales. Notably, one of the founding members, “Rick,” parted ways with the project in its early stages, while the remaining two developers, “0xPenguin” and “BigBrainBriner,” relinquished their involvement in December 2020.
Larry the Cucumber boasts a rich background in web development and Android mobile app development. His inaugural foray into the realm of cryptocurrency dates back to 2015, courtesy of an introduction to Ethereum by his acquaintance BigBrainBriner. This sparked a fascination with developing projects rooted in Solidity. The resounding success of the Maker Protocol subsequently opened his eyes to the vast potential of decentralized finance.
Through thick and thin, Larry has remained steadfast in his commitment to the protocol, continually devising innovative strategies and expanding its reach. The core team has since grown to comprise numerous dedicated members, all driven by a shared vision of establishing Pickle Finance as a preeminent DeFi protocol.
What Is the Circulating Supply of Pickle Finance (PICKLE) Coins?
Pickle Finance boasts an uncapped token supply, with new PICKLE tokens being minted in tandem with each Ethereum block, adhering to a rapidly diminishing pattern, currently yielding 0.05 PICKLE per block according to the emissions schedule.
The project boasts a unique characteristic in that it neither premined tokens nor conducted an initial coin offering, and, notably, it did not receive any venture capital investment.
In December 2020, Pickle Finance unveiled plans to launch its innovative “Smart Treasury”, a cutting-edge system designed to automatically repurchase PICKLE tokens using revenue generated from fees, provide liquidity, and accrue trading fees, while also issuing PICKLE tokens for various purposes, including grants.
The Security Architecture of the Pickle Finance Network
Pickle Finance leverages an ERC-20 token, which entails that PICKLE transactions are secured and validated by the Ethereum blockchain. Notably, Ethereum employs a proof-of-work consensus algorithm, wherein miners engage in a competitive process to add new blocks to the blockchain, and a majority of nodes within the network must collectively validate a record for it to be officially posted.
Pickle Finance’s strategies underwent rigorous auditing by esteemed blockchain security firm MixBites, while the entire protocol was scrutinized by Haechi Audit, yielding no major security vulnerabilities. However, in November 2020, Pickle Finance fell victim to a devastating hack, resulting in the theft of nearly 20 million DAI. Haechi Audit subsequently clarified that the attack exploited a newly created smart contract, distinct from those previously audited by the firm.
Acquiring Pickle Finance (PICKLE): A Comprehensive Guide to Exchanges and Marketplaces
PICKLE is predominantly traded on Uniswap (V2), with additional listings on MXC.COM, Bilaxy, Hoo, and other prominent exchanges. It can be paired with a range of digital assets, including Ether (ETH), Wrapped Ether (WETH), Aave (AAVE), and Tether (USDT) for trading purposes.
Are you intrigued by the prospect of investing in PICKLE or other prominent cryptocurrencies like Bitcoin (BTC)? CoinMarketCap offers a comprehensive, easy-to-follow guide that will walk you through the world of crypto and facilitate your first foray into coin purchasing.
Associated Resources:
Delve into yearn.finance, a prominent yield farming protocol, with which Pickle Finance has formed a strategic integration partnership.
Discover Ethereum Yield, a cutting-edge yield farming protocol that employs a sophisticated price-pumping strategy to maximize returns.
Delve into the world of yield farming with an exhaustive guide on Alexandria, CoinMarketCap’s premier online educational platform.
Remain abreast of the latest advancements and trends in the burgeoning DeFi landscape with the CoinMarketCap blog, your premier source for insightful updates and expert analysis.