Pickle Finance uses agricultural incentives, storage and governance to bring stablecoins closer to their pegs. By distributing PICKLEs between Uniswap LPs of different stablecoin pools, capital flows between stablecoins are encouraged. pVaults, short for Pickle Vaults, will employ a variety of proactive strategies, including leveraged flash loans for short off-peg stablecoins, to generate profits for pVault and protocol holders.
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Pickle Finance project description
The Pickle Finance project works like other popular DeFi protocols that reward users, who provide liquidity with high interest and additional token rewards. The difference is that this project aims to ensure the price stability of coins through incentives for farming, storage and management.
Thus, more rewards are given to lower pegged stablecoins, which encourages users to buy and wager. PickleFinance has also rolled out a new “pJar”. It introduces a way to stake $PICKLE and profit from the arbitrage opportunities of flash credits on stablecoins trading off-peg.
According to the team, the pJar code is not audited and most of the implementation is taken from yVaults Yearn Finance. This is how it works:
| Firstly | LPs deposits the asset in pJar and receives pAsset. |
| Secondly | Asset unfolds into Alpha Search Strategy for Profit. |
| Thirdly | The profitability comes back to the pool, causing the asset value to rise and also supporting the management and owners of PICKLE through fees. |
New DeFi Pickle Finance TVL protocol exceeds $ 347M in 4 days. PICKLE Holders have the right to determine the future of the protocol. A dedicated governance forum will work to ensure decentralized public oversight. The governance process works when users vote with their PICKLEs.
Additional information
At the moment, the site does not have White Paper and RoadMap. Instead, the developers maintain a blog that will publish articles, related to the development of the project. Also, the community maintains social networks:
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