Learn Pickle Finance (PICKLE)? Overview of the Pickle Finance project

What is Pickle Finance (PICKLE)?

Pickle finances is a decentralized protocol designed to use agricultural, vaulting, and governance incentives to bring stablecoins closer to the value of the coins they are tied to.

How does Pickle Finance work?

Pickle Finance has 2 main functions:

Pickle jars

With Pickle Jars, users can deposit tokens into pools of liquidity such as Uniswap or Curve and then implement strategies to maximize depository returns.

For example, 0.69 Jars automatically collects Uniswap UNI tokens that are distributed to Uniswap liquidity providers, sells the resulting UNI tokens, and buys additional Uniswap LP tokens on behalf of users. If a user is a “normal” liquidity provider on Uniswap and plugs LP tokens into Uniswap, the user will have to go through the process manually: wait a few weeks for UNI tokens to accumulate. Pickle automates this process and distributes the gas costs evenly among all users, which results in significant economies of scale.

Note that users are short selling UNIs when attending the Pickle because they are selling them to increase their ETH – DAI / USDC / USDT. If users want to own UNI tokens, this is not the right strategy.

Cucumber farms

Farms allows users to farm PICKLE token rewards based on staking different assets.

Each farming pool needs a different token to participate in staking.

The first Farmin pool is the Pickle Power Pool, which requires staking Uniswap PICKLE / ETH LP tokens.

The rest of the farming pools require staking the pTokens obtained by depositing assets in pickle jars.

Basic information about the PICKLE token

• Token name: Pickle Finance
• ticker: VINEGAR CUCUMBER
• Blockchain: Ether
• Token standard: ERC-20
• contract: 0x429881672b9ae42b8eba0e26cd9c73711b891ca5
• Token type: Usefulness
• Total offer: 1,464,765 pickle
• Circulation supply: 953.186 pickle

Token assignment

Unlike other wealth management protocols like yearn.finance (Yearn.Finances YFI token has a fixed supply), Pickle has an inflationary supply. As you can see from the delivery schedule, most of the PICKLE tokens (1.3 million) will be distributed, after which there will be constant inflation of 1.29% per year.

This means that Pickle has an effective mechanism in place to encourage behaviors that the project considers important. Currently, 70% of the new PICKLE tokens are distributed to PICKLE-ETH liquidity providers on Uniswap to create high liquidity and 30% are used to incentivize jars.

What is the PICKLE token used for?

• Administration.
• Mark out.
• Stake out rewards.

PICKLE token storage wallet

PICKLE is an ERC20 token, so you have plenty of wallet options to hold this token. You can choose from the following wallets:

• Floor purse
• Popular ETH wallets: Metamask, Myetherwallet, Mycrypto, Coin98 Wallet
• Cold wallets: Ledger, Trezor

How to earn and own PICKLE tokens

• Provide PICKLE-ETH pair liquidity to receive PICKLE token rewards.
• Buy directly on exchanges.

Where can I buy and sell PICKLE tokens?

PICKLE is currently traded on many different exchanges with a total daily trading volume of approximately USD 5.3 million. The exchanges listing this token include: Uniswap, OKEX, Sushiswap, MXC, Gate.io …

What is the future of the Pickle Finance project, should I invest in PICKLE tokens or not?

General Pickle finances is a profit aggregator that helps to bring stable coins back to their bound value. Through this article, you must have some understanding of the basic information about the project in order to make your own investment decisions. CoinCu is not responsible for your investment decisions. I wish you every success and a lot of profit from this potential market.