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Pickle Finance is a decentralized finance yield farming protocol built on the Ethereum blockchain. It was launched with the intention of helping to stabilize the one-to-one peg of stablecoins — such as Dai (DAI), Tether (USDT), USD Coin (USDC) and sUSD (SUSD) — by incentivizing participants to sell above-peg stablecoins and purchase below-peg ones.
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 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.
After 0xPenguin and BigBrainBriner left the project, another pseudonymous developer, "0xkoffee77," was brought on. 0xkoffee77 is a full-stack blockchain developer who had three years of previous experience in the cryptosphere.
According to its "PicoPaper," Pickle Finance is distinct from other yield farming projects because it offers a service to the community — the ability to stabilize stablecoin pegs, although the project has since expanded beyond this function — while other projects "don’t actually do anything."
The project uses an incentive mechanism to help maintain the pegs, giving rewards in the form of PICKLE to those who provide liquidity to its stablecoin-Ether (ETH) pools. The incentive mechanism provides higher rewards for participating in a pool for an under-pegged stablecoin. Users can also send tokens to "PickleJars," or pJars — vaults that use alpha-seeking strategies to generate returns that are returned to the pool, causing the total value of the deposit to increase.
The Pickle Jar development team has sought to spread awareness of the project through community outreach, including hosting a "Pickle Community Creative Challenge" in which prizes were given to participants for the best pickle-related creative pieces, such as drawings or music. In November 2020, it announced that it would be joining with yearn.finance in an agreement under which its pJars will be integrated into yearn.finance's yVaults, with the Pickle Finance development team receiving a 10% performance fee for writing strategies.
Learn about yearn.finance, another yield farming protocol, with which Pickle Finance has agreed to integrate.
Learn about Ethereum Yield, a yield farming protocol with a price-pumping strategy.
Want to learn more about yield farming? Read an in-depth guide on Alexandria, CoinMarketCap's online educational resource.
Stay up to date on the latest developments in the DeFi sector with the CoinMarketCap blog.
Pickle Finance does not have a maximum token supply. New PICKLE is minted with each Ethereum block in a rapidly decreasing pattern, with 1 PICKLE per block minted with each block after four weeks.
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.
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.
|Pickle Finance मूल्य||$10.60|
|24h Low / 24h High|
|Market Dominance||कोई आकड़ा उपलब्ध नहीं है|
|मार्केट कैप||कोई आकड़ा उपलब्ध नहीं है|
|Fully Diluted Market Cap||$728,018.82|
|Yesterday's Low / High|
|कल का खुला/बंद|
|कल का बदलाव|
|कल का आयतन||$863,105.69|
|7d Low / 7d High|
|30d Low / 30d High|
|90d Low / 90d High|
|52 Week Low / 52 Week High|
सबसे उच्च स्तर पर
Sep 16, 2020 (4 months ago)
सबसे कम स्तर पर
Sep 12, 2020 (4 months ago)
|Pickle Finance ROI|
|परिचालित आपूर्ति||कोई आकड़ा उपलब्ध नहीं है|
|कुल आपूर्ति||68,676 PICKLE|
|कुल आपूर्ति||68,675 PICKLE|