Anyone keeping an eye on the decentralized finance sector will know DeFi’s popularity is still growing. However, the premise of Pickle Finance was that Pickle Finance’s founders noticed that farming yield hasn’t gotten any easier. They saw lots of protocols offering generous returns but found it difficult to assess which ones were sustainable and trustworthy. With all the fly-by-night “exit scams”, “rug pulls”, and straight-up hacks, they knew it was hard for newcomers to figure out which platforms they could trust.

With that in mind, Pickle Finance wanted to create a yield-generating DeFi protocol that earned top yields for its users, but also one that was simple to use. As such, the beginnings of the on-chain asset management protocol Pickle.Finance, commonly known as Pickle Finance, was born.

So, understanding Pickle Finance requires us to first take a look at Pickle Finance’s product offering. These are the essential products that make up the Pickle Finance suite:

PickleJars is where the Pickle yield farming robots go to work to earn returns on user deposits. Learn more about PickleJars here.

This is the place to earn PICKLE tokens in the liquidity mining pools. Learn more about PickleFarm here.

PickleStake is where users go to earn WETH by staking PICKLE tokens. Go here when you’re ready to stake Pickle and stack WETH. However, for trading PICKLE tokens, the best place is Uniswap.

Pickle determines the distributed WETH rewards weekly. And they go to stakers based on the income generated by Pickle Finance but only after it exceeds the $500K Treasury cap.

PickleSwap is where users go to swap from one PickleJar to another.

Also, once you’ve received pTokens for depositing assets in the pJars, you can stake them in the Farms and receive PICKLE token rewards. Just visit the PickleFarms page and select the Farm with the same pToken you already own. From there, choose the amount you wish to stake and click “Stake”.

There is no cap on the supply of PICKLE tokens, and the PickleFarms are there for you to farm PICKLE rewards. Different Farms require different tokens, but the PICKLE/ETH 50:50 Uniswap pool is the primary liquidity source for PICKLE tokens.

Liquidity providers in the Uniswap pool receive 70% of the PICKLE token emissions. This percentage can be changed in the future by governance, but for now, this is the power pool.

To farm PICKLE tokens in this pool, you have to supply liquidity to the PICKLE/ETH pool, which means delivering both PICKLE and ETH tokens to Uniswap. The other farming pools require staking pTokens. You can obtain these tokens by depositing funds to a pJar.

I have not invested in this DeFi project but am exploring the options of doing so. I love DeFi and the whole staking and farming monster. Please DYOR.

Source:

MMA_Crypto