Creating a Frax Flywheel with Pickle Finance
Pickle Finance launches Frax Brinery and 2 FRAX UniV3 Strategies
Pickle Finance is always looking for opportunities to partner with top flight protocols and provide its users unparalleled access to high yields.
Today we start our journey with Frax, creating our flywheel inducing Frax Brinery and UniV3 Jar strategies. With this first entry into the Frax ecosystem, we will be able to build increasingly innovative yield opportunities for our users and the DeFi community.
This release includes our:
Frax Brinery
FRAX/DAI UniV3 LP Jar
FRAX/USDC UniV3 LP Jar
The Benefits of our Frax Brinery and UniV3 Jar Strategies
Our Brinery backscratcher takes advantage of the flywheel effects of locking FXS for veFXS and allows users to easily enter and exit the FRAX veFXS vaults with our redeemable pveFXS, earning higher FXS rewards than if they’d staked themselves.
Furthermore, 10% of the FXS Rewards from the UniV3 FRAX/USDC and FRAX/DAI Jars will be directed to those that locked pveFXS in the Brinery.
Users also save gas as we continuously extend the veFXS lock and the pooled nature of the jar means everyone in the jar shares the boosted FXS on our UniV3 Jars.
How to use our Frax Brinery and Univ3 Jars
Frax Brinery
- Purchase FXS tokens
- Enter our FXS Brinery with two transactions (approval and deposit)
- Claim your FXS rewards as frequently as you would like
UniV3 Jars
- Deposit FRAX, DAI or USDC into the UniV3 Jars in any proportion
- You will earn reward fees in the underlying asset types you choose.
- Sit back and relax while Pickle Finance compounds the fees earned for you, keeps you in range to earn the highest fees AND receive PICKLE rewards on top as an added bonus! Plus our Jars will have their yields boosted by the locked FXS in the Brinery.
Where to from here
The creation of this Brinery backscratcher means that we can continue to build out yield opportunities in the Frax ecosystem with more UniV3 Jars.
All of this creates a perpetual FRAX yield machine that builds in value as more and more users enter the ecosystem.
What is Pickle Finance
Pickle Finance is a yield aggregator that maximizes yield on behalf of users. Users realize the power of compounding, while saving time and money compared to manual yield farming.
Pickle places emphasis on transparency and simplicity when it comes to fees. For our Frax Brinery these are:
0% deposit fee
0% withdrawal fee
20% performance fee
