Fantom of the Pickle 👻

Hand painted Fantom Fennec NFT

Pickle Finance launches on Fantom!

Today we’re excited to launch 43 new Jars on Fantom from popular protocols SpookySwap, LiquidDriver and Beethoven.

Fantom is one of our most requested chains and there’s certainly been a lot going on over there recently, with Andre Cronje’s Solidly launching recently and creating a TVL rush. We felt like we were missing the Fantom party.

Our Jars on Fantom will have a 4.20% performance fee, meaning that 95.8% of your yield is auto-compounded for you, ensuring you maximize returns.

As always there are no deposit or withdrawal fees.

PLUS, deposit (min $50) into one of these Fantom Jars to be in the running to win a Fantom Fennec NFT — the same hand painted art piece at the top of this article.

In a couple of weeks we’ll snapshot positions and airdrop 20 NFTs to users of each project’s Jars! So Spooky x 20, Liquid x 20, Beethhoven x20 … plus 20x any other protocols we manage to launch in that time.

Fantom Starting Jar Roster

Our starting Jar roster includes 42 Jars for various LP positions, from stables though to higher APY pool2 token pairs.

Our plan is continue expanding our Fantom Jars beyond this initial release, building on innovative protocols like Solidly, SpiritSwap and SoliDex — watch this space!

A selection of our Fantom Jars

The benefits of using Pickle Finance on Fantom

Why choose Pickle Finance to help maximize your yields on Fantom?

Low, transparent fees — just 4.20% performance fee (taken on yield processed) and 0% deposit/withdrawal ensures you always leave with the same or more LP than you started with! Plus our APYs are displayed net of fee so you know exactly what you’ll get when you use Pickle.

Saves time — to auto-compound an LP position takes at least 5 transactions (more for the first, which includes approvals). With a hardware wallet (which we’d recommend everyone utilize), that’s a lot of clicks! Most users end up not doing this manually every day, missing out on yield.

Saves gas — Fantom is cheaper than Ethereum for gas fees, but not free! Pickle’s auto-compounding Jars will save significant amounts of gas fees over a reasonable period, compared to completing manually.

Compounding an LP position helps continuously ‘rebalance’ your position — if the value of the pair becomes imbalanced, regularly compounding effectively helps you to ‘buy the dip’ if a token falls in price or vice-versa if it gains.

And of course, compounding positions can create huge gains in value compared to a static APR. Through the power of auto-compounding you are almost guaranteed to outperform managing your own position, unless you have a lot of time on your hands. Pickle automates that so you can spend more doing things you enjoy, while we maximize your yield returns.

Pickle’s fee structure

Pickle places emphasis on transparency and simplicity when it comes to fees. The fees aren’t hidden away (no need to hunt in our docs), they aren’t unspecific (no ranges or use of such terms as “usually”), and they are not multi-level (with confusing terms like ‘controller fee’ )!

They are the same across all Jars on a given chain — in the case of Fantom the fees are:

0% deposit fee
0% withdrawal fee
4.20% performance fee

Performance fees are taken only on the yield processed, ie the profit. So you always end up with more LP tokens than you deposit!

How to get started

Fantom is like other EVM compatible chains, connecting directly to your wallet of choice. Make sure you add the Fantom RPC to your wallet, which can be found here

The easiest way to bridge to Fantom is through Multichain. From Ethereum you’ll need to pay a transaction fee, but remember once your funds are there your transactions will be much cheaper than on mainnet!

Then you can just continue to use Metamask/Rabby and transact away, just as you do on other chains.

Degen, responsibly 💚

Fantom resources: Website Twitter Discord
Pickle resources: Website Twitter Discord Telegram

--

--

--

http://pickle.finance/

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

A Comment on the Latest Bulletin from The Ivy Project (‘Ivy’)

Biweekly Market Report (2019/12/30 ~ 2020/01/13)

EcoCREDIT

LYOPAY Company Meetup: What happened at the First Online Meet with the Team

Why do a Token Crowdsale?

Binance Review 2021: The best in Switzerland?

ONI Listed On CoinMarketCap

Welcome to Magnificent Crypto!

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Pickle Finance

Pickle Finance

http://pickle.finance/

More from Medium

Morpheus Swap: Solidly Plans

Impermax Launches Leveraged Yield Farming for Solidly on Fantom

Solidly’s DeFi Frenzy

Luxor Money Warm-Up Staking