It’s been a crazy first week at Pickle Finance.
Given the rapid growth of our community, we want to take a chance to reflect on how far we’ve come as a community and share what we have in store for Pickle Finance in the coming weeks.
📆 Week 1 Retro
Community is the lifeblood of any DeFi project. We’re incredibly humbled by how quickly the Pickle Community grew from 0 to 3500 members on Discord, 3800 followers on Twitter, and 1500 members on Telegram in only a week. Thank you for supporting us!
Our passive stablecoin stabilization farm experiment grew from $20M TVL on day 0 to $350M+ TVL at its peak.
This week we launched our first active strategy with the PickleJars. For those of you just joining us, each Jar employs a different strategy to seek alpha for LPs.
4 Jars have been deployed so far:
- pJar 0: The sCRV Jar, which farms CRV.
- pJar 0.69a, b, & c: The UNI Jars, which farms UNI
Within 3 days, we already have $10M locked in our Jars.
Lastly, we launched Pickle Swap, a 1-click experience for our users to swap from one LP pool to another. Within just a few days, we’ve seen 219 swaps.
DAI Returns to Peg — ish
The price of DAI went from $1.05 to $1.01. Although we can’t say definitively this was because of Pickle, we would like to think our experiments contributed to bringing stablecoins back to peg.
🗺 Week 2–4 Roadmap
Looking forward, we at Pickle Finance have lots more in store to further our mission of rapid stablecoin experiments. We will be placing heavier emphasis on active strategies (pJars) and improving user experience.
Given the novelty of some of the features on our roadmap, our release velocity will be slower compared to week 1. This will give us more time to round out edge cases, and write more tests.
A brand new active strategy, pJar 1.0 The Leveraged-Short DAI pJar, will be launching in the coming weeks. Stay tuned.
PICKLE rewards for pJars 0, 0.69a, 0.69b, and 0.69c. PICKLE rewards will be rolled out to the pJars such that LPs can earn PICKLEs on top of their return.
We’ll be rolling out a Discourse forum in the near future. We understand that Discord channels might not be the best place to examine complex ideas, and longer form discussions are necessary to help chart the best course for Pickle Finance. Discourse and Snapshot.pages will soon be the new home to all things governance for Pickle Finance.
💬 Final note
We’re really excited about the future of Pickle Finance, and we’re so glad you’re with us on this journey.
As a reminder, PICKLEs have no intrinsic value. Pickle Finance is still an experiment with no audits. Please do not put more money into Pickle than you’re willing to lose.
Contributors to Pickle have made reasonable efforts at ensuring the integrity of the protocol including tests. Pickle is completely valueless and has 0 financial value. Anyone who chooses to engage with these contracts, including the Pickle token contract and the staking contracts, are doing so at their own risk. You should perform your own due diligence.