Pickle Finance launches on Aurora!

Pickle Finance
5 min readDec 18, 2021
Pickle <> Aurora NFT

Pickle Finance’s multi-chain mission continues with the addition of Aurora!

The expansion continues — this time we are proud to have worked with the Aurora team to be one of the first protocols to launch on this exciting new Ethereum-compatible chain.

This announcement was actually front-run by the eagle-eyed Alex:

And DefiLlama!

But in this case, we don’t mind a little frontrunning 💚

So what is Aurora?

“Aurora is an Ethereum Virtual Machine created by the team at the NEAR Protocol, delivering a turn-key solution for developers to operate their apps on an Ethereum-compatible, high-throughput, scalable and future-safe platform, with low transaction costs for their users.”

Aurora has several benefits as a chain, as outlined on their website:

DefiLlama is currently tracking Aurora at just over $200m TVL and growing, making it a serious contender already - mere weeks since launch.

Pickle <> Aurora launch incentives!

To celebrate our launch on Aurora, we’re adding some crunchy incentives, which we’ll airdrop directly to some lucky Jar users.

At some point over the coming 3 weeks (exact date unspecified to prevent users gaming the drop), we’ll airdrop the following to randomly chosen users who have a non-trivial (min $50) deposit in one or more of the Aurora Jars:

  1. Firstly, the amazing NFT (shown at the beginning of this article) designed by fennec will be airdropped to 25 users . You can see more of fennec’s NFTs on the official Pickle Finance NFT collection!
  2. Secondly, 5 users will receive an airdrop of 10x AURORA (value at time of writing $106.1 each, $1,06 total)
  3. Thirdly, 5 users will receive an airdrop of 10x NEAR (value at time of writing $83.9 each, $839 total)

*users may win more than one of the three prizes available

Aurora starting Jar roster

The Pickle development team have been in overdrive for this one … and we have 25 new Aurora Jars active at launch, taking Pickle’s full Jar roster to 105:

Number of Jars by chain as of December 18th 2021

We have developed Jars from 3 Aurora based protocols:

  1. Trisolaris — DEX
  2. WannaSwap — DEX
  3. NearPad — Launchpad & DEX

The Jars cover a wide range of LP opportunities:

  1. Aurora 1a TriNearUsdc
  2. Aurora 1b TriEthNear
  3. Aurora 1c TriBtcNear
  4. Aurora 1d TriNearUsdt
  5. Aurora 1e TriTriNear
  6. Aurora 1f TriUsdcUsdt
  7. Aurora 1f TriTriAurora
  8. Aurora 1g TriAuroraEth
  9. Aurora 2a NearNearBtc
  10. Aurora 2b NearPadUsdt
  11. Aurora 2c NearPadUsdc
  12. Aurora 2d NearPadEth
  13. Aurora 2e NearPadNear
  14. Aurora 2f NearPadFrax
  15. Aurora 3a WannaWannaNear
  16. Aurora 3b WannaAuroraNear
  17. Aurora 3c WannaEthBtc
  18. Aurora 3d WannaNearBtc
  19. Aurora 3e WannaNearDai
  20. Aurora 3d WannaNearEth
  21. Aurora 3e WannaUsdcNear
  22. Aurora 3f WannaUsdtUsdc
  23. Aurora 3g WannaUsdtNear
  24. Aurora 3h WannaWannaUsdc
  25. Aurora 3i WannaUsdtWanna

The benefits of using Pickle Finance

So why use Pickle Finance instead of depositing directly into the protocol farms?

  1. 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 utilizes), that’s a lot of clicks!
  2. Saves gas — okay so Aurora is fairly unique in that gas is currently free. Yes, $0 per transaction! But that may not always be the case …
  3. Compounding an LP position also 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.
  4. 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.
  5. And of course, Pickle is tried and trusted with over 15 months of experience. Your funds are precious so trust them to a protocol with a strong reputation.

Pickle’s Aurora 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 Aurora the fees are:

  • 0% deposit fee
  • 0% withdrawal fee
  • 10% performance fee

No deposit fees, no withdrawal fees, and performance fees are taken from the yield collected — so you only ever gain in your Jar position. The APYs shown on the site are what you get as they are already net of fees.

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

If you haven’t used a non-Ethereum chain yet, it can be a little daunting to think about sending funds into a ‘black hole’ in the hope they come out again on the other side! Thankfully, with Aurora being fully EVM it isn’t too complicated.

Use the awesome Rainbow Bridge app to bridge some funds over. From Ethereum you’ll need to pay a transaction fee, but remember once your funds are there your transactions are currently free!

Aurora resources: Website Twitter Discord Telegram

Pickle resources: Website Twitter Discord Telegram