The big event for this week was of course the much anticipated launch of Pickle Finance onto Polygon, supported by the Polygon team with a generous contribution of MATIC rewards.
This was a huge focus for much of the Pickle team over recent weeks and a huge amount of work went into it, so it felt great to release and see the buzz from both the Pickle community and beyond. We’re already seeing many newcomers discovering Pickle for the first time, which is awesome to see.
Read more about it here: https://picklefinance.medium.com/pickle-finance-launches-on-polygon-f544cf65a7d8
There has been a lot of work going on in the background developing the new Pickle website, both a new landing page and a new app design — which we have decided to build from the ground up rather than reskinning the current app. Which will take a little longer, but allow us to optimize with future growth in mind (plus we know the current app can have its moments … ).
One of the anticipated enhancements nearing completion is the fusing of our Jars and Farms into one interface plus the addition of Zaps, allowing easy deposits of single assets directly through the Pickle app ⚡
We have three new Jar flavours in the plans for this week!
- Alchemix alETH on Saddle Finance — using the base alUSD strategy which was developed and thoroughly tested, we have for now switched attention to the new alETH liquidity over on Saddle Finance. Final development and testing is underway in order to launch the alETH Jar this week.
- Curve tricrypto — A pool that combines the three giants of crypto, USDT, BTC and ETH, we will aim to capture a share of the growing TVL heading to this combo.
- (Jars 3–7) Kyber Rainmaker LM program — Kyber is a project that has been around for some time, connecting liquidity in order to power instant and secure exchange of tokens. In order to incentivize liquidity on DMM — Kyber’s Dynamic Market Marker Protocol — they are allocating $25million worth of rewards over the coming two months to five pools on Ethereum and $5.5m worth of rewards to six pools on Polygon. This week we’ll be focusing on getting the five Ethereum based Jars up and running:
- Kyber USDT-USDC
- Kyber WBTC-ETH
As soon as these five Ethereum based Jars are up and running, we’ll switch attention to adding the six Polygon Jars!
In the shadows …
As always there is also time being spent in the ‘background’ researching new strategies and protocol improvements. This week those include:
- A multi-strategy stablecoin Jar
- Uniswap v3 based Jars
- Collaboration with another project to deliver even better Liquity options
- Exploring collaboration opportunities in our new Polygon universe
- Discussion about rewarding those in the Pickle Community who contribute to its success
- Working with our resident artist Fennec, who creates all of our amazing graphics, on a new Pickle-NFT project …
~ Ciao for niao, Picklers