Pickles? Finance? Find out what the hype is about!

What is Pickle?

Pickle is an experimental protocol using farming rewards, vaults, and governance to put stable coins closer to their pegs.

Abstract

To bring stable coins closer to their pegs, the Pickle protocol uses farming rewards, vaults, and governance. By distributing PICKLEs to Uniswap LPs of different stable coin pools, capital movement between stable coins is encouraged. Pickle Vaults, will use various active strategies to produce returns for pVault owners and the protocol, including leveraged flash loans to short off-peg stable coins.

Why does Pickle exist?

Due to varying market conditions and monetary policy restrictions, Stable coins have often gone off peg. This problem has only been compounded by the recent boom in yield farming as farmers purchase and sell vast quantities of stable coins to find the best yield.
A much more stable stable coin ecosystem is needed for the DeFi ecosystem to flourish.