Yield Aggregators exist for yield farmers (like you) who want to invest money and maximize profits by leveraging different DeFi protocols and strategies for elevated returns. Pickle Finance makes it easy for you to earn great compounding yields on your deposits, when you don’t have the time to compound it daily or the gas fee is too high for frequent compounding to be done. In short, Pickle Finance is always on the lookout for opportunities to generate yield on your assets for all risk tolerance levels.
How Does it Work?
- Pickle Finance has Jars, and Farms
- Jars compound your returns from other protocols for you.
- Farms provide you extra rewards for staking your jar token
There are a constantly evolving series of opportunities for yield farming across the DeFi ecosystem. Pickle Finance provides a tailored selection of Pickle Jars and Pickle Farms that have been custom-built to earn yield from specific assets and through specific DeFi protocols.
Pickle Jars
Jars are the Pickle equivalent of yearn.finance’s vaults. A jar receives a specific asset (usually an LP token), such as sLP ALCX/ETH (Liquidity provider token for the ALCX/ETH pair on SushiSwap) and utilizes a strategy developed by the Pickle Finance team to earn yield on that asset. Your asset will auto-compound to earn more of itself, meaning your holdings of that asset will only increase. However, jars don’t prevent your asset from losing value relative to USD.
Pickle Farms
Farms are the “next step” after putting an asset into a jar. When you deposit an asset into a jar, such as sLP ALCX/ETH, you will receive a number of pTokens (in this example, pSLP ALCX/ETH) that represent your share of the tokens in the Jar. These pTokens can then be staked in the appropriate farm to earn additional PICKLE rewards on top of your existing rewards. Your PICKLE rewards can be boosted by locking existing PICKLE tokens for DILL for up to four years. Learn more about Pickle Farms here.
Why use Pickle Finance?
- Pickle Finance allows you to set it and forget it
- Pickle Finance may be tax-efficient when used long term
- Pickle Finance is gas efficient
- Boosts for farm rewards are available if you lock PICKLE for DILL
While there are a few yield aggregators out in the market to choose from, Pickle Finance is uniquely positioned within the Yearn ecosystem to scout the most promising protocols, build partnerships, and bring those opportunities to our users. The development team continues to push the envelope, crafting some unique and exciting strategies to complement the proven and battle-tested options already in the marketplace.
Pickle Finance also offers you several benefits. First, you don’t need to compound your returns manually. In times of high gas costs, this can be either cost or time prohibitive, so you won’t have to wake up at weird hours of the night to get acceptable gas fees. In periods of low gas costs, however, yields throughout the DeFi ecosystem also tend to fall, leaving Pickle Finance as a viable and gas efficient alternative no matter what phase the market is currently in.
Pickle Finance also offers you a ‘set-it-and-forget-it’ convenience. You can trust that your returns are being compounded for you in the background.
Finally, in some tax jurisdictions, blockchain tax analysis reports will mark any harvesting of a reward token as a taxable event. Since the pickle jar is doing the harvesting and compounding for you, these events are likely to not be taxable until you withdraw from the jar. (Do your own research if this analysis matches that of your tax jurisdiction.)
These benefits should be enough for most people, but Pickle also offers farming rewards which can juice your returns substantially as well.
The Pickle DAO
Pickle is governed by a DAO (Decentralized Autonomous Organization). Holders of “DILL”, a representation of a PICKLE token that has been time-locked on the platform for a set duration, receive voting rights to make changes to the protocol, emissions, and more. No single person is in charge. We’re all in this together.
