Pickle Finance is a yield aggregator. It compounds liquidity pool rewards across various chains, leveraging the power of compounding interest in an optimal way, automatically.

Pickle auto-compounds yields, continuously. Its strategies involve spotting upside opportunities, accumulating rewards, and then reinvesting those rewards to earn more from the underlying asset of the strategy, as Messari explained.

At the core of Pickle is its “Jars” which compound returns from other protocols. Pickle’s “Farms” provide PICKLE rewards for staking jar-issued tokens.

The Pickle Protocol has a dual-token model. It’s governed by DILL holders. DILL tokens are created when users stake PICKLE.

PICKLE is used to pay rewards to liquidity-providing users of Pickle farms

Pickle gives users the convenience of a “set and forget” functionality that is both gas and time-efficient, according to Messari.

When was PICKLE created and how much was it worth?

Pickle was created in September of 2020 by four anonymous developers. It was born at the height of the “DeFi summer” and the stablecoin market seemed brimming with inefficiencies on which to capitalize although harmonization of above/below peg stablecoins has since taken a backseat to yield-generating strategies. The platform launched on Ethereum. Eventually, it expanded to include Polygon, Arbitrum, Moonriver and Aurora.

Around the time of the project’s launch, the PICKLE token soared to an all-time high of $85. It has since declined to below $2 as of early September 2022.

How is the price of PICKLE determined?

PICKLE, one of two native tokens of Pickle Finance, has an inflationary supply. This is in contrast to an approach taken by other yield aggregation platforms with their fixed token supplies.

The bulk of PICKLE tokens (1.3 million) have been distributed. Inflation runs at about 1.29% per year. In the summer of 2020, hype and enthusiasm were the drivers of price as the loftiest heights of PICKLE value happened within a few weeks. Over longer-term, total value locked (TVL) metrics will help drive price action, provided the user base (currently 6,000 with TVL of $12 million) experiences sustainable growth.

Why does PICKLE have value?

PICKLE tokens power the protocol's governance and rewards.

Roughly two-thirds of new PICKLE tokens are distributed to PICKLE-ETH LPs; the remaining one-third of newly minted tokens is allocated to Jar incentives.

Pickle tokens can be used to vote on governance proposals and to stake.

Staked PICKLE tokens earn a share of Pickle Jar profits. Pickle jars profit by taking a cut of users’ performance. Staking rewards are paid in ETH.

Is PICKLE secure?

Pickle insists it prioritizes user funds over speed. "Built on audited foundations," Pickle says. Messari research confirms smart contract audits. The team, while anonymous, has been transparent about its governance decisions.

What are the main benefits of PICKLE?

User deposits earn compounding yields in a simplified, automatic way, saving time and money. It gives users the convenience of a “set and forget” functionality that is both gas and time-efficient, Messari said.

Pickle generates real cash flows which PICKLE holders can capture by staking, per Cryptotesters.

Pickle Finance is built upon solid foundations that have been audited and are battle-tested, Slashdot said. Safety of user funds is always more important than speed, Slashdot added.

What do critics say about PICKLE?

 That the team is anonymous; and that user funds are controlled by a team-heavy, multi-signature wallet.