Disclosure: Pickle is currently on our radar, so we wanted to share this note with all our members. Pickle is an early-stage project with numerous risks (financial, technical, competitive). These risks are described in more detail at the end of this note but should be fully understood by readers. A few members of our team own Pickle or are farming it. At this time, Delphi Ventures does not hold Pickle (and is not farming it).
Pickle is a new protocol with the basic goal of using farming incentives and strategies to bring stablecoins back to their pegs. This strategy is cycle agnostic and can generate alpha in DeFi bull or bear markets and its overall goal has substance vs the majority of flash in the pan yield farming food tokens. We believe Pickle will quickly expand beyond stablecoins to stabilizing/arbing 1-1 assets (variations of Bitcoin) and place the majority of its focus on the creation of active strategies (pJars).