New decentralized finance (DeFi) crypto is capturing the attention of global investors after recording a surge of over 1,633% in only four days.
Pickle Finance (PICKLE) is the latest digital token to surge, exploding from a low of $4.41 on September 12th to a high of $72 on September 16th at the time this report was drafted, according to CoinGecko.
It has a circulating supply of 0 coins and a max supply of 358 Thousand coins.
Pickle brings the four largest stablecoins (DAI, USDC, USDT, sUSD) closer to their peg by using the power of farming and pVault
What you should know; The Pickle protocol uses farming incentives, vaults, and governance to bring stablecoins closer to their pegs.
By distributing PICKLEs to Uniswap LPs of different stablecoin pools, capital movement between stablecoins is encouraged. pVaults, short for Pickle Vaults, will utilize different active strategies including leveraged flash loans to short off-peg stablecoins, to generate returns for pVault owners and the protocol.
PICKLE is also used for governance to control the monetary policy of the system.