It seems that the decentralized finance train does not intend to stop, at least for the time being, as projects appear from time to time in this young field that achieve very high returns, the latest of which is the “PICKLE” coin of the “Pickle Finance” project, which was able to record an increase of 1633% within a period of time. Only four days.

Where the digital currency “PICKLE” rose from $ 4.41 on September 12 to $ 72 on September 16, and to go down again today to $ 25 according to “Queen Gekko“.

This cryptocurrency gained traction due to the unique use case of the voting feature, which was praised by Vitalik Buterin, the founder of Ethereum.

Read:Reasons that could keep the price of Ethereum above the $3000 level… get to know them

We can’t, at least not now. We do not want to allow perfection to be the enemy of the good. Hopefully, this slows down whales that want to tamper with the system.

But at least, we’re excited to be promoting the ideas of RadicalXChange and Quadratic Voting.

– Pickle Finance 🥒 (bluepicle.eth) (@piclefinance) September 13, 2020

Where the project management responded to Buterin’s question, which came with the following:

Nice !

How are individual identities determined to prevent individuals from splitting their funds into many accounts to avoid squaring the roots?

Project management responds with the following:

We can’t, at least not now.

We do not want to allow perfection to be the enemy of the good.

Hopefully, this slows down whales that want to tamper with the system.

We are excited to promote the ideas of ‘RadicalXChange’ and ‘Quadratic Voting’.

“Pickle” collects the four largest stablecoins (DAI, USDC, USDT and sUSD) and links them using the power of “yield farming” and “pVault”.

Read:Valkyrie applies for a license for a BTC ETF

The “Pickle” protocol uses incentives for “yield farming” and governance to round and peg stablecoins.

By distributing PICKLE coins to Uniswap LPs of different stablecoin groups, the movement of capital between the stablecoins is encouraged.

The “Pickle” project uses “pVaults” which stands for “Pickle Vaults” various active strategies including quick loans backed by short unsecured stable currencies, to generate returns for pVault holders.

The digital currency PICKLE is also used for governance and control of the monetary policy of the system in general.

Read also:

To what extent is blockchain technology used by governments? How does this technology meet the needs of public institutions?

The Uniswap project launches its digital currency UNI … details here