What are Pickle Jars?
Put your tokens into a PickleJar and earn without losing your tokens' principal.
How picklejar works (Thanks Fennec)!
Each PickleJar (or pJar) employs a different alpha seeking strategy, but fundamentally works in a similar manner:
- 1.Creating the input tokens in relevant project, for example ALCX/ETH
- 2.Users deposit the 10 ALCX/ETH sLP (Sushi Liquidity Provider) tokens into pJar 0.99x and receive 10pTokens (if one deposits in the beginning of the jar's creation. Otherwise it depends on the ratio or the underlying asset which has appreciated). 2.1. PICKLE protocol will collect the ALCX reward with 20% performance fee 2.2. which half of it will be sold for ETH, and reinvested back to the sLP. Your pToken will not increase, but when you exit the jar, the ALCX/ETH sLP will be worth more depending when you exit.
- 3.You can deposit your pTokens into the pickle farm. 3.1. and the farm will give you PICKLE token in addition to your compounding Jar. 3.2. You can sell your PICKLE 3.3. Or you can lock your PICKLE for DILL (1 PICKLE = 1 DILL if locked 4 years) for the protocol revenue sharing!