Uses of $PICKLE
The $PICKLE token admittedly has limited use in its raw (unlocked) form. When timelocked by their user, $PICKLE tokens convert into $DILL, representing an entitlement to a portion of the platform revenues, voting rights, boosts on your farm returns, and more.
The unlocked $PICKLE token can serve as a liquid option against a share of the platform revenue. If the protocol revenue continues to increase, your unlocked $PICKLE (which can be converted to $DILL at the click of a button) should increase in value as well, representing the value of the cashflow you could generate by converting the $PICKLE into $DILL.
An increase in platform revenue would also generate significant upward pressure on the price of the $PICKLE token, not only because of a cash flow valuation, but also because of supply and demand functions. At specific points deemed appropriate to keep in the Pickle treasury, a percentage of platform revenue is used to buy back $PICKLE tokens from the market. If platform revenue increases, the amount of $PICKLE bought back will also increase, putting upward pressure on the price of the $PICKLE token.
These two functions should keep changes in the $PICKLE price moving in the same direction as platform revenue, and reinforce the relationship between the token and the protocol’s success.
Last modified 8mo ago