Pickle allows users to earn PICKLE tokens in exchange for liquidity in pools of stabelcoins called " jars." It is reported that the new jar currently provides 93,501% APY, although it is expected that as automatic componenting is implemented throughout the year, the APY will decrease as TVL grows.
The MIC/USDT jar follows the BAC/DAI jar announced earlier this week. Both Basis Cash (BAC) and Mith Cash (MIC) are algorithmic stackcoins that encourage users to burn their stackcoins when they fall below the peg. In theory, this should offer the possibility of profitable farming with low periodic losses, although this model is still experimental.
DeFi follows the idea of rebuilding the infrastructure of financial services and moving it into a fully decentralized structure, removing the need for third parties such as companies and governments. ...
