Buterin's Tweet spurred the growth of another DeFi Token

by in Cryptocurrency News


Pickle Finance (PICKLE) is another food-themed token that surged from a low of $ 4.41 (September 12) to a high of $ 85.24 (September 14).

Pickle Finance is being used for "profitable farming" and aims to "eliminate volatility in the four largest stablecoins in the DeFi market." The project offers higher rewards in pools of stablecoins that are trading below par and smaller rewards in pools where stablecoins are trading higher. The system encourages users to sell "expensive" stablecoins to buy tokens with a lower value. Pickle Finance currently covers four stablecoin pools: DAI / ETH, USDC / ETH, USDT / ETH, and suSD / ETH.

PICKLE's price began to skyrocket after its voting system caught the attention of Ethereum creator Vitalik Buterin. "Fine! How do you determine the identity of the user so that people cannot split their funds into multiple accounts?” Buterin asked on September 13.

Trending: Optimism launches testnet of its Ethereum scaling solution

In response, the Pickle Finance team acknowledged that the project is in its early stages of development: “We cannot, at least not now. We do not want the ideal to become the enemy of the good. Perhaps later we will be able to develop a system for more accurate identification of users. The project has been running for a little over two days."