Yearning for Pickle? Two DeFi Protocols Merge
Pickle Finance was recently hit by an exploit in which $19.7 million in DAI was lost.
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DeFi protocol Yearn has taken Pickle onboard to create new vaults and strategies. Decentralized finance protocol Yearn has announced a partnership with Pickle Finance to bolster yield farming incentives, and compensate victims of the recent Pickle exploit that resulted in the loss of almost $20 million in Dai.According to an announcement from Yearn founder Andre Cronje, the move is designed to reduce duplicate work, increase specialization, and leverage shared expertise. Pickle Finance vaults, or ‘Pickle Jars’ as they’re known, are cloned versions of Yearn’s v1 yVaults so the code is....
Holders of Pickle Finance’s native coin PICKLE are currently suffering from a 50% drawdown after the protocol was attacked by an unknown user. Details are still unclear about the attack but the loss of funds has resulted in users pulling their liquidity and selling the cryptocurrency en-masse. PICKLE is down to $11.50 as of this […]
Decentralized finance (defi) protocol Pickle Finance was hacked for $19.7 million of the stablecoin DAI over the weekend, as the defi industry appears to be turning into a hackers paradise. Pickle’s native token (PICKLE) plunged 62% on the news, falling from $23.27 to $8.70 when the hack was first reported on Nov. 21. At the time of writing, the token has since rebound 29% in 24 hours to $18.51, according to Coingecko data. This is the fourth hack to hit the defi space in just two weeks. Akropolis, Value Defi and Origin protocol were exploited for a combined total of $15.7 million in....
Popular decentralized finance protocol Pickle Finance was hacked on Saturday.
Yearn users will be able to use their strategy pool tokens as collateral for lending. Two days after Yearn Finance (YFI) and Pickle Finance joined forces in DeFi’s first effective merger, Yearn founder Andre Cronje published details of another upcoming integration with Cream, a lending protocol similar to Compound and Aave.The blog post, published on Thursday, outlines how the two protocols will cooperate for the launch of Cream V2. As part of the partnership, the teams will merge development resources and introduce several symbiotic interactions between the two protocols.Yearn users will....