Yearn Finance absorbs Pickle to boost DeFi rewards
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....
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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 […]
Pickle Finance got hacked so badly on Saturday that its developers asked to be merged into Yearn. Finance Redefined is Cointelegraph’s weekly DeFi-centric newsletter, delivered to subscribers every Wednesday.On Saturday, we saw one of the most complex smart contract hacks yet affecting Pickle Finance, a yield optimization protocol very similar to Yearn — an important point for later.PeckShield provided a technical explanation for it, but I think only Solidity developers can really understand it. The high-level take is that the hacker found two textbook examples of code vulnerabilities in....
"That's how shit gets done here," says one team member This morning, Yearn founder Andre Cronje announced the latest in a spate of high-profile mergers and collaborations for the multi-faceted decentralized finance (DeFi) protocol: Yearn Finance will be “joining forces” with market coverage provide Cover. In a blog post, Cronje notes that the merger will be a natural one, as Yearn and Cover developers have been working together since Cover’s inception. Cronje also listed a series of promising possible synergies, including enhanced utility for the Cover’s CLAIM token, which will act as....
Popular DeFi protocol Yearn Finance has launched a new product, a yield generator called yvBOOST. Part of its suite of vaults, this product will complement the “Backscratcher” vault and will allow users to earn and boost rewards in the Curve-based token 3CRV. “Backscratcher” offers rewards in Curve’s, an Ethereum exchange liquidity pool, native token CRV. […]
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....