[RFC] PICKLE + RULER collaboration

Summary

To allow PICKLE holders the ability to borrow stablecoins without risk of liquidation if you pay back in time. We will be proposing to incentivize 800 PICKLES per week for an initial period of 4 weeks. The RULER team has also committed 50 RULERs per week for same period.

What is RULER Protocol?

RULER Protocol is a lending platform where users can borrow their preferred tokens with any other asset. It aims to fill the gap by enabling the following:
a) No liquidations as long as borrowers pay back on time
b) Interest rates determined by supply and demand
c) Fixed rate loans at the moment of borrow / lend
d) Fungible loans, tradable anytime & anywhere

How does it work?

For depositors:
a) Click Borrow and a zap is created which locks PICKLE as collateral, mints both RR tokens (your collateral) and RC tokens (your debt) and market sells the RC token into the pool. Essentially the LPs are buying your debt.
b) Once your debt is repaid or at expiry, the debt will be worth $1. Once debt is repaid, PICKLEs are returned automatically to you.

For farmers:
a) You will need RC tokens and stables.
b) Deposit them into the RULER metapool.
c) Stake the token to earn both PICKLE and RULER.

Additional Information

RULER protocol: https://docs.rulerprotocol.com/
RULER user guide: https://docs.rulerprotocol.com/user-guide/borrower

PICKLE & RULER collaboration
  • Yay, go for it
  • Nay, do nothing

0 voters

1 Like

I think this is a great opportunity to partner up with an upcoming protocol, plus it provides utility to Pickle holders!

Sounds like a good collaboration between two undervalued projects with bright futures - like chim said, more utility for pickle holders is always a positive thing! :slight_smile:

I’m a bit lost as to where the 800 Pickle and 50 Ruler per week fit in. What is that for?

The PICKLES and RULER tokens will be used to incentive the users to farm with the RC tokens and stables

1 Like

More uses for PICKLE is always good… go for it