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?
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.
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.
RULER protocol: https://docs.rulerprotocol.com/
RULER user guide: https://docs.rulerprotocol.com/user-guide/borrower
- Yay, go for it
- Nay, do nothing