After thinking about new ways we can capture value I put forward an idea on discord about a multi collateral gold stablecoin/jar.
I’m not sure how feasible the idea is (it’s a bit of a shower-thought), and I’ve not thought through the finer details, but there are a few different strategies that we could employ. For example, we could try to peg the price of gold tokens (similar to the off peg bad, on peg good idea), and/or they could be used as collateral. If this worked it could be a game changer…
If we can produce a yield on gold, that’s a whole lot of value in the world up for grabs. Any yield at all for gold investors would be huge – there are storage fees being paid on trillions of dollars worth by current gold investors. In addition, holding a multi collateral gold token would also reduce counterparty risk, which alone is attractive. Furthermore, this is a novel idea for Pickle. To my knowledge there is no other project that has done this yet.
There would be a few hurdles to overcome, for example, there isn’t a whole lot of liquidity in the gold tokens right now, and I imagine we would have to work with some of the bigger players in the wider DeFi ecosystem to make this happen. But I suppose the only way is up, and we could incentivise liquidity with pickles.