The Pickle Farmers Bank

Pickle could start its own bank, such that all pickle farmers can safely store their ETH, stables and their precious pickle jars. Because this bank will accept all jars as a deposit, pickle farmers will be able to leverage their farms or will simply be able to pay for their groceries without having to sell the farm.

I think this could attract a lot of capital and will add a lot of value for our users. I believe that currently, the only vaults/jars that are accepted as deposit are yUSD/yEth in Cream, so there is a huge market to gain.
This could as well open up new jar strategies that are dependent on borrowing assets, if you can do the borrowing in house, this could be a huge benefit.

The implementation could be a Compound fork, which is well audited and safe to use. Pickle will be distributed on the deposits, so that means, that the current farm infrastructure can be replaced.


Do you propose an amount of pickle owned or needed to be staked for access?

The bank can keep a part of the borrow interest, so the direct added value is that it generates a profit stream that can be distributed among the pickle holders. Jars can be used as collateral, this adds value to the jars, so there will be more demand for the jars, generating more income.
We could also add pickle as collateral, such that pickle holders will be able to borrow against their Pickle.

I am not in favor of restricting the use of the bank to pickle holders, because the more the bank is used the more profitable Pickle will be.