Pickle Finance will merge with yEarn.Finance after losing $20 million

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Pickle Finance, developers of the decentralised finance protocol, announced a merger with the yEarn.Finance DeFi project André Kronier.

In his blog, Kronje said that the symbiosis of the two projects would reduce the amount of repetitive work for programmers, increase their specialisation and make use of common experience. The Pickle and yEarn pools are similar in code, so teams do not expect problems in the merger process.

The developers have announced the release of the Binbot token as a debt instrument to help those affected by the break-in. It will be distributed proportionally based on account balances at the time of the attack.

A second DILL token will motivate users to hold onto PICKLE coins.

“The longer the PICKLE is blocked, the more DILL can be obtained. The minimum blocking period is one week, the maximum is four years,” Kroņer said.

We remind you that on November 21, an unknown malefactor withdrew about $19.76 million in Compound DAI from one of Pickle Finance’s smart contracts through fake swaps and a malicious storage facility.