On the Pickle Finance Meld and Argent’s yVaults Integration

At the start of the week, Blockonomi surveyed some of the decentralized finance arena’s top yield aggregator projects, including Yearn and Pickle Finance.

These projects aim to bring DeFi users attractive returns via strategies powered by smart contract-based “vaults.” The idea? You put your crypto in, these vaults automatically generate you profits on your deposits, and then you withdraw as you please.

Alas, what projects like Yearn and Pickle Finance share in common is their mission to make passive DeFi profits easy. Zooming in, though, the two projects are going to start sharing a lot more going forward per a new agreement between the yield aggregators’ respective teams.

Yearn and Pickle Merging

In a first-of-its-kind move in DeFi, the Yearn and Pickle teams have agreed to merge their efforts.

Yearn creator Andre Cronje announced as much this week in a post playfully titled “Pickle and Yearn ferment co-operation dill,” which he began as follows:

“Pickle and Yearn developers have worked out a structure to allow the two projects to work together in symbiosis. This is done to reduce duplicate work, increase specialization, and to leverage shared expertise […] This is an initial minimal release, with further integration planned.”

Specifically, the merger will take place with the arrival of Yearn’s v2 system, of which multiple test vaults are already being trialed. Pickle Finance’s vaults infrastructure, i.e. Pickle Jars as they’re known, will accordingly be melded in with Yearn’s optimized and highly-anticipated v2 yVaults.

Yet it’s not just tech that’s merging, either. The projects will notably combine their total value locked (TVL) sums, i.e. their respective assets under management. Pre-merger and at the time of this post’s writing, Yearn’s TVL was $440 million USD.

The deal will also see Yearn onboarding “Pickle’s developers and strategy creators to work on its product offering and share strategy fees” and a new boosted rewards…

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