Pickle Finance: Closing the Jar

Dear Pickle Community,

After difficult reflection, Pickle Finance will be sunset, after operating nearly 5 years as a pioneer DeFi yield aggregator. Pickle has navigated DeFi’s evolution and built an extremely strong community. However, with changes to the DeFi landscape, we believe it’s time to close the chapter and return the remaining value to the community.

This post looks back at key events in Pickle’s history, and the details of the re-distribution.

tl;dr

- Pickle Finance is shutting down after nearly 5 years of operation
- All remaining treasury funds (170,280 USDC) will be distributed to PICKLE and DILL token holders
- Distribution will be proportional to your holdings (1 PICKLE = 1 DILL = 1 PICKLE in LP in terms of claim rights)
- Claim your share at app.pickle.finance/claim
- The Pickle UI will be disabled October 1, 2025
- Users are encouraged to withdraw all funds from Pickle Jars

🕰️ Pickle: A Look back in Brine

Pickle has had a very storied history from day one. Let’s take a stroll down memory lane.

September 2020 — Launch

At the height of 2020’s DeFi Summer, Pickle was a fair-launch project with an initial mission to bring stability to stablecoins, bearing the slogan “Off peg bad, on peg good”. PICKLE briefly reached top 6 in Uniswap trading volume, and reached $140M in TVL. Times were good and the future of finance was green.

The early Pickle community was extremely passionate, with many members dedicating time towards building dashboards, educational materials, participating in PIP governance, suggesting new Pickle Jars, and simply being awesome in Discord. The community has made Pickle an unforgettable journey.

November 2020 — Hack

On Saturday November 21 2020, an attacker drained 19 million DAI from the pDAI Jar. White hats quickly stepped in to identify the attack vector and assist with mitigations, to whom we are extremely grateful for their support (thanks to Banteg in particular). This was an extremely challenging time for the project and the community, especially for depositors who lost funds to the exploit.

April 2021 — DILL

Thanks to the support of Andre Cronje and the strong Pickle community who stuck with the project through the hard times, DILL was launched. PICKLE holders could lock tokens to share in protocol profits, boost rewards from Jars, and increase governance influence.

Onwards

Pickle was so back. TVL soon rivaled all-time highs and fees were flowing to DILL thanks to innovative Jars developed for top projects excited to collaborate with Pickle. Pickle expanded its Jars to 13 chains, adapting quickly to the new cross-chain meta.

Unfortunately, the bear market of 2022 took the wind out of Pickle’s sails. With fewer deposits to compete for and an increasingly saturated yield-aggregator landscape, it became hard for Pickle to attract new users and deposits. Despite their best efforts, core contributors couldn’t find the secret sauce to overcome the poor market conditions, experimenting with different products like a revamped UI and liquid lockers. This led to burnout and contributors moving onto other roles, whilst actively looking for someone to take up the mantle. Unfortunately, it’s finally time we call off the search.

Distribution Details

We have unwound all of the funds in Pickle’s treasury, converted to USDC, and are distributing to PICKLE and DILL holders. The distribution will follow these principles:

1. 170,280 USDC will be distributed proportionally to eligible token holders
2. Eligible token holders include:

• PICKLE token holders across all chains (Ethereum, Arbitrum, Polygon)
• DILL holders (your locked PICKLE amount will be counted as your balance, regardless of lock duration or status)
• PICKLE deposited in LP (Mainnet Uniswap and Sushiswap, Arbitrum Balancer)
• Only wallets with an aggregate balance greater than 300 PICKLE are eligible
• Balance snapshots were taken on June 10, 2025

Merkle proofs are used, and claims after the UI shuts down are possible by interacting with the distributio contract using the posted proofs.

Make sure you are interacting with this Ethereum contract: 0x63a9Fd263688BB3B7c79305cdD5D91Fb064D7865

How to Claim Your Share

To claim your share of the distribution:

1. Visit app.pickle.finance/claim
2. Connect your wallet holding PICKLE or DILL
3. The interface will show your eligible claim amount
4. Click “Claim” to receive your treasury share as USDC

🙏 Final Thoughts

We want to express our deepest gratitude to everyone who has been part of the Pickle Finance journey:

• Early degen farmers
• Dedicated contributors (developers, designers, writers, and more)
• Community members
• The Dill DAO
• Protocol collaborators
• and everyone in between…

THANK YOU for making Pickle a special part of DeFi history 💚 The relationships built and experiences made during this journey will last a lifetime.

For any questions about the distribution process, please join the Pickle Discord where the team will provide support until the end of the distribution period.

Thank you for being part of our journey.

The Pickle Finance Team

Frequently Asked Questions

Q: What if I miss the October 1st deadline?
A: The claiming smart contract remains active indefinitely. Only the frontend interface becomes unavailable after October 1st. You can still claim using direct contract interaction or third-party interfaces.

Q: What about my funds still in Pickle Jars?
A: Please withdraw all funds from Pickle Jars before October 1st when the UI becomes unavailable. After this date, you'll need to interact with contracts directly.

Q: Will PICKLE tokens have any value after the distribution?
A: The treasury distribution represents the remaining protocol value. There is no planned active protocol development that would accrue value to PICKLE tokens

Q: Can I still trade PICKLE tokens?
A: Yes, existing DEX liquidity will remain available as long as liquidity providers maintain their positions.