What is Pika Protocol? Launched in 2021, Pika Protocol is the 1st perpetual swap exchange on Optimism, allowing users to trade both Forex and Crypto with up to 100x leverage and nearly zero slippage.
If you are familiar with futures in the traditional finance system, perpetual futures function similarly with one key difference. Traditional futures have expiration dates, while perpetual futures do not allow you to keep leveraged positions open until closed.
Pika adopts the automated market maker (AMM) model, where minimum liquidity is needed to bootstrap trading. Unlike many other derivative exchanges, Pika allows traders to swap directly from their wallets without any depositing steps for a simple user experience. Here are some features offered by Pika:
High Leverage — Pika offers up to 100x leverage. Vaults — The liquidity providers back the protocol. By staking in the vault, liquidity provider takes the opposite position of all traders on the platform. The vault pays for trader profits and receives trader losses. In addition, it also receives trading fees, funding payments, and liquidation profit of trades. Low Fees — Since Pika is built on top of Optimism fees are 100x less than they would be on mainnet. User Friendly — Trade directly from your wallet. Deep Liquidity — Trade with nearly zero slippage for major pairs like BTC and ETH. And last but not least
We believe Web3 needs to be made available for not only the next million users, but for the next million developers to build on it as well.
Our SDK is the ultimate cross-chain money lego for dApps to build on top of or plug into themselves.
We’ve integrated multiple fallback bridges + DEXs so that you don’t have to We maintain bridges + DEXs so that you don’t have to We choose the best bridges based on our research so that you don’t have to (positioning ourselves neutral) Alchemix — SDK integration DeFi Saver — SDK integration Superfluid — SDK integration
To learn more about Pika, check out their:
Website Twitter Blog Discord Docs Closing Thoughts This integration would not have been possible without the generous grant provided by Optimism. We are grateful for their support and belief in our project.
Optimism is a layer 2 solution for Ethereum that enables faster, cheaper, and more scalable transactions. It uses Optimistic Rollup technology to aggregate transactions off-chain, allowing for higher transaction throughput and lower fees. This makes it ideal for applications that require high scalability and low cost. Optimism also provides a secure and reliable layer of security, ensuring the integrity of users’ assets and data. Overall, Optimism is a valuable addition to the Ethereum ecosystem, providing the necessary infrastructure for the growth and adoption of decentralized applications, and we are proud to support it through.
Through our grants program, we want to empower innovative projects and help them achieve their potential. By supporting promising projects like Galleon, we are driving the development of the entire cross-chain ecosystem.
We encourage other projects to apply for a grant from join us on this exciting journey. Together, we can push the boundaries of what is possible and build a better cross-chain future for all.