PikePike Token Generation
TLDR:Pike token generation and distribution took place on 9/30/2024 17:57 UTC110,761,849.83 Pike tokens distributed to 3,681 Presale ParticipantsPresale Participants will receive 50% of the tokens subscribed; the remaining 50% will vest monthly over 6 months after a 3 month cliffPike tokens will be distributed automatically to the same wallet addresses used for the presale contributionPike token format is ERC-20, and the initial trading venue will be Aerodrome on BasePike token address on Bas...
PikeThe Pike PIU Program is now live!
The Pike PIU Program is live!https://piu.pike.finance A new paradigm for points programs. One that doesn’t lock you in, and lets you monetize your participation at will. Rewarding both onchain activity, and community participation. Earn higher whitelist tiers, and contribute to the Pike Community Presale - for a chance to subscribe to the Pike Governance Token, and being a part of the native multichain DeFi journey at the ground floor.TLDR:$PIU allocation for Discord roles will be unlocked by...
PikePost-Mortem Report: Pike USDC Withdrawal Vulnerability
This report aims to transparently outline the circumstances that led to the financial loss and to assure our users that we are committed to implementing immediate measures to recover stolen funds. On April 26, 2024, 00:13:59 UTC, Pike Finance experienced a security breach due to the exploitation of a vulnerability within the Pike protocol. This resulted in a financial loss of 299,127 USDC incurred across 3 networks — Ethereum, Arbitrum, and Optimism. Only the USDC asset was affected, all othe...
Modular money market optimized for cross-chain liquidity
PikePike Token Generation
TLDR:Pike token generation and distribution took place on 9/30/2024 17:57 UTC110,761,849.83 Pike tokens distributed to 3,681 Presale ParticipantsPresale Participants will receive 50% of the tokens subscribed; the remaining 50% will vest monthly over 6 months after a 3 month cliffPike tokens will be distributed automatically to the same wallet addresses used for the presale contributionPike token format is ERC-20, and the initial trading venue will be Aerodrome on BasePike token address on Bas...
PikeThe Pike PIU Program is now live!
The Pike PIU Program is live!https://piu.pike.finance A new paradigm for points programs. One that doesn’t lock you in, and lets you monetize your participation at will. Rewarding both onchain activity, and community participation. Earn higher whitelist tiers, and contribute to the Pike Community Presale - for a chance to subscribe to the Pike Governance Token, and being a part of the native multichain DeFi journey at the ground floor.TLDR:$PIU allocation for Discord roles will be unlocked by...
PikePost-Mortem Report: Pike USDC Withdrawal Vulnerability
This report aims to transparently outline the circumstances that led to the financial loss and to assure our users that we are committed to implementing immediate measures to recover stolen funds. On April 26, 2024, 00:13:59 UTC, Pike Finance experienced a security breach due to the exploitation of a vulnerability within the Pike protocol. This resulted in a financial loss of 299,127 USDC incurred across 3 networks — Ethereum, Arbitrum, and Optimism. Only the USDC asset was affected, all othe...
Modular money market optimized for cross-chain liquidity
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Gpike friends - we’re back with a much anticipated adjustment to Pike’s tokenomics!
We appreciate all the feedback we’ve received, however Pike’s tokenomics seems to be a hotly debated topic as of this week - so we’ve decided to do something about it, and align the $P token with our community investors at large.
Core Contributors (Team) have become their own category - separate from Advisors
Core Contributors (Team) schedule have changed to:
Core Contributors receive 10% of total supply
0% unlock at TGE
12 month cliff/lock before vesting begins
100% vests over 36 months
Advisor schedule have changed to:
Advisors receive 5% of total supply
25% unlock at TGE
12 month cliff/lock before vesting begins
Remaining 75% vests over 12 months
Tokenomics Spreadsheet can be found at: https://docs.google.com/spreadsheets/d/1Oe-tEEXTrHwNQUzkqaO8T-xB0zecpgXS57hkeomqL8k/edit?usp=sharing
10.35% from the 22% Foundation Treasury was sold during the Pike Community Presale. The remaining 11.65% will be reserved for future capital formation events.
Organizing the presale was quite an involved task for the Pike team and presented a number of challenges from both the appetite of retail individuals due to market momentum, but also regarding the logistics and execution of the entire event.
Furthermore, there was also quite a bit of development effort required due to the mechanics of the presale, with it having been done in-house, and tied in with the Pike PIU Program (PPP).
Despite it being far more demanding on both the team and community than going down the traditional route of institutional fundraising, we would not change anything whatsoever if given the chance to do it over.
We believe that this Presale was the best way to grow Pike by providing the community an opportunity to take part within the ownership structure at an early stage - an opportunity that is rarely, if ever, available to retail individuals.
Furthermore, now that Presale participants are literally upon the cap table of Pike, we must align our decision making with the community, even before $P governance goes live.
Of course, while successful, the Presale was not free from hiccups, issues or scrutiny. The largest concern community members had was regarding the vesting schedule, and specifically the Core Contributors & Advisor section. For this, we opted for a generally shorter schedule due to the 18 months that the team has already spent working on the protocol, and the added capital flexibility during an uncertain period within the market due to both the in-industry, and macro environment.
We had, of course, deliberately prioritized the vesting schedule for Presale participants, with them receiving the largest unlock, with the shortest cliff and vesting schedule (50% at TGE, 3 month cliff and 6 month vesting i.e. 100% unlock by Month 9). We were also able to sell 10.35% of the 22% Foundation Treasury allocation, and the remaining 11.65% will be reserved for future capital formation events.
As we’ve stated however, we are opting for a community-first approach across the board. Whether it be protocol design, features to implement, UI and UX to rework, partnerships, or tokenomics. Since this was the most significant concern, we have reworked the tokenomics regarding the team allocation to reflect the values and opinions of our most valued stakeholder - the community, and reinforce our long term vision and alignment as a team.
As a result, we’re making the following changes to the tokenomics:
Total vesting schedule is extended from 43 months to 48 months
Core Contributor & Advisors separated into 2 separate categories
Rather than being a combined 15%:
Core Contributors receive 10%
Advisors receiving the remaining 5%
Core Contributors vesting has changed:
25% at TGE -> 0% at TGE
6 Month Cliff/Lock -> 12 Month Cliff/Lock
6 Month Vest -> 36 Month Vest
Advisor vesting has changed:
25% at TGE -> 25% at TGE (unchanged)
6 Month Cliff/Lock -> 12 Month Cliff/Lock
6 Month Vest -> 12 Month Vest
The full spreadsheet that details the unlock schedule and tokenomics can be found at the following link:
As always, please provide your thoughts and suggestions on Twitter or directly within our Discord accordingly - we welcome all input as it’s only by listening to the community can we develop into a competitive protocol that has the potential to redefine DeFi as we currently know it.
Users and community members are also always welcome to engage with the team directly within our weekly office hours - the next one will be taking place on April 1st, and the subject will be Pike’s tokenomics!
Borrow, lend, leverage and earn across any chain. https://pike.finance/ | 32289 members
Pike is a Universal Liquidity Protocol; it is designed to unleash utility for native assets by aggregating liquidity across blockchain networks.
Pike’s vision is to become a universal liquidity layer that enables frictionless movement and accessibility of native assets across ecosystems. Pike is built on top of Wormhole’s Cross-Chain Data Messaging and Circle’s Cross-Chain Transfer Protocol (CCTP), and utilizes Pyth Network’s Price Feeds.
One fundamental primitive of Pike is to enable users to supply native assets on source chains and borrow native assets destination chains without interacting with cross-chain bridges and handling wrapped assets.
Learn more at: https://www.pike.finance/
Join the Discord at: https://discord.gg/pikefinance
Gpike friends - we’re back with a much anticipated adjustment to Pike’s tokenomics!
We appreciate all the feedback we’ve received, however Pike’s tokenomics seems to be a hotly debated topic as of this week - so we’ve decided to do something about it, and align the $P token with our community investors at large.
Core Contributors (Team) have become their own category - separate from Advisors
Core Contributors (Team) schedule have changed to:
Core Contributors receive 10% of total supply
0% unlock at TGE
12 month cliff/lock before vesting begins
100% vests over 36 months
Advisor schedule have changed to:
Advisors receive 5% of total supply
25% unlock at TGE
12 month cliff/lock before vesting begins
Remaining 75% vests over 12 months
Tokenomics Spreadsheet can be found at: https://docs.google.com/spreadsheets/d/1Oe-tEEXTrHwNQUzkqaO8T-xB0zecpgXS57hkeomqL8k/edit?usp=sharing
10.35% from the 22% Foundation Treasury was sold during the Pike Community Presale. The remaining 11.65% will be reserved for future capital formation events.
Organizing the presale was quite an involved task for the Pike team and presented a number of challenges from both the appetite of retail individuals due to market momentum, but also regarding the logistics and execution of the entire event.
Furthermore, there was also quite a bit of development effort required due to the mechanics of the presale, with it having been done in-house, and tied in with the Pike PIU Program (PPP).
Despite it being far more demanding on both the team and community than going down the traditional route of institutional fundraising, we would not change anything whatsoever if given the chance to do it over.
We believe that this Presale was the best way to grow Pike by providing the community an opportunity to take part within the ownership structure at an early stage - an opportunity that is rarely, if ever, available to retail individuals.
Furthermore, now that Presale participants are literally upon the cap table of Pike, we must align our decision making with the community, even before $P governance goes live.
Of course, while successful, the Presale was not free from hiccups, issues or scrutiny. The largest concern community members had was regarding the vesting schedule, and specifically the Core Contributors & Advisor section. For this, we opted for a generally shorter schedule due to the 18 months that the team has already spent working on the protocol, and the added capital flexibility during an uncertain period within the market due to both the in-industry, and macro environment.
We had, of course, deliberately prioritized the vesting schedule for Presale participants, with them receiving the largest unlock, with the shortest cliff and vesting schedule (50% at TGE, 3 month cliff and 6 month vesting i.e. 100% unlock by Month 9). We were also able to sell 10.35% of the 22% Foundation Treasury allocation, and the remaining 11.65% will be reserved for future capital formation events.
As we’ve stated however, we are opting for a community-first approach across the board. Whether it be protocol design, features to implement, UI and UX to rework, partnerships, or tokenomics. Since this was the most significant concern, we have reworked the tokenomics regarding the team allocation to reflect the values and opinions of our most valued stakeholder - the community, and reinforce our long term vision and alignment as a team.
As a result, we’re making the following changes to the tokenomics:
Total vesting schedule is extended from 43 months to 48 months
Core Contributor & Advisors separated into 2 separate categories
Rather than being a combined 15%:
Core Contributors receive 10%
Advisors receiving the remaining 5%
Core Contributors vesting has changed:
25% at TGE -> 0% at TGE
6 Month Cliff/Lock -> 12 Month Cliff/Lock
6 Month Vest -> 36 Month Vest
Advisor vesting has changed:
25% at TGE -> 25% at TGE (unchanged)
6 Month Cliff/Lock -> 12 Month Cliff/Lock
6 Month Vest -> 12 Month Vest
The full spreadsheet that details the unlock schedule and tokenomics can be found at the following link:
As always, please provide your thoughts and suggestions on Twitter or directly within our Discord accordingly - we welcome all input as it’s only by listening to the community can we develop into a competitive protocol that has the potential to redefine DeFi as we currently know it.
Users and community members are also always welcome to engage with the team directly within our weekly office hours - the next one will be taking place on April 1st, and the subject will be Pike’s tokenomics!
Borrow, lend, leverage and earn across any chain. https://pike.finance/ | 32289 members
Pike is a Universal Liquidity Protocol; it is designed to unleash utility for native assets by aggregating liquidity across blockchain networks.
Pike’s vision is to become a universal liquidity layer that enables frictionless movement and accessibility of native assets across ecosystems. Pike is built on top of Wormhole’s Cross-Chain Data Messaging and Circle’s Cross-Chain Transfer Protocol (CCTP), and utilizes Pyth Network’s Price Feeds.
One fundamental primitive of Pike is to enable users to supply native assets on source chains and borrow native assets destination chains without interacting with cross-chain bridges and handling wrapped assets.
Learn more at: https://www.pike.finance/
Join the Discord at: https://discord.gg/pikefinance
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