Pika Protocol, a decentralized exchange that facilitates leverage trading in Optimism, has announced the launch of its $PIKA token. You might be eligible for their airdrop if you have interacted with the Pika Protocol before. Here’s what you need to know:
What you'll learn 👉
Pika Protocol: Enabling Leverage Trading in Optimism
The Pika Protocol is a decentralized exchange that operates on Optimism, a Layer-2 scaling solution for Ethereum. Pika enables leverage trading on Optimism, allowing users to magnify their gains or losses. In August 2022, Pika received a grant of $900,000 worth of $OP tokens from the Optimism Foundation.
Previous $OP Airdrop to Pika Users
Pika Protocol airdropped some of their $OP tokens to users who traded or provided liquidity on their platform. Now, they are launching their $PIKA token and plan to distribute some of it through retroactive and future airdrops.
$PIKA Token Launch
Pika Protocol has finally launched its $PIKA token after being in operation for two years. The total supply of $PIKA tokens is 19 million, and 11% (2.09 million tokens) will be used for retroactive and future airdrops. These tokens will be distributed as “esPIKA” and vested over one year.
Airdrop Eligibility Criteria Yet to Be Announced
While Pika Protocol has not released any details about the eligibility criteria for the airdrop, it has provided a medium article with information on its tokenomics. Keep an eye out for more news about the release.
In conclusion, the Pika Protocol’s $PIKA token launch significantly develops the decentralized finance (DeFi) space. With Pika’s expertise in enabling leverage trading on Optimism, the launch of $PIKA and the airdrop of esPIKA tokens are exciting prospects for DeFi enthusiasts.
