Pika Protocol (PIKA) is a decentralized perpetuals swap exchange built on the Ethereum layer 2 network, Optimism. It offers several features that aim to provide users with a high-leverage trading experience, low slippage, and support for crypto and forex trading.
Pika allows for trading on various trading pairs and boasts low fees due to its integration with Ethereum Layer 2, which helps reduce gas fees. One of the advantages of Pika Protocol is the ability to swap directly from your wallet without the need for deposits.
Pika Protocol offers a capital-efficient model where a PIKA token is minted by depositing one dollar value of supported tokens (e.g., ETH, WBTC), resulting in better capital efficiency than overcollateralized stablecoins. The PIKA token also serves various purposes within the Pika Protocol ecosystem, including participating in leveraged trading on the platform, governance, staking, and lock-up mechanism.
