Pike, the pioneering testnet of a liquidity provider enabled by wormhole technology, makes its debut.
Pike Finance, a provider of cross-chain liquidity, has announced the rollout of its testnet on Ethereum and its layer-2 solutions. The protocol’s cross-chain functions can now be tested by blockchain developers using the testnet on Ethereum, as well as Goerli’s versions on Optimism, Arbitrum, and Base. Pike has also revealed plans to support other networks such as Solana, Monad, and Fraxchain, although no specific timeline has been provided.
Through the testnet, users of Pike Finance can explore various functionalities including minting faucet tokens, depositing assets as collateral, borrowing, repaying loans, and withdrawing funds. However, it should be noted that the current version of the testnet is still a “work-in-progress,” and users may encounter issues and errors.
This launch follows Pike’s recent funding of $50,000 in USDC from Circle and Wormhole, which will aid the protocol in launching its mainnet in early Q1 of 2024. Pike Finance operates as a cross-chain liquidity provider, utilizing a hub and spoke architecture that enables users to supply and borrow native assets across supported chains.
