Pika Optimism Quest Guide

Pika Protocol
5 min readSep 21, 2022

Pika Protocol is proud to be part of Optimism Quest and this is the guide to show users how to participate.

What is Optimism Quest?

Quests invites users to explore the Optimism ecosystem and rewards them for the completion of specific on-chain activities. The hope is that people will find the apps they love, and projects can help expand their reach to achieve their goals. You can visit the quest page here: https://app.optimism.io/quests.

What is Pika Protocol?

Pika Protocol is a decentralized perpetuals swap exchange on Optimism, which supports up to 50x leverage on a large number of assets with nearly zero slippage. Pika has low trade fee of 0.1% and low gas fee thanks to Optimism. Trading on Pika is so simple that it involves just one click swap.

Quest for Pika Protocol

Before starting the quest, you can learn about Pika and need to complete a short quiz.

After that, users need to complete both of the these two simple tasks on Pika Protocol to be qualified for the Optimism Quest:

Below is the detailed step-by-step guide for each of the task. You can also refer to user guide for more information.

Task 1: Open a trade

  1. Users need to have both ETH and USDC on Optimism. To bridge and swap tokens to Optimism, you can follow this guide.
  2. Visit app page at https://pikaprotocol.com/#/trade/. Switch your wallet to the right blockchain and connect it to the trade page. Click the product list on the right and select the trading pair you want to trade.

3. Then on the right section of the page, you can select and input the trade details. For simplicity, you may select Market order on the top right section, choose either LONG or SHORT and input the Size of the trade you want to open. The Margin amount is automatically calculated based on your size and selected leverage. The margin is the amount of USDC you will transfer as the margin for this trade and it has to be no less than 30 USDC.

After that, the summary of the trade is updated. Mark Price is the current oracle price. Entry Price is the estimated trade price if you open the trade. Price Impactis the estimated price impact of your trade. Liquidation Price is the estimated price of your position get liquidated. Trade Fee is the trade fee to be charged. Execution Fee is the fee to cover the gas cost of Pika keeper. Total Cost is the sum of margin, trade fee and execution fee.

4. If it’s your first time trading on Pika, you would need to approve Pika contract to transfer your USDC and enable Pika keepers to submit market orders for you by agreeing with the terms.

5. Then after clicking the Submit button, the confirmation will show up with the order details. Then you can check the details before you click Confirm.

6. The sumitted orders will be picked up within few seconds. You will receive notifications when the order is executed successfully and then you can see the active positions. If the order fail to be executed, you will be notified of the reasons and the orders will be automatically cancelled. Make sure your position shows up in the Position tab before moving on.

You can then choose to close the trade whenever you want or keep the position open. Please follow this guide on how to close the trade and be aware of the liquidation price.

Task Two: Add liquidity of No Less Than 30 USDC

  1. Visit liquidity page at: https://pikaprotocol.com/#/vault and read the description carefully to make sure you understand how it works and the risks.

2. Click Stake button, input at least 30 USDC, click Stake and confirm the transaction. After it’s done, check My Share Balance to verify it’s the same as the amount you staked. Note that your liquidity will be locked for 3 days before you can withdraw.

3. You can choose to keep the liquidity in the vault or withdraw after 3 days. Click Unstake and input the amount when you withdraw. You can also click Claim button to claim the reward you earn for this period.

To caim the NFT, you can go to this page to do the verification and claim the NFT!.

To learn more amout how Pika works and the user guide, please read the documentation. You are also welcomed to join our discord to provide feedback and ask questions.

Follow us on Twitter: @PikaProtocol
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Join the discussion on
Discord
Visit website:
www.pikaprotocol.com

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Pika Protocol

The 1st perpetual swap exchange on Optimism, up to 50x leverage on any asset with deep liquidity