Pika Protocol Roadmap

The vision of Pika Protocol is to become a top decentralized exchange with the same level of user experience as centralized exchanges. We have not released a roadmap for the past two years because we believe in under-promising and over-delivering. Additionally, it is difficult to plan too far ahead in the fast-changing world of crypto. Flexibility and quick action are essential. That being said, we recognize the importance of involving the community in our work, and therefore would like to share a roadmap of our planned achievements for the next 18 months. We will communicate accordingly if there are any future changes.

Launch Pika V4

Pika V4 is an incremental upgrade from Pika V3, providing the following improvements:

• Replacing the in-house fast oracle with a decentralized low-latency Pyth oracle. This makes order settlement fully trustless.
• Expanding to more than 40 trading pairs.
• Supporting stop loss/take profit orders within the same transaction when opening/closing positions.
• Supporting both adding and withdrawing margin for active positions.

Pika V4 is expected to launch in June of this year, along with the PIKA staking.

Launch an NFT Perp Exchange

Launching an NFT perpetual exchange can be a great way to expand Pika’s current offerings. Despite bear markets, NFT spot markets continue to stay relevant. However, the high cost of top NFTs makes it difficult for small retail buyers to access the asset’s upside. Although NFT fractionalization has been a topic for years, it has not seen major success. Additionally, NFT holders find it challenging to hedge NFT exposure without selling the NFT.

Pika NFT Perpetual Swap Exchange solves these problems. Small retail buyers can now purchase 1/100 of a PUNK by longing PUNK perp. BAYC holders can hedge their holdings by shorting BAYC perp without selling their BAYC. The launch is anticipated to take place by the end of this year.

Launch Pika Chain and Pika V5

The biggest milestone is the launch of a layer-3 chain on top of the OP Stack to support Pika v5.

Despite the increasing demand for traders to move away from CEXes to DEXes after the FTX event, the number of active users of derivative DEXes has not significantly increased and still falls far behind CEXes. One of the main reasons for this is that it’s still too expensive and slow to use the most current DEXes due to high gas fees and high latency on layer 2s. This will be more achievable with the layer-3 app chain and upcoming EIP-4844.

Pika Chain is a layer-3 app chain built on top of the OP Stack. It inherits Ethereum security while customizing the chain settings to be better adapted to an exchange use case. The PIKA token is expected to be the native gas token of the Pika Chain. Pika v5 is planned to be a hybrid of AMM and an order book-based exchange.

We have been actively exploring this opportunity for several months and maintaining close communication with the OP team regarding the app chain launch. Stay tuned for further updates and more details as they become available. This significant milestone is anticipated to be accomplished within the next year.

In conclusion, we are incredibly excited about the future of Pika and the opportunities that lie ahead. Once again, we express our heartfelt gratitude to the community members who have made this possible.

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Visit website: www.pikaprotocol.com