Pika Receives Pyth Network Retroactive Airdrop
We are thrilled to announce that Pika Protocol is now a proud recipient of the Pyth Network Retrospective Airdrop Program.
Launched in 2021, Pika Protocol was the first decentralized perpetual futures exchange on Optimism. We have always endeavored to provide a seamless, intuitive trading experience to our users with the most powerful and efficient technology available. Along with our users, community, and strategic partners, we hope to push the limits of what is possible in decentralized finance.
One of the most integral functions of any perps dex is order settlement, and to accomplish this, we must rely on an oracle to get price feed data for every trade. In the earlier builds of Pika, we used an in-house oracle as our primary settlement tool, but with our version 4 released this past July, we were proud to integrate Pyth’s price feeds in order to make our platform even more decentralized, trustless, and permissionless.
During the past year our collaboration with Pyth has been a great success, and recently Pika was honored to be chosen to receive 500,000 newly minted PYTH tokens as part of the Pyth Network Retrospective Airdrop program.
How will we use these tokens?
Our PYTH tokens will be an vital element in enabling us to realize our mission to build out DeFi on Optimism and to bring new financial tools to users around the world. We plan to use this allocation to grow the protocol and fund the development efforts of the platform.
Integration with Pyth price feeds
Price-feed oracles are a core component of modern DeFi protocol infrastructure, and in 2024, the oracle space is getting more competitive than ever before. From the many available solutions, we chose to integrate Pyth into v4 of our perpetuals platform because of their wide selection of price feeds, ease of integration, and excellent support from their capable team.
The benefits of integrating Pyth’s oracles to our platform have been many:
- Low latency updates for all price feeds
- Competitive fees due to their pull-oracle design
- A large and ever expanding selection of price feeds covering crypto, forex, commodities, and more
- Multiple blockchain options provide opportunity for future growth
Experience Pyth for yourself on Pika Protocol
Enjoy the speed, power and stability of Pyth by using Pika Protocol to trade perpetuals 24 hrs a day, 365 days a year. Powered by Pyth, we offer a seamless, straightforward trading experience, with a diverse range of asset pairs, some of the highest leverage available on Optimism, and industry leading low trading cost.
If you’d like to learn more about Pyth or join their community:
Website: https://pyth.network
Price Feeds: https://pyth.network/price-feeds
Docs: https://docs.pyth.network
Twitter: https://x.com/PythNetwork
