Wormhole-backed cross-chain liquidity provider Pike debuts testnet
Cross-chain liquidity supplier Pike Finance has introduced the launch of its testnet on Ethereum and its layer-2 options.
In an X thread on Dec. 11, 2023, Pike mentioned blockchain builders can now experiment with the protocol’s cross-chain features utilizing a testnet out there on Ethereum in addition to Goerli’s variations on Optimism, Arbitrum and Base. Whereas no timetable is in place, Pike mentioned different networks resembling Solana, Monad and Fraxchain are additionally anticipated to be supported by the protocol.
The @PikeFinance Testnet is stay!
Pike is a Common Liquidity Protocol powered by @wormholecrypto’s cross-chain message passing protocol & @circle’s Cross-Chain Switch Protocol (CCTP).
Native asset liquidity is changing into a actuality throughout chains! 🌪
🧵 pic.twitter.com/AghDCCwhk3
— Wormhole (@wormholecrypto) December 11, 2023
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With the testnet, Pike Finance’s customers can discover such features as minting faucet tokens, depositing property as collateral, borrowing, repaying loans and withdrawing funds. A spokesperson for the Pike workforce famous the present model of the testnet remains to be a “work-in-progress,” which implies group members would possibly nonetheless run into points and errors.
The $50,000 in $USDC funding will assist Pike launch its mainnet in early Q1 of 2024, in addition to our public Testnet in December this yr.
Join the testnet at: https://t.co/nT61IU7fy0
Be taught extra about Pike right here:https://t.co/v7SCKoNDdl
— Pike (@PikeFinance) November 22, 2023
The launch comes just some weeks after Pike secured a $50,000 funding in USDC from Circle and Wormhole to assist the protocol launch its mainnet in early Q1 of 2024. Pike Finance is a cross-chain liquidity supplier, which implements a hub and spoke structure to permit customers to provide and borrow native property on any supported chains.
Learn extra: Wormhole raises $225m after cut up from Bounce Crypto
