PIKA Pika Protocol

Overview of Pika Protocol

Pika Protocol is a decentralized perpetual swap exchange that allows users to trade both crypto and non-crypto assets with leverage. Here are some key features and use cases:

Key Features

• High Leverage: Pika Protocol offers up to 100 times leverage on trades, enabling users to amplify their trading positions.
• Direct Wallet Trading: Users can swap tokens directly from their wallets without needing to deposit funds, making the trading process more straightforward.
• Low Fees: Built on the Optimism layer-2 network, Pika Protocol has significantly lower transaction fees compared to trading on the Ethereum mainnet.
• Deep Liquidity: The protocol provides nearly zero slippage for major pairs like ETH, BTC, and forex, ensuring efficient trading.
• Cross-Chain Bridging and Swapping: Users can bridge and swap assets across multiple EVM-compatible chains without leaving the platform.

Trading Capabilities

• Asset Support: Pika Protocol supports trading of both crypto and non-crypto assets, as long as there is a reliable price feed available.
• Order Types: The platform supports market, limit, and stop orders, including take-profit and stop-loss orders, which can be executed in a single transaction.
• Funding Mechanism: Pika has a funding mechanism to balance long and short positions, reducing risk for liquidity providers and incentivizing traders to maintain balanced positions.

Integration and Compatibility

• Liquidity Provision: The protocol uses an automated market maker (AMM) model, which minimizes the liquidity needed to start trading.
• Vault System: Liquidity providers back the protocol by staking in the vault, taking the opposite position of all traders and receiving trading fees, funding payments, and liquidation profits.

Additional Features

• Price Determination: Pika uses on-demand decentralized oracles like Pyth and Chainlink to determine mark prices, ensuring accurate and reliable pricing.
• Slippage Control: Users can set allowed slippage for each order, ensuring that trades are executed within specified price ranges.

Pika Protocol Overview

Pika Protocol is a blockchain-based token that operates on the Ethereum network as an ERC20 token. It offers various uses and has significant potential for growth.

Pros of Pika Protocol

• Utility: Pika Protocol serves as a utility token, facilitating seamless transactions across the network, enabling access to premium content, and acting as a “fuel” in the DeFi ecosystem.
• Security: Thanks to the inherent security features of blockchain technology, Pika Protocol tokens are secure and protected against third-party interventions or data manipulations.
• Decentralization: It removes the need for intermediaries, fostering faster transactions at reduced costs.
• Transparency: All transactions involving tokens are transparent, ensuring accountability and trust among participants.
• Integration with Decentralized Applications (dApps): Pika Protocol tokens can be integrated within dApps, enabling developers to create software applications with a variety of uses, from gaming to finance.
• Driving Liquidity: The token serves as a liquidity driver in the blockchain market, allowing for the creation of diverse portfolios and aiding in dispersing risk.

Cons of Pika Protocol

• Market Recognition: The market value of Pika Protocol is not widely recognized, which may affect its immediate growth potential.
• Scalability and Speed: Some blockchain protocols, including those used by Pika Protocol, may have limitations in terms of scalability and speed, which can affect the overall performance of the market.
• Dependence on Ethereum Network: As an ERC20 token, Pika Protocol's performance can be influenced by the Ethereum network's congestion and gas fees.
• Market Volatility: Like all cryptocurrencies, Pika Protocol is subject to market volatility, which can lead to significant price fluctuations.

Additional Information

• Website: https://www.pikaprotocol.com/
• Total Supply: 100,000,000 PIKA
• Market Cap: $0.00
• Fully Diluted Market Cap: $10.76M

Conclusion

Pika Protocol offers a unique blend of innovative features and potential for growth, making it a token worth watching closely. However, it is essential to consider its limitations and market dynamics when evaluating its potential.

Founders of Pika Protocol

The founder of Pika Protocol is Ethan, as mentioned in the KuCoin AMA session. There is no detailed information about other founders in the provided sources. However, it is clear that Ethan is the primary figure associated with the project.

Note on Different Pika Entities

It is important to distinguish between different entities named "Pika." The Pika Protocol discussed here is a decentralized leverage trading platform on Optimism, not related to other entities like Pika, a video creation platform, or the California Pika Consortium, which focuses on wildlife conservation.

Investors in Pika Protocol

• Funding Rounds: Pika Protocol has conducted fundraising rounds, with the most notable information available on platforms like DropsTab.
• Funds Raised: The project has raised $6.84 million by selling 19 million tokens.
• Investor Participation: Specific details about individual investors are not provided in the available sources. However, the fundraising statistics indicate a significant interest in the project.
• Key Statistics:
  • Tokens Sold: 19 million
  • Funds Raised: $6.84 million
  • Trade Launch Date: May 29, 2023

Halal Status of Pika Protocol

No, the halal status of Pika Protocol is not explicitly confirmed in the provided sources. The Islamic Finance Guru and Practical Islamic Finance reports do not include Pika Protocol in their lists of halal cryptocurrencies. Therefore, without specific information or a detailed analysis, it cannot be confirmed as halal.

Key Considerations for Halal Cryptocurrencies

• Project Purpose: The project itself must be halal, meaning it does not involve or promote activities prohibited by Islamic law.
• Usage and Utility: The token's use case and utility should align with Islamic principles.
• Compliance: The project should comply with Islamic financial regulations and ethical standards.

Further Research

For a definitive answer, it is recommended to consult with Islamic finance experts or refer to detailed halal crypto reports that specifically address Pika Protocol.