Cross-chain liquidity provider Pike Finance has announced the launch of its testnet on Ethereum and its layer 2 solutions.
In an While there is no timetable, Pike said other networks such as Solana, Monad and Fraxchain are also expected to be supported by the protocol.
The @PikeFinance Testnet is live!
Pike is a Universal Liquidity Protocol, powered by @wormholecrypto’s cross-chain message passing protocol and @circle’s Cross-Chain Transfer Protocol (CCTP).
Native asset liquidity becomes a reality across all chains! 🌪
🧵pic.twitter.com/AghDCCwhk3
– Wormhole (@wormholecrypto) December 11, 2023
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The testnet allows Pike Finance’s users to explore features such as minting faucet tokens, depositing assets as collateral, borrowing, repaying loans, and withdrawing funds. A spokesperson for the Pike team noted that the current version of the testnet is still a work-in-progress, meaning community members may still encounter issues and bugs.
The $50,000 in $USDC funding will help Pike launch its mainnet in early Q1 2024, as well as our public Testnet in December of this year.
Sign up for the testnet at: https://t.co/nT61IU7fy0
Read more about Pike here: https://t.co/v7SCKoNDdl
— Snoek (@PikeFinance) November 22, 2023
The launch comes just a few weeks after Pike secured $50,000 USDC funding from Circle and Wormhole to help the protocol launch its mainnet in early Q1 2024. Pike Finance is a cross-chain liquidity provider, implementing a hub and spoke architecture to enable users to natively supply and borrow assets on all supported chains.
Read more: Wormhole raises $225 million after splitting from Jump Crypto