Pike is a universal liquidity market optimized for native assets.
Pike is a Universal Liquidity Protocol, it is designed to unleash utility for native assets by aggregating liquidity across blockchain networks.Pike’s vision is to become a universal liquidity layer that enables frictionless movement and accessibility of native assets across ecosystems.
Pike is built on top of Wormhole’s Cross-Chain Data Messaging and Circle’s Cross-Chain Transfer Protocol (CCTP).
One fundamental primitive of Pike is to enable users to supply native assets on source chains and borrow native assets destination chains without interacting with cross-chain bridges and handling wrapped assets
To understand why we created Pike, first let’s understand what are native assets. Native assets are tokens native to their respective blockchain networks. For example: ETH is a native token on Ethereum, OP is a native token on Optimism, GMX is a native token on Arbitrum, USDC is a native token on Ethereum, Avalanche, Base and Arbitrum.
Our observation is most native assets are currently under-utilized. Pike’s mission is to enable utility for native assets by introducing a universal liquidity layer where native liquidity can be accessed permissionlessly across chains and use cases. In order to achieve this, Pike’s approach is to minimize dependency on traditional token bridges and wrapped assets as they present common attack vectors.
Pike is built upon a new set of robust cross-chain messaging standard developed by Wormhole and Circle. Pike is positioned to redefine cross-chain primitives, starting with cross-chain borrow/lend application.
Pike is developed by NUTS Finance, a blockchain development lab specialized on building financial primitives on the blockchain since 2018.
No platform can be considered completely risk free. The risks related to Pike are: (i) smart contract risk. This is risk of a bug within the protocol code) (ii) liquidation risk. This is risk on the collateral liquidation process. See below for measures we have taken to control risk.