In beta, the protocol allows users to natively deposit collateral on one chain while borrowing funds on another.
Universal liquidity protocol, Pike Finance has completed its mainnet launch, allowing users to borrow, lend, leverage and earn across DeFi.
It currently supports Ethereum and Layer 2 networks Base, Optimism and Arbitrum. DeFi traders can supply and borrow ETH, ARB, OP and USDC. Further chains, such as Solana, Monad, and Polygon, will be integrated later this year.
With interoperability a perennial obstacle for the crypto industry – a concern only heightened due to the inherent fragility of bridges – Pike aims to unite the fragmented blockchain ecosystem by aggregating liquidity across networks.
According to the team, Pike enables native asset transfers without needing to make use of cross-chain bridges or wrapped assets.
The protocol uses a triple architecture powered by Wormhole, a blockchain communications enabler, which serves as a relay between protocols. Circle’s Cross-Chain Transfer Protocol (CCTP) enables a burn and mint mechanism for USDC, along with Pyth Network oracles feeding real-time price data.
To protect the protocol and its users during the beta launch, the team has enforced a supply cap per wallet. Users cannot exceed the following thresholds for deposits: 0.1 ETH on Ethereum, 100 USDC on the four supported chains, 10 OP, and 10 ARB.