Wormhole-backed cross-chain liquidity provider Pike launches testnet

Wormhole-backed cross-chain liquidity provider Pike launches testnet

Cross-chain liquidity provider Pike Finance has announced the launch of its Ethereum testnet and layer 2 solutions.

In a December 11, 2023 . While there is no timetable, Pike said other networks such as Solana, Monad, and Fraxchain are also expected to support the protocol.

With the testnet, Pike Finance users can 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 could still encounter issues and bugs.

The launch comes just weeks after Pike secured $50,000 in 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, which implements a hub and spoke architecture to allow users to provision and borrow native assets on any supported chain.

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