Wormhole-backed cross-chain liquidity provider Pike debuts testnet

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

In an X thread on Dec. 11, 2023, Pike said blockchain developers can now experiment with the protocol’s cross-chain functions using a testnet available on Ethereum as well as Goerli’s versions on Optimism, Arbitrum and Base. While no timetable is in place, Pike said other networks such as Solana, Monad and Fraxchain are also expected to be supported by the protocol.

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With the testnet, Pike Finance’s users can explore such functions as minting faucet tokens, depositing assets as collateral, borrowing, repaying loans and withdrawing funds. A spokesperson for the Pike team noted the current version of the testnet is still a “work-in-progress,” which means community members might still run into issues and errors.

The launch comes just a few weeks after Pike secured a $50,000 funding in USDC from Circle and Wormhole to help the protocol launch its mainnet in early Q1 of 2024. Pike Finance is a cross-chain liquidity provider, which implements a hub and spoke architecture to allow users to supply and borrow native assets on any supported chains.

Read more: Wormhole raises $225m after split from Jump Crypto
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