PIKA Token

Pika Protocol has a two tokens: PIKA and Escrow PIKA(esPIKA)

PIKA is the utility token of Pika Protocol:

• PIKA can be staked to access 30% of platform trading fees.(PIKA is locked for 14 days for staking)

• PIKA can be staked to get trading fee discounts.

• PIKA could also be the gas token of future PIKA Chain built on top of OP Stack.

Escrow PIKA(esPIKA) is a non-transferable token that can be vested for one year to unlock PIKA. The lock-up mechanism will begin with a 90% fee for vesting PIKA which will decay linearly to zero. Any fees for redeeming earlier than one year will be sent to the treasury growth fund. After one year, esPIKA becomes 1:1 with PIKA.

PIKA Supply

PIKA has a total supply of 100m and and initial circulating supply of 19 million following the token generation event(TGE).

19%: Token generation event

30%: Future platform rewards for liquidity providers, traders and PIKA stakers. All rewards are distributed as esPIKA over next 3 years. The reward tokens are held in a vesting contract with a three-year linear vesting schedule. They will be distributed periodically once they have been unvested.

20%: Growth fund for exchange liquidity, operations, grants and marketing. 6% is to provide exchange(DEXes and CEXes) liquidity after TGE and the rest is linearly vested over next 3 years

20%: Core contributors and advisors(vested linearly over 2 years)

11%: Retroactive and future airdrops(distributed as esPIKA)