Pika Protocol
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Compare with other Stablecoins
PIKA’s unique derivatives backed design makes it a stablecoin that avoids the shortcomings of other protocol designs. PIKA avoids the centralized risk of USDT and USDC, requires less collateral compared to DAI, achieves a stronger peg than ESD and Basis Cash, has a more battle tested model than Frax and Fei. In addition, it has the benefits of yield bearing without the need to stake.
Among all the current stablecoins, fractional collateralized algorithmic stablecoins are the most interesting ones to compare and we believe it will have a promising future, but it needs time to iterate and to be proven. In comparison, the advantage of PIKA is that its design has been battle tested in crypto perpetual exchanges for many years.
Stablecoin market is huge. As of Feburary 2021, total market capitalization of stablecoins surpassed $50 billion. Since the currently market are dominated by fiat backed stablecoins such as USDT and USDC, there's a big opportunity for DeFi native stablecoins and this won't be a zero-sum game. We look forward to a future where multiple DeFi native stablecoins take off.
Last modified 6mo ago
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