Pika V4 Goes Live On OP Mainnet

Quick Take

• Loopring deploys an L3 on Taiko’s Alpha-3 testnet.
• Pika Protocol V4 goes live.
• Flashstake introduces Flash 2.0.
• Polynomial launches a seasonal trading campaign.

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Optimism Highlights 🔴✨

Polynomial Launches Trading Season
Polynomial Protocol, a perpetual swaps exchange on Optimism, launched a two-month rewards program called Trading Season. The campaign features trading competitions, tiered Polynomial NFTs, and 300k OP tokens in weekly trading rewards from Synthetix. The campaign is live from July 4th through September 4th.

The end date also marks the end of Synthetix Perps trading OP token incentives. Users who trade on the protocol will earn 1 XP per dollar volume, 2 XP for advanced order volume, and 2 XP per dollar profit. Users with at least 100k XP points receive a boost in rewards and are eligible to participate in trading competitions.

Pika V4 Goes Live On OP Mainnet
Pika Protocol, a derivatives exchange native to Optimism, deployed the fourth iteration of its protocol on OP Mainnet. Pika V4 is an incremental upgrade from Pika V3 that introduces integration with a Pyth Network oracle for trustless order settlement. The integration enables low-latency trading and supports more trading pairs. The upgrade also supports single-transaction take-profit or stop-loss orders when opening or closing positions, the ability to add or withdraw margin for open positions, and support for non-liquidatable low-leverage positions. Pika will also launch a rewards incentive program later this month. Pika V3 users can migrate their balances to V4.

Loopring Deploys L3 On Taiko Alpha Testnet

Loopring, a ZK-rollup-based L2 network, deployed its own L3 chain on Taiko’s Alpha-3 zkEVM testnet. Loopring selected Taiko for building an app-specific layer for DeFi and NFT apps with low-cost transaction fees. The release is available on Loopring’s mobile application on iOS and Android. Loopring’s smart contract wallet allows users to bridge funds between Taiko L2 and Loopring L3. Users can also send, receive, and swap assets. Loopring provides users with an initial 0.1 testnet ether when activating an account. Loopring also plans to deploy its web dapp on L3 with more functionality to be added in the future.

Flashstake Introduces Flash 2.0

Fixed-rate yield protocol Flashstake unveiled Flash 2.0, a three-phase upgrade that introduces vote-escrowed tokenomics, simpler architecture, and governance. The upgrade will also consolidate yield into a single Mega LP by removing the use of fragmented fTokens. Flashstake also plans to direct control of all FLASH funds to its DAO. Users will be able to use veFLASH tokens to vote on time vaults in exchange for a percentage of real yield voting rewards. Flashstake also launched Flash 2.0 Fund, a pool of 7.5 million FLASH tokens allocated to lockers, early voters, and beta testers. Flashstake is currently live on Ethereum, Arbitrum, and Optimism.

Layer3 Launches Native Bridge

Onchain quest platform Layer3 launched a native bridge powered by Socket. Questors can now use Layer3’s native bridge to swap and bridge assets between 10 supported EVM chains. Socket is a bridge aggregator that provides APIs and plugins for dapp developers to build their own bridge using Socket’s liquidity layer.

Other Events

• EthCC MEV week.
• EthCC zkHacker House.