TechFlow reports that Pika Protocol, a decentralized perpetual contracts protocol in the Optimism ecosystem, announced it will discontinue the PIKA token based on community feedback and will continue operating and developing the protocol without a native token.
PIKA holders can redeem their tokens at a fixed rate of 0.0001632 ETH per PIKA, equivalent to $0.34, using the remaining TGE funds (3,538 ETH).
Pika Protocol has deployed all ETH into Uniswap v3, with a six-month redemption period. Any remaining liquidity after this period will be used for protocol development.
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