Strike

The STRK token serves as both a governance and utility token within the Strike protocol, with key functions including:

• Governance:

  • STRK holders can propose and vote on protocol changes, such as adjustments to interest rate models, the addition of new supported assets, and updates to platform rules.

• Incentives:

  • Users who supply or borrow assets on the platform are rewarded with STRK tokens, encouraging participation and increasing liquidity in the ecosystem.

• Community-driven Development:

  • By integrating governance and incentives, STRK ensures that the protocol’s development and operations are actively shaped by its community of token holders.

Interest rates in Strike are algorithmically determined based on the supply and demand dynamics of each asset within the protocol. As more users supply or borrow a particular asset, the interest rates adjust accordingly to maintain market equilibrium. This mechanism ensures that the protocol remains efficient and responsive to market conditions.

Although 'STRK' was the ticker assigned at the deployment of the Strike token's smart contract, it is already in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this pre-existing association and to avoid confusion in the marketplace, the alternative ticker 'STRIKE' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.