Strike Plans STRIKE/USDCx Liquidity Incentives on Cardano

Strike Finance plans to add liquidity and reward liquidity providers in the STRIKE/USDCx market on Cardano, the first step in a 12-month plan to expand where its token trades. The team expects the incentives to go live within 24 hours of its announcement. According to Strike, STRIKE/ADA still accounts for most of the token’s liquidity.

Strike wants a deeper dollar market on Cardano

Cardanoscan recorded a swap of 8,500 STRIKE for approximately 9,333 USDCx on June 15. Strike’s announcement focuses on adding liquidity and incentives to a pair that has already traded onchain. The team did not identify the DEX that would host the incentives or disclose the initial deposit, the size of the rewards, or how long they would run.

USDCx is a Cardano stablecoin backed by USDC held through Circle’s xReserve infrastructure. The direct pair lets users move between STRIKE and a dollar-denominated asset without an intermediate swap into ADA. If the pool attracts enough liquidity, it could also absorb larger trades with less price impact.

For Cardano DeFi, the test is whether the pair keeps attracting trades after the rewards end. A large initial deposit would give the market depth at launch. Sustained trading volume and liquidity would show whether STRIKE/USDCx can serve as a second active market alongside STRIKE/ADA.

Ethereum expansion hinges on a bridge and a liquid ETH pair

Strike is in talks with several bridge providers to bring STRIKE to the Ethereum ecosystem, where it aims to establish a STRIKE/ETH market on decentralized exchanges. The team indicated that this phase could be completed in the coming weeks. The bridge provider, supported networks, and launch date remain open.

A bridge would make STRIKE transferable to a supported network. Trading there would also require liquidity on an Ethereum DEX. How much liquidity Strike can attract will determine the size of trades the market can handle and the price impact users can expect.

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Kraken Pro DEX and in-app purchases are still under review

Strike is exploring whether Ethereum liquidity could make STRIKE accessible through Kraken Pro’s DEX interface. The feature routes onchain trades on supported networks, including Ethereum and Base, separately from Kraken’s exchange spot listings. Strike has yet to confirm availability through Kraken Pro DEX.

The team is also considering spot purchases within the Strike app. Under the proposed setup, users would buy STRIKE in the app and receive it in a supported wallet on their chosen network. The implementation, supported networks, and rollout timing remain open.