# Participate in Pika Protocol ## Take leverage positions Any trader who likes to take leveraged positions can long or short with Pika Exchange. ## Earn fees from holding PIKA Any person who likes to earn interests without exposing to the volatility can benefit from holding PIKA tokens to earn trading fees. ## Use PIKA as a stablecoin PIKA can also be minted to use as a stablecoin to transact or hedge the volatility. ## Arbitrage Arbitrageurs can profit from: * arbitraging price difference among Pika Exchange and other exchanges. * arbitraging across different markets within Pika Exchange. For example, the price of PIKA from ETHUSD market and BTCUSD market could be different, and people can profit from minting from one market and burning in another market. ## Earn fees from staking Stakers can benefit by * staking underlying tokens of each trading market to back the Pika Exchange. In return stakers earn part of the trading fees. * staking LP tokens of PIKA and PKS to earn part of trading fees and PKS tokens. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.pikaprotocol.com/archived/pika-protocol-v1/participate-in-pika-protocol.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.