Pheasant Network Launches First Quest Campaign

Pheasant Network made progress on its upcoming token distribution this week: **Key Developments** - Built test environment for $PNT token claiming - Continued designing $PNT tokenomics structure - Improved Sign-In with Ethereum (SIWE) implementation for token system - Participated in Optimism governance voting The team is focused on preparing the technical infrastructure for the $PNT token launch. Previous weeks saw the development of distribution APIs, dashboard design work, and contract reviews. Pheasant secured [$2M in seed funding](https://x.com/PheasantNetwork/status/1998682797255336067) in December 2025 to advance its AI-powered intent system for cross-chain operations. The protocol processed $3.2M in monthly volume across 14,125 transactions in December. The network supports bridging between Ethereum Layer 1 and various Layer 2 networks, with recent integrations including MegaETH Frontier Net and Unichain.

**Pheasant Network**, an optimistic bridge infrastructure, has cast its vote in Optimism governance. As an **Optimism RetroPGF grantee**, the network actively participates in the ecosystem's decentralized governance processes. This marks another instance of the project's ongoing involvement in shaping the Optimism ecosystem's direction through formal governance participation.

**Weekly Cross-Chain Rankings** Base maintained its position as the leading network for swap activity, marking its fourth consecutive week at the top. The rankings showed: **Top Performers:** - **1st:** Base - **2nd:** Arbitrum - **3rd:** BNB Chain - Notable mentions: Ethereum, Optimism, World Chain, and Mode This consistency in Base's performance reflects sustained user activity across the network. Arbitrum and BNB Chain continue to compete for second and third positions, while Ethereum maintains a steady presence in the top tier. The report emphasizes the growing diversity of blockchain networks, with several emerging platforms showing promise beyond the top seven. The cross-chain landscape continues to evolve as users distribute activity across multiple networks rather than concentrating on a single platform.

**Pheasant Network** made significant progress in its latest weekly update (November 24-30): - **MegaETH Integration**: Successfully integrated with @megaeth, expanding cross-chain capabilities - **Token Distribution Infrastructure**: Designed database architecture for upcoming token distribution system - **Product Updates**: Released enhanced relayer system and frontend improvements in [v4.23.0](https://docs.pheasant.network/ecosystem/release-notes#v4.23.0-enhanced-relayer-system-and-frontend-november-25) - **Roadmap Clarity**: Published updated [roadmap and focus areas](https://x.com/PheasantNetwork/status/1993867371279237435) for community transparency These developments build on previous work including the claiming page design and token distribution research from earlier updates.

**Base continues its dominance** in cross-chain bridge activity, securing first place for another consecutive week. **Top 5 Bridge Networks:** - **1st place:** Base - **2nd place:** Linea - **3rd place:** Unichain - **4th place:** Optimism - **5th place:** Arbitrum **Scroll** showed notable performance despite missing the top 5 rankings this week. The consistent rankings suggest **stable user preferences** across major Layer 2 networks, with Base maintaining its leading position in bridge transaction volume.