PSTAKE (PSTAKE)

What Is PSTAKE?

pSTAKE is a liquid staking solution that unlocks the potential of staked PoS assets (e.g. ATOM). PoS token holders can deposit their tokens on the pSTAKE application to mint 1:1 pegged ERC-20 wrapped unstaked tokens, which are represented as pTOKENs (e.g. pATOM) that can then be transferred to other wallets or smart contracts on the Ethereum network to generate additional yield.

Currently, pSTAKE issues 1:1 pegged ERC-20 liquid staking representative tokens on the Ethereum network, with a long-term aim of building a multi-chain protocol issuing liquid staked representatives on multiple networks including the Persistence Core-1 chain.

PSTAKE Unique Features

Most stakers of PoS based tokens are long term believers in the projects’ vision. It is already established that staking is much more beneficial than simply holding tokens; HODLers are continually diluted as new tokens are introduced into the supply through block rewards which are distributed to stakers, essentially rewarding them for securing the network.

However, this long term belief comes at the expense of liquidity; staking positions are illiquid in nature. Though stakers earn block rewards (often referred to as staking rewards) for providing security to the network by participating in the consensus and governance of a chain, stakers cannot use their staked assets for any other purposes because they are locked up on the network.

This is where pSTAKE comes in. pSTAKE creates liquid staked positions by issuing 1:1 pegged representatives against its users’ staked assets. These staked representative tokens can then be used in various DeFi applications to generate additional yield.

pSTAKE has been meticulously designed to effectively address the challenges faced by PoS stakers and improve the end-user experience to drive mass adoption. Let’s explore this in detail.

Roadmap

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PSTAKE Token Economy

Wrap

pSTAKE wraps your native tokens into 1:1 pegged ERC-20 pTOKENs which allows you to use your PoS assets in the Ethereum ecosystem.

Stake

You can stake your deposited PoS assets by minting 1:1 pegged ERC-20 stkTOKENs. Assets staked through pSTAKE are delegated to a set of safelisted validators of the underlying network. These assets are staked across multiple validators to minimize slashing risks and optimize for higher staking rewards. stkTOKENs are fungible in nature and slashing risks are shared across all pSTAKE users.

Insurance Fund

In the near future, assets delegated to pSTAKE’s safelisted validators will be safeguarded against slashing risks by an insurance pool which covers a portion or all of the slashed amount based on the severity of the slashing event.

Claim Staking Rewards

You can claim your staking rewards at any point in time. Staking rewards are claimed in the form of pTOKENs which can then be staked to compound staking rewards or be used to redeem an equivalent amount of the native PoS tokens. Transferring stkTOKENs to a different wallet address triggers an automatic rewards claim.

Liquidity and Instant Unbonding

You can skip long unbonding periods by swapping your stkTOKENs for other assets through liquidity pools on DEXes.

Generate Additional Yield

stkTOKENs can be used across various DeFi protocols in the Ethereum ecosystem to generate additional yield. This can be in the form of trading fees earned by supplying liquidity to a DEX, or more complex use cases such as borrowing and lending.

Detailed Token Metrics

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Token Distribution

Token Release Schedule

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Partners & Advisors

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Team Members

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Investors

Coinbase Ventures, Alameda Research, Sequoia Capital, DeFiance Capital, Galaxy Digital, Three Arrows Capital, Sino Global Capital, Spartan Group, Ajit Tripathi, Kraken Ventures, Tendermint Ventures, Lattice Capital, Stake-fish, everstake, Cosmostation, Chorus Capital, Do Kwon Terra, Darren Lau, Tascha Punyaneramitdee Alpha Finance, Figment Capital