pSTAKE Finance (PSTAKE)

What is pStake Finance?

pSTAKE Finance is a staking protocol built by Persistence that unlocks the potential of Proof-of-Stake (PoS) coins. Holders can deposit assets to the pSTAKE app to mint ERC-20 tokens at a 1:1 ratio, expressed as pTOKEN.

Project highlights

pStake is a project of the Persistence blockchain, located in the Cosmos ecosystem. Unlike conventional liquid staking models, pStake currently uses a dual token model that allows users to use capital more efficiently.

When you deposit native assets into pStake, you will receive pTOKEN in return, then take away staking in supported protocols to earn more profits and receive a reward of pTOKEN.

On pStake, there are 2 types of tokens:

• pTOKEN: ERC20 tokens, not participating in staking. The system will automatically wrap and mint tokens in a 1:1 swap ratio. Example: ATOM ⇒ pATOM.
• stkTOKEN: As ERC20 tokens, when participating in pTOKEN staking, they will receive stkTOKEN on PoS platforms that integrate pStake. 1:1 swap ratio.

Note: Holding stkTOKENs will generate profits and receive rewards as pTOKENs. Meanwhile, pTOKENs need to be staking to make a profit.

Activities on pStake include:

• Wrap: pBridge will mint and burn tokens at a ratio of 1:1. For example: mint 1 pATOM ⇒ burn 1 ATOM.
• Stake: PSTAKE holders can stake the assets deposited into the system to mint stkTOKEN.
• Unstake: pStake allows you to unstake and get pTOKEN back immediately instead of taking a period of time (7 – 21 days, 21 – 30 days, …) like other protocols.
• Stake LP: pStake offers users the Stake LP feature, allowing stkTOKENs to both participate in other DeFi products and receive rewards. Remember to use DeFi protocols supported by pStake to receive rewards. Example: Pool: stkATOM/ETH on Sushiswap.
• Claim reward: You can claim reward at any time. Unwrap: Use the “withdraw” command to withdraw tokens to the wallet. However, you can only use withdraw command when you have unstake stkTOKEN and mint to pTOKEN.
• pBridge: A bridge between blockchains such as: Ethereum, Cosmos, Persistance,…. pBridge is a feature with fast transaction speed, decentralization, high trust, security and ability to face attacks on system errors.

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