pSTAKE is a liquid staking protocol built by Persistence that aims to unlock the liquidity of staked assets, whether Proof of Stake or DeFi staking assets.
Before the Persistence Core-1 chain and the $XPRT launch, we did a stakedrop campaign to distribute $XPRT to some high-quality staking communities. Anyone staking ATOM, LUNA, KAVA, and MATIC tokens could earn $XPRT before the $XPRT generation event. The Stakedrop Campaigns were a massive success, with more than $1B worth of staked assets across the chains mentioned above participating in Stakedrop.
Today, more than 83% of the total $XPRT supply is staked, making it the network with one of the highest staking ratios in the cryptocurrency industry.
Our thesis with token distribution has always been about providing early token access to the best communities.
We will be launching pSTAKE via the Alpha Launchpad with 2% of the total genesis supply of $PSTAKE distributed to Alpha Finance stakeholders (1.65% to ALPHA stakers and 0.35% to the Alpha Launchpad team). Allocating a portion of the $PSTAKE supply would give pSTAKE a massive presence within the Ethereum DeFi community. ALPHA stakers are some of the heaviest DeFi users, and we believe that onboarding these users will play a vital role in the success of pSTAKE. With the synergies between pSTAKE and Alpha finance, it will be an exciting journey together.
The ALPHA finance team has been great support leading up to the launch of pSTAKE, and we expect to onboard an influx of users from the Alpha finance community.
About Alpha Finance Lab
Alpha Finance Lab is a DeFi Lab, and on a mission to build Alpha Universe. Alpha Universe includes the Alpha ecosystem, which consists of Alpha products that interoperate to maximize returns while minimizing risks for users, and other ecosystems incubated through the Alpha Launchpadincubator program.
Alpha Homora is Alpha Finance Lab’s first product and DeFi’s first leveraged yield farming product that also captures the market gap in lending, one of the key pillars of the financial system.
pSTAKE is a liquid staking protocol that unlocks liquidity for your staked assets. With pSTAKE, you can securely stake your Proof-of-Stake (PoS) assets, participate in protocol improvements and security to earn staking rewards, and receive staked underlying representative tokens (stkASSETs) which can be used to explore additional yield opportunities across DeFi.
At present, pSTAKE supports Binance Chain (BNB), Cosmos (ATOM), Persistence (XPRT), and Ethereum (ETH) networks’ native tokens, with a view to support more chains and assets in the future (SOL, and AVAX).
Developed by Persistence
Persistence is a Tendermint-based, specialised Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets. Persistence facilitates the issuance and deployment of liquid-staked stkASSETs, allowing users to earn staking rewards while participating in DeFi primitives, such as lending/borrowing and liquidity provisioning on DEXs.
Persistence aims to offer a seamless staking and DeFi experience for PoS (Proof-of-Stake) users and enable developers to build innovative applications around stkASSETs.