$PSTAKE is the governance token of the pSTAKE protocol.
pSTAKE protocol unlocks liquidity for your staked assets. With pSTAKE, you can stake your assets, participate in protocol improvements, and secure the network to earn staking rewards, while receiving underlying assets which can be used to explore opportunities across DeFi.
Read about the $PSTAKE tokenomics below.
Role of $PSTAKE Token
$PSTAKE holders are incentivised to participate in the protocol’s governance to ensure its long-term success and security by staking $PSTAKE via the protocol.
- Participation in protocol improvement proposals through voting
- Participation in protocol security
In order to ensure long-term success of the protocol, the $PSTAKE token will be used to incentivise the core contributors of the pSTAKE ecosystem. $PSTAKE will also be used as a dis-incentivization token in case stakeholders staking the token act maliciously or are unable to perform their respective duties appropriately.
Token Distribution & Release Schedule
The total genesis supply of $PSTAKE will be 500,000,000 (500M).
The distribution is designed to maximize decentralisation of protocol governance, while adequately incentivising the core contributors of the long-term growth of the protocol.
Token Release Schedule
pSTAKE recently held a strategic funding round led by Three Arrows Capital, Sequoia India, Galaxy Digital, and Defiance Capital to bootstrap the liquid staking protocol.
Raised: $10M at $50M valuation [Price: $0.10]
Learn more and meet our investors here.
pSTAKE is holding a public sale on CoinList, with 25M $PSTAKE tokens (5% of the total genesis supply) allocated for the sale.
Raising: $10M at $200M valuation [Price: $0.40]
Registration deadline: Dec 13 at 23:59 UTC
Sale begins: Dec 16 at 18:00 UTC
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.