$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 1:1 pegged tokens 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 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.
We have a bag full of new features and an exciting roadmap for the coming months, so be sure to follow pSTAKE on Twitter and hop onto our Telegram group and Discord channel to stay up-to-date with the latest developments.
Developed by Persistence
Persistence is enabling exposure to multiple asset classes such as Liquid Staking (pSTAKE), NFTs (Asset Mantle), and Synthetics (Comdex). Persistence ecosystem products are designed to stimulate global liquidity and enable seamless value exchange.
Persistence’s Core mainnet is a Proof-of-Stake chain powered by Tendermint BFT consensus engine. Persistence’s multi-chain tech stack (currently supporting Cosmos, Ethereum, and other Tendermint-based chains) abstracts away the complexities for developers and enables them to create DEXs, marketplaces, lending/borrowing platforms, etc.