- pSTAKE’s $PSTAKE public sale on CoinList attracted record demand, with 949,000+ unique registrants.
- 25M $PSTAKE tokens were sold and 20,000 sale participants are now token holders.
- The $PSTAKE TGE is taking place in February (further details to be announced).
- 25% of the total $PSTAKE airdrop will be distributed at TGE. Check if you’re eligible.
- Priorities moving forward include expanding pSTAKE’s liquid staking support to other major PoS chains and bootstrapping further DeFi use-cases of stkTOKENs.
pSTAKE’s native governance token, $PSTAKE, recently made its public debut on CoinList – an industry-leading platform that helps crypto projects to connect with new token holders. CoinList has previously hosted token sales for the likes of Solana (SOL), Filecoin (FIL), NEAR Protocol (NEAR) and Flow (FLOW).
The $PSTAKE token sale drew record demand, with over 949,000 unique registrations – the highest number of any CoinList sale to date. Just 45 minutes into the scheduled 6-day sale period, the tokens were sold out and the sale concluded.
5% of the total genesis supply (25M $PSTAKE) was allocated for the public sale, and there are now 20,000 new $PSTAKE holders who have collectively secured this pool. Holding $PSTAKE will soon give the ability to participate in governance of the pSTAKE protocol as we move forward.
While the primary intention of the sale was wide distribution of $PSTAKE tokens, we also wanted to take this opportunity to stand by our promise of incentivising early pSTAKE users to get involved with the pSTAKE ecosystem and contribute to the growth of the protocol. This was achieved via the priority queue, which 6000+ early pSTAKE users gained access to.
$PSTAKE TGE and Airdrop
For context, we recently announced a retroactive token airdrop to the critical stakeholders within the protocol’s ecosystem to ensure alignment of incentives and foster the protocol’s long-term growth. pSTAKE will allocate 6% of the token’s total genesis supply for various airdrops to be distributed based on the snapshots taken on 1200 HRS UTC, 2nd September 2021.
The $PSTAKE will be distributed via a retroactive airdrop to the following stakeholders:
- Early pSTAKE application users
- XPRT holders and stakers
- Persistence’s Cosmos Hub StakeDrop campaign participants
- ATOM holders and stakers
- Certain blue-chip DeFi token holders
If you’re an ATOM or XPRT holder/staker, early pSTAKE user, or select DeFi protocol user (including SushiSwap, Curve Finance and Aave), you may be eligible to participate in the $PSTAKE token airdrop.
With $PSTAKE’s TGE quickly approaching, now is the time to check your eligibility and participate if you haven’t already. To learn more about the $PSTAKE airdrop, please refer to the $PSTAKE Airdrop Explained article and check your eligibility here. There is also an airdrop-focused AMA below:
Onward Beyond the TGE
With our $10M strategic funding round previously concluded and our public sale successfully completed, we’re ready to push on with full vigour to bring liquid staking to the masses.
Now that uncapped support for both Cosmos’ $ATOM and Persistence’s $XPRT is live and gaining traction, will be continually expanding pSTAKE’s liquid staking support to other major PoS chains as we progress, including Ethereum 2.0, Solana and other Cosmos-based chains.
Other current focuses of the pSTAKE team include bootstrapping further DeFi use-cases of stkTOKENs (such as lending/borrowing, perpetuals, yield farming etc.), and establishing a Cosmos-based implementation of the pSTAKE protocol.
pSTAKE is unlocking liquidity for over $280B of staked assets, creating a more flexible environment, and developing more opportunities and utility for PoS assets. DeFi will never be the same again.
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.