pSTAKE constantly strives for excellence and aims to set the industry standard when it comes to protocol security.
With our BNB liquid staking implementation (stkBNB) full product launch right on the horizon, we’ve been preparing and implementing all of the necessary measures to hit the ground running as smoothly as possible.
To that end, we’re partnering with several of the top blockchain security firms to undergo multiple audits and taking important security measures for our stkBNB implementation – keep reading to learn more.
Current & Ongoing Measures
Below is a list of the measures being implemented to ensure the top-notch security for our BNB liquid staking implementation:
Security Audits
The stkBNB smart contracts have undergone two security audits by Peckshield and Halborn to ensure everything was running smoothly and functional before the mainnet launch. Currently in the works is a formal verification by Certora to further solidify the security aspect of the code base.
These audits are part of our ongoing efforts to ensure and maintain the highest level of security.
On-Chain Tracking
pSTAKE is currently working on an integration with Forta to set up the continuous on-chain tracking of malicious events linked to our stkBNB product. We are also working to create and implement alert bots that will monitor and flag suspicious activities.
To bring more transparency to our community, all these activities and reports will be displayed on Forta’s dedicated dashboard for pSTAKE and on our website (soon to go live).
Bug Bounty Program
We’ve partnered with Immunefi to launch a bug bounty program for stkBNB that will go live in the week of mainnet launch. The program is designed to incentivise users and white-hat hackers to test the product and report any identified bugs.
The bug bounty program covers stkBNB’s smart contracts and apps and is focused on preventing the loss of user funds, denial of service, governance hijacks, data breaches, and data leaks. A user can receive up to $300k in rewards for reporting a bug (depending upon its severity).
Other rules and details for the bug bounty program including bifurcation of bugs based on impact, out-of-scope activities, etc. will be listed during the launch of the bug bounty program on Immunefi.
Check out our forum post here for more information.
Additional Measures
To take security a step further, pSTAKE has partnered with BNB Chain’s team to help ensure protocol safety through stress testing the product and code.
We’re now fully prepared to deploy our mainnet.
Commitment to Excellence
pSTAKE is fully committed to putting the necessary measures in place to bring the highest level of security to our protocol and liquid staking products. We’re proud to say that we’re one of the most audited liquid staking platforms and will continue to raise the bar regarding security.
Keep an eye out on our social media channels to receive the latest updates on our ongoing audits and security efforts as we progress.
About pSTAKE
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.
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