We’re pleased to announce that pSTAKE has integrated with Forta Network, a decentralized monitoring network, to enable on-chain tracking of all movements related to our stkBNB product.
Forta Network provides real-time security and operational monitoring to help detect critical threats and bugs with blockchain and Web3 protocols. At the time of writing, $36B+ in TVL (Total Value Locked) is overseen and monitored by their platform.
The team at Forta Network has built and deployed alert bots that will continuously run and monitor the stkBNB product to flag abnormal transactions and immediately report them to our team.
Three Forta detection bots are now monitoring pStake’s deposits, withdrawals, mints, burns, and more to protect the protocol’s users.
All reported threats and bugs will be visible to everyone via Forta’s dedicated pSTAKE dashboard.
Security remains of the utmost importance to the pSTAKE team. This integration with Forta Network will dramatically improve our ability to not only detect malicious threats to our protocol but will also enable quicker response times to solve any potential issues.
About Forta Network
Forta is a decentralized network that delivers real-time intelligence on the security and health of Web3 core infrastructure and dApps. Protocols, DAOs, investors, and individuals can use Forta to receive key insights security, financial, operational, and governance-related events on L1s, L2s, and sidechains.
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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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