We’re pleased to announce our newest partnership with Midas Capital, enabling users to borrow BNB with stkBNB, BNB, or LP (liquidity provider) tokens.
Midas Capital is an innovative money market platform allowing users to create customized and isolated pools designed for the lending and borrowing of any asset. Users can develop modular, fully customizable pools by adjusting interest rate curves, oracles, collateral factors, and more.
This partnership aims to merge both ecosystems by using pSTAKE’s stkBNB liquid staking solution as a springboard to increase access to BNB borrowing on the Midas platform.
Start today: https://app.midascapital.xyz/56/pool/11
For more information on this recent collaboration and our future plans, read below.
Multi-Faceted BNB Borrowing
stkBNB & BNB holders can borrow BNB from the Midas Capital liquidity pool by directly providing liquidity with their assets or LP tokens received from pSTAKE’s stkBNB/BNB liquidity pool on PancakeSwap.
This presents a three-pronged method to borrow BNB, offering more opportunities for users to get involved.
Midas Capital’s pool currently offers LTV (Loan to Value) ratios on the following assets when used as collateral:
- stkBNB (75% LTV)
- BNB (75% LTV)
- stkBNB/BNB CAKE LP (75% LTV)
All LP tokens that are used as collateral will continue to earn LP staking rewards from stkBNB-BNB Beefy Vault while in the Midas pool, giving users the ability to borrow BNB but still receive passive income.
Get Started Today
Our stkBNB integration is live on Midas Capital. Users can start leveraging their LP tokens to borrow BNB and create more opportunities to earn from pSTAKE.
We look forward to working together down the line and enabling more utility for our communities.
About Midas Capital
Midas Capital allows users to create custom lending and borrowing pools for any group of assets that are isolated from other pools and assets within the protocol. Use any asset as collateral and optimize the capital efficiency of your holdings.
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.