pSTAKE has expanded its liquid staking support to Osmosis with the launch of stkOSMO, it’s first stkToken in Cosmos after stkATOM.
stkOSMO is a liquid staked token (LST) of Osmosis’ native token, OSMO issued by pSTAKE Finance. stkOSMO gives users the best of both worlds–OSMO staking rewards (from inflation, Osmosis taker fees, and transaction fees) and DeFi opportunities while maintaining liquidity.
stkOSMO differentiates itself from the current OSMO liquid staking landscape by:
- Decentralizing Osmosis with a new pSTAKE Chain Decentralization Strategy that will delegate stake across 75 validators based on an automated weighted mechanism considering parameters like Voting Power, Commission, Uptime, Governance Participation, and Slashing history
- Aligning the Osmosis Community with OSMO liquid staking
- Bringing innovative features like Flash Unstake to OSMO liquid staking
Shortly after, a Supercharged (concentrated) stkOSMO/OSMO pool will go live on Osmosis, incentivized with PSTAKE tokens. The initial priority remains to bootstrap deep stkOSMO liquidity. Post that, stkOSMO could find its way and get deep-rooted into the Osmosis DeFi Ecosystem with leading protocols like Quasar Finance (vaults), Mars Protocol and Umee (Borrowing/Lending), Levana Finance (Perpetuals), and more.
pSTAKE’s expansion to ecosystems is dependent on factors like liquid staking demand, benefits to pSTAKE, DeFi landscape, and clear differentiators that pSTAKE can bring.
Osmosis is the DeFi and liquidity hub of Cosmos, a natural first choice for pSTAKE’s expansion in Cosmos. stkOSMO brings vital differentiators to the OSMO liquid staking landscape with extra efforts for Osmosis Decentralization and UX improvements like Flash Unstake.Mikhil Pandey, Chief Strategy Officer, Persistence Labs
pSTAKE is a multi-chain liquid staking protocol that unlocks liquidity for your staked assets. With pSTAKE, you can securely stake your Proof-of-Stake (PoS) assets 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) and Cosmos (ATOM) networks’ native tokens, with a view to support more chains and assets like Osmosis (OSMO), DYDX, Persistence (XPRT), and Celestia (TIA) in the future.