In our previous blog, we talked about our thesis that BNB liquid staking will be as big as ETH liquid staking with the potential to cultivate an $85B+ ecosystem. Today, as we stand at the cusp of this cycle, our predictions are not merely unfolding; they are accelerating, with pSTAKE at the forefront of this journey. pSTAKE is on a mission to become the biggest Liquid Staking Provider on the BNB chain.
pSTAKE’s initial BSC Thesis has played out very well with the early bet it took in 2022 by launching liquid staking in partnership with Binance Labs. In 2024, pSTAKE envisions the BNB liquid staking market to grow parabolically and is accelerating at light speed to become the biggest BNB liquid staking protocol.
More Yield. More TVL. More Traction.
But, as we chart this path of unprecedented growth and potential, let’s revisit the core of BNB liquid Staking by pSTAKE.
Despite the BNB chain’s stature as one of the largest Proof of Stake (PoS) ecosystems, a modest staking ratio of around 15% underscores a prevalent dilemma among BNB holders: the choice between staking and locking your tokens or using it in DeFi.
pSTAKE emerges as a beacon of innovation in this context, harmonizing the benefits of staking and DeFi, thereby eliminating the need for compromise.
Let’s refresh our memories and explore everything you need to know about stkBNB.
stkBNB: pSTAKE’s Staked BNB
In Q3 2024, pSTAKE launched BNB Liquid Staking in a strategic partnership with Binance Labs and became the premier liquid staking provider in the BNB chain ecosystem.
BNB Liquid Staking on pSTAKE allows users to unlock the liquidity of their staked assets while enjoying the best of both worlds — Staking and DeFi.
To date, stkBNB stands as a testament to security and integration excellence within the BNB chain ecosystem. This achievement is a direct result of pSTAKE’s commitment to innovation, security, and a network of DeFi partnerships that enhance the utility and accessibility of stkBNB.
Features of BNB Liquid Staking on pSTAKE
Auto-Compounded Staking Rewards
pSTAKE transforms the BNB staking experience by introducing auto-compounded rewards, eliminating the need for manual intervention. Traditional on-chain staking methods defer reward compounding until the total rewards exceed 1 BNB. In contrast, pSTAKE streamlines this process, allowing for continual capital efficiency without user action. The rewards, sourced from BNB chain transaction fees, fluctuate with network activity. With pSTAKE, these are compounded automatically every epoch (24 hours), ensuring that your staked BNB works relentlessly to earn rewards.
Zero Staking Barrier
Staking on the native chain comes with its limitations, notably a 1 BNB minimum. pSTAKE dismantles this barrier, welcoming any amount of BNB for staking. Your investment is allocated to a curated selection of secure, high-performing validators, optimizing returns without the traditional entry constraints.
Instant Liquidity and Flexibility
The conventional 7-day unbonding period is a significant liquidity bottleneck for BNB stakers. pSTAKE offers a seamless solution by providing stkBNB tokens in exchange for staked BNB, granting immediate liquidity. This innovative approach enables users to freely exchange stkBNB for BNB or other assets, bypassing the unbonding wait and offering unparalleled flexibility in asset management.
Enhanced Yield through DeFi Integration
pSTAKE not only simplifies staking but also amplifies the capital efficiency. Holding stkBNB opens a gateway to diversified yield opportunities across the BNB Chain’s DeFi ecosystem.
By addressing the core challenges of conventional staking—accessibility, liquidity, and yield—pSTAKE’s BNB Liquid Staking emerges as a compelling choice for investors seeking to maximize their yield.
stkBNB Security Measures
Security has always been the highest priority for pSTAKE. Below is a list of the measures being implemented to ensure the top-notch security for our BNB liquid staking implementation:
- Security Audits: stkBNB’s smart contracts have undergone three security audits by Peckshield, Halborn, and Certora.
- Bug Bounty Program: pSTAKE partnered with Immunefi to launch an stkBNB bug bounty program, incentivising users and white-hat hackers to test the product and report any identified bugs, with up to $300k in rewards for those who successfully locate issues.
- On-Chain Tracking & Monitoring: pSTAKE has partners with Forta Network to implement on-chain tracking of malicious events associated and alert bots to monitor and flag suspicious activities associated with stkBNB.
- BNB Chain Testing Support: pSTAKE has worked closely with the BNB Chain team, where they’ve helped stress test the stkBNB product and code as an added layer of security verification.
Read more about our security measures on our blog: https://blog.pstake.finance/2022/08/04/stkbnb-security-partners-measures/
stkBNB DeFi Partners
Since its inception, stkBNB has carved out a distinct position within the BNB chain ecosystem, establishing itself as one of the most extensively integrated liquid staking tokens. Recognizing that liquidity is the backbone of any successful DeFi token, pSTAKE is redoubling its efforts to ensure that stkBNB becomes the most liquid BNB LST, setting new benchmarks for accessibility and utility.
Here’s the current BNB liquid staking landscape:
| DeFi Protocol | Type | Specifics |
| Pancakeswap | DEX | stkBNB-BNB v3 Farm + PSTAKE and CAKE emissions |
| Thena | DEX | stkBNB-BNB v2 Farm + PSTAKE and THE emissions |
| Wombat | DEX | Single side stkBNB pool |
| Beefy | Vault | stkBNB-BNB Thena LP vault |
| Venus | Money Market | Borrowing / Lending |
| Midas Capital | Money Market | Borrowing / Lending |
| Open Ocean | Money Market | Margin trading and leverage staking |
| Helio / ListaDAO | Destablecoin | Borrow lisUSD |
stkBNB Wallet Partners
At the core of the pSTAKE protocol lies a profound commitment to user experience. By forging partnerships with the leading BNB wallets, pSTAKE has significantly expanded accessibility, ensuring that a wide array of users can easily explore BNB liquid staking. Our notable partners include:
Metamask, Binance wallet, Trust Wallet, Math Wallet, OKX Wallet, Coin 98 Wallet, SafePal, Coinbase Wallet, Token Pocket, and more.
What’s next?
pSTAKE is on a mission to become the leading liquid staking provider within the BNB chain ecosystem. Central to this mission is our focus on three pivotal elements: liquidity, utility, and integration. Our roadmap of planned integrations and diverse use cases aims not only to enhance stkBNB’s allure but also to solidify its pivotal role in enabling secure, flexible, and efficient DeFi use cases.
Full throttle mode ahead!!
About pSTAKE
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 (Tokens) which can be used to explore additional yield opportunities across DeFi.
At present, pSTAKE supports Cosmos (ATOM), Binance chain (BNB), dYdX network (DYDX), Osmosis (OSMO), with the support for Stargaze (STARS) and Persistence (XPRT) in the future.
