Overview
The pSTAKE Incentive Program gives pSTAKE users holistic, forward-looking insights into PSTAKE incentives on various DeFi integrations across Cosmos, Osmosis, dYdX, Stargaze, Chihuahua, and BNB Chain. The majority of incentives currently are allocated for liquidity provisioning of stkTokens. LSTs (Liquid Staking Tokens) are powerless without deep liquidity against their base tokens. This is essential to meet the actual premise of liquid staking, liquefying a staked position.
pSTAKE Incentive Program April 2024
The pSTAKE Incentive Program April 2024 seeks to encourage the usage of stkBNB, stkATOM, stkOSMO, stkDYDX, stkSTARS and stkHUAHUA in DeFi applications such as lending and borrowing, stablecoin collateralization, and so on, while also making adequate provisions to ensure deep liquidity for them in their respective ecosystems.
The April 2024 summary table shows the incentives given to different protocols in Cosmos and BNB Chain ecosystems.
| Protocol | Ecosystem | DeFi | PSTAKE Incentive |
| Dexter – stkATOM/ATOM Pool | Cosmos | DEX | 185k PSTAKE |
| Dexter – stkDYDX/DYDX Pool | Cosmos | DEX | 100k PSTAKE |
| Osmosis – stkOSMO/OSMO Pool | Cosmos | DEX | 20k PSTAKE |
| Quasar – stkOSMO vault | Cosmos | DEX | 30k PSTAKE |
| ShadeSwap – stkATOM/ATOM Pool | Cosmos | DEX | 2.1k PSTAKE |
| ShadeSwap – stkATOM/SILK Pool | Cosmos | DEX | 2.1k PSTAKE |
| Dexter – stkSTARS/STARS Pool | Cosmos | DEX | 35k PSTAKE |
| Dexter – stkHUAHUA/HUAHUA Pool | Cosmos | DEX | 20k PSTAKE |
| Thena – stkBNB/BNB Pool | BNB Chain | DEX | 55k PSTAKE |
| Pancakeswap – BNB/stkBNB Pool | BNB Chain | DEX | 25k PSTAKE (variable) |
| Total | 474k PSTAKE |
Rationale
pSTAKE on Cosmos
stkATOM has ~$10 million in liquidity on various DEXs within the Cosmos ecosystem, such as Dexter, Osmosis, Astroport, and ShadeSwap. Over 50% of that liquidity exists on Dexter, the perfect fit for stkATOM liquidity due to its highly efficient Metastable pool offering. The incentives for stkATOM liquidity aim to sustainably deepen the token liquidity to make stkATOM more integrated into the Cosmos DeFi Ecosystem.
Additionally, Dexter serves as the liquidity base for stkDYDX and stkSTARS pools, where both pools are incentivized with PSTAKE incentives and give users a chance to maximize their yields. Additionally, by being on the Persistence chain, Dexter gives pStakers the best LSTfi experience in the Cosmos ecosystem. Liquid staking on pSTAKE and providing liquidity on Dexter takes only two transactions, saving time and effort.
stkOSMO (launched in December 2023) has recently gained progressive traction. Currently, stkOSMO has its liquidity base on the Osmosis DEX, which is also integrated with Quasar’s Dynamic Vault. In fact, stkOSMO is the first and only OSMO LST to have a vault on Quasar. The incentives for the stkOSMO/OSMO pool and vault will help grow its liquidity.
pSTAKE on BNB
stkBNB has about $1 M in liquidity on DEXs such as Thena and PancakeSwap. Diverse stkBNB liquidity helps cater to all user types, efficient trading activity, and peg maintenance.
pSTAKE Finance aims to become the leading liquid staking provider for the BNB chain. LSTs are nothing without deep liquidity. stkBNB is on its journey to become the most liquid BNB LST on Pancakeswap. pSTAKE Finance will incentivize stkBNB/BNB farm efficiently through PSTAKE bribes for the foreseeable future.
The incentives for stkBNB liquidity aim to maintain the current liquidity on Thena as stkBNB becomes more integrated into the BNB Chain DeFi Ecosystem. pSTAKE has plans soon to grow its presence in the BNB chain ecosystem and add more incentives to the older and newer integrations. By doing so, pSTAKE aims to provide the best LSTfi yield for BNB and gain more traction in the ecosystem. Check out pSTAKE’s Road to Traction plans for 2024 here.
Conclusion
Liquidity staking unlocks the liquidity of staked tokens & use cases in DeFi. stkTokens are nothing without liquidity against their underlying base token. The pSTAKE team will indefinitely provide guidance into where this liquidity and DeFi utility will exist, along with the PSTAKE incentives for achieving it. The pSTAKE Incentive Program blog posts give forward-looking insights into $PSTAKE incentives for the upcoming/current month.
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), Stargaze (STARS) and Chihuahua (HUAHUA).
