pSTAKE is rewarding its early Bitcoin Liquid Staking adopters to celebrate crossing $1M TVL. All existing and new BTC depositors will share up to 100,000 $PSTAKE tokens.
Cherry on top? Get hassle-free exposure to the upcoming Babylon launch.
Our early adopters who deposit BTC before 23:59:59 21 August 2024 into pSTAKE’s BTC Liquid Staking solution will receive $PSTAKE token rewards alongside boosted pSats (points) and any rewards from Babylon.
Stake Bitcoin Now: https://app.btc.pstake.finance
Here’s everything you need to know about the pSTAKE Babylon Rush.
How are $PSTAKE rewards calculated?
pSTAKE is sharing 100,000 $PSTAKE tokens with its early adopters that deposit BTC. With pSTAKE’s 50 Bitcoin Deposit Cap (set for protocol security reasons), campaign period, and other factors considered this yields in a ~10% APR (only for educational purposes and rewards may vary).
We have tailored our UI to show the estimated $PSTAKE rewards received when someone enters the amount to stake, allowing them to visualize their expected rewards easily.
Existing users can also see their $PSTAKE rewards in the dashboard section.
When will I receive $PSTAKE rewards?
In the coming days, pSTAKE will add functionality for users to link their Bitcoin address to an EVM address with a simple message signing their Bitcoin Wallet and Metamask.
Rewards will be distributed following the end of the campaign within 3 weeks.
Why Liquid Stake Bitcoin with pSTAKE directly instead of staking on Babylon?
There are several compelling reasons to be liquid staking BTC directly with pSTAKE instead of staking BTC on Babylon. Here are the most important reasons:
- Potentially save on fees
When depositing BTC into Babylon, users are required to pay a transaction fee. Individually, you might pay more fees if you deposit to Babylon directly due to the number of users that will actively try to deposit BTC into the platform as soon as it opens.
- More rewards
Users depositing on pSTAKE can potentially receive more rewards by utilizing pSTAKE’s liquid staking solution.
Those depositing on pSTAKE stand to earn yield rewards from Babylon, generated through its security-sharing protocol. In addition, users depositing on pSTAKE also get boosted pSats (points) alongside the additional $PSTAKE rewards as early adopters.
- Easier UX
When depositing directly through Babylon, users are required to choose their finality provider. The finality provider chooses which PoS chains your BTC deposit will secure, earning you rewards.
Depositing on pSTAKE gives a better UX without having to deal with the hassle of having to figure out which is the best finality provider to choose. Instead, users can deposit BTC into the liquid staking solution and let pSTAKE use its superior technical knowledge of PoS chains to select the most optimal finality provider.
pSTAKE will implement a unique delegation mechanism that actively cycles between finality providers to optimize for higher yields, further increasing the yields generated through BTC staking on Babylon.
- Possibly Higher Chance of Entry
Babylon will launch its BTC staking solution with a deposit cap in place.
As a result, it won’t be easy to ensure that your BTC deposit is one of the first to be deposited into the BTC staking solution before Babylon’s hard deposit cap is reached.
Instead, pSTAKE will try its best to deposit as much BTC as possible into Babylon by batching UTXOs to save on fees. Although no one can promise how much BTC gets into Babylon, users will receive Babylon rewards pro-rata besides pSats and $PSTAKE rewards.
- Benefits of Liquid Staking in the future
While V1 of pSTAKE’s BTC liquid staking solution only supports deposits, the incoming future versions will provide so much more.
pSTAKE will introduce yBTC – the yield-bearing BTC liquid staking token. yBTC will accrue value from the rewards generated, with a no-click BTC auto-compounding feature that will automatically recycle rewards into the deposit to generate more rewards in BTC.
Furthermore, liquid staking further benefits pSTAKE depositors as yBTC can generate additional yields through DeFi and other protocols’ points through additional integrations in the future.
Feel the pSTAKE Babylon Rush today
pSTAKE’s Exclusive Rewards for Early Adopters of Bitcoin Liquid Staking are now live, allowing users to get $PSTAKE tokens for BTC deposits.
Only the deposits before 23:59:59 UTC 21 August 2024 are eligible for rewards.
Stake BTC now: https://app.btc.pstake.finance
About pSTAKE Finance
pSTAKE Finance is a Bitcoin Yield and Liquid Staking protocol, backed by Binance Labs.
With pSTAKE Finance, users can liquid stake BTC to get rewards from Babylon’s Trustless BTC staking for securing other app chains while maintaining their liquidity.
Accessing Bitcoin yields should not be complex, risky, or unsafe. With four years of liquid staking expertise and expert-curated yield strategies, pSTAKE Finance helps individuals and institutions put their BTC to work in BTCfi.
pSTAKE Finance has partnered with leading blockchain security firms, such as Halborn, Hexens, Oak Security, Immunefi, Forta, and more, to offer a secure liquid staking product suite.
PSTAKE is the governance and incentivization token of the pSTAKE Finance protocol. It has some of the most prominent investors, including Binance Labs, DeFiance Capital, Spartan Group, Coinbase Ventures, and Kraken Ventures.
