pSTAKE Finance is thrilled to announce that it has opened the doors for its second BTC Liquid Staking Deposit Cap, allowing users to start depositing BTC into the dashboard for liquid staking.
Users can now deposit BTC into pSTAKE Finance’s BTC Liquid Staking solution through the following link:
https://app.btc.pstake.finance
With the deposit cap now open, let’s review the first deposit cap and see what’s next for everybody depositing BTC into pSTAKE Finance.
pSTAKE Fills Deposit Cap One and Deposits 10 BTC Into Babylon
The pSTAKE BTC Liquid Staking solution aims to bring yields to BTC holders, turning BTC’s value proposition from a store of value into a new breed of yield-generating assets.
The first deposit cap for pSTAKE Finance was set at 50 BTC, and users wishing to start earning a yield on BTC filled the cap in just three weeks.
During those three weeks, pSTAKE Finance launched multiple campaigns to attract deposits, but the cap was filled quicker than we anticipated, demonstrating the growing popularity of BTC staking solutions.
First, we launched a campaign with Binance Web3 Wallet, allowing users to earn boosted pSats points for those depositing BTC into pSTAKE Finance directly through Binance Web3 Wallet.
Then, we continued to launch more opportunities for our users with the Babylon Rush Campaign, allowing users to gain no-click exposure to Babylon and share up to 100,000 $PSTAKE tokens in rewards.
The Babylon Rush campaign filled our cap ahead of time, allowing us to wait for Babylon’s launch to provide depositors with the first source of BTC yield.
Once Babylon opened in late August, pSTAKE Finance was ready and successfully deposited 10 BTC into the security-sharing BTC staking protocol during the frenzy.
pSTAKE Deposit Cap 2 Now Open: 150 BTC Max
The second deposit cap for pSTAKE Finance’s Liquid Staking solution is now live. This deposit cap is set at 150 BTC, allowing more users to deposit more BTC.
But with Babylon BTC staking going live, why would anybody want to deposit through pSTAKE Finance instead?
Well, pSTAKE Finance is offering a liquid staking solution, meaning depositors will retain the liquidity of their assets when yBTC (a yield-bearing BTC derivative) launches. When yBTC is integrated further into Ethereum DeFi products, it will open more opportunities for deposits to earn a higher yield.
In addition to yBTC, depositing through pSTAKE Finance also offers the following benefits:
- Saving on fees
Saving on fees is a huge deal. During the Babylon launch, there was a sudden surge in transactions, causing BTC fees to spike. As a result, if you weren’t happy paying exorbitant fees during that time, you wouldn’t have managed to get a BTC deposited into Babylon before it hit its limit.
- Easier UX
Depositing through pSTAKE also provides a better user experience. When depositing through Babylon, users are required to choose a finality provider to earn BTC yield. However, pSTAKE Finance uses its delegation strategy to handle this, making it much more straightforward for those looking to earn a yield on BTC.
- A Higher Chance of Entry into Babylon
Depositing through pSTAKE also provides a potentially higher chance of entry into Babylon. pSTAKE managed to get 10 BTC during the frenzy when Babylon launched, and we saved $7.5K on fees during that process.
- More Rewards
Finally, depositing through pSTAKE Finance also provides more rewards. Users will earn the following in rewards:
- pSats Points
- Babylon Points
- BTC yield
- More rewards!
Overall, we’re excited to be opening our second BTC cap up for our liquid staking solution and invite you to start earning on your idle BTC through liquid staking! We expect this cap to be filled as quickly as the first, so you’ll need to be quick to get your deposits in.
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.
