Overview
pSTAKE Finance is thrilled to announce its expansion of Bitcoin yields with BTC staking to Leather, one of the leading Bitcoin Wallets.
Leather is developed by Trust Machines (Co-founded by Muneeb who is also the Co-creator of Stacks L2), a team building the largest ecosystem of Bitcoin applications to maximize the value of the Bitcoin network.
Described as “the Bitcoin wallet for the rest of us”, Leather allows users to tap into the multilayered Bitcoin economy. Leather’s 100,000+ users can now access native $BTC yields on Babylon through pSTAKE for the first time.
pSTAKE Integrates Leather Bitcoin Wallet for BTC Liquid Staking
pSTAKE is a Bitcoin yield protocol, backed by Binance Labs. Accessibility to Bitcoin yields is a cornerstone of pSTAKE’s Bitcoin vision. pSTAKE focuses on giving its users one of the highers BTC yields through various reliable sources like Babylon’s BTC Staking with one of the simplest user experiences.
Leather is a highly popular solution for Bitcoin enthusiasts due to its comprehensive support of BTCfi products. It is widely used for $BTC transfers, Ordinals, Runes, and BRC-20 trading, $STX (native token of Stacks L2) staking and more.
Leather’s 100,000+ users likely consist of Bitcoin OGs that likely hold sizeable BTC and are hyper active in the broader Bitcoin Ecosystem.
“Leather is one of the most friendly to use Bitcoin Wallet with numerous usecases in the rapidly growing BTCfi landscape. We are excited and proud to be the first protocol to bring native yields with $BTC Staking to Leather. This will be a great opportunity for Leather’s 100,000+ users that are well-versed with other BTCfi primitives like Ordinals, Runes, BRC-20, and more.” – Mikhil Pandey, Co-founder, pSTAKE Finance
Bitcoin Yields with pSTAKE
pSTAKE is the first Bitcoin Yield protocol to integrate with Leather wallet.
pSTAKE Finance has already attracted well over 50 BTC in deposits to generate yield for its existing users. This Leather wallet integration will allow more users to participate, further democraticizing Bitcoin yields.
The first source of yield for BTC holders is generated through a collaboration between pSTAKE and Babylon, a trustless Bitcoin Staking protocol. Babylon has devised a route to turn BTC into a slashable asset, allowing it to be staked to secure other Proof-of-Stake chains in return for native token rewards.
Besides the various BTCfi applications, Leather users can now, for the first time, stake native $BTC with pSTAKE to earn yields on Bitcoin from Babylon Points, pSats (pSTAKE Points), yBTC (pSTAKE-issued LST) DeFi yields, and other Bitcoin yield sources in the future.
By offering Bitcoin yields to Leather users, pSTAKE is expected to have a lot of benefits like:
- Potentially more TVL and users
- Social visibility into the broader Bitcoin and Leather/Stacks Ecosystem
- Distribution to power users of Bitcoin Ecosystem and BTC OGs
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.
