The pSTAKE Finance protocol governance has recently passed a proposal to depreciate its liquid staking assets in Cosmos as part of its strategic shift to the Bitcoin ecosystem.
Users can claim their underlying assets directly from the pSTAKE app once the respective unstaking is complete.
This guide will cover everything you need to know about how to claim your Cosmos-based assets:
- Part 1: Understanding the Deprecation Process
- Part 2: Claiming Your Cosmos-Based Assets from the pSTAKE App
- Part 3: Additional Actions for Users with DeFi Positions
- Part 4: Important Timelines & Recommendations
To get started, you will need the following:
– A wallet connected to the pSTAKE app.
– Any Cosmos-based assets previously staked with pSTAKE.
Once you have your wallet ready, you can proceed with the tutorial.
Part 1: Understanding the Depreciation Process
The depreciation process ensures that all Cosmos-based liquid staking assets on pSTAKE are phased out in an orderly manner. The process follows these key steps:
- Unstaking of All Cosmos Assets – All staked Cosmos assets will be unstaked by the pSTAKE protocol on behalf of users.
- Completion of the Unbonding Period – The unbonding period will conclude on following dates:
– OSMO: 26 February
– STARS: 26 February
– ATOM: 5 March
– HUAHUA: 5 March
– DYDX: 12 March - Claiming the Underlying Assets – Once the unbonding period is complete, users can claim their underlying assets through the pSTAKE app.
- Burning of Cosmos Assets – Upon successful claim, the Cosmos liquid staking assets will be permanently removed from supply.
With this process in place, users can now proceed to claim their assets.
Part 2: Claiming Cosmos-Based Assets from the pSTAKE App
Once the unbonding period is completed, users can claim their unstaked assets from the pSTAKE Finance app.
Follow these steps to claim your Cosmos assets:
- Go to the pSTAKE App
- Open your browser and navigate to: https://app.pstake.finance/cosmos
- Connect Your Wallet
- Click on Connect Wallet on the top right of the page.
- Select your preferred Cosmos-compatible wallet.
- Approve the connection request.
- Navigate to the Claim Section
- Once connected, go to the Claim section on the dashboard.
- You will see your available Cosmos-based assets that are ready to be claimed.
There are two ways to claim:
1. Individually claim every asset that you have staked
2. Claim all at once which are ready to claim
- Claim Your Assets
- Click the redeem button next to the assets you wish to retrieve.
- A wallet notification will appear asking you to approve the transaction.
- Confirm the transaction.
- Receive Your Assets
- Once the transaction is processed, the claimed assets will be sent directly to your wallet.
- You will receive a confirmation notification on the dashboard.
Part 3: Additional Actions for Users with DeFi Positions
If you have deployed Cosmos-based pSTAKE assets in any DeFi integrations, you must first remove your positions before claiming your assets.
- Check if your assets are deployed in DeFi protocols.
- Unstake or withdraw your assets from these platforms.
- Once withdrawn, proceed to claim your unstaked Cosmos assets from the pSTAKE app.
Part 4: Important Timelines & Recommendations
- No Hard Deadline – While there is no fixed deadline, it is recommended to claim your assets at the earliest convenience.
- No Further Rewards – Since all assets are unstaked, they will no longer accrue staking rewards. Claiming them early ensures you regain full control.
For any questions or further assistance, join the pSTAKE Finance Telegram community:
That’s all there is to it! You have now successfully learned how to claim your Cosmos-based assets from pSTAKE Finance.
Stay updated with pSTAKE Finance’s latest developments as we shift our focus toward Bitcoin liquid staking and BTCfi innovations.
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.
