pSTAKE has integrated with Beefy Finance to enable compound interest strategies for stkBNB holders, allowing Beefy Finance users to access new DeFi strategies and maximise their liquid-staked holdings.
Beefy Finance is a decentralized, multi-chain yield optimizer built on BNB Chain that allows users to earn compound interest on their digital assets through various investment strategies and features. At the time of writing, the platform supports 16 blockchains and has $321M+ in TVL (Total Value Locked).
Auto-Compounding: Liquidity Providing
Users can deposit their BNB on Beefy Finance where 50% is instantly converted into stkBNB, which is then used to provide liquidity to PancakeSwap stkBNB/BNB farm. The protocol automatically sells earned rewards and reinvests them into the same pool to auto-compound.
This entire process is executed with a single transaction through the platform’s interface. This way, users can deposit and earn rewards by directly depositing BNB or stkBNB into Beefy’s vault, making everything smooth and seamless.
On the Horizon
pSTAKE is excited to be partnering with Beefy Finance’s team and will continue to innovate to bring more opportunities down the line.
About Beefy Finance
Beefy is a decentralized, multi-chain yield optimizer that allows its users to earn compound interest on their crypto holdings. Beefy earns high APYs with safety and efficiency in mind.
Through a set of investment strategies secured and enforced by smart contracts, Beefy automatically maximizes the user rewards from various liquidity pools (LPs), automated market making (AMM) projects, and other yield farming opportunities in the DeFi ecosystem.
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About pSTAKE
pSTAKE is a liquid staking protocol that unlocks liquidity for your staked assets. With pSTAKE, you can securely stake your Proof-of-Stake (PoS) assets, participate in protocol improvements and security to earn staking rewards, and receive staked underlying representative tokens (stkASSETs) which can be used to explore additional yield opportunities across DeFi.
At present, pSTAKE supports Binance Chain (BNB), Cosmos (ATOM), Persistence (XPRT), and Ethereum (ETH) networks’ native tokens, with a view to support more chains and assets in the future (SOL, and AVAX).
Developed by Persistence
Persistence is a Tendermint-based, specialised Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets. Persistence facilitates the issuance and deployment of liquid-staked stkASSETs, allowing users to earn staking rewards while participating in DeFi primitives, such as lending/borrowing and liquidity provisioning on DEXs.
Persistence aims to offer a seamless staking and DeFi experience for PoS (Proof-of-Stake) users and enable developers to build innovative applications around stkASSETs.
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