We’re thrilled to announce our latest partnership with Wombat Exchange to integrate seamless swaps between stkBNB and BNB using their sidepool architecture, in addition to stkBNB single-sided liquidity providing for yield opportunities.
Wombat Exchange is a stableswap protocol and 3rd largest DEX built on BNB Chain offering liquidity pools, low slippage, and single-sided staking where users can maximise their DeFi yields. The platform currently has $151M+ in TVL (Total Value Locked) and support for 5 tokens, continuing to grow.
Token Swaps: Sidepools
Users can now swap stkBNB for BNB through Wombat’s sidepools, enabling the seamless exchange of both assets.
Wombat’s liquid-staked token swap mechanism lets users provide single-sided liquidity with their stkBNB to receive LP tokens, which can be staked to earn additional WOM and PSTAKE rewards. Users can also benefit from high-volume trades and low slippage on the Wombat Exchange platform.
High Liquidity
The team at pSTAKE will deploy pools with high liquidity, allowing users to carry out more efficient arbitrage opportunities while maintaining stability between Wombat’s and the market’s exchange rate.
Having high liquidity is also critical to help drive integrations with other borrowing and lending protocols.
Now Live
Our integration with Wombat Exchange is now live – users can begin liquidity providing and swapping to maximise opportunities with their stkBNB.
As we continue to march forward with our partnership, we look forward to further collaborations and initiatives.
About Wombat Exchange
Wombat Exchange is a stableswap protocol built on BNB Chain and backed by Binance Labs with open-liquidity pool, low slippage, and single-sided staking. The platform brings greater capital efficiency to fuel DeFi growth and adoption.
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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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