pSTAKE Finance is thrilled to launch its BTC Liquid Staking Solution today, July 29th, 2024.
This BTC liquid staking solution, accessible through the pSTAKE Finance dashboard, is built atop of Babylon’s security-sharing protocol and it provides a new way for users to deposit native BTC and begin generating yield on their assets.
To get started, head over to the pSTAKE dashboard at the following URL:
pSTAKE is taking a new direction as it ventures down the orange road on a mission to make BTC a yield-generating asset through an easily accessible and secure solution for everybody. The newly launched product helps make Bitcoin more capital-efficient by allowing users to deposit BTC into the protocol to earn a yield.
Let’s get into how.
pSTAKE BTC Liquid Staking V1 Goes Live: Deposit Today!
The launch of V1 of the mainnet is the first grand step in pSTAKE’s mission to provide yield to BTC holders.
By depositing BTC into pSTAKE’s, you retain the liquidity of your BTC while staking through yBTC, a yield-generating asset, which will be introduced in future versions of the solution.
The first version of the platform will allow users to deposit BTC into the protocol. For security reasons, pSTAKE has set its maximum cap at 50 BTC and will adjust the limits accordingly, so be sure to follow our social channels like Twitter and Telegram to stay up-to-date.
In terms of yields generated, pSTAKE will deposit as much BTC as possible when the Babylon security-sharing solution goes live in the coming weeks. Any yield generated through the Babylon protocol (direct incentives/points) will be passed straight to pSTAKE users. In addition to the yield generated by Babylon, the pSats Drop program provides another exciting source of yield.
It is important to note that withdrawals will be temporarily disabled in the initial version of our product. This measure is in place to ensure protocol robustness and will be lifted in the upcoming versions within the next month.
To learn more, take a look at our FAQs for the Bitcoin Liquid Staking platform.
Why Deposit BTC With pSTAKE?
pSTAKE has four years of expertise in creating liquid staking products and curating yield strategies. This newest product is now pSTAKE’s flagship product as it seeks to replicate what it achieved in the Cosmos nice and transfer it into the biggest cryptocurrency ecosystem.
With BTCfi on the rise, BTC holders are now searching for yield. pSTAKE provides access to that yield through Babylon’s innovative security-sharing protocol.
Overall, we’re thrilled to launch the first version of our BTC Liquid Staking solution and are excited to see this new orange road unfold.
“We’re thrilled to launch pSTAKE’s BTC Liquid Staking solution for everyone after a very successful semi-public testnet. Until the emergence of Babylon Bitcoin Staking protocol, there was no option to put the $1.5T+ Bitcoin sitting idle on the sidelines to any meaningful work. Today’s launch marks the start of making Bitcoin yield-generating with secure access to reliable Bitcoin yields in as few clicks as possible with pSTAKE.” – Mikhil Pandey, pSTAKE Co-Founder.
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.
