It’s official: The pSTAKE Community has passed the governance proposal to “Launch token utility mechanism to stake $PSTAKE and earn $BTC”. As a result, $PSTAKE Staking is now live with a simple premise: Stake $PSTAKE, get $BTC.
This guide will cover everything you need to know about how to stake $PSTAKE:
- Part 1: Connecting your wallet to the $PSTAKE staking interface.
- Part 2: Depositing $PSTAKE tokens into the staking module.
- Part 3: Unstaking $PSTAKE tokens.
- Part 4: Claiming BTC Rewards.
To get started, you will need the following:
- $PSTAKE on Base [[Follow this guide to bridge $PSTAKE to Base]].
- $ETH on Base to pay for gas.
Once you have both assets, you can start with the tutorial.
Part 1: Connecting Your Wallet to the $PSTAKE Staking Interface
This part of the guide covers connecting your MetaMask to the $PSTAKE staking interface. First, head over to the following URL;
https://app.btc.pstake.finance/pstake/staking
- On the pSTAKE Finance staking page, hit “connect wallet.”
- A notification panel will emerge, asking you to select a wallet. Hit “Metamask”:
- A Metamask wallet notification will appear, asking permission to connect the wallet to the pSTAKE Finance dApp. Hit “Connect”:
- Once connected, you should see your available $PSTAKE balance on the dashboard.
Part 2: Depositing $PSTAKE Into the Staking Module
Now that we’ve connected our Metamask to the pSTAKE Finance dashboard, we can deposit $PSTAKE into the staking module.
- Ensure “Stake” is selected on the dashboard:
- Using the interface, input the amount of $PSTAKE to stake and hit “Stake”:
- A Metamask notification will appear, asking you to confirm the transaction. Hit “Confirm”:
- When the transaction is confirmed, you will see a confirmation dialogue in the bottom right-hand corner to state that your stake transaction is complete:
That’s all there is to it; you have successfully staked $PSTAKE tokens and will earn $BTC rewards.
Once you’ve staked your $ PSTAKE, you’ll notice your pSATS rewards start accumulating instantly, displayed on the staking dashboard:
You can also view your current staking status by hitting the “Dashboard” option on the menu bar:
Part 3: Unstaking $PSTAKE
Unstaking $PSTAKE is as simple as staking. This part of the guide will cover how to unstake $PSTAKE from the dashboard.
NOTE: If you unstake $PSTAKE, you will forfeit all rewards generated during that season.
- Ensure that the “Unstake” tab is selected on the dashboard:
- Enter the desired amount of $PSTAKE to unstake and hit “Unstake”:
- A Metamask window will appear, asking you to confirm your transaction. Hit “Confirm”:
- When the transaction is confirmed, you will see a confirmation dialogue in the bottom right-hand corner to state that your unstake transaction is complete:
You will also notice a drop in your accumulated pSats rewards if you unstaked during the season:
That’s all there is to it. You have now successfully unstaked your $PSTAKE.
Part 4: Claiming BTC Rewards
There is a window period at the end of a season for claiming your BTC rewards. It’s crucial to claim your BTC during this window, as failing to do so means forfeiting your rewards for that season.
- When the claim window is open, head to the Staking Dashboard and hit “Claim” to start the process:
- A notification panel will emerge, allowing you to claim your rewards. The panel will highlight your rewards for the current season. It will also display the time window remaining to claim:
- When you are ready to claim your BTC rewards, hit “Claim pSats”:
- A Metamask wallet notification will appear, asking you to confirm the transaction. Hit “Confirm”:
- That’s all there is to it. Your BTC derivative rewards will be sent directly to your wallet.
NOTE: We used the PSTAKE staking testnet for the following screenshot, so the BTC derivative, in this case, is tcbBTC:
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.
