It’s official. Institutional Bitcoin Staking is HERE!
pSTAKE Finance is thrilled to announce the launch of YBTC on the Ethereum network.
YBTC is a liquid staking token for BTC that makes BTC yield-generating while preserving Bitcoin’s core values and ethos through Self-custody
With YBTC live, let’s take a quick look into what it is and why we believe it will rise to the forefront of the BTCfi world.
What is YBTC?
YBTC is our proprietary liquid staking token for BTC that lets institutions stake their BTC on pSTAKE Finance while retaining liquidity of their assets. As a result, YBTC is a yield-generating variant of BTC that accrues rewards for holders while allowing institutions to have confidence and trust through self-custody.
Here are some essential things to know about YBTC:
- It is an ERC-20 token on the Ethereum network
- It is interoperable to chains like BNB Chain, Corn, and Bitlayer through a LayerZero integration
- It is yield-bearing in nature
- It is backed 1:1 by BTC through pSTAKE Finance’s BTC liquid staking platform.
Essentially, YBTC allows institutions to generate additional yields from DeFi protocols on Ethereum through Restaking, Yield Farming, and more! We believe YBTC has the potential to unlock $1.9T+ Bitcoin capital to allow institutions to earn native through staking on the Babylon Labs architecture and the additional DeFi yield sources.
Key Differences of YBTC?
So, what sets YBTC apart?
Well, the following four features are the key differences for YBTC:
1) Security
YBTC is built with security in mind. The yield-generating liquid staking token reduces end-user risk for institutions by:
- Having limited yield integrations
- 1:1 backing with Bitcoin
- Minimal trust assumptions
- Multiple security audits.
2) Self-Custody
YBTC is a self-custody asset, empowering institutions with full control over their assets without the need to trust pSTAKE or any other entity. This not only ensures maximum decentralization but also preserves Bitcoin’s core values and ethos.
3) BTCfi Yields
There are multiple sources of yields for YBTC holders:
- Babylon Yields: Institutions staking BTC on pSTAKE Finance earn staking yields through Babylon rewards, which are generated by providing economic security to PoS ecosystems.
- YBTC in DeFi: As YBTC is an ERC-20 liquid-staking token, it can be teleported to DeFi protocols focused on Restaking and Yield-Farming. This allows YBTC to holders to generate more yield through;
- Protocol incentives – any yield generated by a DeFi protocol.
- Chain rewards – Any yield generated from the L1 chain that the protocol sits on.
4) Interoperability
YBTC stands out with its complete interoperability, allowing it to seamlessly flow between Layer1 and Layer2 ecosystems through its integration with LayerZero. This means that YBTC can generate yield on both Bitcoin and Ethereum, and with its ability to leverage every other chain, the potential for generating yield from BTC is truly exciting.
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.
