General
stkBNB is the underlying representative token (liquid-staked version) of BNB, which is minted when BNB is staked on pSTAKE.
Users can leverage their stkBNB tokens to pursue DeFi opportunities across the BNB Chain ecosystem.
pSTAKE is initially integrating with PancakeSwap and Alpaca Finance to provide liquidity pools, yield-farming, and yield optimization for stkBNB. More integrations are expected with other BNB Chain protocols in the near future.
stkBNB is a BEP20 token that is compatible with Metamask, Binance Web Wallet, Trust Wallet, and Math Wallet.
Getting started is easy with our friendly user interface and minting process – simply navigate to the pSTAKE app and select “Binance” under “Supported Networks.”
There is no minimum or maximum limit to the amount of BNB a user can stake. pSTAKE allows users to stake any non-zero amount of BNB on our platform.
Please ensure you leave enough BNB in your wallet to pay for any associated gas fees.
stkBNB follows an exchange rate model (Compound’s cToken model) which increases in value as the protocol accrues staking rewards. Thus, 1 stkBNB is worth more after each reward epoch (24 hours). Users are issued stkBNB tokens at the ongoing exchange rate.
Users can claim BNB from the pSTAKE protocol 15 days after the unstaking transaction.
To by-pass the unbonding period, users can swap their stkBNB for the underlying assets meaning users will be able to exit their liquid staked BNB position directly by swapping stkBNB with BNB on DEXs, and need not wait for the 15-day unstaking period.
Rewards accrue into the value of stkBNB which rises after every epoch (UTC 00:00 hrs). Users start earning rewards from the first epoch after staking.
No, the protocol doesn’t charge any fees.
100% of earned rewards will be distributed to BNB holders who stake through pSTAKE. User rewards will automatically be compounded at every epoch as staked BNB continues to earn rewards.
The protocol has decided to waive fees in it’s bootstrapping phase, with potential reconsideration of this plan after 3 months through a governance vote.
Staking rewards mainly come from the transaction fees paid by users of the BSC chain and thus vary according to the network activity. pSTAKE uses a validator scoring mechanism based on APR, uptime, and number of slashing instances to delegate to the top validators on the BNB chain.
Yes, the stake immediately stops accumulating rewards once an unstake transaction is performed. Please note that there is a 15-day unbonding period after unstaking – once complete, they will be able to claim their underlying BNB tokens.
Stakers do not directly face slashing risk as validators are slashed from their self-staked BNB. Stakers do face the risk of missing out on staking rewards if any of the validators in pSTAKE’s validator set is jailed or is offline. The loss of rewards is distributed across all the stkBNB stakers on pSTAKE. pSTAKE stakes only with the top validators on the BNB chain and will implement an onchain validator scoring mechanism to minimise such incidences.
Users can stake their BNB via pSTAKE to earn auto-compounded staking rewards while contributing to BNB Chain’s network security.
In addition, users can earn additional rewards by using their minted stkBNB tokens across BNB Chain DeFi and bypass the traditional 7-day unbonding period by swapping stkBNB for BNB within PancakeSwap’s liquidity pool.
pSTAKE has undergone several security audits conducted by top blockchain security firms including Peckshield, Halborn, and a formal verification by Certora to analyze and test the stkBNB product smart contracts.
Additionally, the team has partnered with Forta for on-chain tracking and implementing alert bots for suspicious activities. We’ve also launched a bug bounty program to identify additional vulnerabilities and have partnered with BNB Chain’s team, where they’re helping stress-test the network.
As with any protocol, there’s smart contract security risk. pSTAKE always aims to ensure we’re providing top-notch security and has partnered with multiple security partners – details above.
In addition, third-party wallet risk is a factor to consider. We’ve integrated with industry-leading wallets to support our UX and recommend that users do research on their wallet of choice before utilizing them.
The reason this error message is appearing is that you haven’t switched your MetaMask wallet to the correct network – you’ll need to add the BSC mainnet to your wallet to proceed.
Video tutorial: https://www.youtube.com/watch?v=hk3ejdJehYw
PSTAKE rewards will last for 8 weeks – users will receive PSTAKE tokens in their wallets after this period has concluded. All distributed rewards will vary based on each user’s share of LP tokens relative to the entire pool.
The pSTAKE team has no control over preventing a wallet from interacting with the platform.
The smart contracts are bound by a timelock contract that enables a waiting period before any upgrade. The current wait period is 1 day, which is set to increase over time. Therefore, users will have sufficient time to unstake their stkBNB if needed.
In an emergency situation, the pSTAKE team has a pause/unpause functionality within the smart contract that can be used by admin multisigs to temporarily pause any contract operations.
Yes, the smart contract is upgradeable – the upgrade is controlled by admin multisigs.
The process is longer on pSTAKE because an address on the BNB Beacon Chain can only unstake once in 7 days from a validator. pSTAKE aggregates users’ unstake amounts and unstakes all BNB tokens at once.
Tuesdays and Wednesdays are the weekly bot events that pSTAKE’s contracts emit – the unbonding of stkBNB tokens is initiated on Tuesdays and concludes on Wednesdays.
Please note that these timeframes occur under ideal conditions. There is a possibility that the bot fails to unbond tokens on Tuesdays, so pSTAKE has added some buffer room to run this process again over the course of 5-6 days if the mechanism continues to fail. We guarantee that the unbonding period will conclude at a maximum of 15 days.
Using stkBNB in BNB Chain DeFi
For dedicated tutorials and walkthroughs on how to use the below BNB Chain DeFi integrations, please visit https://blog.pstake.finance/tutorials.
You’ll need to add liquidity to the stkBNB/BNB pool to receive LP tokens by going here: https://pancakeswap.finance/add/BNB/0xc2E9d07F66A89c44062459A47a0D2Dc038E4fb16
By doing this, you’ll provide liquidity to the pool and earn a portion of the trading fees.
You can deposit your LP tokens in the stkBNB/BNB farm to earn CAKE rewards by going to: https://pancakeswap.finance/farms
Yes – if you want to leverage yield farm the stkBNB/BNB pool, you can use up to 4x leverage. Depending on the leverage you decide to choose, you’ll earn varying APRs.
Get started: https://app.alpacafinance.org/farm.
Once you’ve selected the stkBNB/BNB you want to add for farming, in addition to your desired leverage, the only asset you’re able to borrow is BNB.
When you leverage yield farm the stkBNB/BNB pool, you’ll earn various rewards in both ALPACA and PSTAKE tokens. The amount earned depends on how much you deposit and the leverage you utilize.
Users can earn additional rewards by depositing liquidity into the stkBNB/BNB LP vault on Beefy Finance.
Rewards are auto-compounded, where the protocol reinvests them into your portfolio to maximise returns that continue to build.
Get started here: https://app.beefy.com/vault/cakev2-wbnb-stkbnb
The vault deposits your stkBNB-BNB LP tokens into a PancakeSwap farm to earn CAKE, which is swapped for more LP tokens and continuously added to the farm. This creates an auto-compounding effect.
By doing this, you’ll provide liquidity to the pool and earn a portion of the trading fees.
You can select either stkBNB or BNB to utilise as collateral on the platform when leverage staking (users can enter into positions with up to 5.9x leverage).
Video Tutorial: https://www.youtube.com/watch?v=TSf4jxWClQQ
No. Currently, users are only allowed to enter into long positions on stkBNB/BNB when using the platform.
You can deposit your BNB tokens using the protocol’s “Lend to Earn” feature to earn high yield on your BNB – the BNB tokens are deposited into the stkBNB/BNB pool.