pSTAKE Finance (PSTAKE) is a multichain liquid staking protocol developed by Persistence, designed to unlock the liquidity of staked assets in Proof-of-Stake (PoS) networks. The platform allows users to stake their PoS tokens while maintaining the liquidity of those assets.
Stakers typically lock their tokens in PoS networks to support network security and earn staking rewards. However, this can limit their ability to access liquidity. pSTAKE Finance addresses this by enabling users to stake their tokens and simultaneously trade or utilize them for other purposes. The pSTAKE Finance protocol aims to enhance the efficiency and flexibility of staked assets within the crypto ecosystem.
Users who stake their assets on pSTAKE Finance receive staking tokens representing their staked holdings, known as stkTokens. These tokens can be traded or utilized within the DeFi ecosystem, allowing users to access liquidity without compromising their participation in staking networks.
As of November 2023, pSTAKE Finance supports staking assets across Cosmos, BNB Chain, and Ethereum ecosystems. PSTAKE is the native token of the pSTAKE Finance ecosystem and serves as the incentive and governance token of the platform.
