From April 19th, we officially list pSTAKE Finance Token (PSTAKE) on the ONUS application. Soon after PSTAKE is added, users can perform the following features:
- Off-chain transactions: Send and receive PSTAKE with other users in the ONUS network.
- Exchange: Swap from VNDC or USDT to PSTAKE and vice versa.
About pSTAKE Finance
pSTAKE is a liquid staking protocol that unlocks the true potential of staked PoS assets. PoS token holders can deposit their tokens onto the pSTAKE platform to mint 1:1 pegged ERC-20 wrapped unstaked tokens represented as pTOKENs. Users can convert pTOKENs into 1:1 wrapped ERC-20 staked representatives called stkTOKENs by staking the underlying deposited PoS tokens. stkTOKENs, representing staked tokens, accrue staking rewards in the form of pTOKENs. pSTAKE allows its users to utilize stkTOKENs in various DeFi protocols to earn additional yield on top of their staking rewards. Furthermore, pSTAKE Finance also produced its own bridge to bring the usage of the platform to different blockchains. Currently, two networks are supported, which are Cosmos and Persistence.
What is PSTAKE Token?
PSTAKE is a governance token of the pSTAKE Finance ecosystem, operating on Persistance according to ERC20 standard, and can be used to:
- PSTAKE holders are incentivized to participate in the protocol’s governance by staking PSTAKE on the pSTAKE staking contract.
- Pay staking reward for users.
- Name: pSTAKE Finance Token
- Symbol: PSTAKE
- Platform: Persistance
- Standard: ERC20
- Type: Governance