What is PSTAKE Finance? Basic information about pTOKEN

• Overview of pSTAKE Finance (pTOKEN)
• What is pSTAKE Finance (pTOKEN)?
• Basic features of pSTAKE Finance
• pSTAKE Finance development team
• Advisors, investors and partners of the pSTAKE Finance project
• Products of pSTAKE Finance
• How to make money in pSTAKE Finance
• Token overview of pTOKEN and stkTOKEN
• What are pTOKEN and stkTOKEN tokens?
• Functions of pTOKEN and stkTOKEN token tokens
• Where can pTOKEN and stkTOKEN tokens be bought and sold?
• What is the future of the pSTAKE Finance project?
• Summary of pSTAKE Finance

Overview of pSTAKE Finance (pTOKEN)

What is pSTAKE Finance (pTOKEN)?

Before learning about pSTAKE, we need to clarify the concept of liquid staking. Liquid staking, as the name implies, allows the use of Crypto assets that have been staked in a previous purchase or investment transaction for additional profit. Specifically, in addition to the profit from staked assets, investors can receive additional profits from new purchases or investments. 

Liquid staking does this by encrypting stakes, so that stakeholders can use them as collateral on other financial applications. Encrypted stakes, or derivatives stakes, can be freely traded between users, between locations, or even between blockchains.

pSTAKE is a liquid staking protocol that optimizes profits from staked PoS (Proof of Stake) assets . PoS asset holders can stake their tokens on the pSTAKE platform to receive pTOKEN (ERC-20 token) at a 1:1 conversion rate.

Users can use these pTOKENs for trading and investing activities on Ethereum, thereby creating another source of profit. 

Basic features of pSTAKE Finance

Currently, cryptocurrency investors usually stake their PoS assets (such as ATOM, XPRT, ETH, SOL ...) on blockchain platforms for a certain period of time. After that, they will earn a corresponding profit. Locked assets usually cannot be staked or used for other purposes until unlocked and withdrawn from the platform.

pSTAKE is the solution for investors when allowing users to continue investing in previously staked assets. When staking on the pSTAKE platform, users continue to receive additional interest in the form of stkTOKEN coins at a 1:1 swap. They can then use these coins on the DeFi (decentralized finance) market to generate more profits.

Some note: 

• pTOKEN are tokens (according to ERC-20 standard) without participating in staking. The system will automatically exchange tokens at the ratio 1:1
• stkTOKEN are tokens (according to ERC20 standard) when participating in staking. After staking on pSTAKE, users will receive stkTOKEN on PoS networks with pSTAKE integration. The exchange rate is also 1:1
• Holding stkTOKENs will generate profit and receive interest as pTOKENs. Meanwhile, pTOKENs need to take away stakes to make a profit.

pSTAKE Finance development team

The project development team, belonging to Persistent company, are members with a lot of experience in blockchain, including:

• CEO & Founder – Tushar Aggarwal: He was honored by Forbes magazine as one of 30 successful people under the age of 30 in Asia. Besides, he graduated with a bachelor's degree in business administration from Nanyang Technological University
• CTO – Deepanshu T. : He used to work at Mahindra Comviva – a large technology company and holds a bachelor's degree in technology from Vellore Institute of Technology
• Blockchain Developer – Gokul Santhosh: He has a lot of experience in product development as well as blockchain experience when he worked for technology product projects such as Wudi Datatech, Betterly
• Technical Lead – Abhinav Kumar: He used to be the head of the mechanical workshop department at AUV-IITB, a company specializing in engineering. In addition, he holds a degree in engineering technology from the Indian Institute of Technology
• Strategy & Business Development – ​​Mikhil Pandey: He has experience as a market research assistant at Persistent company.

Advisors, investors and partners of the pSTAKE Finance project

pSTAKE closed its first round of funding with $10 million for the company's operational strategy fund. Among them, there are famous investment funds such as Three Arrows Capital, Galaxy Digital, Sequoia Capital India and Defiance Capital. Besides, there are investors from Coinbase Ventures, Tendermint Ventures, Kraken Ventures, Alameda Research, Sino Global Capital, Spartan Group and some other angel investors. 

The pSTAKE Finance project is advised and audited by PeckShield and Solidified. This is a duo that has worked significantly with some of the leading smart contract auditing companies in the DeFi market such as Aave, InstaDapp, Maker, Opensea, etc.

Products of pSTAKE Finance

The pSTAKE Finance platform offers key products and features such as:

pSTAKE . smart contracts

pSTAKE smart contracts are responsible for minting as well as issuing:

• pTOKEN: pegged coins
• stkTOKEN: coins representing staked assets.

pSTAKE . Platform

Stake

Users can bring their assets into the system to invest and then mint stkTOKEN coins. These coins can then continue to generate profits in the form of pTOKEN.

In addition, the protocols on pSTAKE are validated by the leading testing tools in the PoS ecosystem. As pSTAKE grows with more and more assets, the system will continue to add new testing tools to ensure the safety of the system and keep the decentralization of the platform.

Stake LP

The pSTAKE platform employs a unique mechanism called Stake LP, which allows users to continue to use their stkTOKEN tokens to trade on other DeFi products while still maintaining their stake on their assets. , while generating additional profits from DeFi protocols.

Unstake

Unstake is the process of withdrawing stakes, simply understood as reducing the amount of stkTOKEN that a user holds, and at the same time returning the same amount of pTOKEN (with a small difference due to the associated cost). 

The problem here is that PoS networks usually take a long time to perform a staking transaction (from 07 to 30 days, depending on the network). After that, users will have to wait for an additional period of disconnection from the asset of about 21 to 28 days. To solve the above problem, pSTAKE allows users to instantly withdraw their investment (from stkTOKEN to pTOKEN) and deduct part of the cost to make a transaction. 

The unstake process goes like this: When a user makes a withdrawal, that amount of stkTOKEN will be locked. After that, the original tokens are withdrawn from the system and the stkTOKEN coins will be destroyed. The corresponding number of pTOKEN coins are minted and locked during the disconnection timeout. Once the steps are completed, the user will receive pTOKEN in their wallet account.

Get profit

Users who own stkTOKEN can claim their stake at any time. They are free to use their profits for other transactions. 

Interest on pSTAKE is accrued as pTOKEN and users can request a manual withdrawal at any time. Pending interest is also automatically confirmed when users make staking or unstake transactions. After the profit is confirmed, the profit amount will be synchronized on the user's Ethereum wallet.

Unwrap

Unwrap, aka pullback, is when users want to withdraw their original assets out of pSTAKE. Users can do this through the “Withdraw” command on the system. 

The unwrap process is quick. Users will earn in proportion to the amount of pTOKEN they still hold in their account. For those who have used pTOKEN to stake and are only holding stkTOKEN, they will have to make an additional unstake transaction so that the system can refund as pTOKEN. 

Upon executing the unwrap command, the pSTAKE system will return the asset's original wallet. This transaction is completely free.

Bridging networks – pBridge

pBridge has the function to issue (and destroy) representative pegged coins at a 1:1 ratio. An example is the issuance of a pegged coin for ATOM, or on the system called pATOM token. When the user deposits the original ATOM coin into the pSTAKE platform, the pBridge connection protocol will mint and issue the pATOM coin on the system to match the user's Ethereum address.

How to make money in pSTAKE Finance

There are 3 ways to make money on pSTAKE Finance platform:

Method 1: When depositing native tokens (eg ATOM) into the pSTAKE account, the user will be granted the amount of pATOM anchor coins in the account. If the user holds that pATOM in the account, they will be rewarded with a small amount corresponding to a percentage of the amount they have deposited.

Method 2: After having the pATOM coin in the account, the user stakes that pATOM into the pools on pSTAKE Finance. The system will then return to the investors the corresponding amount in the form of stkATOM. During the staking process, the user's interest will be paid in the form of stkATOM so that they can continue to use it.

Option 3: After receiving stkATOMs from staking on pSTAKE Finance, investors can use it for any transaction on DeFi protocols to optimize profits.

Token overview of pTOKEN and stkTOKEN

What are PSTAKE, pTOKEN and stkTOKEN tokens?

• PSTAKE is the governance and promotion token of the pSTAKE platform. PSTAKE is ERC-20 standard and has a total supply of 500,000,000 tokens.
• pTOKEN is a coin that is minted and released to users when they deposit a corresponding amount of native tokens (ATOM -> pATOM).
• stkTOKEN is a co-representative of the assets that users have staked on the pSTAKE Finance platform (pTOKEN -> stake -> stkTOKEN) that are minted and issued by the system, corresponding to the number of pTOKEN they have staked.

Functions of pTOKEN and stkTOKEN token tokens

• PSTAKE: PSTAKE holders can participate in protocol improvement proposals on pSTAKE Finance through voting.
• pTOKEN: In addition to the function of making profits through holding or staking, pTOKENs are also the currency of the system for administration. The voting administration mechanism helps to change the transaction fee schedule, platform protocols, filter policies for validators (transaction validators), etc.
• stkTOKEN: This is the co-representation of the actual assets that users are locking on pSTAKE Finance's system. Therefore, users can use it in most DeFi protocols.

Where can pTOKEN and stkTOKEN tokens be bought and sold?

• PSTAKE is about to be sold on Coinlist on December 16, 2021 with a total supply of 25,000,000 tokens. The selling price of PSTAKE at Coinlist is 0.4 USD per token.
• pTOKEN is equivalently redeemed by depositing an original amount of tokens into pSTAKE Finance. Users can also swap (swap tokens) for other pTOKENs on swapping exchanges.
• stkTOKEN is equivalently converted by staking the amount of pTOKEN that the user owns. Investors can also earn more stkTOKEN from staking transactions as a form of interest payment or use it on other DeFi protocols to earn more stkTOKEN.

PSTAKE Token Allocation Schedule

PSTAKE will be distributed to the parties as follows:

• Protocol Bootstrapping: 2%
• Treasury: 20%
• Those who stake XRPT tokens: 3%
• Fund for encouragement and community development: 26%
• Alpha Launchpad: 2%
• Business strategy: 20%
• Public Sale: 5%
• Retroactive Reward: 6%
• Development team: 16%

What is the future of the pSTAKE Finance project?

It can be seen that the ambition of the pSTAKE Finance project is to build a new model for the PoS ecosystem. Currently, pSTAKE is unlocking staked assets totaling over $100 billion. This helps create a more flexible, attractive environment with multiple opportunities and uses for PoS assets. This direction will definitely change the model of the PoS ecosystem that we have and change the DeFi market.

In addition to the Cosmos network that was launched in July, pSTAKE with the launch of Gravity DEX and Osmosis, will continue to expand the network using IBC protocols (inter-chain communication protocol) using stkTOKEN as a source abundant stake supply for DEXs (decentralized exchanges) in the Cosmos ecosystem. In the future, we will see pSTAKE covering the largest PoS platforms today, including Ethereum 2.0, Terra, Polkadot, and Solana .

Conclude

With the bold idea of ​​developing a protocol that allows users to further invest their staked assets, the pSTAKE Finance project promises a great potential in restructuring the PoS ecosystem that has been and been interested in the community for a long time.

Besides the huge and constantly increasing number of transactions over time of the pStake system, the presence of a large number of reputable investment funds has partly shown us the answer to the question of whether the pSTAKE platform. How far can this finance go?

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