Unlocking Liquidity for Staked Assets
Content on this page was provided by the pSTAKE team
pSTAKE is the protocol that unlocks liquidity for your staked assets. With pSTAKE, you can securely stake your Proof-of-Stake (PoS) assets, participate in protocol improvements and security to earn staking rewards, and receive 1:1 pegged staked representative tokens which can be used to explore yield opportunities across DeFi.
At present, pSTAKE supports Cosmos and Persistence networks’ native tokens with a view to support more chains and assets in the future.
pSTAKE issues staked representative tokens through a custom bridge built to tap into the growth of the Cosmos ecosystem while accessing the liquidity and composability of Ethereum. Users can either hold these representative tokens as ERC-20 to maintain the liquidity of their staked assets, or use them to discover yields offered by other DeFi protocols.
The pSTAKE protocol uses an inter-blockchain bridge named ‘pBridge’ which facilitates the transfer of value between various blockchains, such as Ethereum, Cosmos, Persistence, among many others. While other blockchain bridges only allow for the creation of pegged tokens, pBridge enables interchain staking and unstaking of PoS tokens at the protocol level on their respective native chains.
The purpose of the pBridge is primarily to:
pBridge implements Crash Fault Tolerance by being a multi-party computation based bridge that is secured by some of the industry leading Proof-of-Stake validators.
Dual Token Model
The dual token model of pSTAKE simplifies staking and rewards mechanisms for users and mirrors the exact workings of the PoS networks that it supports.
pTokens are 1:1 pegged ERC-20 unstaked representative tokens that copy the functionality of the underlying PoS network and only represent unstaked tokens on that network. Users can then stake their pTokens with pSTAKE to mint stkTokens, which are 1:1 pegged staked representative tokens. In the background, the PoS assets deposited on the protocol are staked onto the network with leading PoS validators. stkTokens accrue staking rewards in pTOKENs which can also be used in the broader Ethereum DeFi ecosystem.
All issued stkTokens are fungible in nature.
This fungibility is achieved by delegating assets staked on the respective PoS networks evenly across a set of validators participating in the pSTAKE protocol. This proportion of stake distribution will be governed by $PSTAKE token holders after the token launch.
stkToken holders equally share the risk of slashing in the ecosystem. However, these slashing risks are mitigated to a large extent through distributed delegation across multiple validators.
| Asset | PSTAKE tokens |
| Sale Period |
Registration Opens: December 7, 2021
Registration Deadline: December 13, 2021 at 23:59 UTC Sale Period Begins: December 16, 2021 at 18:00 UTC Sale Period Ends: December 22, 2021 at 23:59 UTC |
| Price & Lockup Terms | $0.40 per token 25% unlock on or around January 25, 2022, followed by a 6-month linear vesting schedule |
| Supply Limits | Supply capped at 25M PSTAKE tokens |
| Minimum & Maximum Purchase | Minimum Purchase: $100
Maximum Purchase: $500 |
| Funding Methods |
BTC, ALGO, SOL, ETH, USDC, USDT |
| Sale FAQ | FAQ |
| Eligible Participants | Not available for residents and citizens of the United States, China, Canada, South Korea, and certain jurisdictions. |
PSTAKE is an ERC-20 token that provides its holders with a two-fold benefit:
The PSTAKE token functions as the governance and incentivisation/dis-incentivisation token of the pSTAKE protocol. PSTAKE holders are incentivised to participate in the protocol’s governance to ensure its long-term success and security by staking PSTAKE on the pSTAKE staking contract. PSTAKE token holders will have the immediate ability to use the token for its intended functionality .
PSTAKE tokens will also be used as a dis-incentivization token in case stakeholders staking PSTAKE act maliciously or are unable to perform their respective duties appropriately.
Read more about the PSTAKE utility token and its role in the pSTAKE ecosystem here.
PSTAKE has a total genesis supply of 500,000,000 tokens.
| Segment | Total Supply in % | Release Schedule |
| Alpha Launchpad | 2% | Fully liquid on TGE |
| Seed Sale | 20% | 18 month total vesting period: 6-month cliff, followed by 12-month equal monthly vesting |
| Public Sale | 5% | 25% vesting at TGE, followed by a 6-month linear vesting schedule |
| Team | 16% | 36 month total vesting period: 18 month cliff, followed by 18-month equal monthly vesting |
| Incentivisation & Community Development | 26% | 24-month total vesting period: quarterly-vesting starting from TGE |
| XPRT Stakers | 3% | 12-month total vesting period: equal monthly-vesting starting from TGE |
| Treasury | 20% | 24-month total vesting period: Alternate month equal vesting starting from TGE |
| Protocol Bootstrapping | 2% | Fully liquid on TGE |
| Retroactive Rewards | 6% | 6-month linear vesting starting from TGE |
pSTAKE has been strategically positioned for long-term growth through multiple partnerships with some of the most prominent players in the Proof-of-Stake and DeFi ecosystems.
pSTAKE is developed by Persistence.
Persistence is enabling exposure to multiple asset classes such as Liquid Staking (pSTAKE), NFTs (Asset Mantle), and Synthetics (Comdex). Persistence ecosystem products are designed to stimulate global liquidity and enable seamless value exchange.
The Persistence Team consists of:
Tushar Aggarwal, Co-Founder and CEO at PersistenceA Forbes 30 Under 30 recipient, Tushar co-founded Persistence in 2019 with a mission to facilitate the seamless flow of digital asset classes. Tushar has a background in traditional finance and has worked as a consultant with pwc and Sia Partners before entering into the Crypto space in 2017. In addition, Tushar has helped set up LuneX Ventures, the crypto VC arm of Golden Gate Ventures, a traditional Asia based VC firm, has written extensively about Web3 on Tech in Asia, and hosted the Decrypt Asia podcast.
Deepanshu Tripathi, Co-Founder and CTO at PersistenceDeepanshu is an avid builder, and with Persistence aims to build a base layer for the creation of financial products powered by Web3. He has actively contributed to the Cosmos SDK and ecosystem projects, including Injective, ixo and Comdex, and is prominently known for executing the first cross-chain NFT transaction in the Cosmos ecosystem. Deepanshu has a background in computer science, and before diving into Crypto, he played an instrumental role in developing a unified payment acceptance platform, winning multiple B2B innovation awards.
Mikhil Pandey, Project Lead at pSTAKEMikhil is one of the earliest members of the Persistence team and has played a crucial part in bootstrapping the Persistence ecosystem products/initiatives such as pSTAKE, StakeDrop and AUDIT.one. With a deep interest in DeFi, Mikhil developed strengths in mechanism design and research for Persistence. Mikhil currently leads the pSTAKE team building liquid staking solutions for the Cosmos, Ethereum and Solana ecosystems.
Kamlesh Parikarath Marar, Engineering Lead at pSTAKEKamlesh currently leads the engineering team in building liquid-staking solutions for Cosmos-based assets. He has expertise in smart-contract development and blockchain architecture design. Kamlesh has a background in computer sciences and management. Before joining Persistence, he worked with Infosys and Cognizant leading product development and integration teams.