Since its launch, pSTAKE has offered liquid staking for Cosmos and XPRT, which have annual yields of 12% and 32%, respectively. Users who deposit ATOM or XPRT on the protocol receive stkATOM or stkXPRT in return, which can then be used for various functions in decentralized finance (DeFi), including borrowing and lending.

According to data from Defi Llama, the pSTAKE protocol currently has a total value locked (TVL) of $48.63 million.

Developers behind the project are currently working on adding support for other tokens including Ether, Terra (LUNA ) and Solana (SOL ).