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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 ).
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pSTAKE airdrop and ongoing developments
As a way to help increase community support and reward early adopters, the project launched an airdrop of its pSTAKE token, which will see 30 million pSTAKE distributed over the next six months to a variety of addresses including ATOM, OSMO and XPRT stakers.
On the development side, one of ...
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Liquid staking comes to the Cosmos ecosystem
Lido, for instance, is a liquid staking protocol that already offers support for Eth2, Terra, Solana and Kusama, and has a TVL of $9.35 billion.
The main difference for pSTAKE is that it emerged out of the Cosmos ecosystem and has its main focus on increasing liquidity for other protocols ...
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