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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 the main collaborations being explored currently is with Terra’s Anchor Protocol (ANC), a savings protocol that is responsible for the minting of the TerraUSD (UST) stablecoin.
ATOM tokens could eventually be used as collateral to mint UST on Anchor, which can currently only be done with LUNA and Ether.
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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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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), includ...
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