Alpha Finance Lab, a DeFi ecosystem and platform, right this moment introduced the second Alpha Launchpad venture, pSTAKE, a ‘Liquid Staking’ DeFi protocol that unlocks liquidity of staked property.
- Designed as a liquid staking answer, pSTAKE.finance unlocks the true potential of staked PoS property (e.g. ATOM). PoS token holders can deposit their tokens onto the pSTAKE platform to mint 1:1 pegged ERC-20 wrapped un-staked tokens represented as pTOKENs (e.g. pATOM).
- pTOKENs will be transformed into 1:1 wrapped ERC-20 staked representatives known as stkTOKENs by staking the underlying deposited PoS tokens. stkTOKENs will be considered yield producing tokens. Since stkTOKENs characterize staked tokens, they accrue staking rewards within the type of pTOKENs (This mirrors the workings of most PoS chains the place rewards aren’t robotically compounded, however earned within the type of liquid tokens which will be claimed by a consumer at any cut-off date).
- Additional, pSTAKE permits its customers to make the most of stkTOKENs in numerous DeFi protocols to earn a yield on prime of their staking rewards.
Chosen incubated initiatives that go an intensive screening course of get to work with the core Alpha group to efficiently launch and develop their DeFi initiatives. The Alpha Launchpad offers hands-on help, mentorship, and steering in all areas of a venture’s enterprise.
For groups concerned about making use of for Alpha Launchpad, take a look at the appliance course of right here.