Enter the pSTAKE Staking Gala for Your Chance to Win a Share of $20,000

pSTAKE Finance

Published in

pSTAKE

5 min readJun 30, 2021

TL;DR:

pSTAKE is hosting a Staking Gala to further refine our liquid staking application before launching on mainnet in July, beginning with support for Cosmos (ATOM)
The Staking Gala will run from July 2nd at 12:00 PM UTC until July 9th at 2:00 PM UTC
Participants will compete for a rewards pool of $20,000
If you hold less than 500 ATOMs in your wallet, you must register here
Users can participate in the Gala here (page will go live upon the Gala launch)
Winners will be determined based on %-rewards earned on their starting test ATOM balances and overall activity on the app. User activity on the app is scored through action points which are earned by performing supported actions
In-depth details regarding registration, program scope and ground rules are available in the Staking Gala documentation

A Gala for All-a

As refined as pSTAKE’s Alpha is, thanks to the contributions of our community during our Bug Bounty Program and App Experience Giveaway, we’re now launching a Staking Gala to fine tune our already polished liquid staking platform! To incentivize users to participate, pSTAKE will reward its most profitable and active users with a prize pool of $20,000. We invite everyone to take part!

This seven-day Gala will run from July 2nd at 12 PM UTC until July 9th at 2 PM UTC, during which time participants will be ranked based on several criteria to determine who is the best in show.

The Gala’s contenders will compete to demonstrate who can earn the highest percentage of rewards, who is the most active, and several additional surprise categories which will be announced at the end of the competition. The contestants will have to optimize their fees and redelegation processes to maximize the rewards they earn.

Registration & Eligibility Requirements

All are welcome to participate in the Gala! Those who hold more than 500 ATOMs in their wallets do not need to fill out a registration form in advance as their tokens will be automatically replicated on the testnet.

Potential entrants who hold fewer than 500 ATOMs must register for the Gala in advance here to receive their test ATOMs.

For further details regarding registration and eligibility, please review the pSTAKE Staking Gala documentation.

Rewarding the Elite

As with any competition, the best and brightest will be rewarded. In pSTAKE’s Staking Gala, the best in class will be rewarded from a prize pool of $20,000, which will be distributed within thirty days of the Gala’s conclusion.

Details about how the participants will be scored during the Gala can be found in the Staking Gala documentation. Judges will evaluate the contestants based on these criteria at the end of the contest.

Code of Conduct

As with any prestigious event, we have certain ground rules that all participants must follow. These include things like limiting entries to one per person, allowing only one wallet per participant, and leaving all rewards at the sole discretion of the pSTAKE team. Furthermore, should additional terms and conditions become necessary during the event, pSTAKE reserves the right to change them at any time and without prior notice.

For more information about the code of conduct and scoring criteria, please refer to the documentation.

Kicking Off the Gala in Style

pSTAKE would like to welcome all participants to the Staking Gala! By participating, our contestants will help to further refine our liquid staking solution, making pSTAKE a cut above the rest. Become a pSTAKE pioneer and help us to perfect our protocol while getting the chance to win rewards in the process. It’s a win-win!

Join us and become a part of our journey as we revolutionize the PoS ecosystem 🥂

About pSTAKE

pSTAKE is a liquid staking solution that unlocks the potential of staked PoS assets (e.g. ATOM). PoS token holders can deposit their tokens on the pSTAKE application to mint 1:1 pegged ERC-20 wrapped unstaked tokens represented as pTOKENs (e.g. pATOMs) that can then be transferred to other wallets or smart contracts on the Ethereum network to generate additional yield.

The pSTAKE Staking Gala shall be followed by the mainnet launch for Cosmos (ATOM), Persistence (XPRT), and many more prominent PoS networks, the details of which shall be announced later.

We have a bag full of new features and an exciting roadmap for the coming months, so follow pSTAKE on Twitter and hop onto our Discord channel to stay up-to-date with the latest developments.

About Persistence

Persistence is an interoperable protocol enabling the creation of innovative solutions to expand the DeFi and NFT sectors, in addition to bridging traditional finance and DeFi.