$PSTAKE Airdrop Explained

TL;DR

• pSTAKE’s governance token, $PSTAKE, will be distributed to key stakeholders within the pSTAKE ecosystem
• 6% of the total $PSTAKE genesis supply will be distributed, based on the snapshots taken on 1200 HRS UTC, 2nd September 2021
• 55% of the total airdrop allocation will be distributed to eligible holders and stakers of ATOM & XPRT using a fairdrop mechanism
• 2.5% of the total airdrop allocation will be equally distributed amongst all eligible early adopters of the pSTAKE protocol
• 25% of the total airdrop allocation will be distributed to eligible users of specific DeFi protocols (SushiSwap, Curve Finance, and Aave)
• 1.67% of the total airdrop allocation will be distributed to our Cosmos StakeDrop campaign participants, with 0.125% additional tokens distributed to those who delegated with AUDIT.one during the StakeDrop
• 15.83% of the total airdrop allocation has been set aside in a Strategic Reserve

With the launch of pSTAKE’s governance token, $PSTAKE, we recently announced a retroactive token airdrop to the critical stakeholders within the protocol’s ecosystem to ensure alignment of incentives and foster long-term growth of the protocol.

You can learn more about $PSTAKE’s token utility, value accrual, and the critical stakeholders in our previous article here.

pSTAKE will allocate 6% of the token’s total genesis supply for various airdrops to be distributed based on the snapshots taken on 1200 HRS UTC, 2nd September 2021.

This article will further expand on the details of the $PSTAKE airdrop campaign, focusing on the distribution mechanism.

Read the rest of this article on our website: https://blog.pstake.finance/2021/09/17/pstake-airdrop-explained/

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, which are represented as pTOKENs (e.g. pATOM) that can then be transferred to other wallets or smart contracts on the Ethereum network to generate additional yield.

Currently, pSTAKE issues 1:1 pegged ERC-20 liquid staking representative tokens on the Ethereum network, with a long-term aim of building a multi-chain protocol issuing liquid staked representatives on multiple networks including the Persistence Core-1 chain.

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.

Developed by Persistence

Persistence is enabling exposure to multiple asset classes such as Liquid Staking (pSTAKE), NFTs (Asset Mantle), and Synthetics (Comdex). Persistence ecosystem products are designed to stimulate global liquidity and enable seamless value exchange.

Persistence’s Core mainnet is a Proof-of-Stake chain powered by Tendermint BFT consensus engine. Persistence’s multi-chain tech stack (currently supporting Cosmos, Ethereum, and other Tendermint-based chains) abstracts away the complexities for developers and enables them to create DEXs, marketplaces, lending/borrowing platforms, etc.

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