stkETH & Ethereum 2.0: pSTAKE’s Next Leap Forward
Originally published May 1, 2022.
The highly-anticipated Ethereum 2.0 upgrade, which will see the network switch from a PoW (Proof of Work) to PoS (Proof of Stake) consensus mechanism, lies just on the horizon. Just last month in March, the Ethereum Foundation announced plans for this transition to take place sometime in Q3 2022(tentative), shifting the timeline from an originally communicated Q2 2022.
pSTAKE recently revealed its upcoming implementation of Ethereum 2.0 liquid staking, which will provide users with liquid staking opportunities derived from ETH to broaden the scope of potential DeFi (Decentralized Finance) activities.
Find out more about what this means for the space and how pSTAKE is moving forward implementing ETH liquid staking.
Read the full article on our official blog here: https://bit.ly/3MIPPvv
About pSTAKE
pSTAKE is a liquid staking solution that unlocks the potential of staked PoS assets (e.g. ATOM). PoS token holders can stake their tokens via the pSTAKE application to receive stkASSETs (ERC-20 representative assets of the respective underlying tokens) that can then be transferred to other wallets or smart contracts on the Ethereum network to generate additional yield.
Currently, pSTAKE issues 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 our socials below to stay up-to-date with the latest developments.
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Developed by Persistence
Persistence is a Tendermint-based, specialised Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets.
Persistence facilitates the issuance and deployment of liquid-staked stkASSETs, allowing users to earn staking rewards while participating in DeFi primitives, such as lending/borrowing and liquidity provisioning on DEXs.
Persistence aims to offer a seamless staking and DeFi experience for PoS (Proof-of-Stake) users and enable developers to build innovative applications around stkASSETs.
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