stkETH Public Testnet Launch: User Guide
Originally published April 22, 2022.
The pSTAKE team is excited to announce that we’ve launched the testnet version of the stkETH implementation on Ethereum 2.0. Our end goal of deploying this integration is to allow ETH holders to stake their assets in return for stkETH, the underlying representative token of ETH, as a liquid-staked asset.
As a result, this will expand the pSTAKE liquid staking ecosystem and open avenues for the ETH community to benefit from earning additional rewards through staked native tokens.
Today, we’ll be providing potential participants and community members with an overview of how the testnet implementation will work and how users can support this initiative by stress-testing the underlying application before the mainnet launch.
Read the full article on our official blog here: https://bit.ly/pSTAKE-ETH-Testnet
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.
Website | Twitter | Telegram | Discord | Blog | YouTube | Forum
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.
Join Our Movement
Twitter | LinkedIn | Telegram | YouTube | Reddit | hello@persistence.one
