🚀 Gem Coin Review🌟 Cosmos ecosystem DeFi Gem Coin pSTAKE 📈
🚀💡 Dive into the world of liquid staking and decentralized finance (DeFi) with pSTAKE, a liquid staking protocol that unlocks liquidity for staked Proof-of-Stake (PoS) assets! 🌐💼
💫 Here's why it's revolutionizing the world of liquid staking and DeFi⬇️🧵
1️⃣ Introduction and Overview: pSTAKE is a liquid staking protocol that allows PoS token holders to deposit their tokens onto the pSTAKE platform to mint 1:1 pegged ERC-20 wrapped unstaked tokens, represented as pTOKENs. The pSTAKE token ($PSTAKE) is an ERC-20 token used for the governance of the pSTAKE protocol.
2️⃣ Technology and Feature: pSTAKE is built on Persistence One and supports Ethereum, BNB Chain, and Cosmos. It issues 1:1 pegged ERC-20 liquid staking representative tokens on the Ethereum network. Users can convert pTOKENs into 1:1 wrapped ERC-20 stkTOKENs by staking the underlying deposited PoS tokens. stkTOKENs represent the staked position of the native PoS token and accrue staking rewards in the form of pTOKENs.
3️⃣ Use Case: pSTAKE empowers users to earn staking rewards and participate in DeFi while maintaining liquidity with stkTokens. Users who deposit ATOM or XPRT on the protocol receive stkATOM or stkXPRT in return, which can then be used for various functions in decentralized finance (DeFi), including borrowing and lending.
4️⃣ Security and Audits: All pSTAKE components have been thoroughly audited by multiple Security Audit firms. The current set of validators have been thoroughly vetted to minimize security risks.
5️⃣ Tokenomics: The Total Genesis Supply of PSTAKE is 500 Million and circulating supply is 455.56 Million. The distribution is designed to maximize decentralization of protocol governance, while adequately incentivizing the core contributors of the long-term growth of the protocol.
6️⃣ Exchanges: pSTAKE Finance is traded on 15 exchanges. The most popular exchanges for trading in pSTAKE Finance stock are currently OKX, Bybit, Bitget, BingX.