BTCFi is currently in a phase of waiting for the wind, not affected by FUD or FOMO, perhaps it is the time to lay in wait!
This time, Pipibuy chose #PSTAKE !
Pipibuy's core logic is optimistic about the future trend of BTCFi. In a foreseeable bull market, the capital overflow of BTC should be certain. Even if BTC old OGs are unwilling to participate, there will always be newcomers buying Bitcoin to join BTCFi, which in turn attracts old OGs after creating a wealth effect!
Furthermore, the price of $PSTAKE is also at a low level, with a deep understanding of liquid staking, and the point rewards of pSats are not competitive.
➤ Next, the narrative logic:
@pStakeFinance was established in 2021, currently with a fully circulating market value of 30 million USD, and 97% of the tokens are in circulation. The track is #BTCFi and #LSD (liquid staking)!
It has been launched on all major exchanges except Binance, Coinbase, and Korea (Upbit, Bithumb), which means there is still a significant increment from exchanges that are not yet launched, which is one of the biggest expectations.
The latest round of financing was supported by Binance Labs and received investments from institutions such as Galaxy Digital, DeFiance Capital, and Peak XV Partners.
pSTAKE has chosen a liquid staking solution, and since then, it has continuously deepened its efforts in the liquid staking field, successively supporting the Cosmos ecosystem, BNB ecosystem, and now the BTC ecosystem.
ℹ️ Liquid staking is a method of cryptocurrency staking where users receive tradable token certificates while staking their assets. This certificate can represent the rights to the original staked assets and can be freely used in the DeFi ecosystem, solving the problem of assets being locked under the staking model and improving asset liquidity and utilization efficiency.
❚ Returning to pSTAKE's current focus on BTC liquid staking.
The pSTAKE protocol stakes BTC on Babylon to earn basic staking rewards and the liquid staking token YBTC. However, at the time of writing this article, there are no staking quotas left.
Years of deep cultivation in the liquid staking field have given pSTAKE a profound understanding of staking. It considers the risks of staking tokens circulating across too many protocols and does not intend to focus on blind expansion of YBTC liquidity (if one side of the trading pair formed by liquidity mining encounters problems, it will impact the other side), which is especially important for BTC holders who prioritize security.
Rather, it plans to focus YBTC yields on staking-based gameplay, ensuring that the safety of YBTC is not affected by external assets. For example, lending and re-staking, re-staking can also stimulate lending demand, creating a circular dependency.
In addition, pSTAKE also takes into account the current problem of liquidity fragmentation across multiple chains, planning to collaborate with cross-chain interoperability and chain abstraction protocols to allow YBTC to support various well-known public chains.
This is a far-sighted plan that greatly enriches the use cases of YBTC and provides YBTC with a low-risk and seamless user experience.
This series of plans has increased Pipibuy's confidence in pSTAKE. Although the content currently presented is not sufficient, isn't opportunity born from risk?
❚ Next, let's take a look at the empowerment of the native token $PSTAKE, which, according to the official description, is mainly a governance and incentive token.
Currently, staking PSTAKE to obtain pSats point empowerment is in progress.
Pipibuy has already purchased PSTAKE tokens to participate in staking but has not yet claimed. According to the official description, different total points will be given for each season, and rewards in $BTC will be distributed based on each person's total points.
Currently, PSTAKE has been deployed on multiple chains, including Ethereum, Base, BNB, OP, etc., but staking can only be performed on the Base chain.
When participating in staking, it is not recommended to buy PSTAKE on the Base chain, as liquidity is not sufficient. Pipibuy lost 1% when buying tokens and would lose another 1% when selling. It is recommended to withdraw directly from the exchange or buy on other chains and then cross-chain to Base. The specific optimal route can be tried multiple times!
🔔 Finally, everyone can make their own judgments based on Pipibuy's logic, as Pipibuy has vested interests, and is also welcome to join the community discussion!