Alpha Finance Lab, a DeFi ecosystem and platform, today announced the second Alpha Launchpad project, pSTAKE, a ‘Liquid Staking’ DeFi protocol that unlocks the liquidity of staked assets.
What is pSTAKE?
- Designed as a liquid staking solution, pSTAKE.finance unlocks the true potential of staked PoS assets (e.g. ATOM). PoS token holders can deposit their tokens onto the pSTAKE platform to mint 1:1 pegged ERC-20 wrapped un-staked tokens represented as pTOKENs (e.g. pATOM).
- pTOKENs can be converted into 1:1 wrapped ERC-20 staked representatives called stkTOKENs by staking the underlying deposited PoS tokens. stkTOKENs can be thought of as yield-generating tokens. Since stkTOKENs represent staked tokens, they accrue staking rewards in the form of pTOKENs.
- Further, pSTAKE allows its users to utilize stkTOKENs in various DeFi protocols to earn a yield on top of their staking rewards.
Selected incubated projects that pass a thorough screening process get to work with the core Alpha team to successfully launch and grow their DeFi projects. The Alpha Launchpad provides hands-on support, mentorship, and guidance in all areas of a project’s business.
For teams interested in applying for Alpha Launchpad, check out the application process here.