pSTAKE Finance

pSTAKE launched its stkBNB mainnet (BNB liquid staking solution) on August 8, 2022, kickstarting with a bang as demand and interest rose rapidly.
With the full product now live and the team’s monumental efforts to continue improving the protocol’s features and technology, things are looking strong for pSTAKE.
Today, we’ll provide high-level coverage of the launch and where things stand today.
Launch Highlights
stkBNB’s mainnet launch has gained quick momentum, with the number of staked BNB (and proportional minted stkBNB) soaring from day one.
Just 3 weeks into launch, stkBNB has a TVU (Total Value Unlocked) of $4.5M+, growing roughly 1,470% from its initial starting value of ~$289K. In addition, 16,417.2 tokens have been minted to date. <img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/be488a3ee2ad4812ba7c52b7d7efc459.png">

DeFi Integrations
pSTAKE has been partnering and integrating with some of the top protocols and dApps on BNB Chain to enable greater utility for stkBNB across its DeFi ecosystem.
All current integrations are below for stkBNB/BNB:
<ul>
 <li><a href="https://pancakeswap.finance/farms" rel="noopener noreferrer nofollow">PancakeSwap</a>: Swapping, liquidity providing, and farming providing over 5% APR for the stkBNB/BNB pool, with a TVL of $8.2M. Read here: <a href="https://blog.pstake.finance/category/product/stkbnb/" rel="noopener noreferrer nofollow">https://blog.pstake.finance/category/product/stkbnb/</a> </li>
 <li><a href="https://app.alpacafinance.org/farm" rel="noopener noreferrer nofollow">Alpaca Finance</a>: Leverage yield farming (up to 4x leverage) on the stkBNB/BNB PancakeSwap pool where users can earn up to 32% APR - the TVL is currently $8.2M. Read here: <a href="https://blog.pstake.finance/2022/08/06/alpaca-finance-to-enable-leveraged-yield-farming-for-stkbnb-pstake/" rel="noopener noreferrer nofollow">https://blog.pstake.finance/2022/08/06/alpaca-finance-to-enable-leveraged-yield-farming-for-stkbnb-pstake/</a> </li>
 <li><a href="https://app.beefy.com/vault/cakev2-wbnb-stkbnb" rel="noopener noreferrer nofollow">Beefy Finance</a>: Auto-compounding interest where users can earn over 5% APY from the stkBNB/BNB pool. Read here: <a href="https://blog.pstake.finance/2022/08/18/pstake-x-beefy-finance-integrates-to-introduce-compound-interest-for-stkbnb/" rel="noopener noreferrer nofollow">https://blog.pstake.finance/2022/08/18/pstake-x-beefy-finance-integrates-to-introduce-compound-interest-for-stkbnb/</a> </li>
 <li><a href="https://openleverage.finance/" rel="noopener noreferrer nofollow">OpenLeverage</a>: Margin trading/leveraged staking for stkBNB holders (up to 6x leverage) and lending opportunities for BNB holders. Read here: <a href="https://blog.pstake.finance/2022/08/30/pstake-x-openleverage-introduce-stkbnb-margin-trading-leveraged-staking/" rel="noopener noreferrer nofollow">https://blog.pstake.finance/2022/08/30/pstake-x-openleverage-introduce-stkbnb-margin-trading-leveraged-staking/</a></li>
</ul>
The growth and adoption of stkBNB on these platforms have also seen an impressive rise since its launch:
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/4afed0dbdc334d7880353de1a97832dd.png">
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/ec82b1dd02654676bec9161de4a45585.png">
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/902edc5d7bf04b3cbcc6f668acc4c300.png">
Supported Wallets
To provide more options for users to interact with the above integrations and hold/trade their stkBNB, pSTAKE has partnered with the following trusted wallet providers:
<ul>
 <li><a href="https://metamask.io/" rel="noopener noreferrer nofollow">MetaMask</a></li>
 <li><a href="https://chrome.google.com/webstore/detail/binance-wallet/fhbohimaelbohpjbbldcngcnapndodjp" rel="noopener noreferrer nofollow">Binance Wallet</a></li>
 <li><a href="https://trustwallet.com/" rel="noopener noreferrer nofollow">Trust Wallet</a></li>
 <li><a href="https://mathwallet.org/en-us/" rel="noopener noreferrer nofollow">Math Wallet</a></li>
 <li><a href="https://coin98.com/" rel="noopener noreferrer nofollow">Coin98</a></li>
 <li><a href="https://www.ledger.com/" rel="noopener noreferrer nofollow">Ledger</a> (via WalletConnect)</li>
</ul>
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/aa46694e341449df8bec753202862b9a.png">
Users can import their stkBNB and utilize it across BNB Chain’s DeFi ecosystem through the platform’s integrations. pSTAKE’s team is continuing to look into other wallet integrations to broaden stkBNB’s horizons.
Security Efforts
One of pSTAKE’s highest priorities has been to increase its security efforts for its stkBNB product.
Here’s a list of what they’ve accomplished so far:
<ul>
 <li><a href="https://www.certora.com/" rel="noopener noreferrer nofollow">Certora</a> formal verification of the stkBNB smart contract</li>
 <li><a href="https://m.peckshield.com/" rel="noopener noreferrer nofollow">Peckshield</a> and <a href="https://halborn.com/" rel="noopener noreferrer nofollow">Halborn</a> security audits</li>
 <li>Launch of <a href="https://immunefi.com/bounty/pstake/" rel="noopener noreferrer nofollow">Immunefi Bug Bounty program</a></li>
 <li>On-chain tracking with <a href="https://forta.org/" rel="noopener noreferrer nofollow">Forta Network</a></li>
</ul>
Their team continues to perform more verifications for additional contracts and explore other ways to make the pSTAKE protocol more robust.
Earning Yield with stkBNB
Users can maximise their yield on stkBNB by using different strategies through pSTAKE’s DeFi integrations on BNB Chain.
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/ae5eb9d9b960414db4f700f38b80f1d5.png">
Check out our comprehensive user guide blog and video tutorials here:
Check out our comprehensive user guide blog and video tutorials here:
Blog: <a href="https://blog.pstake.finance/2022/08/07/stkbnb-user-guide-bnb-liquid-staking-tutorial/" rel="noopener noreferrer nofollow">https://blog.pstake.finance/2022/08/07/stkbnb-user-guide-bnb-liquid-staking-tutorial/</a>
Video: <a href="https://www.youtube.com/watch?v=vRIepQiVZ7Q" rel="noopener noreferrer nofollow">https://www.youtube.com/watch?v=vRIepQiVZ7Q</a>
pSTAKE is continuing to move closer toward establishing stkBNB as the base asset for the BNB Chain ecosystem. BNB liquid staking lets users contribute to on-chain network security and receive staking rewards while simultaneously unlocking liquidity, supercharging BNB Chain DeFi, and encouraging more users to participate.
Track the Numbers
Want to stay up to date on the latest statistics and metrics relating to stkBNB and pSTAKE’s current BNB Chain integrations?
You can view everything you need in one place through their dedicated Dune Analytics dashboard, designed specifically for the stkBNB product.
Link: <a href="https://dune.com/shini/pstake-stkbnb-asset" rel="noopener noreferrer nofollow">https://dune.com/shini/pstake-stkbnb-asset</a>

pSTAKE’s stkBNB: Current Progress & Milestones

pSTAKEfinance

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