Alpha Finance Lab, a DeFi ecosystem and platform, lately introduced the second one Alpha Launchpad undertaking, pSTAKE, a ‘Liquid Staking’ DeFi protocol that unlocks liquidity of staked belongings.
Designed as a liquid staking resolution, pSTAKE unlocks the real possible of staked PoS belongings (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 will also be transformed into 1:1 wrapped ERC-20 staked representatives referred to as stkTOKENs through staking the underlying deposited PoS tokens. stkTOKENs will also be regarded as yield producing tokens. Since stkTOKENs constitute staked tokens, they accrue staking rewards within the type of pTOKENs (This mirrors the workings of maximum PoS chains the place rewards aren’t mechanically compounded, however earned within the type of liquid tokens which will also be claimed through a consumer at any time limit).
Additional, pSTAKE lets in its customers to make use of stkTOKENs in quite a lot of DeFi protocols to earn a yield on best in their staking rewards.
Decided on incubated tasks that go an intensive screening procedure get to paintings with the core Alpha crew to effectively release and develop their DeFi tasks. The Alpha Launchpad supplies hands-on fortify, mentorship, and steering in all spaces of a undertaking’s trade.
For groups curious about making use of for Alpha Launchpad, take a look at the appliance procedure here.