This season it’s smart staking or nothing with pSTAKE
You know what time it is — a new month at Persistence, and as the tradition is, newsletters are often issued. That’s a good way to be accountable if you ask me. So for September 2021 marks the 12th newsletter for this community.
According to the community report, pSTAKE’s uncapped was launched last month alongside a new listing for $XPRT. That is in addition to new partnership deals and series of discussions and interviews about the future with Persistence One. Below are major highlights of the community report;
- $XPRT listed on Huobi and KuCoin
- pSTAKE airdrop information release
- Huge collaboration with Alpha Finance
- The launch of pSTAKE uncapped for ATOM
That was all about last month, here are the current community events:-
Liquid staking Quiz
The pSTAKE $150 liquid staking quiz was live. Recall that pSTAKE is one of Persistence One arm but you may find the ‘liquid staking a bit novell. We will take time explaining that.
As against the usual kind of staking on DeFi where users can stake a token and let it yield rewards with you not having access to your locked tokens till you are willing to unstake,liquid staking is nothing like it. Liquid staking allows you to make use of your locked tokens in stake but using it as collateral for other trading or investment opportunities. It gives stakers extra advantage of yield generation.
You can gain rewards from the interest the staked assets generate and the yield from additional trading and investment opportunities. Liquid staken tokenizes assets so that you can also use it as collateral to earn staking derivatives on different exchanges and blockchains.
So the quiz was live and the top five respondents were rewarded with $30 in $USDT.
Liquidity for stkATOM
pSTAKE users can now provide liquidity for stkATOM/ETH pool on suchiSwap. All stkATOM holders can now earn staking rewards up to 7% and trading fees plus LP rewards.
pSTAKE’s protocol contract audited
It is in the news now that pSTAKE’s protocol contract has been audited by Peckshield and Solidified. The Duo have, before now remarkably worked on several leading DeFi smart contract auditing firms including Aave, InstaDapp, Maker, Opensea and the likes.
From the audit report, here are the major highlights you should note
Peckshield highlighted, corrected and suggested majority for business logic, time, state, and coding practices
Solidfield provided in-depth analysis with potential corrections for the coding practices for the mainnet release.
The product is undergoing a series of additional comprehensive audits for pBridge and smart contract to meet the highest standard of security.
Not forgetting that @Napelus, a twitter user and member of the Persistence One community has been named the Champion of Champions of the month of October 2021 brings us to this brief.
Persistence One is a large network, packed with on-chain web-3 features that is uncommon to the DeFi ecosystem. This tells in its adoption strategies like the pSTAKE protocol contract audit, liquid staking.
Talking about liquid staking, pSTAKE seems to be offering and exclusive form of staking in DeFi and you sure need to take a leap of stake for a try.
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