A deeper dive into the concepts of pSTAKE.
Persistence is a protocol powering institutional open finance by facilitating the borrowing of crypto assets (stablecoins) using real-world assets, such as invoices, as collateral. This bridges DeFi and traditional finance and uses the features of DeFi to solve real-world financing problems.
Persistence is a liquid staking application that lets you stake your ATOM tokens while simultaneously generating yield on the DeFi ecosystem
THINGS NEEDED FOR THE USE OF pSTAKE APPLICATION
1. Unbonded ATOM token that can be deposited on pSTAKE
2. Metamask and Ethereum wallet
3. Ethereum to cover the fees of the Ethereum Network
In pSTAKE, one can take staked assets ( ATOM token or XPRT )that are normally locked into staking and simultaneously generate yield off them by deploying tokens that are pegged to the staked token in other applications
THE pSTAKE APPLICATION GUIDE
♦️Go to the pSTAKE.finance website
♦️Click launch pSTAKE
♦️Connect Metamask
♦️Connect account to the site
♦️Deposit ATOM to the pSTAKE application
♦️Click Wrapped
♦️Select the amount one would want to wrap into pATOM
♦️Do the Wallet Transaction
♦️Copy out the Wallet Address and send transaction to pSTAKE
♦️Copy out the Memo to enable the transaction
♦️Confirm the transaction on pSTAKE
HOW TO STAKE ATOM ON pSTAKE WALKTHROUGH
♦️Go to the pSTAKE tab on the left side of the website
♦️Select the amount of pATOM one needs to stake
♦️Click stake
♦️Carry out the transaction
N/B Transaction fees are normally paid and Metamask will send a notification if successful
Over time, users would be getting staking rewards on their pSTAKE ATOM. It’s advised that users stake amounts that they are comfortable with
Unstaking can be done on the unstake tab.
Follow Persistence social outlets to stay up-to-date with the latest developments.
