pStake has 3 key features involved with its utilization. The first feature involves the wrap feature. Using the pStake token allows users to wrap their native tokens in 1:1 pegged ERC-20 pTokens. This pegged PoS token isn’t actually staked to the network and allows the user to utilize their PoS assets within a given crypto network.
The second feature involves the staking feature. Under this feature the users will be able to utilize the stkToken, which is the staked wrapped token that represents the pegged PoS token. This pegged form of the pToken also includes the validators of the network.
The benefit of the pStake project is that it allows individuals to stake their tokens to earn yields, but through the distribution of synthetic tokens as a means in collateralized loans. The third feature involves using the stkTokens within the Defi space. Using these staked wrapped tokens allows the user to operate within different Defi protocols on a given blockchain. Users are able to supply liquidity to a Dex such as Sushiswap, or become involved in borrowing/lending.
Topic: pStake Features (Read 68 times)
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