Liquid Staking with IBC: ATOM & stkATOM
DeFi (decentralized finance) in its current state has left an everlasting footprint on the blockchain space, completely transcending finance in the digital realm and sitting at a current $66B+ in TVL (Total Valued Locked).
Originating on the Ethereum network, DeFi has now expanded to the far corners of the industry, now being supported across multiple blockchain networks. In particular, Cosmos made huge leaps and bounds by introducing IBC (Inter-Blockchain Communication Protocol) to bring interconnectivity to siloed blockchain networks.
When it comes to liquid staking, the industry is growing at a rapid pace but has the potential to unlock greater liquidity and activity with asset interoperability between chains — IBC is set to change this, and ATOM (the native token of Cosmos) has tremendous promise to set things off on the right foot.
Throughout this blog, we’ll cover what IBC is and how Cosmos Hub and staked ATOM fit into the overall picture within the IBC environment.
Read the full article on our official blog here: https://bit.ly/3C8kj7G
pSTAKE is a liquid staking protocol that unlocks liquidity for your staked assets. With pSTAKE, you can securely stake your Proof-of-Stake (PoS) assets, participate in protocol improvements and security to earn staking rewards, and receive staked underlying representative tokens (stkASSETs) which can be used to explore additional yield opportunities across DeFi.
At present, pSTAKE supports Binance Chain (BNB), Cosmos (ATOM), Persistence (XPRT), and Ethereum (ETH) networks’ native tokens, with a view to support more chains and assets in the future (SOL, and AVAX).