Binance Labs Makes a Strategic Investment in Liquid Staking Protocol pSTAKE

Binance Labs announces its latest strategic investment in pSTAKE Finance, a liquid staking protocol developed by Persistence, to bring more liquid staking into the BNB ecosystem. Proof-of-Stake assets such as BNB can be staked on pSTAKE to mint liquid staked representative tokens (stkASSETs), which can be used in DeFi protocols to earn staking rewards and additional yield. pSTAKE currently supports liquid staking for $ATOM and $XPRT and has integrated with leading DeFi protocols such as Anchor Protocol and Sushi. It also has launched a testnet for ETH2.0 liquid staking, with support for Solana, Avalanche, and BNB Chain going live in the coming months. Other investors of the project in 2021 are Three Arrows Capital, Sequoia Capital India, Coinbase Ventures and others.