Liquid staking protocol pSTAKE raises $10M from notable cryptocurrency ventur...

Liquid staking protocol pSTAKE raises $10M from notable cryptocurrency ventur...

Twelve venture capital firms and three angel investors have joined in to fund the DeFi protocol. On Tuesday, pSTAKE, a liquid staking protocol from decentralized finance (DeFi) platform Persistence, announced in a statement provided to Cointelegraph that it had closed a $10 million strategic funding round from venture capital firms. Tendermint, the core developer behind the Cosmos network, powers Persistence blockchain with its consensus engine.Liquid staking is the practice of users “double-dipping” with their crypto assets — i.e., allowing them to stake their crypto in one pool and use....


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$PSTAKE and $XPRT are Poised to Make Persistence the Epicenter for Liquid Sta...

Across the proof-of-stake (PoS) industry, a vast number of users and protocols have been long reaping the benefits of the PoS consensus mechanism. It is not only an easy and practical way to secure blockchain networks but also a fool-proof way for users to earn high APYs in exchange for their participation via staking. However, the fact that staked assets remain locked for extended periods of time, limits their usability and deters many users from staking altogether. This is precisely why liquid staking as a means of unlocking liquidity of staked assets is being explored within DeFi, and....

$PSTAKE Breaks CoinList Record on the Way to a $10 Million Fund Raise

Liquid staking protocol pSTAKE just broke a record and everyone in the DeFi sector of crypto should be talking about it. Not only did the project raise $10 million on CoinList, it broke a record for the fundraising platform. More than 949,000 people registered for the token sale, easily the most ever in comparison to […]

pSTAKE Finance brings liquid staking and a new airdrop to the Cosmos ecosystem

Similar to Lido and Anchor Protocol, pSTAKE brings liquid staking to the Cosmos ecosystem and allows ATOM and XPRT holders to integrate with DeFi on a deeper level. One of the most significant transitions to occur for the cryptocurrency ecosystem since the launch of Bitcoin (BTC) has been the increasing dominance of proof-of-stake (PoS) protocols over the proof-of-work (PoW) model, primarily due to energy requirements of the PoW model and growing concern over its environmental impact. As more projects launch or transition to the PoS model, a new class of protocols have emerged that are....

Altcoins stage a relief rally while Bitcoin traders decide whether to buy the...

Stocks and altcoin prices bounced as the sell-off in BTC took a pause, but analysts continue to warn that further downside could occur shortly. The similarity in price action between the crypto and traditional financial markets remains quite strong on May 10 as traders enjoyed a relief bounce across asset classes following the May 9 rout, which saw Bitcoin (BTC) briefly dip to $29,730.Market downturns typically translate to heavier losses in altcoins due to a variety of factors, including thinly traded assets and low liquidity, but this also translates into larger bounces once a recovery....

ClayStack raises $5.2M for liquid staking protocol

“We believe ClayStack has developed an efficient solution that addresses the shortcomings of present-day liquid staking protocols,” said CoinFund Founder and CEO Jake Brukhman. CoinFund was among several blockchain venture firms to participate in the raise. Cryptocurrency staking protocol ClayStack has secured $5.2 million in seed funding from several prominent blockchain investor funds, putting it on course to introduce new innovations in staking later this year.The seed round was co-led by CoinFund and ParaFi Capital, with around a dozen other venture funds also participating, ClayStack....