Liquid staking protocol pSTAKE raises $10M from notable cryptocurrency venture capital firms and angel investors -Breaking
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Tuesday saw pSTAKE (a liquid staking protocol derived from Decentralized Finance Platform Persistence) announce in a statement to Cointelegraph it has closed a $10 Million strategic financing round from venture capitalists. Tendermint (the Cosmos’ core developerPersistence Blockchain with its Consensus Engine powered by.
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 their staked assets to farm yields in a liquidity provider pool, or vice versa. It allows investors to hold multiple layer derivatives of their tokens. This creates compounded higher yields but is more risky.
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