pSTAKE Secures Strategic Investment from Binance as It Adds Support for BNB -Breaking
[ad_1]
Binance’s Strategic Investments Secured by pSTAKE, It Supports BNBBinance Labs, the venture capital arm of Binance – the largest crypto exchange by trading volume – conducted a strategic investment in pSTAKE, a liquid staking protocol built by Persistence. Binance believes that this investment will help bring more DeFi innovation and liquid staking to the BNB ecosystem.
With pSTAKE, users can both stake Proof of Stake (PoS), assets and generate yield in the Decentralized Finance (DeFi) area. Through pSTAKE, users can secure PoS tokens while also receiving fully-backed representative tokens (stkASSETs), which can be applied in DeFi for further yield.
Binance’s native token, BNB, is also a PoS asset, and pSTAKE is adding it to its growing list of supported tokens. Persistence will soon allow users to hold BNB on its platform to increase their yield.
Ken Li, Binance Labs Executive Director
[ad_2]