Intro
pSTAKE’s ETH liquid staking product allows holders of ETH to stake their assets using the ETH 2.0 staking interface. Users are then issued stkETH which follows an exchange rate model, i.e. stkETH value will keep increasing against ETH as it accrues staking rewards in the background.
The ETH deposited by the user onto the pSTAKE application goes to pSTAKE’s issuer contract in the background, as it can’t be immediately staked on the Beacon chain. Once the amount of ETH in the pSTAKE deposit contract reaches 32, then a node operator is chosen (on a first-come-first-serve basis) to run the validator node. The 32ETH then gets staked with this validator. An earlier deposit of 1ETH by the Node Operator ensures that the withdrawal address is correctly set to match the pSTAKE protocol pool.
As of March 2023, pSTAKE is developing a v2 for $stkETH that will bring a new & unprecedented way to liquid stake $ETH.
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Issuer
Integrations
Explore apps and services using stkETH:
stkETH integrations
dApp
Use case
Link
LSD Utility
pSTAKE for ETH community links
Twitter: https://twitter.com/pSTAKE_ETH
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