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.

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App: https://eth.pstake.finance/

Twitter: https://twitter.com/pSTAKE_ETH

Discord: https://discord.com/channels/1026449761152290866/1027209100167233616

Blog: https://blog.pstake.finance/category/stketh/