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pSTAKE Token Sale Register Whitelist on CoinList

pSTAKE is the protocol that unlocks liquidity for your staked assets. With pSTAKE, you can securely stake your Proof-of-Stake (PoS) assets, participate in protocol improvements and security to earn staking rewards, and receive 1:1 pegged staked representative tokens which can be used to explore yield opportunities across DeFi.

pSTAKE Token Sale Register

At first, you should register account on CoinList.co.

Then, register pSTAKE here: https://coinlist.co/pstake#sale-details

Coinlist announced new project pSTAKE 🔥

📆 Registration closing 14 December 00:00 UTC

▪️ Option 1 – 16th December 18:00 UTC
• Price – $0.4
• Allocation – $100 – $500
• 25% unlock 25th January, then linear unlock during 6 months
• Participants able to purchase ≈ 20000

Answers

• 25,000,000
• Users in the waiting room for the sale will be given a random spot in the queue when the sale starts.
• Multichain
• Liquid Staking
• BTC, ETH, USDC, USDT, ALGO, SOL
• $0.40 per token, $500 limit
• The user’s purchase may be cancelled and the user…..
• CoinList.co
• The user’s account will be terminated….

To participate you need to register on Coinlist and pass KYC.

Sale Details

Asset PSTAKE tokens
Sale Period Registration Opens: December 7, 2021
Registration Deadline: December 13, 2021 at 23:59 UTC

Sale Period Begins: December 16, 2021 at 18:00 UTC
Sale Period Ends: December 22, 2021 at 23:59 UTC

Price & Lockup Terms $0.40 per token

25% unlock on or around January 25, 2022, followed by a 6-month linear vesting schedule

Supply Limits Supply capped at 25M PSTAKE tokens
Minimum & Maximum Purchase Minimum Purchase: $100
Maximum Purchase: $500
Funding Methods BTC, ALGO, SOL, ETH, USDC, USDT
Sale FAQ FAQ
Eligible Participants Not available for residents and citizens of the United States, China, Canada, South Korea, and certain jurisdictions.

 

About pSTAKE

At present, pSTAKE supports Cosmos and Persistence networks’ native tokens with a view to support more chains and assets in the future.

pSTAKE issues staked representative tokens through a custom bridge built to tap into the growth of the Cosmos ecosystem while accessing the liquidity and composability of Ethereum. Users can either hold these representative tokens as ERC-20 to maintain the liquidity of their staked assets, or use them to discover yields offered by other DeFi protocols.

Key Value Propositions

pBridge

The pSTAKE protocol uses an inter-blockchain bridge named ‘pBridge’ which facilitates the transfer of value between various blockchains, such as Ethereum, Cosmos, Persistence, among many others. While other blockchain bridges only allow for the creation of pegged tokens, pBridge enables interchain staking and unstaking of PoS tokens at the protocol level on their respective native chains.

The purpose of the pBridge is primarily to:

  • Mint 1:1 pegged ERC-20 wrapped representatives or pTokens
  • Stake and unstake these PoS tokens that are deposited on the pBridge
  • Accrue and claim respective staking rewards and replicate them onto the Ethereum blockchain

 

pBridge implements Crash Fault Tolerance by being a multi-party computation based bridge that is secured by some of the industry leading Proof-of-Stake validators.

Dual Token Model

The dual token model of pSTAKE simplifies staking and rewards mechanisms for users and mirrors the exact workings of the PoS networks that it supports.

pTokens are 1:1 pegged ERC-20 unstaked representative tokens that copy the functionality of the underlying PoS network and only represent unstaked tokens on that network. Users can then stake their pTokens with pSTAKE to mint stkTokens, which are 1:1 pegged staked representative tokens. In the background, the PoS assets deposited on the protocol are staked onto the network with leading PoS validators. stkTokens accrue staking rewards in pTOKENs which can also be used in the broader Ethereum DeFi ecosystem.

Fungibility

All issued stkTokens are fungible in nature.

This fungibility is achieved by delegating assets staked on the respective PoS networks evenly across a set of validators participating in the pSTAKE protocol. This proportion of stake distribution will be governed by $PSTAKE token holders after the token launch.

stkToken holders equally share the risk of slashing in the ecosystem. However, these slashing risks are mitigated to a large extent through distributed delegation across multiple validators.

Token Utility and Economics

PSTAKE is an ERC-20 token that provides its holders with a two-fold benefit:

  • Participation in protocol improvement proposals through voting
  • Participation in protocol security

The PSTAKE token functions as the governance and incentivisation/dis-incentivisation token of the pSTAKE protocol. PSTAKE holders are incentivised to participate in the protocol’s governance to ensure its long-term success and security by staking PSTAKE on the pSTAKE staking contract. PSTAKE token holders will have the immediate ability to use the token for its intended functionality .

PSTAKE tokens will also be used as a dis-incentivization token in case stakeholders staking PSTAKE act maliciously or are unable to perform their respective duties appropriately.

Read more about the PSTAKE utility token and its role in the pSTAKE ecosystem here.

Token Distribution & Release Schedule

PSTAKE has a total genesis supply of 500,000,000 tokens.

Segment Total Supply in % Release Schedule
Alpha Launchpad 2% Fully liquid on TGE
Seed Sale 20% 18 month total vesting period: 6-month cliff, followed by 12-month equal monthly vesting
Public Sale 5% 25% vesting at TGE, followed by a 6-month linear vesting schedule
Team 16% 36 month total vesting period: 18 month cliff, followed by 18-month equal monthly vesting
Incentivisation & Community Development 26% 24-month total vesting period: quarterly-vesting starting from TGE
XPRT Stakers 3% 12-month total vesting period: equal monthly-vesting starting from TGE
Treasury 20% 24-month total vesting period: Alternate month equal vesting starting from TGE
Protocol Bootstrapping 2% Fully liquid on TGE
Retroactive Rewards 6% 6-month linear vesting starting from TGE

pSTAKE Community

pSTAKE has been strategically positioned for long-term growth through multiple partnerships with some of the most prominent players in the Proof-of-Stake and DeFi ecosystems.

Team

pSTAKE is developed by Persistence.

Persistence is enabling exposure to multiple asset classes such as Liquid Staking (pSTAKE), NFTs (Asset Mantle), and Synthetics (Comdex). Persistence ecosystem products are designed to stimulate global liquidity and enable seamless value exchange.

The Persistence Team consists of:

Tushar Aggarwal, Co-Founder and CEO at PersistenceA Forbes 30 Under 30 recipient, Tushar co-founded Persistence in 2019 with a mission to facilitate the seamless flow of digital asset classes. Tushar has a background in traditional finance and has worked as a consultant with pwc and Sia Partners before entering into the Crypto space in 2017. In addition, Tushar has helped set up LuneX Ventures, the crypto VC arm of Golden Gate Ventures, a traditional Asia based VC firm, has written extensively about Web3 on Tech in Asia, and hosted the Decrypt Asia podcast.

Deepanshu Tripathi, Co-Founder and CTO at PersistenceDeepanshu is an avid builder, and with Persistence aims to build a base layer for the creation of financial products powered by Web3. He has actively contributed to the Cosmos SDK and ecosystem projects, including Injective, ixo and Comdex, and is prominently known for executing the first cross-chain NFT transaction in the Cosmos ecosystem. Deepanshu has a background in computer science, and before diving into Crypto, he played an instrumental role in developing a unified payment acceptance platform, winning multiple B2B innovation awards.

Mikhil Pandey, Project Lead at pSTAKEMikhil is one of the earliest members of the Persistence team and has played a crucial part in bootstrapping the Persistence ecosystem products/initiatives such as pSTAKE, StakeDrop and AUDIT.one. With a deep interest in DeFi, Mikhil developed strengths in mechanism design and research for Persistence. Mikhil currently leads the pSTAKE team building liquid staking solutions for the Cosmos, Ethereum and Solana ecosystems.

Kamlesh Parikarath Marar, Engineering Lead at pSTAKEKamlesh currently leads the engineering team in building liquid-staking solutions for Cosmos-based assets. He has expertise in smart-contract development and blockchain architecture design. Kamlesh has a background in computer sciences and management. Before joining Persistence, he worked with Infosys and Cognizant leading product development and integration teams.


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