pSTAKE Raises $10M to Bootstrap Liquid Staking Protocol

Persistence ecosystem project pSTAKE has raised $10M in a strategic funding round led by Three Arrows Capital, Sequoia India, Galaxy Digital, and Defiance Capital to bootstrap its burgeoning liquid staking protocol.

pSTAKE has been meticulously designed to address the challenges of PoS staking and improve the end-user experience to drive mass adoption. With pSTAKE’s TVL surpassing $30M, its vision has resonated with many of the industry’s biggest names, and now thrilled to announce the successful closure of its $10M funding round.

In the process of securing funds to bootstrap liquid staking protocol, pSTAKE have forged invaluable relationships with many industry-leading funds, major PoS validators and influential DeFi-focused angels.

ABOUT pSTAKE
pSTAKE is a liquid staking solution that unlocks the potential of staked PoS assets (e.g. ATOM). PoS token holders can deposit their tokens on the pSTAKE application to mint 1:1 pegged ERC-20 wrapped unstaked tokens, which are represented as pTOKENs (e.g. pATOM) that can then be transferred to other wallets or smart contracts on the Ethereum network to generate additional yield.

ABOUT 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.

RESOURCES
https://blog.pstake.finance