Users can provide liquidity to the Midas pool with $stkBNB, $BNB, or their stkBNB/BNB LP tokens from PancakeSwap to borrow $BNB. They can be used as collateral as such: stkBNB (75% LTV) BNB (75% LTV)stkBNB/BNB $CAKE LP (75% LTV). All LP tokens used as collateral on Midas will continue to earn yield farming rewards while in the pool. As PStake announced its Partnership with Midas Capital.

What is Midas Capital?

There are 3 parts to “Midas Capital,” and it is important to recognize the differences between each party involved.

• The Midas Capital Protocol: A DeFi protocol that is built using Smart Contracts and run autonomously on EVM compatible blockchains in order to put crypto assets to use.
• The Midas Capital UI: A web app that provides easy to use tooling in order to interact with the decentralized protocol. This interface is one of the many ways of interacting with the Smart Contracts.
• The core Midas team that will lead the protocol to full decentralization.

Midas Pools

The protocol allows users (individuals, protocols, DAOs, institutions) to choose all of their custom parameters and isolate risk, rather than using a large lending and borrowing pool on other platforms.

• Fees: By default, 10% of all interest paid by borrowers or earned by lenders is distributed to the treasury.
• Permissionless Lending and Borrowing Purpose

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About pSTAKE

pSTAKE is a liquid staking 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.

At present, pSTAKE supports Binance Chain (BNB), Cosmos (ATOM), Persistence (XPRT), and Ethereum (ETH) networks’ native tokens, with a view to support more chains and assets in the future (SOL, and AVAX).

Website | Twitter 

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About Midas Capital

Midas Capital is a cross-chain money market solution that unlocks and maximizes the usage of all digital assets and makes them work for you.

Website | Twitter 

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Beefy Finance is a decentralized, multi-chain yield optimizer built on BNB Chain that allows users to earn compound interest on their digital assets through various investment strategies and features. At the time of writing, the platform supports 16 blockchains and has $321M+ in TVL (Total Value Locked).

Auto-Compounding: Liquidity Providing

Users can deposit their BNB on Beefy Finance where 50% is instantly converted into stkBNB. Then used to provide liquidity to PancakeSwap stkBNB/BNB farm. The protocol automatically sells earned rewards and reinvests them into the same pool to auto-compound.

This entire process is executed with a single transaction through the platform’s interface. This way, users can deposit and earn rewards by directly depositing BNB or stkBNB into Beefy’s vault, making everything smooth and seamless.

ABOUT pStake

pSTAKE is a liquid staking 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 stake underlying representative tokens (stkASSETs) which can be use to explore additional yield opportunities across DeFi. At present, pSTAKE supports Binance (BNB), Cosmos (ATOM), Persistence (XPRT), and Ethereum (ETH) networks’ native tokens, with a view to supporting more chains and assets in the future (SOL, and AVAX).

Website | Twitter

ABOUT Beefy Finance

Beefy is a decentralized, multi-chain yield optimizer that allows its users to earn compound interest on their crypto holdings. Beefy earns high APYs with safety and efficiency in mind. Through a set of investment strategies secured and enforced by smart contracts, Beefy automatically maximizes the user rewards from various liquidity pools (LPs). ‌Automated market-making (AMM) projects,‌ ‌and‌ ‌other yield‌ farming ‌opportunities in the DeFi ecosystem.

Website | Twitter

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pStake Finance

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pSTAKE aim to have millions of user funds liquid staked via the protocol, security is of the utmost importance for them.

Immunefi is Web3’s leading bug bounty platform (protecting USD100 billion in user funds) through which security researchers, developers, and more can review code and disclose vulnerabilities in smart contract-based applications for compensation.

The bug bounty program covers stkBNB’s smart contracts and apps and is focus on the prevention of loss of user funds, denial of service, governance hijacks, data breaches, and data leaks.

Rewards by Threat Level

Based on the Immunefi Vulnerability Severity Classification System 2 (IVSCS), rewards are distributed according to the impact of the vulnerability.

This is a simplified 5-level scale (separate for websites/apps and smart contracts/blockchains) encompassing all the aspects of a bug, from the consequence of a successful exploit to the level of access required to exploit it, to the probability that an exploitation attempt will be successful.

Smart Contracts and Blockchain*

• Critical – USD 25,000 to USD 300,000
  Loss of user funds:
  📌 10% of assets at risk, minimum USD 50,000 and maximum USD 300,000
  Loss of non-user funds (e.g. treasury):
  🌠 10% of assets at risk, minimum USD 25,000 and maximum USD 200,000
• High – USD 20,000 to USD 100,000
  👉🏽 10% of assets at risk, minimum USD 20,000 and maximum USD 100,000
• Medium – USD 20,000
• Low – USD 1,000

Website and Apps*

• Critical – USD 20,000
• High – USD 5,000
• Medium – USD 2,000
• Low – USD 1,000

The numbers mentioned above are tentative and finalizes before launching the bug bounty program. The impacts covered by the bug bounty program & their severities will be updated on the stkBNB Immunefi Bug Bounty Program page.

All smart contracts, and web and app bugs must come with a Proof of Concept (PoC) to be accepted. All such bug reports without a PoC will be rejected with a request to include the PoC.

Payouts handle by the pSTAKE team directly and are denominates in USD. Payouts in PSTAKE, USDC, and BUSD, at the discretion of the pSTAKE protocol.

ABOUT pSTAKE

pSTAKE is a liquid staking protocol unlocking the liquidity of staked assets. Stakers of PoS tokens can now stake their assets while maintaining the liquidity of these assets. On staking with pSTAKE, users earn staking rewards and also receive 1:1 peg stake representative tokens (stkTOKENs) which use in DeFi to generate additional yield (yield on top of staking rewards).

Website | Twitter

ABOUT Immunefi

Immunefi is Web3’s leading bug bounty platform, protecting $100 billion in user funds.

Website | Twitter

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pSTAKE Forum

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pStake has always taken a security-first approach while building products. Upon finalization of security audits (expected mid-next week), they are targeting the launch of stkBNB tentatively in the next 2 weeks.

How does stkBNB (pSTAKE’s liquid-staked representative for BNB) work?

Stake

pSTAKE’s BNB liquid staking solution will allow you to stake any non-zero amount of BNB. You will be instantly issued stkBNB which follows an exchange rate model (inspired by the Compound’s cToken model). The value of your stkBNB will keep increasing against BNB as it accrues staking rewards in the background. We have even gone one step further to enable auto-compounding on your BNB staking rewards to allow you to generate the highest yields.

Unstake

Furthermore, when you perform an unstake transaction on the pSTAKE application, the stkBNB deposited by you is burnt. A claim request for an equivalent amount of BNB based on the ongoing exchange rate (c-value) will be created against your wallet. You can then claim the unstaked BNB from the pSTAKE application after 15 days (this allows us to safely undelegated funds from validators). You will stop earning rewards after performing the unstake transaction.

Alternatively, you can swap your stkBNB for BNB directly from the liquidity pools on DEXs such as PancakeSwap.

 Rewards for liquid staking BNB

Staking rewards on BNB come from the transaction fees paid by users of the BNB chain and thus vary according to the network activity. They also received for delegating BNB to BNB Chain validators every epoch (24 hours). Validators take their cut from rewards before sharing it with the stakers. In the case of the pSTAKE protocol, as claimable tokens. The pSTAKE will delegate to the top performing validators to increase staking rewards.

 The rewards earned are split into two parts

• 97%* goes to stkBNB holders in the form of stkBNB value appreciation: This will happen every epoch as staked BNB accrues rewards.
• 3%* goes to the protocol: The protocol fee is managed by a contract and is targeted towards developmental activities like hackathons, grants, bug bounties, etc. to support the long-term growth of the pSTAKE ecosystem.

*The current distribution will be finalized upon further feedback. The fee distribution can be amended in the future through pSTAKE Governance.

Whitelisted set of validators

The initial set of whitelisted validators will be selected from the Top Validators on BNB Chain based on a scoring mechanism that uses various parameters like APR, slashing instances, and uptime

Will stkBNB be audited separately?

The stkBNB contracts have already been audited by PeckShield and they are currently awaiting an audit report from Halborn. The mainnet will go live only after these audits are successfully received.

pStake is continuously working with Certora to verify the rules in our smart contracts and has finished on the most critical ones. They are integrating with Forta to enable on-chain tracking of the contracts right from the launch. Furthermore, they will also be launching a bug bounty program along with Immunefi to allow white-hat hackers to stress test the product.

ABOUT pStake

pSTAKE is a liquid staking protocol unlocking the liquidity of staked assets. Stakers of PoS tokens can now stake their assets while maintaining the liquidity of these assets. On staking with pSTAKE. Additionally, users earn staking rewards and also receive 1:1 pegged staked representative tokens (stkTOKENs). It can also be used in DeFi to generate additional yield (yield on top of staking rewards).

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RESOURCES

pStake Finance

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