pStake and Persistence: the case for stkBNB as BNB's leading LST
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Argues pStake could lead BNB liquid staking thanks to Binance Labs backing, being the only LST in Binance's institutional custody, the lowest fees and DeFi integrations, with Persistence restaking as upside.
Key claims
Only LST integrated with Binance institutional custody
Lowest BNB liquid staking fees
Integrated with PancakeSwap, Venus, Radiant and Thena
I'm bullish on @PersistenceOne and its ecosystem. 🚀✨
Persistence is a Cosmos SDK-based blockchain focused on LSTfi and has recently announced a novel restaking model. Basically, Persistence's crypto-economic PoS security layer will become asset agnostic.
With BNB, the leading LST protocol on Persistence @pStakeFinance is now tapping into another large pool of idle liquidity that is seeking yield.
Considering the unique value proposition, I could see pStake become the #1 liquid staking provider in the @BNBCHAIN ecosystem.
Let me explain why anon:
✦ Backed by @BinanceLabs.
✦ Only LST integrated with @Binance's institutional custody solution, which might help drive institutional and whale adoption.
✦ pStake offers the lowest BNB liquid staking fees.
✦ pStake already has partnerships with the biggest DeFi protocols, including @PancakeSwap, @VenusProtocol, @RDNTCapital, @ThenaFi_ and more. This allows LST holders to acces the highest LSTfi yields.
✦ In the future, you will probably be able to restake your stkBNB from pStake on @PersistenceOne, opening up another interesting avenue to earn yield.
✦ @pStakeFinance will likely issue LRTs for assets that are restaked with Persistence. That means users will be able to not only restake stkBNB and earn yield on top of the BNB staking yield, but also to deploy the BNB LRT within partner protocols (see above), down the road.
All of this will help drive the crypto-economic security of the Persistence chain, which subsequently strengthens its position as a resilient base layer for LSTfi applications.
More to come anon. 👀
twitter.com/pStakeFinance/status/1770821134541263344
QUOTING @pStakeFinance
$BNB liquid staking has the potential to grow 40x to become as big as $ETH today 📈 Like a rocket, ready to launch! 🚀 Discover the growing landscape and our 4 thesis points for $stkBNB by @pStakeFinance to capture a substantial market share 👉🏼 blog.pstake.finance/2024/03
$BNB liquid staking has the potential to grow 40x to become as big as $ETH today 📈 Like a rocket, ready to launch! 🚀 Discover the growing landscape and our 4 thesis points for $stkBNB by @pStakeFinance to capture a substantial market share 👉🏼 blog.pstake.finance/2024/03
What came next · since 25 Mar 2024
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This piece lays out a thesis on the sector without making a call on the token, so price moves since publication are shown as market context.
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Zero has written 3 more pieces on pStake since this one.
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