pSTAKE is a liquid staking solution that unlocks the true potential of staked PoS assets (e.g. ATOM). PoS token holders can deposit their tokens onto the pSTAKE platform to mint 1:1 pegged ERC-20 wrapped unstaked tokens represented as pTOKENs (e.g. pATOM). pATOM can be converted into 1:1 wrapped ERC-20 staked representatives called stkATOM by staking the underlying deposited PoS tokens. stkATOM can be thought of as yield generating tokens. Since stkATOM represent staked tokens, they accrue staking rewards in the form of pTOKENs (This mirrors the workings of most PoS chains where rewards aren’t automatically compounded, but earned in the form of liquid tokens which can be claimed by a user at any point in time). pSTAKE allows its users to utilize stkATOM in various DeFi protocols to earn yield on top of their staking rewards.
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