Since the launch of Bitcoin and its exponential, Proof of stake protocols have also been on the rise. Also known as PoS protocols these have now replaced the proof of work models that used more energy than the newer protocol.
This was done to lessen the environmental impact of cryptocurrencies as mining them is a power-intensive process. This transition to the PoS model means that liquid staking options have also now come to the forefront. This means that the owner of the digital assets will be able to tap into the value of tier tokens. They will be able to see the value of their assets on the network in real-time.
pSTAKE is one of the leading finance platforms that offer this with a long term plan of adding more utility to the PoS model.
It started from the multichain stack Persistence protocol that supported ETH and Cosmos coins. And now it is being slowly adapted for Web3 products and services. The project has been going strong and in the November of 2021 it completed its seed funding round at $10 million. The investors include Galaxy Digital, Tree arrows Capital, Coinbase and Alameda Research.
The funds will be used to make the liquid staking even better and improve the protocol. This means that there will always be liquidity for all the users on the network and platform. It is a novel venture into something that hasn’t been done before.
If you have been planning on diversifying your portfolio then become an early adopter of such tech and reap the benefits in the future.