pSTAKE General Advisory. Liquid staking builds a path to implement additional use cases for staked assets.

13 May 2022, 15:33

⚠️ pSTAKE General Advisory Liquid staking builds a path to implement additional use cases for staked assets. pSTAKE integrates with DeFi protocols to provide extra utility for stkASSETs. However, these integrations come with inherent risks due to other protocol's mechanisms and are susceptible to vulnerabilities. Our team always closely assesses and monitors these systemic and financial risks for all stkASSET integrations. pSTAKE has completed multiple audits conducted by several leading blockchain security firms to prevent smart contract risks. 🌐 Learn more: stkATOM and stkXPRT holders can currently provide liquidity to the stkATOM/ETH & stkXPRT/ETH pools on SushiSwap. In return, they receive rewards in the form of trading fees and external incentives. Please note that liquidity providing exposes users to the risk of impermanent loss. Similarly, pSTAKE’s integration with @anchor_protocol was aimed to allow $ATOM holders to collateralise their $ATOM to receive $UST loans. But due to the de-pegging of $UST, @anchor_protocol has become unstable for the users. 🌐 Read more: These recent events surrounding the Terra ecosystem are a reminder that DeFi is still in its infancy. The path forward on this journey will be long, but Persistence and pSTAKE will continue to build the foundation for liquid staking. ⚙️ Meanwhile, we urge all our community members and users to practice extreme caution. In case of any questions or concerns, please feel free to reach out to our team. Beware of scammers and imposters. 🗣 Spread the word: Website | Twitter | Telegram | Blog | YouTube | Forum