Binance-backed pSTAKE Finance launches Bitcoin liquid staking solution

📆 15/05/2024 10:17:00
📰 Cointelegraph

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pSTAKE is among the most recent protocols making Bitcoin a yield-generating asset with more capital efficiency.

Binance Labs-backed liquid staking protocol pStAKE Finance has unveiled its liquid staking solution for Bitcoin in the latest development for Bitcoin-native decentralized finance .

The launch of the liquid staking solution marks pSTAKE’s first endeavor into Bitcoin-native DeFi, after building its liquid staking protocol on Cosmos for the past three years.pSTAKE’s new solution is among many protocols aiming to make Bitcoin a yield–generating asset. According to pStake’s co-founder, the BTCFi industry is seeing the culmination of various promising products that make Bitcoin more capital-efficient. However, he believes that there’s still more development needed before BTCFi could match Ethereum-level DeFi. Pandey explained:

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