Announcing Alpha Launchpad’s Second Incubated Project: pSTAKE

Announcing Alpha Launchpad’s Second Incubated Project: pSTAKE

Introducing the second Alpha Launchpad project, pSTAKE! pSTAKE is a ‘Liquid Staking’ DeFi protocol that unlocks liquidity of your staked assets.

Since pSTAKE is Alpha Launchpad project, Alpha Wolves community will be able to obtain pSTAKE tokens by staking ALPHA on Alpha Tokenomics, similar to the launch of Beta Finance, when pSTAKE token is live.

pSTAKE will be allocating 2% of the total genesis supply (10,000,000 tokens) of pSTAKE, to Alpha Launchpad. 1.65% will go to ALPHA stakers and the remaining 0.35% to Alpha Launchpad team. As we approach the launch of pSTAKE token, we will share more details on the unlocking and vesting schedule of the tokens for ALPHA stakere, but for now, ALPHA stakers can look forward to receiving 25% of the allocation once the pSTAKE token is launched!

What is pSTAKE?

Let’s dive deeper into the details of pSTAKE protocol to learn more about what they offer. Normally, when users stake their tokens on Proof of Stake (PoS) and DeFi protocols, they lose their tokens’ liquidity, meaning that those tokens are locked up and cannot be used elsewhere.

However, when users stake their tokens via the pSTAKE protocol, users can receive the usual staking rewards, additional incentives for staking on pSTAKE, as well as liquidity of their staked assets. This liquidity is unlocked from the new stkTOKEN that will be minted upon users staking the PoS or DeFi TOKEN via pSTAKE. In this case, users can have the PoS or DeFi TOKEN be staked to earn staking rewards and unlock liquidity using stkTOKEN on other DeFi platforms.

How does pSTAKE unlock liquidity for staked assets?

Firstly, when users deposit their tokens, for instance ALPHA (when it is supported), on the pSTAKE platform, pSTAKE will stake these ALPHA tokens on Alpha Tokenomics and mint stkALPHA for stakers. stkALPHA is a pegged ERC20 wrapped version of ALPHA, representing the ALPHA tokens staked on 1:1 ratio. As a result, users can receive staking rewards for staking ALPHA while using these stkALPHAs to earn more yields on other DeFi protocols such as DEXes, borrowing / lending and many other protocols.

Alpha Launchpad x pSTAKE

Cryptocurrency is well known for various things, but undeniably for its price volatility. When there are big price movements in their staked tokens, some stakers may wish to unstake but are unable to due to bonding periods or high gas fees. Additionally, many stakers wish they have liquidity of the staked assets to earn more yields of the staked, idle assets. For these reasons, pSTAKE solves issues for stakers as it will maximize the capital efficiency of their staked assets. With their token liquidity in possession, they are free to sell or buy more stkTOKENs anytime they like.

Every project incubated from the Alpha Launchpad has to go through a ‘high standard of evaluation process’. This process warrants the quality of projects incubated by Alpha Launchpad, confirming that projects will have a strong product-market fit along with bringing real value to our ecosystem. With these goals in mind, pSTAKE undeniably aces through the evaluation criteria. Alpha Launchpad is thrilled to have pSTAKE as our second Alpha Launchpad project seeing that it can give the Proof of Stake and DeFi community the latest innovation on token staking mechanism.  

Closing Thoughts

The Alpha Launchpad incubator program provides every incubated project with an effective business plan from all dynamic angles, whether it's the product-market fit, tech advice, or even fund-raising strategies. We would do our best to advise and incubate projects that bring real and long-term value to our community, whether in DeFi, Proof of Stake, NFT, Metaverse, or other segments. Lastly, Alpha Launchpad projects also bring value accrual to ALPHA stakers by distributing their tokens to the stakers who support our ecosystem. For any teams interested in applying for Alpha Launchpad, check out our application process here.

About Alpha Finance Lab

Alpha Finance Lab is a DeFi Lab, and on a mission to build Alpha Universe. Alpha Universe includes the Alpha ecosystem, which consists of Alpha products that interoperate to maximize returns while minimizing risks for users, and other ecosystems incubated through the Alpha Launchpad incubator program.

Alpha Homora is Alpha Finance Lab’s first product and DeFi’s first leveraged yield farming product that also captures the market gap in lending, one of the key pillars of the financial system.

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