Transition to liquid Bitcoin staking: pSTAKE Finance and Babylon in the foreground
Date: 2024-05-17 Author: Gabriel Deangelo Categories: BLOCKCHAIN
pSTAKE Finance, in collaboration with Babylon, announced the launch of liquid Bitcoin staking, offering investors a new solution to increase returns in DeFi and expand opportunities on the Bitcoin blockchain.
This innovative solution opens the door for long-term Bitcoin holders, providing them with the opportunity to earn passive and secure income in this original cryptocurrency.
Innovation support
The pSTAKE Finance team, backed by investment from Binance Labs, is committed to leveraging its experience in liquid staking on the Cosmos network to offer an effective solution for liquid Bitcoin staking based on its belief in the world's #1 cryptocurrency.
Main mission
Co-founder and Chief Strategy Officer of pSTAKE Finance, Mikhail Pandey, emphasized that the creation of this solution was based on a fundamental belief in Bitcoin and the desire to make it an asset that generates income.
Growing Interest in DeFi on the Bitcoin Network
The initiative fits into the general trend of development of decentralized finance in the Bitcoin blockchain, which became noticeably relevant after the halving in April 2024 and the launch of a new token standard - Runes.
Development of investment opportunities
pSTAKE joins a number of other protocols, such as Stroom, Babylon and Social Network, aiming to make Bitcoin staking a profitable asset, confirming the growing interest of investors in this area.
