The pSTAKE protocol aims to unlock the value of assets staked on proof-of-stake blockchains. Users can deposit native staking assets and receive the equivalent amount in pTOKENS. Staking deposited assets via the pSTAKE platform wraps pTOKENS into stkTOKENS, which can then be used in DeFi. Meanwhile, staking rewards are distributed as pTOKENS. The protocol has a native ERC-20 token, which takes the ticker PSTAKE. It is used within protocol governance and to align participants' incentives.
The pSTAKE protocol works with established validators from various Layer-1 blockchains. They include Stake.fish, Chorus One and Everstake. To facilitate the service across multiple blockchains, the protocol also operates a crosschain bridge, which is managed by validators from the same safelist.