Proposal for a pSTAKE ($PSTAKE and $stkBNB) Syrup Pool and Farm

PancakeSwap Welcomes pSTAKE ($PSTAKE) to Syrup Pool!

Dear CAKE holders, we’re proud to announce a new Syrup Pool with pSTAKE!

Developed by Persistence, pSTAKE is a multi-chain liquid staking protocol that unlocks the liquidity of proof-of-stake assets by issuing staked representative tokens (e.g. stkBNB) against users’ bonded assets, allowing them to earn DeFi yields on top of staking rewards. It is currently live on Cosmos, Ethereum, and BNB Chain.

BNB holders can liquid stake their tokens here to mint stkBNB and further use it in the BNB Chain DeFi ecosystem (eg. on PancakeSwap).

The Syrup Pool:

Stake CAKE tokens to earn PSTAKE tokens!

• Total Tokens: 950,000 PSTAKE
• Distribution duration: 60 days
• Start time: Approx. 1300 UTC on 25 Apr 2023
• Finish time: Approx. 1300 UTC on 24 Jun 2023
• Token rewards per block: 0.5497 PSTAKE

Max Stake per Wallet:

100 CAKE for the first 57,600 blocks (approx. 48 hours) after the Syrup Pool is launched, then unlimited CAKE staking after that.

The cap is to give everyone an equal opportunity to farm rewards at a high APY at the start of the farm.

The Farm:

In conjunction with the PSTAKE Syrup Pool, we’ll be providing a stkBNB-BNB (0.05% fee tier) and a PSTAKE-CAKE (0.25% fee tier) v3 farm on BNB Chain.

The stkBNB-BNB (0.05% fee tier) v3 farm will have 12x CAKE rewards, while the PSTAKE-CAKE (0.25% fee tier) v3 farm will have 4x CAKE rewards for the entire 60 days . At the end of the 60-day period – approx. 1300 UTC on 24 Jun 2023 – the farm will be re-adjusted to a lower or zero multiplier unless the following metrics are comparable with other farms of a similar multiplier: average daily volume, 14-day volume, unique token holders on BNB Chain, and there are no fundamental token issues or concerns related to users’ safety and security.

What is $PSTAKE?

PSTAKE is the governance token of pSTAKE Finance – PSTAKE holders can participate in the protocol’s governance and protocol improvement proposals to ensure long term security of the protocol. It is also used to align incentives of all the stakeholders within the pSTAKE ecosystem.

What is $stkBNB?

stkBNB is the staked representative of BNB issued by pSTAKE that allows for a more secure BNB Chain and higher BNB DeFi yields. Under the hood, the staked BNB is delegated to a robust set of 10 validators that optimizes for APR without compromising security. pSTAKE only charges 5% of fees for liquid staking your BNB. stkBNB has been audited by Peckshield, Halborn, & Certora. An on-chain monitoring system with Forta, bug-bounty on Immunefi, and stress tests by the BNB Chain team add to a secure liquid staking experience.

To learn more, visit the project’s official channels:

• Website: https://pstake.finance/bnb
• Twitter: https://twitter.com/pSTAKE_stkBNB
• App: https://bnb.pstake.finance/
• Telegram: https://t.me/pstakefinancechat
• Discord: https://discord.com/invite/2ek5rUyT8x
• Forum: https://forum.pstake.finance/
• Blog: https://blog.pstake.finance/category/stkBNB/
• Bridge: https://cbridge.celer.network/1/56/PSTAKE

How do you stake CAKE to earn $PSTAKE rewards?

Follow this guide to staking in Syrup Pools:

https://docs.pancakeswap.finance/products/syrup-pool

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️💀

The official PSTAKE token contract address on BNB Chain is: https://bscscan.com/token/0x4C882ec256823eE773B25b414d36F92ef58a7c0C

The official stkBNB token contract address on BNB Chain is: https://bscscan.com/token/0xc2e9d07f66a89c44062459a47a0d2dc038e4fb16

​Any other PSTAKE and stkBNB tokens will be a scam. Always verify the token address before buying tokens. If you receive a PSTAKE or stkBNB token airdrop from another address, it’s probably a scam, and we advise you to ignore it.