Proposal for a pSTAKE ($stkBNB / $pSTAKE) 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 PoS 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 4 chains - Cosmos, Ethereum, Persistence, 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. PancakeSwap).

The Syrup Pool:

Stake $CAKE tokens to earn $pSTAKE tokens!

• Total Tokens: 205,000 $pSTAKE
• Distribution duration: 60 days
• Start time: Approx. 0600 UTC on 3 Mar 2023
• Finish time: Approx. 0600 UTC on 2 May 2023
• Token rewards per block: 0.1186 $pSTAKE

Max Stake per Wallet:

100 $CAKE for the entire duration of the Syrup Pool.

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

The Farm:

In conjunction with the $pSTAKE Syrup Pool, we’ll be providing a $stkBNB-$BNB Farm.

The Farm will have 1.3x $CAKE rewards for the first 20 days, followed by 1.2x $CAKE rewards for the remaining 40 days. At the end of the 60-day period – approx. 0600 UTC on 2 May 2023 – the Farm will be re-adjusted to a 0x multiplier unless the following metrics are comparable with other farms of 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 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

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