Proposal for a pSTAKE.finance ($PSTAKE) Syrup Pool and pSTAKE.finance’s BNB Liquid Staking ($stkBNB-BNB) Farm

PancakeSwap Welcomes pSTAKE.finance ($PSTAKE) to Syrup Pool!

Dear CAKE holders, we’re proud to announce a new Syrup Pool with pSTAKE.finance! PSTAKE is a liquid staking solution that unlocks the true potential of PoS tokens by unlocking liquidity of staked assets.

Stakers can stake BNB on https://app.pstake.finance/ after the mainnet is live on 08 Aug 2022 to receive pSTAKE’s Liquid Staking token for BNB, $stkBNB.

The Syrup Pool:

Stake CAKE tokens to earn PSTAKE tokens!

• Total Tokens: 2,000,000 PSTAKE
• Distribution duration: 60 days
• Start time: Approx. 1100 UTC on 09 Aug 2022
• Finish time: Approx. 1100 UTC on 08 Oct 2022
• Token rewards per block: 1.1574 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:

For the PSTAKE Syrup Pool, we’ll be providing two farms.

• stkBNB-BNB farm The farm will have 1x CAKE rewards for the first 48 hours, then 0.5x rewards after that. At the end of the 60-day period – approx. 1100 UTC on 08 Oct 2022 – the farm will be re-adjusted to a 0.1x multiplier unless the following metrics is comparable with other 0.5x multiplier farms: average daily volume, 14-day volume, unique token holders on BNB Chain, and there are no fundamental token issues etc.

• PSTAKE-BUSD farm The farm will have 0.5x CAKE rewards for the first 48 hours, then 0.1x rewards after that. At the end of the 60-day period – approx. 1100 UTC on 08 Oct 2022 – the farm will have rewards removed unless the following metrics is comparable with other 0.1x multiplier farms: average daily volume, 14-day volume, unique token holders on BNB Chain, and there are no fundamental token issues etc.

What is $PSTAKE?

From the team: “Developed by Persistence, pSTAKE is a multi-chain liquid staking protocol that unlocks the liquidity of PoS assets by issuing staked representative tokens against users’ bonded assets, allowing them to earn DeFi yields on top of staking rewards.

pSTAKE’s liquid staking solution is live on 4 chains, namely Cosmos, Ethereum, Persistence, and BNB Chain. Additionally, pSTAKE is in the process of developing liquid staking solutions for other leading assets in the industry.

$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. $PSTAKE is used to align incentives of all the stakeholders within the PSTAKE ecosystem.”

What is $stkBNB?

From the team: “$stkBNB is the liquid staked representative for BNB.

The stkBNB token supply will be driven by BNB staked with pSTAKE and the staking rewards earned. Users will be issued stkBNB based on an exchange rate model, inspired by the Compound’s cToken model. The value of stkBNB will keep increasing against BNB as it accrues staking rewards in the background, which will be reflected in the exchange rate (c-value). For more details, please read more here.

Users holding stkBNB can participate in DeFi protocols to generate additional yield on top of their staking rewards. pSTAKE will consistently keep adding more DeFi use-cases for stkBNB to expose stkBNB holders to multiple yield opportunities.”

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

• Website: https://pstake.finance/
• App: https://app.pstake.finance/
• Blog: https://blog.pstake.finance/
• Twitter: https://twitter.com/pStakeFinance
• Telegram: https://t.me/pstakefinancechat
• Discord: https://discord.com/invite/8DuNRExDj2
• Forum: https://forum.pstake.finance/
• Linktree: https://linktr.ee/pstake
• Bridge: https://cbridge.celer.network/56/1/WETH

How do you stake CAKE to earn $PSTAKE rewards?

Follow this guide to staking in Syrup Pools:

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

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️💀

• $PSTAKE

The official $PSTAKE token contract address on Binance Smart Chain is:

https://www.bscscan.com/token/0x4C882ec256823eE773B25b414d36F92ef58a7c0C

PSTAKE will only be tradeable when the Celer bridge for PSTAKE ETH<>BNB goes live on 08 Aug 2022.

• $stkBNB

The official $stkBNB token contract address on Binance Smart Chain will only be confirmed on 08 Aug 2022 when the pSTAKE mainnet goes live. Token contract address and other important details will be posted here.

​Any other $PSTAKE or $stkBNB token 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 them.