Curated News
By: NewsRamp Editorial Staff
September 05, 2024
pSTAKE Announces Bitcoin Liquid Staking for BNB Chain
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- pSTAKE Finance's expansion to BNB Chain provides unique opportunities for generating yields through Bitcoin Staking, giving a competitive advantage to users.
- pSTAKE Finance's Bitcoin liquid staking product allows BTC holders to stake native BTC and generate native staking yield through innovative protocols like Babylon.
- pSTAKE's expansion to BNB Chain brings further Bitcoin liquidity and propels its existing DeFi Ecosystem, offering additional yields and making tomorrow better than today.
- BTCB is a tokenized version of Bitcoin on the BNB Chain that allows BTC holders to access the BNB ecosystem, making it an interesting and educational asset for DeFi enthusiasts.
Impact - Why it Matters
This news matters as it expands the accessibility and yields for Binance users, one of the most active userbases in the crypto space. The integration with BTCB provides more value to BNB Chain users by allowing holders of BTCB to access Bitcoin Staking yields securely with a single click. By providing a yield-generating Bitcoin token like yBTC, it will significantly boost DeFi on BNB Chain.
Summary
pSTAKE Finance is expanding its Bitcoin Liquid Staking solution to BNB Chain users, bringing yBTC (pSTAKE-issued LST for Bitcoin) and accepting BTCB deposits on BNB Chain. This marks a significant milestone in providing BNB Chain users with unique opportunities to generate yields through Bitcoin Staking. The move will bring further Bitcoin liquidity to BNB Chain and propel its existing DeFi Ecosystem, allowing DeFi protocols to leverage yBTC as collateral asset and offer additional yields to users.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, pSTAKE Announces Bitcoin Liquid Staking for BNB Chain
