ShadeSwap X pSTAKE Liquid Staking Partnership
Shade Protocol partners with pSTAKE on Persistence One, unlocking staked asset liquidity. Learn about our stkATOM integration, liquidity incentives, and the benefits of Liquid Staking Tokens.
May 22, 2023
Shade Protocol is excited to officially announce its strategic partnership with pSTAKE on Persistence One - a Tendermint based specialized Layer-1 powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets. Both of these ecosystems value decentralization and what DeFi can unlock - this alignment is an incredible opportunity for these two communities to link arms via product integrations using the power of IBC and liquidity incentives.
Persistence One will be bringing stkATOM to ShadeSwap. Leveraging the power of the ShadeSwap staking derivative curve this partnership will unlock an excellent trading experience for users looking to seamlessly enter in and out of staking derivatives.
Earn Liquidity Incentives
The following pairs will be supported with duel incentives on ShadeSwap:
stkATOM / ATOM
In addition to these supported pairs, users can now begin bridging in their liquidity onto the ShadeSwap platform. Liquidity providers will have the opportunity to earn SHD and pSTAKE - the governance token of the pSTAKE platform. Users can begin earning these rewards on the ShadeSwap pools page.
Why pSTAKE Liquid Staking Tokens?
Liquid Staking Tokens have the following advantages:
Earn staking yield while still simultaneously instead of being liquid
Distributed risk across a validator set / minimized slashing risks
In summary, liquid staking tokens maximizes return potential on staked assets while reducing some risk aspects of traditional staking.
Shade Protocol is an ambitious array of application-layer products focused on a simple end user experience that involves the incorporation of privacy by default. These interconnected privacy-preserving DeFi products built on Secret Network will change DeFi as we know it — empowering the next generation of value creation and exchange. Shade Protocol is launching Silk: a privacy-preserving over-collateralized stablecoin pegged to a basket of global currencies and commodities, built on Secret Network.
Without privacy, DeFi is incomplete. Traditional financial markets offer a degree of privacy for users, and as a result offer up greater protections in some capacity than existing DeFi markets. Shade Protocol will be the world’s first truly cohesive decentralized and privacy-preserving financial applications — ushering in a golden era for Web3. Shade Protocol will always push for privacy by default, privacy as an expectation, and privacy as the key to unlocking the full value of a decentralized future.