pSTAKE Launches Ethereum-Based Liquid Staking Token 'YBTC'

Bloomingbit Newsroom

Summary

pSTAKE Finance announced the launch of the Ethereum-based liquid staking token 'YBTC'.
YBTC provides rewards to holders through a self-custody method, ensuring trust and stability.
The project is supported by renowned investors and has enhanced its security.

pSTAKE Finance, a Bitcoin (BTC) liquid staking protocol, announced on the 17th that it has launched the Bitcoin liquid staking token YBTC, which operates on the Ethereum (ETH) network.

YBTC provides rewards to holders while securing trust and stability based on self-custody. This creates a more stable investment environment for institutional investors than before. The self-custody technology is designed to allow control of assets without relying on third parties like pSTAKE.

Additionally, YBTC features △ERC-20 based network token △interoperability with BNB Chain, Corn, Bitlayer through LayerZero △yield-generating structure △1:1 collateral system with BTC through pSTAKE.

YBTC holders can generate income through staking protocol Babylon's proof-of-stake rewards, YBTC yield farming within DeFi (protocol incentives, Layer 1 chain rewards), and more.

pSTAKE has enhanced security through collaboration with leading blockchain security firms such as Halborn, Hexens, Oak Security, Immunefi, and Forta, and is supported by renowned investors like Binance Labs, DeFinance Capital, Spartan Group, Coinbase Ventures, and Kraken Ventures.

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