pSTAKE is discontinuing liquid staking in Cosmos and securely deprecating its LSTs. Here's everything you need to know 👇 As the pioneer of Cosmos Liquid Staking in 2020, pSTAKE has always been at the forefront of Proof-of-Stake. In early 2024, pSTAKE shifted focus to the Bitcoin Ecosystem. Cosmos Liquid Staking was deprioritized with active efforts being spent only on debugging user issues and maintaining the product suite. To streamline operations and fully commit to the protocol's Bitcoin strategy, a proposal to deprecate all stkTokens (except stkXPRT) is now live on the pSTAKE Snapshot. A new feature will allow users to 1-click claim their underlying assets securely without adding any risk to the protocol. Some FAQs👇 1) How will the deprecation work? > (Pending governance approval) A new feature in the pSTAKE on Cosmos codebase will unstake all assets in the protocol on behalf of users. > Users will be able to claim their respective underlying assets in return for their stkTokens. 2) What are the steps involved in the entire deprecation process? > There are multiple steps involved to provide a simple and secure experience for users: a) $PSTAKE Governance proposal b) Persistence One (Home of pSTAKE codebase on Cosmos) Governance proposal c) Persistence One chain upgrade to add Claim Functionality for users d) Unstaking of all funds on behalf of users e) Wait for unstaking period f) Claim Functionality goes live for all users 3) What do I need to do? > Go to the pSTAKE app. Claim your tokens in exchange for your stkToken. 4) When will the Claim Functionality go live? > Mid-Feb 2025. 5) What happens to the stkTokens when I claim my funds back? > Once claimed, stkTokens will be burnt from the supply to maintain protocol accounting. 6) What if my stkToken is in a DeFi protocol? > You can remove/close your DeFi position and then claim your funds back on pSTAKE. 7) What will be the deadline for me to claim my funds back? > While there is no hard deadline set as of now, it is recommended to claim your funds back at the earliest. > Once assets are unstaked, stkTokens will no longer continue to accrue staking rewards. 8) Which stkTokens will be discontinued? > stkATOM (@cosmoshub), stkOSMO (@osmosiszone), stkDYDX (@dYdX), stkHUAHUA (@ChihuahuaChain), and stkSTARS (@StargazeZone). 9) Will stkXPRT also be discontinued? > All stkXPRT (@PersistenceOne) functionalities will continue to work normally for now. 10) Where can I contact for support? > The pSTAKE Telegram community is the best place to clear any doubts/queries and ask questions - Cosmos has always been at the forefront of major innovations in crypto. It was the birthplace of pSTAKE and holds a special place in our liquid staking journey. While it's a bittersweet moment, this strategic move will best serve the long-term growth and success of pSTAKE with Bitcoin Staking.