🚨 JUST IN: @CoinbaseWallet now supports $PSTAKE Staking on @base.
With 2M+ MAUs, Coinbase Wallet is the home to everything onchain.
Stacking sats has never been easier.
PSATKE stakers participate in protocol community activities and share $cbBTC rewards.
2/ New to $PSTAKE Staking? Get started now👇🏼
$PSTAKE Staking is launching on @base today!
Here’s everything you need to know about this HUGE change coming to BTCfi for the first time ever 👇🏼
1) What is $PSTAKE staking?
> A brand new way to lock the $PSTAKE token, participate in protocol and community activities, and earn $BTC.
2) What are some terms I should know before getting started?
> Season: 2-week period to lock $PSTAKE tokens.
> pSats: pSTAKE Points received upon staking $PSTAKE that can be converted into $BTC at the end of every Season.
> Staking Cap: Maximum amount of $PSTAKE tokens that can be staked in a particular Season.
3) Where can $PSTAKE be staked?
> All staking and unstaking actions happen on @base and can be executed anytime.
> Before staking, participants need to bridge $PSTAKE tokens to Base using @superbridgeapp 👉🏼
4) How are $BTC rewards distributed?
> Rewards start getting accrued as soon as $PSTAKE is staked.
> Rewards are distributed in tokens like $cbBTC or $YBTC every two weeks when a Season ends.
> Participants have to 'Claim' their rewards within 3 days after a Season ends.
5) What happens if I unstake $PSTAKE during a Season?
> Unstaking at any time during a season forfeits all accumulated rewards.
> Multiple Snapshots are taken randomly during a Season.
6) Do I need to stake every time a new Season starts?
> No. If you stake in Season 1, you will automatically remain staked for Season 2 when it starts.
7) How are pSats (rewards) distributed in a Season?
> 80% of pSats go to all users staking $PSTAKE tokens.
> 20% of pSats go to $PSTAKE Stakers that ALSO hold 0.05 $YBTC or more.
8) Are there any extra fees?
> There are no fees for staking $PSTAKE.
> Some network fees are incurred when claiming $cbBTC rewards on Base.
9) Where do Bitcoin Rewards come from?
> Initially, rewards will come from the protocol treasury to bootstrap the $PSTAKE staking use case.
> Over time, rewards will be subsidized by protocol revenue generated by Bitcoin Liquid Staking yields.
10) Wen launch?
> 28 November 2024
11) How to get started with $PSTAKE Staking?
> Bridge $PSTAKE to Base →
> Head to the pSTAKE app →
> Follow $PSTAKE Staking user guide →
3/ Simply head to , connect your @CoinbaseWallet, and stake your $PSTAKE to start earning $cbBTC.
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