<aside> ❓ stkATOM is an ATOM liquid staked token (LST) issued by pSTAKE on the Persistence Core-1 chain

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⏮️ Background

pSTAKE was early to liquid staking in Cosmos, with stkATOM(ERC-20) being the first implementation of a liquid-staked representative of ATOM. Back in 2021, pSTAKE decided to issue these tokens on the Ethereum chain due to:

1. The absence of IBC
2. No DEXs like Osmosis or Dexter to bootstrap liquidity for staked ATOM
3. The lack of overall DeFi in the Cosmos Ecosystem

<aside> 📌 stkATOM(ERC-20) achieved $39M+ in TVU (Total Value Unlocked) with 6,406 ATOM stakers & $33M liquidity on the SushiSwap pool

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⚛️ Entering the Cosmos

<aside> 🚀 stkATOM launched on 12 January 2023 as an IBC native token on the Persistence Core-1 chain with a mission to unlock liquidity & empower DeFi for staked $ATOM in the Interchain

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🌐 stkATOM Stats (as of 13 March 2024)

stkATOM growth

• Current ****TVL - 631,013.37 ATOM
• Market Share - stkATOM is ~12.28% of all liquid staked ATOM in Cosmos
• Unique users - 2500+
• DeFi integrations - 11 and counting

pSTAKE LSM support

• 75,000+ natively staked ATOM ($1M+) has been liquid staked into stkATOM
• 1000+ LSM liquid staking txns by ~540 unique users

Instant Redemption

• pSTAKE is the only liquid staking protocol that allows Flash Unstake natively on the dApp by matching ATOM deposits with withdrawal requests.
• Cumulative Instant Redemptions - 76,706 stkATOM (~$813k+)
• Instant redemption feature usage - 2,277 wallets

stkATOM in Cosmos DeFi

~$5M+ cumulative volume | - Metastable pool

• Tradooor Rebate Program that gives back 0.3% trading fee and a 0.05% bonus on stkATOM trades | ~44.3% | https://app.dexter.zone/pools | | Astroport (Neutron) | DEX | ~$4.84M | - LP incentives coming soon

• Participation by Persistence One in ASTRO Wars | ~0.1% | https://app.astroport.fi/pools | | Mars Protocol (Neutron) | Borrowing Lending | ~2.3% vault usage | Launched in last week of January | Cheapest ATOM borrow APR at 4.32% | https://neutron.marsprotocol.io/redbank | | Osmosis | DEX | ~$70k liquidity

~$4M+ cumulative volume | - Stableswap pool | ~13.8% | https://app.osmosis.zone/pool/886 | | Shade Protocol (Secret Network) | DEX | ~$60k liquidity | - Asymmetric Concentrated Liquidity Pool | ~128.9% | https://app.shadeprotocol.io/swap/pools | | Umee | Borrowing Lending | ~$258k total collateral | - 11/40 Market Rank on Umee | Depends on usage | https://app.ux.xyz/#/markets | | Nolus | Borrowing Lending | - | | Depends on usage | https://app.nolus.io/lease | | SILK by Shade | Decentralized Stablecoin | ~4.4% vault utilization | | Depends on usage | https://app.shadeprotocol.io/borrow | | GHOST (Kujira) | Borrowing Lending | - | - Borrow USK or KUJI with stkATOM collateral | Depends on usage | https://ghost.kujira.network/borrow?deposit=ibc%2F086C1B2E9E611F23D3C9159C858D3F4C6A911D348DFB916A11AE306A865A77A8 | | USK (Kujira) | Decentralized Stablecoin | coming soon | | | | | IST (Agoric) | Decentralized Stablecoin | coming soon | | | |

ℹ️ About $stkATOM

🫂 Built by Cosmonauts, for Cosmonauts

Innovating UX for the Interchain

• A stkATOM DeFi section is built right into the pSTAKE dApp. stkATOM holders will be able to navigate to all DeFi integrations right from one place

In the future, we will explore how we can further improve UX for this. Imagine adding liquidity to the stkATOM/ATOM pool on Dexter right from the pSTAKE app

• When you unstake stkATOM, the underlying ATOM (after unbonding) is sent directly to your Cosmos address instead of your Persistence one. This reduces the number of transactions our users have to perform.
• Flash Unstake is a feature unique to stkATOM. Given sufficient protocol liquidity, users can skip the 21-25 day unbonding period. Instead, they can instantly redeem ATOM on the pSTAKE UI. In the future, pSTAKE will explore how to integrate this feature with a DEX like Dexter that has deep liquidity.
• stkATOM can be used across Cosmos DeFi protocols: Dexter, Umee, Shade Protocol, Crescent, Osmosis, Nolus, and more in the future.

Dive deeper

• ATOM Liquid Staking UX

  

• stkATOM Unstaking UX

  

• stkATOM DeFi Section

  

🛠️ Interchain Liquid Staking for ATOM