It’s during these bearish times when fortunes can be planned, set up and made. Proof of stake chains are a great way of gaining rewards over time, but with large dumps in the market most people stay clear of them. Nevertheless, proof of stake chains and their capital can’t be ignored. There are over $500B stakeable assets in the crypto space with over $100B staked across numerous chains and applications. Finally pulled the trigger and committed to
pStake Finance, a Persistence application that lets you stake while also having access to liquidity for full participation in the Defi space.
At the moment only about 7.8% of total Ethereum is staked and that number is expected to increase dramatically as it moves to its proof of stake model. Cosmos is currently giving a reward rate of just over 14% for staking your Cosmos tokens. And now with pStake I will be given their synthetic tokens and use on the Ethereum network for either Uni or Aave. Still debating on that. At the end of the staking period I’ll get my extra Cosmos, additional yield from the Ethereum network, protect my capital and secure gains.
