jakiro
Author: haotian, independent researcher Source: X,@tmel0211
When the Ethereum Restaking track is in full swing, everyone will naturally think that there should be a broader market space based on the @PStakefinance, which is based on the cosmos POS application chain ecology?After all, the Staking solution of the entire POS application chain environment.That’s right, theoretically.
How to view PSTAKE’s strategic card position and potential market space?What is the business model of PSTAKE?Next, I will talk about my understanding in detail:
PSTAKE is aimed at the POS public chain, including Ethereum, BNBCHAIN, COSMOS, DYDX and other ecosystems.
Specifically: users can directly deposit each chain to the PSTAKE platform. The platform will pledge user assets to node operators Validators and then get the income. At the same timeAnd add additional income in some DEFI applications.
Because PSTAKE allows users to directly pledge native assets of each chain to the corresponding POS value, there is a need to do a corresponding adaptation work for different chains, such as:
1. COSMOS chain, users pledge their assets through pstake, and they can immediately obtain the STKATOM tokens, and the assets will be pledged on the COSMOS chain in a safe non -hosting. Because COSMOS pledge is redeemed for 21 days, PSTAKE can initiate a redemption every 4 days for redemption every 4 days.Request, the worst case of the user takes 25 days to complete the redemption;
2. BNB chain, user pledged BNB to PSTAKE, and will be sent to the StakePool contract first. 23:00 UTC per day will be superimposed to all pledge assets to entrust them to PSTAKE verification.God, of course, users can also choose to replace Stkbnb with BNB to avoid waiting.
1) As far as the business model is concerned, PSTAKE is positioned as a liquidity pledge management agreement. It needs to manage the pledge characteristics of each POS chain and participate in the corresponding native pledge and redemption process. In the entire process, the newly cast StkasSETS can be used forCirculation at any time.
Its business core is the liquidity management platform across multiple chains and multi -protocols. The liquidity of each POS chain is opened and converged into a unified management platform to manage and digest, while not sacrificing the original liquidity.
Popular understanding, PSTAKE is equivalent to building a liquidity sharing layer for the ecology of the COSMOS application chain. Users can share the liquidity of each chain through it and also obtain pledge income without having to be troubled by the lock -up.”: Pledged to PSTAKE, 1. Get the POS chain pledge income; 2. Do not sacrifice the periodic liquidity; 3. It has multi -chain flow value.
2) PSTAKE -based cross -chain interactive operation based on COSMOS IBC is built, and the circulation of assets in various heterogeneous chains through the PBRIDGE cross -chain bridge.
The IBC cross -chain communication protocol is a technical foundation for COSMOS to build a huge application chain ecosystem. It can transmit any type of data or assets, so that the heterogeneous chain can communicate with each other and realize the circulation of assets;
Pbridge is a key technology for PSTAKE to implement cross -chain communication, which is used to manage users’ asset status updates and maintain unified ledger security.
The point is that users have completed pledge on the original chain on the original chain on each POS chain, and the two -way pipeline intelligent contracts to manage and unlock assets.
3) PSTAKE’s strategic card position is to build a public liquidity layer between multiple POS public chains. As a liquidity management and supply platform, PSTAKE can directly choose high -quality Validators nodes to cooperate. Who is more powerful and security guaranteePick the liquidity to who.
As a unified accounting platform, PSTAKE needs to strictly screen the QUILIFIED node and be responsible for the flow of its assets, because once the assets of PSTAKE were put on the POS public chain node, the entire liquidity platform of the PSTAKE should be shared and loses.
Of course, this is actually a better choice for users. Choosing PSTAKE is equivalent to avoiding the possibility of losing assets by Slash.For users who are facing a complex multi -chain environment, they are equivalent to another layer of support.
4) In theory, PSTAKE can serve the broader POS application chain ecosystem including BNBCHAIN, DYDX, Ethereum, etc., and Dasan can be connected based on the COSMOS IBC accessible chain.Once integrated, users can convert their pledged assets on any chain to the corresponding Stktoken.
However, it will not deliberately bias to the application chain ecology. It will use the same set of standards to break the liquidity of its public layer by the same set of standards.Only in this way, assets from various multi -chain environments can enjoy the same asset liquidity improvement, and PSTAKE can become liquidity solutions across multiple chains.If the liquidity of individual chains is too large, some weak liquidity ecology will inevitably become weaknesses. Although the service can be widely served, a bowl of water is flat, otherwise a potential liquidity imbalance will occur.
This is why, it is clear that the wide POS chain ecology can be served. PStake tends to spread the market one by one between BNB and ETH chains. In fact, it must be done.
In general, the re -pledged track heat set off on Ethereum is the long -term gain buff effect for PSTAKE, which is managed by the POS public chain liquidity protocol, especially the liquidity of the Ethereum continuously penetrates outside the chain to penetrate outside the chainWhen the multi -chain environment becomes the center of gravity.
