Key Takeaways
- Liquid Staking Hub: Persistence One focuses on liquid staking, unlocking staked assets for DeFi use while earning staking rewards.
- BTC Integration: Incorporating Bitcoin (wBTC) into the ecosystem for enhanced DeFi opportunities.
- pSTAKE Finance: A multichain liquid staking solution supporting Cosmos, BSC, and Bitcoin.
- Strategic Partnerships: Collaborates with projects like Babylon Chain, Axelar, and dYdX to expand its ecosystem.
- Future Vision: Aims to lead in the BTCfi space by enabling seamless cross-chain Bitcoin interactions.
Introduction
Persistence One is pioneering the future of blockchain, revolutionizing how digital assets are managed and utilized within the decentralized finance (DeFi) landscape. Its comprehensive suite of products and services is meticulously designed to empower users, unlock the full potential of staked assets, through the groundbreaking concept of liquid staking.
This mechanism liberates staked assets from their traditionally illiquid state, enabling them to actively participate in DeFi protocols and generate yield. By bridging the gap between staking and DeFi, this solution is unlocking new avenues for multichain financial growth and creating a more dynamic and inclusive ecosystem.
Whether you are an institutional investor seeking to optimize portfolio performance or a seasoned DeFi participant looking for new opportunities, this comprehensive overview will provide a deep understanding of the Persistence ecosystem.
For a deeper introduction into Persistence One check out: Persistence One: The Liquid Staking Hub Revolutionizing DeFi.
Hub for Liquid Staking
The Persistence One ecosystem is rapidly evolving into a central Hub for Liquid Staking, establishing itself as a driving force in the broader DeFi landscape. This transformation is fueled by a multifaceted approach that encompasses a robust infrastructure, innovative product offerings, and a collaborative community.
The Persistence Foundation serves as the central engine for the Ecosystem to grow and evolve. It is dedicated to enhancing the utility of XPRT, the ecosystem's native token, by engaging with stakeholders, fostering incentive alignment, and directing collective efforts toward a shared vision. The foundation's ultimate goal is to create a sustainable and thriving ecosystem that benefits XPRT holders and stakers alike.
Persistence Labs plays a pivotal role in building and expanding the Persistence ecosystem. It focuses on developing innovative products, applications, and tools on the Persistence network to facilitate the growth of the liquid staking ecosystem. The Labs also actively supports and incubates external teams that align with the ecosystem's vision, fostering a collaborative environment that encourages innovation and creativity.
pSTAKE Finance is a multichain liquid staking provider that empowers users to unlock the liquidity of their staked assets. By offering liquid staking solutions for a wide range of assets, including those based on Cosmos, Binance Smart Chain and Bitcoin (in the future), pSTAKE Finance expands the reach of liquid staking and makes it accessible to a broader audience.
The Persistence DEX, formerly known as Dexter, has undergone a remarkable evolution, solidifying its position as a premier decentralized exchange for yield-generating assets. Its recent rebranding to Persistence DEX signifies a strategic move that aligns the platform more closely with the overarching Persistence ecosystem, fostering a unified brand identity and streamlining operations.
In addition to the rebranding, Persistence has made a groundbreaking move by bringing Bitcoin into its ecosystem. The integration of wBTC, a widely used wrapped version of Bitcoin, has opened up a plethora of new possibilities.
The Persistence ecosystem is secured by a network of 100 validators, who play a critical role in maintaining the integrity and security of the network. These validators not only validate transactions and produce blocks but also contribute to governance, infrastructure development, and the creation of tools and analytics that benefit the entire ecosystem.
The Ecosystem Fund is dedicated to supporting the growth and development of the ecosystem by providing financial and advisory support to promising projects. It aims to attract well-established applications to build on the Persistence Core chain, nurture developers and builders through dedicated incubators, and drive research-driven investments in interchain and liquid staking technologies. By investing in the future of liquid staking, the Ecosystem Fund is contributing to the overall expansion and innovation of the Persistence ecosystem.
Persistence One is committed to fostering a decentralized and community-driven ecosystem. To this end, it is actively developing a Persistence DAO and a Community DAO, which will empower stakeholders to participate in decision-making processes and shape the future direction of the ecosystem. These DAOs will ensure that the ecosystem remains aligned with the needs and aspirations of its community, fostering a collaborative environment that drives sustainable growth.
Grants Program: Fostering Innovation and Growth
Persistence recognizes that cultivating a thriving blockchain ecosystem involves empowering a diverse community of developers and innovators. To achieve this goal, the Persistence Grants Program provides essential financial and strategic support to projects aligned with the mission of maximizing the utility of staked assets through liquid staking.
The program's flexible structure accommodates a wide spectrum of project types, from early-stage concepts to mature decentralized projects. Whether you are a seasoned developer or an aspiring entrepreneur with a disruptive idea, the Grants Program provides a platform to transform your vision into reality.
Micro-grants are available for smaller, short-term projects, while larger grants support the development of complex dApps on the Persistence platform. Additionally, an open grant category encourages innovative proposals that transcend Persistence's core focus areas, fostering a spirit of exploration and experimentation.
By aligning your project with Persistence's strategic objectives, you can access the resources and expertise necessary to build innovative solutions, expand your network, and contribute to the future of liquid staking and decentralized finance.
Strategic Collaborations Powering the Persistence Ecosystem
Persistence's success in the LSTFi space is not only due to its innovative technology, but also its commitment to strategic collaborations that expand its reach and capabilities.
Bolstering Security and Liquidity
- Babylon: Babylon Chain is a pioneering project focused on bringing Bitcoin's robust security model to PoS systems. By leveraging Bitcoin's proven security, Persistence ensures the safety of user assets and inspires greater confidence among investors, which is crucial in the rapidly evolving DeFi landscape.
- Elys Network: This partnership expanded the range of Liquid Staking Tokens (LSTs) available on the Elys Network, increasing liquidity and providing more staking options for users.
Expanding Interoperability and Accessibility
- Axelar: This collaboration enables cross-chain communication between Persistence and EVM-based chains, allowing for greater interoperability and expanding the range of DeFi use cases. It also facilitates bridging of stablecoins like USDC and DAI into the Persistence ecosystem, increasing their utility.
- Kava: Integration with Kava enables direct bridging of USDt from Kava EVM into Persistence, enhancing the accessibility and utility of this leading stablecoin within the Cosmos ecosystem.
- Skip API: The partnership with Skip API leverages their advanced cross-chain infrastructure to enable seamless asset swaps, transfers, and trading between Persistence and other chains, boosting liquidity and expanding the platform's reach.
Growing the Cosmos DeFi Ecosystem
- DYDX: Persistence empowers dYdX users to stake their DYDX tokens for network security while still maintaining liquidity and earning rewards. Through Persistence, staked DYDX is converted into stkDYDX, a liquid staking token that can be freely traded or utilized in various decentralized finance (DeFi) applications.
- Stargaze: Stargaze, known as "The Interchain" NFT marketplace, is the first interoperable layer-1 chain specifically designed for NFTs in the Cosmos. Launching stkSTARS on Persistence DEX exposes the STARS token to a wider audience across multiple ecosystems, driving demand and liquidity.
- Kujira: Integrating pSTAKE's LSTs, like stkATOM, into Kujira's DeFi ecosystem unlocks new use cases, such as using stkATOM as collateral for borrowing and minting stablecoins.
- Cosmos Hub: The integration of stkATOM as a cornerstone of the Persistence Ecosystem incentivizes ATOM liquid staking and contributes to the growth and security of the Cosmos Hub.
Building Community and Awareness
- The Rollup: Persistence collaborates with The Rollup, a leading DeFi community, to educate and onboard new users to the Cosmos ecosystem, ultimately fostering a thriving and informed community around Persistence.
- Staking Rewards: A trusted data provider offering comprehensive information on staking, lending, and other passive income opportunities across various cryptocurrencies, including XPRT.
These collaborations illustrate Persistence's dedication to building a robust and interconnected LSTFi ecosystem. By forging strategic partnerships and leveraging the capabilities of other projects, Persistence is positioning itself as a key player in the expanding world of liquid staking and decentralized finance.
Wallets Supporting Persistence One (XPRT)
Persistence One, with its native token XPRT, is a burgeoning ecosystem within the Cosmos network. Several wallets cater to XPRT holders, offering varying features and user experiences:
- pWallet: The official Persistence wallet that designed specifically for secure and efficient management of XPRT. It boasts a user-friendly interface for storing, sending, and receiving XPRT, along with integrated staking functionality for earning rewards.
- Keplr Wallet: Keplr is a popular non-custodial wallet for the Cosmos ecosystem, including Persistence One. It allows users to manage XPRT, stake tokens, participate in governance, and interact with dApps securely.
- Coin98: Coin98 offers a comprehensive crypto super app that includes a non-custodial multi-chain wallet compatible with XPRT. It also provides a built-in DEX, cross-chain bridge, and other DeFi features.
- Leap Wallet: Leap is another non-custodial wallet that supports multiple Cosmos chains, including Persistence One. It prioritizes user experience with features like portfolio tracking, NFT display, and easy staking.
- Cosmostation: Non-custodial multi-chain wallet that supports over 50 chains. It allows users to manage diverse assets with a single key, making it a versatile option for those invested in multiple ecosystems.
- Ledger: For users prioritizing maximum security, Ledger hardware wallets now support XPRT through Ledger Live. This integration allows users to manage their assets with the added security of offline storage.
Each wallet caters to different preferences and needs, offering a variety of features and security levels. Whether you prioritize user experience, a wide range of features, or maximum security, there's a wallet that suits your needs for managing your Persistence One (XPRT) holdings.
Detailed instructions for each supported wallet can be found on the documentation portal.
Future-Focused Vision for BTCfi
Persistence One is strategically positioning itself at the forefront of BTCfi landscape by developing a comprehensive interoperability solution. With the rapid emergence of Bitcoin Layer 2 solutions, the project team has identified a critical need for seamless asset movement across these chains. The platform's proposed solution will address this challenge head-on by enabling fast, zero-slippage atomic swaps for BTC assets, unlocking liquidity and expanding the possibilities for Bitcoin-based financial applications.
Unlike traditional decentralized exchanges (DEXs) that rely on automated market makers (AMMs), Persistence One will utilize a cross-chain order book methodology. This approach will optimize trading of closely related assets, such as wrapped Bitcoin on different chains, ensuring efficient and reliable trading for BTCfi users and fostering a more liquid and accessible market for Bitcoin-based financial products.
Additionally, the Persistence Core-1 blockchain, the heart of the ecosystem, will soon be backed by Bitcoin's security through a partnership with Babylon. This move brings the proven security of Bitcoin to the Persistence platform, building trust and making it an even better choice for users to manage and trade their investments.
Ultimately, the main vision of the team is to act as a catalyst for the growth of BTCfi. By providing the necessary infrastructure and tools for seamless cross-chain interactions, Persistence One envisions a future where Bitcoin transcends its role as a store of value and becomes a dynamic financial instrument. This ambitious endeavor has the potential to unlock a new era of Bitcoin-powered financial innovation, contributing to the maturation and widespread adoption of decentralized finance.
Conclusion
In conclusion, Persistence One has solidified its position as a vanguard in the rapidly evolving DeFi landscape, particularly within the burgeoning realms of LSTFi and BTCfi. Its strategic emphasis on LSTFi, coupled with an unwavering commitment to fostering a robust ecosystem within the Cosmos Network and pioneering secure Bitcoin interoperability, distinguishes it as an innovator in both spaces.
Furthermore, strategic alliances with key industry players, underscore a commitment to collaboration and interoperability, essential components of a thriving blockchain ecosystem. The integration of Bitcoin's robust security model into the Persistence platform further enhances its appeal as a trusted and secure venue for LSTFi operations.
The information provided by DAIC, including but not limited to research, analysis, data, or other content, is offered solely for informational purposes and does not constitute investment advice, financial advice, trading advice, or any other type of advice. DAIC does not recommend the purchase, sale, or holding of any cryptocurrency or other investment.
