What is Persistence?
Persistence is a CometBFT-based, specialized Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets. The Persistence Ecosystem has grown and adapted to the multiple troughs and crests of the crypto industry. The roots of Persistence were born out of being early supporters of Proof of Stake (PoS) and firm believers in the app-chain thesis in 2019. What started as building for RWAs (real world assets) at a time that was too early for any significant PMF, led to a vision that was, again, ahead of its time, but something too exciting to ignore: Liquid Staking. Persistence facilitates the issuance and deployment of liquid-staked assets, allowing users to earn staking rewards while participating in DeFi primitives, such as lending/borrowing and liquidity provisioning on DEXs.
Persistence aims to offer a seamless staking and DeFi experience for PoS (Proof-of-Stake) users and enable developers to build innovative applications around stkASSETs.
Since 2019, Persistence has been relentlessly building for the Cosmos ecosystem, whether it is through participating in the launch of Cosmos Hub, hosting the first ever stakedrop campaign for the Cosmos ecosystem (which actually inspired the pivot to LSTs), being one of the first chains to enable IBC, or introducing the first liquid staking solution for ATOM.
Persistence Core chain has historically maintained a ~75%+ bonded ratio, one of the highest among all PoS chains in crypto. Persistence’s staking community strongly positions it to become the liquid staking hub for the PoS economy.
Decentralized LSTfi Governance
Persistence has adopted governance-driven application deployment on the Core chain and aims to have only high utility DeFi primitives, becoming a specialized layer-1 for liquid-staked assets. This will allow the chain to optimise for the maximum capital efficiency and resource allocation. XPRT stakers and validators have the final say on chain upgrades, ecosystem dApp improvements, network parameter changes such as minimum or maximum inflation, XPRT community pool spend, and more via on-chain voting. Key community-led initiatives like the launches of pSTAKE and Dexter, XPRT inflation reduction, Liquidity Bootsrapping Incentives, and Dexter’s decision to never launch its token to align with Persistence have showcased the strength of XPRT governance.
Persistence LSTfi User Experience
Imagine a world of secure PoS blockchains and flourishing DeFi. That world needs liquid staking. Liquid Staking solves the PoS dilemma: to stake tokens or to use them in DeFi. An LST (liquid staked token) is a liquid receipt of the underlying staked token that can be used in DeFi. We foresee a future where LSTs will become the predominant medium of exchange and utility in DeFi (over native tokens). That is the future Persistence is building towards. A future where LSTs of multiple leading PoS chains like Cosmos Hub, dYdX, Osmosis, and Celestia are not only issued on Persistence but have widespread adoption on DeFi applications like Decentralized Exchanges, Money Markets, Perpetuals, Options and more.
dApps like pSTAKE and Dexter are very different from each other in terms of their purpose, technical architecture, governance, etc. However, they have one thing in common, one uniting force. They are both #BuiltOnPersistence. What differentiates Persistence from its competitors is what it stands for–liquid staking AND more, LSTfi. Being built on the same underlying layer 1 chain optimized for liquid staking, pSTAKE and Dexter offer an LSTfi user experience like no other. For example, liquid staking ATOM on pSTAKE and providing stkATOM liquidity on Dexter requires jumping between the two front ends and no other complex IBC transactions and multiple steps.
In the future, LSTfi on Persistence may come under one roof with an LSTfi super app that provides access to all LSTfi primitives on Persistence (and possibly also outside Persistence within Cosmos through IBC) at the touch of a single click.
Persistence’s long-term belief in Cosmos and IBC, its app chain sovereignty, and its ability to build customized, niched liquid staking applications will bring its decentralized LSTfi economy vision to life.
Persistence aims to offer a one-stop shop for liquid staking for PoS (Proof-of-Stake) users and enable developers to build innovative applications around LSTs.
Become a Persister today!
