Persistence One

What is Persistence?

Persistence is an application suite designed for Liquid Staking, driving a thriving DeFi application ecosystem. Its primary objective is to unleash the liquidity of staked assets through its on-chain decentralized applications (dApps). This ecosystem includes pSTAKE, a versatile multi-chain liquid staking protocol, and Dexter, an Interchain Decentralized Exchange (DEX) tailored for assets that generate yield. Within Persistence, individuals can engage in various ways, such as crafting inventive use cases, participating in network governance, and assuming roles as validators. The company's primary focus revolves around fostering an economy centered on proof-of-stake assets.

Recent Video Interview

Main points of the interview:

• Launched Pake as the first application on Persistence chain, issuing liquid stake tokens (LSTs).
• Received funding from investors like Three Arrows Capital, Galaxy Digital, and Binance Labs.
• Discusses the evolution of the Persistence ecosystem
• Plans to integrate BTC staking for wider adoption and utility.

The $XPRT Token

$XPRT, the native staking token of the Persistence Core-1 chain, made its debut in April 2021 with a vision to power an innovative DeFi ecosystem that goes beyond the conventional DeFi features commonly found in most ecosystems today.

The primary role of $XPRT is twofold. Firstly, it serves as a catalyst for ecosystem applications, driving the adoption of the network. Secondly, it plays a pivotal role in safeguarding the core infrastructure through staking. $XPRT stakers also have the opportunity to engage in governance, enabling them to guide the network's direction and contribute to the long-term prosperity of the ecosystem.

The utility of $XPRT extends across the broader Persistence ecosystem. Modular applications (such as pSTAKE) and decentralized applications (dApps) constructed using smart contracts (e.g., DEXter) will harness the underlying infrastructure of the Core-1 chain, and consequently, rely on $XPRT to develop practical applications for staked assets.

As diverse applications within the ecosystem draw staked assets from various other ecosystems into the Persistence Chain, the Core-1 chain will function as the Inter-Blockchain Communication (IBC) hub for the entire Persistence Ecosystem.

Persistence Team Background

Tushar Aggarwal, the CEO of Founder's Journey, laid the foundation for Persistence in the second quarter of 2019, and the project was officially unveiled on January 3, 2020. However, the roots of Persistence had been growing for several years, as Aggarwal embarked on his cryptocurrency journey back in 2017. During his time in Singapore, he initially launched the Decrypt Asia podcast. Subsequently, he became the first associate at the crypto-focused fund, Lunex, under Golden Gate Ventures. Over the course of the next year and a half, Aggarwal found himself immersed in the burgeoning world of entrepreneurs and cryptocurrency startups in Asia, with a particular emphasis on his home country of India. Many of these entrepreneurs eventually joined forces with him to contribute to the development of Persistence.

Persistence Project Development

The most recent updates to Persistence include:

• The dedicated developers of Core-1 have put in relentless effort to introduce significant additions to the chain. These include the Liquid Staking Module, developed in collaboration with Iqlusion & Zaki Manian, Cosmos SDK v47, and the Packet Forwarding Module, a contribution from Strangelove Labs. The Core-1 team has also initiated discussions with Skip Protocol to explore the integration of in-protocol MEV. All these exciting features are slated to go live with the v8 chain upgrade, scheduled for August 2023.
• Thanks to the remarkable Ecosystem dApps, namely pSTAKE and Dexter, the Total Value Locked (TVL) on-chain has achieved an unprecedented milestone, surpassing $7.5 million in June 2023.
• In the pursuit of enhancing security measures, the Core-1 chain has been diligent in its approach. To this end, the team conducted internal research and due diligence on Replicated Security and Mesh Security. Additionally, discussions have commenced with Informal Systems, the key project behind Replicated Security, to explore the feasibility of Core-1 becoming a consumer chain of the Cosmos Hub. Furthermore, Babylon's Bitcoin Security has been successfully launched on the Persistence Testnet.
• A comprehensive XPRT Incentives Log has been published, providing transparency for everyone to track all $XPRT incentives stemming from governance. This log includes timelines, outcomes, insights, and more.
• In a noteworthy development, XPRT liquidity has been initiated on the chain through the establishment of an ATOM/XPRT pool on Dexter. Proposal 25 has incentivized this pool with 333,333 XPRT tokens for a duration of 90 days, extending until August 29, 2023. Recently, the liquidity in this pool has surged, exceeding $650,000.

Persistence One Price Analysis

As of November 25 2024 Persistence One has a marketcap of $40M. This is {{percentagefromath}} from its all time high of $16.59. In terms of its tokenomics, there's a total supply of 218M with 99% currently outstanding. Keep in mind Persistence One has a fully diluted value of $40M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.

Summarized in part by ChatGPT 4 and Claude