Everything You Need to Know about Persistence One

Furthermore, Persistence One is enhancing the Cosmos ecosystem by introducing restaking.

Author

Crypto Ramesses
February 17, 2024

Persistence One has emerged as a significant contributor within the Cosmos Network, introducing innovative solutions such as pSTAKE Finance for multi-chain liquid staking and Dexter, a decentralized exchange optimized for trading and liquidity. These offerings are central to encouraging the wider use of Liquid Staking Tokens (LSTs). Furthermore, Persistence One is enhancing the Cosmos ecosystem by introducing restaking.

Today, let’s dive into: 

  • Persistence One and its array of products. 

  • The new features they plan to introduce.

The Persistence One Ecosystem

Persistence One is a purpose-built Layer 1 on a mission to maximize liquid staking yield. It provides a secure and robust infrastructure for dApps to build an economy around LSTs. Here is an overview of the Persistence ecosystem:

  • pStake Finance

  • Dexter

  • XPRT

pSTAKE Finance

pSTAKE Finance is a multi-chain liquid staking provider. It operates on the Persistence chain for Cosmos-based assets and extends its services to other ecosystems like BNB. The core functionality of pSTAKE lies in enabling holders of proof of stake (PoS) tokens to stake their assets on its platform. Not only does the platform incur lesser fees than the competition, but pSTAKE's automated stake decentralization delegation model constantly optimizes for decentralization by using various parameters to suggest the final validator set and the amount of stake delegation to each validator in this set.

Dexter

Dexter is crucial in the Persistence ecosystem as the primary liquidity hub. It enhances the platform by providing liquidity for LSTs from pSTAKE and other valuable tokens, attracting users, and boosting on-chain activity. 

Dexter pools listed in descending order of APR.

XPRT Token

XPRT is the native token of the Persistence Core-1 blockchain. It is integral to both the operational and governance aspects of the Persistence ecosystem. Its primary utilities in the Persistence ecosystem include:

  • Chain security

  • Governance

  • Ecosystem traction

  • Transaction fees

BOOST YOUR YIELD WITH PERSISTENCE

If you read the Crypto Pragmatist - you're probably a fan of all things DeFi.

But unless you know what you're doing, keeping track of everything you need to do to boost your yield might be difficult.

Thanks to Persistence One, you now have a platform to help you multiply your yield on auto-pilot.

  • Restaking: Persistence is bringing restaking to Cosmos. Redeploy your liquidity and amplify rewards

  • Liquid staking solutions: Effortlessly stack yield and multiply your rewards through pSTAKE.

  • High APR pools: Dexter, Persistence's DEX, offers high APR pools and the most optimal trading routes/swap rates

Persistence One has partnered with us to offer all Crypto Pragmatist readers easy access to their offerings. 

Stay tuned and be the first to know about all the attractive yield-boosting offers.

Upcoming Features in Persistence One

Persistence One is introducing several new features and expansions to enhance its DeFi ecosystem:

Restaking

Allows users to redeploy liquidity through platforms like pSTAKE, Stride, Quicksilver, and Milkyway, creating Liquid Restaking Tokens (LRTs) and Liquid Restaking Finance (LRTfi) within Cosmos.

Security Enhancements

  • Looking closely at how Babylon is leveraging Bitcoin’s security as a timestamping server. 

  • Monitoring Cosmos' Interchain security models, including Mesh and Opt-in security.

  • New bug bounty programs on Hexens and existing ones on Immunefi.

  • Comprehensive security audits for new products and features.

pSTAKE's Evolution

  • Introduction of stkDYDX, featuring zero-fee incentives, auto-compounding, automated validator selection, Flash Unstake, and potential integration into DEXs and LSTfi protocols on Ethereum.

  • Launch of stkXPRT, enabling a one-click transition from natively staked XPRT to stkXPRT/XPRT LP positions, embodying the Superfluid LP concept.

  • Expansion of stkATOM across various platforms and integration into the Atom Economic Zone (AEZ), with a new validator stake delegation and rebalancing strategy.

Strategic Integrations and Product Expansions

  • Acquisition of ASTRO tokens and active participation in initiatives like ASTRO Wars.

  • Partnership with Shade Protocol to create a new XPRT <> SHD Pool of Liquidity on ShadeSwap.

  • Enhancements in passive trading and swap efficiency through collaborations with DEX aggregators.

The Super App 

Persistence One aims to merge liquid staking, trading, and liquidity provisioning into a single interface, with plans to integrate LST yields from various networks directly within the app.

Dexter Enhancements

Introducing new pools and features, such as Instant LP Unbonding with custom fee tiers, stkXPRT Superfluid LP, and an upcoming Analytics dashboard.

These updates signify Persistence One's commitment to innovation, security, and user experience in the DeFi space.

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