Here's How Persistence One Revolutionizes Restaking

Persistence One is gaining traction within the Cosmos community for its promising capabilities. Let's explore their latest developments.

Author

M6 Labs
March 09, 2024

Restaking is gaining momentum as a transformative trend in the market, underscored by its potential to augment capital efficiency and fortify network security. This innovative approach evolves beyond conventional staking, enabling the strategic redeployment of assets to unlock further network advantages and rewards.

The leading restaking protocols, making significant impacts, include:

Notably, Persistence One is gaining traction within the Cosmos community for its promising capabilities. Let's explore their latest developments.

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.

#1 Persistence One and dYdX

Persistence One recently achieved a major breakthrough by launching DYDX liquid staking on Cosmos through sktDYDX, broadening the horizons of liquid staking solutions in the Cosmos ecosystem. This follows the successful integration of stkATOM and stkOSMO.

Issued by pSTAKE Finance on Persistence One, stkDYDX is a liquid staked token (LST) that represents DYDX, the native token of the dYdX Chain. This innovative tool allows holders to earn DYDX staking rewards, which originate from trading fees, among other sources, while engaging in DeFi activities without compromising liquidity.

Furthermore, stkDYDX empowers users to contribute to the Cosmos DeFi ecosystem by offering liquidity on Dexter and earning trading fees in return.

#2 STARS Liquid Staking

STARS stakers now benefit from auto-compounded yields, a decentralized network supported by approximately 65 validators, and immediate liquidity through stkSTARS on pSTAKE. Additionally, stkSTARS enables efficient trading and liquidity provision on its Metastable pool via Dexter, a leading DEX for Liquid Staked Tokens and key Cosmos assets on Persistence One.

Aiming to solidify stkSTARS' position in the Cosmos DeFi ecosystem, Persistence One ensures seamless integration of pSTAKE for STARS with Dexter from the start. This collaboration provides STARS with a novel platform for trading and liquidity provision, enhancing its connection within the Persistence One community.

#3 Persistence Road to Traction in 2024

Persistence has set ambitious goals for 2024, building on the current success of stkTokens, which boasts over $12M in liquidity and integration with more than 15 leading DeFi protocols. This aligns with the essence of liquid staking—simultaneously enabling staking and DeFi participation.

In 2024, the strategy for stkTokens will focus on:

  • Enhancing liquidity on DEXs through increased incentives

  • Broadening DeFi integration via strategic partnerships

  • Strengthening resilience through additional security audits

Cosmos is a vibrant and unique ecosystem, hosting innovative chains like Celestia and Dymension. The launch of new applications, such as dYdX, as independent chains present a significant opportunity for pSTAKE to capture a large portion of the liquid staking market.

With a combined market cap of approximately $90B for major Cosmos Ecosystem chains, including the BNB chain, which constitutes over 70% of the total Cosmos market capitalization, the growth potential seems boundless. As the Cosmos ecosystem—and, by extension, pSTAKE's liquid staking—continues to evolve, the outlook is incredibly promising.

Emerging blockchains like Initia, Berachain, Saga, Namada, and Babylon share a common foundation in Cosmos, positioning them for success within this ecosystem. Persistence One’s pSTAKE stands ready to provide secure, decentralized liquid staking solutions for these platforms, leveraging the potential for exponential growth.

Do you want to know more about Persistence One? Read this.

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