Supporting Persistence as a Validator

Why should we support Persistence?

DeFi has significantly expanded financial possibilities for people around the world, granting them access to enticing yield-generating options through blockchain technology.

Prior to the rise of DeFi, staking has been a popular yet conservative approach. Users leveraged their idle digital assets to earn appealing returns while also contributing to the security of the network.

The problem is that although staking drew a large number of participants aiming to earn rewards and enhance network security, a considerable amount of Total Value Locked (TVL) and activity remained isolated in the Proof-of-Stake (PoS) sector, separate from the vibrant DeFi landscape. Reversely, the emergenceof DeFi emphasized the limited utility of staked assets when compared to the versatility and financial opportunities available in the dynamic DeFi realm, thus diminishing the appeal of staking for network security.

Liquid Staking offers a solution to this dilemma. It allows users, along with their additional liquidity, to venture into DeFi while simultaneously staking PoS tokens. Liquid stakers receive tokens that represent their staked assets and can use them within DeFi ecosystems. This way, they earn rewards from their staked tokens while also supporting the underlying networks.

As Liquid Staking gains wider acceptance, users are searching for ways to put their Liquid Staked Assets to productive use and generate higher yields. Persistence is committed to streamlining this user journey by providing a diverse range of use cases within its ecosystem.

The primary objective of Persistence is to become a central hub for liquid staking, providing a user-friendly and efficient staking and DeFi platform for Proof-of-Stake (PoS) participants. This involves empowering developers to create innovative applications centered around staked assets.

The Persistence Core-1 chain plays a vital role in enabling the creation and utilization of liquid-staked assets (stkASSETs) through the pSTAKE mechanism. This allows users to not only earn staking rewards but also actively engage in DeFi activities like borrowing, lending, and providing liquidity on decentralized exchanges. Furthermore, the Core-1 chain supports the deployment of decentralized applications (DApps) through Smart Contracts, thanks to its integration of CosmWasm.

Persistence, a liquid staking Hub.

Press enter or click to view image in full size

Persistence Ecosystem Overview

The Persistence Ecosystem is expanding as it evolves into a central hub for Liquid Staking. Now, let’s dive into its individual components.

The Persistence Foundation
The Persistence Foundation is dedicated to enhancing the utility of XPRT, the fuel of the Persistence ecosystem. The foundation will actively collaborate with all stakeholders to ensure that incentives are aligned and to steer collective endeavors in the direction of the ecosystem’s vision.

The foundation’s primary objective is to promote the well-being of XPRT holders and Stakers by maximizing the utility of this asset.

Persistence Labs
Persistence Labs is dedicated to the development of products, applications, and various tools and services within the Persistence network, with the aim of furthering the growth of the Liquid Staking ecosystem. Additionally, Persistence Labs will provide support or incubation for external teams interested in building on the Persistence network, as long as their objectives align with the Persistence ecosystem’s vision.

pSTAKE Finance
A multi-chain Liquid Staking Provider, allowing users to unlock liquidity of staked assets. For Cosmos-based assets, pSTAKE has built a module on top of the Persistence chain. For other assets (ETH, BNB), the implementations are built within their respective ecosystems.

Other Projects
The following projects and teams are building on top of the Persistence chain, thereby becoming a part of the wider ecosystem. While they are able to get support via Persistence Labs, these projects are driven externally.

Provalidator will continue support on the Persistence blockchain, please stay tuned for more of our announcements. Thank you!

About Provalidator

Provalidator is a professional Proof-of-Stake blockchain validator and decentralized infrastructure provider. We offer enterprise-level validation services to more than 30+ blockchain networks, safeguarding over $250 million (as of December 2022) in digital assets through our robust infrastructure. Our team has been operating validator nodes since 2018 starting with the Cosmos Hub, and is currently one of the most prominent validators in the Cosmos ecosystem.

At the heart of our operations is validator service, which are specialized servers or nodes in a blockchain network tasked with proposing, authenticating transactions, and incorporating new blocks into the blockchain. Our dedicated team is on standby around the clock, ensuring swift responses to any validator node concerns. We’ve implemented multi-layered security and monitoring systems to safeguard our infrastructure and prioritize interests of our delegators.