Tendermint to Delegate 595,000 ATOMs to Persistence’s AUDIT.one Validator to Strengthen the Cosmos Ecosystem

Persistence liquid staking

Earlier this year, Tendermint announced they would be re-evaluating their delegations of ~19,000,000 ATOMs which had previously been allocated to Cosmos validators in June 2019.

Essentially, Tendermint decided to re-delegate their ATOMs to the Cosmos validators which have been consistently adding value to the Cosmos network over time, in an effort to support the currently prominent network validators and thus push the Cosmos ecosystem forward.

This is a significant moment for the Cosmos community as Tendermint is a major stakeholder in the Cosmos ecosystem, having received 10% of the ATOMs launched at genesis in return for building the initial infrastructure of the Cosmos network and for delivering the feature set outlined in the Cosmos whitepaper.

Thus, this was not a decision to be taken lightly. After careful consideration by the Tendermint team, the results of their decision making have recently been revealed.

Persistence is excited to announce that Tendermint has decided to delegate 595,000 ATOMs to AUDIT.one, Persistence’s staking infrastructure arm!

This is the largest number of ATOMs being delegated by Tendermint to selected validators. Of the 70 validators which Tendermint has decided to delegate to, only 6 validators satisfied Tendermint’s requirements for receiving the maximum delegation amount. We’re thrilled to be one of them!

Tendermint proposed a set of criteria for determining which validators were eligible for certain numbers of ATOM. This took into consideration, among other factors, each team’s contributions to the Cosmos ecosystem and the calibre of each team/project in question.

‘The validators at the [highest] tier have really stood out as outstanding Cosmos contributors and have moved the dial for Cosmos user and developer adoption through the tools, integrations, meetups, UIs, and other awesome artifacts that they’ve created.’

It’s an honor to be identified by Tendermint as one of the premier contributors to the Cosmos network. Coming from Tendermint, this provides major validation (no pun intended) of our commitment to building a strong Cosmos ecosystem.

Persistence and Tendermint share the common goal of advancing to the Cosmos ecosystem by adding value in critical areas, such as the creation of developer tooling and global Cosmos dev community growth via hackathons, including the ongoing HackAtom India hackathon.

Tendermint’s re-delegation initiative is the start of many of the team’s ongoing initiatives that aim to support public goods development in the Cosmos network. We look forward to supporting Tendermint on these initiatives to the full extent of our capabilities.

Together, we will continue to help the Cosmos ecosystem to flourish and thrive quicker. Onward to a new era of interoperable blockchain!

About AUDIT.one

AUDIT.one is a subsidiary of Persistence, which provides top-tier validation services for leading PoS networks by utilizing highly secure enterprise-grade Tier 3 data centers across multiple geographical locations. Our decentralized infrastructure prioritizes both security and efficiency through sentry nodes distributed across various cloud providers.

In addition to Cosmos, AUDIT.one provides validation services for Terra, IRIS, Skale, Persistence and Matic Network. We’re also currently in the process of expanding our supported networks over the coming weeks.

About Persistence

Persistence is a Tendermint-based, specialised Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets.

Persistence facilitates the issuance and deployment of liquid-staked stkASSETs, 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.

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