Community Newsletter #1 — October 2020

Persistence liquid staking

For insights into our progress on our mission to bridge traditional finance and DeFi, we invite you to read our community newsletter covering all areas of our activities in October.

Backed by a strong network of early supporters after our successful raise of $3.7 million during our funding rounds, we are now pursuing our mission with full vigour.

We’ve launched StakeDrop, a major community initiative to provide the staking communities with access and exposure to our native XPRT token, we’re continuing to accelerate the interoperable blockchain movement in India and beyond, and we’re ramping up our community outreach efforts.

We’ve laid the technical groundwork for a new era of blockchain-powered real-world value creation and we have built a strong network of strategic partners. We’re now pushing ahead full-force on our mission to bring institutions and real-world assets to DeFi to help the industry to reach its full potential.
– Tushar Aggarwal, Co-founder & CEO — Persistence

Major Highlights

Persistence Raises $3.7M from Industry Heavyweights

Our mission to bridge traditional finance and DeFi has attracted the support of a plethora of industry VC heavyweights — including Arrington XRP CapitalLuneX Ventures (crypto arm of Golden Gate Ventures), IOSG Ventures, and many more — leading to a successful raise of $3.7 million USD.

“A core goal of Arrington XRP Capital is to assist blockchain innovators to create value in the real-world. The merging of blockchain and fintech is beginning to usher in a new era of open finance which is poised to transform global finance mechanisms. Persistence is shaping up to be a major building block in this financial revolution and we’re proud to be supporting their journey.”
– Michael Arrington — Founder of Arrington XRP Capital, TechCrunch and Crunchbase

🌐 Read more about our fundraising rounds and our mission here: link

Tendermint Delegates 595,000 ATOMs to Persistence’s AUDIT.one Validator

We were thrilled 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 tokens being delegated by Tendermint to their selected validators.

It’s an honor to be identified by Tendermint as one of the premier contributors to the Cosmos network!

Persistence and Tendermint share the common goal of advancing to the Cosmos ecosystem by adding value in critical areas. Together, we will continue to help the Cosmos ecosystem to flourish and thrive.

🌐 Read the full details here: https://buff.ly/3ixOFDL

StakeDrop Grand Unveiling

On October 7 we officially announced StakeDrop, a token distribution mechanism that allows token holders of prominent PoS networks to receive an allocation of XPRT tokens simply by staking on their favourite networks. Networks on which StakeDrop campaigns will occur include:

We will be allocating 1% of the total XPRT token supply (1,000,000 XPRT, valued at $250,000 based on the most recent valuation) to eligible StakeDrop participants.

🌐 Read the full details of StakeDrop here: link

HackAtom Hackathons

Cosmos Network, the Leading Interoperability Protocol, Partners with Persistence One to Launch HackAtom India

HackAtom is an annual flagship event in the Cosmos Ecosystem that encourages developers and builders of blockchain technology to innovate. For this year’s local edition, Cosmos has identified India as the most strategic region. Hackers collaborated whilst battling it out for $10,000 in prizes.

Persistence is a strong advocate of the Indian blockchain ecosystem and has been empowering entrepreneurs, developers and students throughout the country.

This collaboration is a step forward in Persistence One’s efforts to drive adoption of blockchain/crypto and grow the Cosmos ecosystem in India.

Accelerating the Global Interoperability Movement at HackAtom V

We’re not only committed to accelerating the interoperability movement in India, but globally also. As interoperable Tendermint-based blockchains, Persistence and Cosmos both understand the value of collaboration for fueling innovation.

It was therefore our pleasure to support the global HackAtom V hackathon! Hackers from around the world were invited to demonstrate their innovation and creativity by creating solutions to expand the Cosmos Universe, whilst competing for $50,000 in prizes.

Several Persistence team members (Abhitej SinghPuneet Mahajan, and Abhinav Kumar) joined other prominent Cosmos ecosystem personalities to offer guidance and assistance as mentors to the HackAtom V participants.

In addition, our CTO, Deepanshu Tripathi, hosted a workshop on the topic of ‘Building DeFi dapps using Cosmon and Persistence’. You can view the full workshop below:

Persistence also provided a key development module for NFT use-cases for HackAtom V hackers to utilize whilst building their innovative solutions.

We are proud to be a part of the Cosmos ecosystem and we will continue to work closely with Cosmos to accelerate the interoperability movement in India and beyond.

StakeDrop Updates

Cosmos StakeDrop Details Revealed: $50,000 Worth of XPRT is Being Allocated to ATOM Stakers!

Our StakeDrop campaign on Cosmos Network began on October 26th. A total of 200,000 of Persistence’s native XPRT tokens are being allocated to ATOM stakers during the campaign.

We are proud to be a part of the Cosmos ecosystem and we work closely together to accelerate the interoperability movement. StakeDrop provides a range of benefits for our partner networks and their communities. For us, Cosmos Network was thus the natural first choice of StakeDrop network partner.

You’re not too late to join the Cosmos StakeDrop! The campaign will be active until November 25th, 2020.

Read our full run-down of the Cosmos Network StakeDrop campaign here: link

Cosmos StakeDrop Tutorial

We published a tutorial explaining how to participate in the Cosmos Network StakeDrop. Becoming eligible to participate is a super simple two-step process.

Firstly, you need to be staking your ATOMs on-chain with any validator. Secondly, you need to send a ‘Magic Transaction’ to register your participation in StakeDrop. That’s it! We’ve released a step-by-step tutorial to make the process as seamless as possible.

Read the written tutorial here or view our video tutorial below:

Cosmostation Wallet Now Supports StakeDrop

Cosmostation, one of the most user-friendly Cosmos wallets, has launched support for our Cosmos Network StakeDrop Campaign.

All Cosmostation users can now send the Magic Transaction to begin receiving XPRT rewards as active participants of StakeDrop in under 20 seconds. It’s so easy that it makes the magic transaction more magical!

🌐 Read more: https://bit.ly/35CNkXy

Check out this video tutorial on how to participate in StakeDrop through Cosmostation:

Additional 20,000 $XPRT is Up for Grabs as Persistence Partners with the Staking Rewards Team!

1000 of our StakeDrop participants can get an additional 20 XPRT, and all you have to do is stake a minimum of just $200 USD in any of our StakeDrop campaigns (or a total of at least $200 USD across any combination of the campaigns)!

A bonus of 200 HEARTS (Staking Rewards loyalty points) is also up for grabs, courtesy of our wonderful partners at Staking Rewards, to eligible participants of the additional rewards campaign.

To enroll for the additional rewards, simply submit the same ERC-20 address you pasted into the MEMO section of the Magic Transaction on your Staking Rewards dashboard.

🌐 Learn more about how to participate here: https://buff.ly/2I3jvHU

Our Cosmos Network StakeDrop Got off to a Flying Start

In just 48 hours, over $145 million USD had already been staked for our Cosmos StakeDrop campaign!

Over 28 million ATOMs, which is 1 out of every 6 ATOMs staked, and equivalent to more than $145 million USD at the time of our announcement, had been staked in our Cosmos StakeDrop in the first 48 hours alone!

It was exciting to see that our Cosmos StakeDrop had gained so much traction in such little time!

Interoperability Ecosystem Initiatives

Cosmos India, a Persistence-Driven Community, is Playing a Major Role in Cosmos Gaining Traction in India

The Cosmos India community has grown from a handful people to more than 1,000 participants in less than nine months.

Persistence is a strong advocate of interoperability and the Indian blockchain ecosystem. We work closely with developer groups and institutions in India to drive mass adoption of blockchains, with a major focus on Cosmos. Efforts include hosting meetups, conducting education campaigns, and hackathons.

We’re thrilled to see our efforts having the desired effect! The interoperable blockchain movement in India is gaining momentum and platforms like Cosmos and Persistence are leading the way.

🌐 Read more about the emergence of the Indian Cosmos ecosystem on CoinDesk: https://buff.ly/34At1K1

Sharing Insights at the Polkadot India Launch Event

On October 22, our very own Strategy & Community Lead, Abhitej Singh, spoke at the online Polkadot India Launch Event alongside other interoperability thought leaders.

Both Polkadot and Persistence are working on interoperability and making waves with it. At the event, we discussed our partnership to grow India’s interoperable blockchain ecosystem together.

More Than 10 Projects have Joined Forces with Persistence to Build Inter-Chain NFT and Metadata Standards

The Persistence One team is working closely with the Interchain Foundation and Ixo to identify NFT and metadata use-cases to design Interchain Standards.

The team, led by Persistence CTO, Deepanshu Tripathi, is collaborating with multiple projects in the Cosmos ecosystem to discover their requirements around NFT and metadata use cases while deriving native definitions of NFT.

Over 10 teams have now joined us on our journey. It’s exciting to see the initiative attracting the attention of so many interoperability innovators!

🌐 Introductory article: https://bit.ly/2FWhNY4

Want to contribute and join us in enabling the digital economy?

Join the working group: https://discord.com/invite/4m5AfSZ

Fill the form: https://bit.ly/3ohzFhi

Media Coverage

CoinDesk Covered our Fundraising Round!

It was inspiring to see our mission to bridge traditional finance and DeFi resonate with so many VC heavyweights. Awareness of Persistence is now beginning to increase rapidly, and our journey is just beginning.

StakeDrop Coverage by CryptoDiffer

CryptoDiffer listed StakeDrop as one of the major upcoming events of October/November.

Persistence Listed as One of the Most Anticipated PoS Networks by ICO Analytics

10 most anticipated Proof of Stake networks based on the number of independent staking providers ready to support the launch. The data is from the publicly available lists on staking providers websites. 40 staking providers were analyzed. PoS networks with not listed coins were analyzed.

StakeDrop coverage by Top 7 ICO

StakeDrop has received a lot of attention from the wider crypto community! Top 7 ICO also listed the launch of our Cosmos StakeDrop campaign as one of their top-7 upcoming events of the week of October 26th — November 2nd.

Community Outreach

AMA With Satoshi Club

It was a pleasure to join Satoshi Club for a particularly eventful AMA. The community was able to submit their questions in advance, ask their questions to the team live, and take part in a Persistence-focused quiz!

There was a $500 prize pool on offer during the event for the most engaging questions and for those who answered the quiz questions correctly.

We Joined VIC Group for an AMA

We were thrilled to join VIC Group for a Telegram AMA session to discuss Persistence! Our CEO, Tushar Aggarwal, had a great time answering questions from the VIC Group community.

Our CEO & Co-founder, Tushar Aggarwal, and our Strategy and Communication Lead, Abhitej Singh, joined the Coinvision Telegram group to connect with the community and answer your questions!

We discussed Persistence, our mission, progress so far, StakeDrop, and much more.

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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