The time has finally arrived! We’re excited to announce the details of our public sale, which will be taking place on leading global cryptocurrency exchange AscendEX (formerly BitMax) on March 31st!
During our fundraising rounds, we built a strong network of early supporters to contribute to the long-term success of Persistence. Our mission to usher in a new era of next-gen financial products has attracted the support of a plethora of industry heavyweights.
Now, with our upcoming public sale, we’re giving the wider community the opportunity to secure XPRT tokens and join our journey!
Token Sale Details
The XPRT token sale will take place on AscendEX (formerly BitMax) on March 31st. The sale will take place in auction format, with 1,000,000 XPRT tokens (1% of the total supply) available in total.
AscendEX will conduct two separate auctions on March 31 from 1:00 PM UTC to 2:00 PM UTC. A total of 1,000,000 XPRT tokens will be sold during the auctions, with 1000 participants.
The 1,000,000 XPRT will be auctioned between a “Standard” auction with 750,000 XPRT (750 participants) and an “Uncapped” auction with 250,000 XPRT (250 participants).
Read the full details of the token sale, including an explanation of the auction model and eligibility criteria, in AscendEX’s article here: https://bitmaxhelp.zendesk.com/hc/en-us/articles/1500004962562
XPRT will then be listed on AscendEX via a XPRT/USDT trading pair following the below schedule:
- Deposit: March 31, 2:00 p.m. UTC
- Trading: April 1, 1:00 p.m. UTC
- Withdrawal: April 1, 1:00 p.m. UTC
What is XPRT?
XPRT is the native token of the Persistence ecosystem which carries a variety of use cases including governance of the Persistence main-chain, participating in staking to contribute to network security, and its role as a work token.
XPRT holders will be able to take part in protocol governance by issuing proposals and voting on various factors which will impact the broader Persistence ecosystem.
As the Persistence chain runs on delegated Proof-of-Stake based Tendermint PBFT consensus engine, staking is integral to ensuring a secure and robust network.
Persistence has onboarded some of the world’s top validators, distributed globally. XPRT token holders will be able to delegate their tokens to our network validators for staking. Stakers will receive rewards in the form of XPRT in return for contributing to the security of the network.
XPRT staking will be launched directly after TGE, alongside our mainnet. The initial staking APR will be 35% — among the highest in the industry.
XPRT is the token around which the entire ecosystem is built, thus staking XPRT to secure the chain will result in a great deal of exposure to multiple dApps in the ecosystem for stakers.
More details regarding staking and the benefits for stakers will be shared in an upcoming article.
As a ‘work’ token, XPRT will also accrue value in direct correlation to increased financial activity within Persistence’s ecosystem dApps. Essentially, dApps on Persistence conduct business and fees trickle down to the mainchain, bringing additional value for XPRT token holders — in direct correlation to the value being processed and exchanged.
The XPRT token distribution model and release schedule have been carefully ideated to facilitate the long-term growth of a strong, engaged and vibrant participant ecosystem.
100 million XPRT will be minted at genesis and will be gradually released over the course of 42 months.
You can read more about the utility of XPRT token and the full details of our tokenomics in the article here: link
Join us on our Journey to a New Financial Paradigm
The token sale on AscendEX is the next significant milestone in the journey of Persistence. However, this is only the beginning. With the launch of XPRT staking and our mainnet directly after launch (more details to be shared shortly), and the development of our ecosystem of next-gen financial products going strong, 2021 is going to be a monumental year for Persistence and our community.
“At Persistence we’ve always been guided by our forward-thinking vision, as illustrated by our focus on real-world assets, NFTs, and interoperability. Our progress in 2020 has laid the groundwork for us to create a complete ecosystem of financial products catering to both institutional and crypto-native users. We’re now pushing ahead to bring this to fruition and we invite you to join us.”
– Tushar Aggarwal, Co-founder and CEO of Persistence
We invite you to take part in our public sale and join us on our journey to usher in a new financial paradigm. If you aren’t able to acquire XPRT during the sale on AscendEX, don’t fret. You will be able to acquire XPRT tokens upon listing directly afterwards.
However, the public sale is the first opportunity for the community to acquire XPRT tokens. Don’t miss your chance to become a part of the DeFi revolution.
Persistence is a Tendermint-based, specialised Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets.
The Persistence chain 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.
Join Our Movement
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