Note: Persistence has pivoted to liquid staking and building DeFi primitives to increase the utility for staked assets. This article is only for archive purposes.(Visit here to read our latest blogs)
The Persistence Core-1 Mainnet was recently launched with a limited set of carefully selected validators in order to ensure a smooth mainnet launch and the best possible staking experience. Read about our successful mainnet launch and our world-class genesis validators here: link
We are now inviting all interested parties to run a validator node for Persistence, ushering in further decentralization. We are committed to ensuring the utmost security and robustness of our network, and our validator ecosystem is playing a major role on this front.
All validators play an important role, however some go above and beyond to support the growth of the network via various activities and initiatives. These validators are key to the success of any PoS project. As validators ourselves, via AUDIT.one, we understand this better than most.
That’s why we’ve launched the Persistence Foundation Validator Delegations Program, designed to foster the growth of an active and committed validator ecosystem.
The Persistence Foundation will delegate a share of XPRT tokens (250,000–700,000 tokens per validator) to validators which demonstrate commitment to adding value to the Persistence ecosystem.
Contribute to our success on our journey to usher in a new financial paradigm and together we will thrive.
First Things First: Why Become a Persistence Validator?
Fees From Staking Rewards
In addition to being able to play a key role in helping to secure the network, validators will also earn a passive income via fees generated from providing staking services for the Persistence community.
XPRT token holders will delegate their tokens to the validators, who will charge a commission (rate set by the validators themselves with a maximum of 10%) to receive a percentage of their delegators’ staking rewards in return for their service.
With an XPRT staking rewards APR of 35%+ for the first year and also significant in the years proceeding, fee generation by validators can be very lucrative over both the short and long term.
Persistence Foundation Delegations
Furthermore, the Persistence Foundation will be providing support for selected validators in the form of Foundation delegations, which validators can now apply for and will be determined on a case-by-case basis.
Foundation delegations will range from 250,000–700,000 XPRT tokens per validator for selected validators. This will be significant, especially for smaller validators who require initial support, in bootstrapping delegations and financially supporting our validators through the fees collected on Foundation delegations.
Foundation delegations will not be provided arbitrarily, however; they are reserved for validators who show commitment to assisting the Persistence ecosystem to thrive.
Details of the formal Foundation delegation policy can be found below.
Foundation Delegation Program Eligibility Criteria
The Persistence Foundation Delegation Program has been designed primarily to support committed validators who have the expertise to spin up a node but require support, though all validators — regardless of their size — are welcome to apply. The Persistence Foundation will be delegating XPRT to validators which are committed to adding value to the Persistence ecosystem.
This includes, but is not limited to, the following areas of contribution:
- Technical contributions: Building tools, contributing to the Persistence SDK, etc.
- Integrations: Wallet support, block explorer support etc.
- Community contributions: Hosting events, running local communities, awareness campaigns (via articles, videos etc.)
- Synergistic alliances / strategic partnerships: Ecosystem partners of Persistence are welcome to apply for Foundation delegations
- Influencers: Influencers with large communities who can help expand Persistence’s reach to their audiences and can also attract delegations
- Any other areas of contribution you think will be beneficial: Feel free to reach out to the Persistence team on Discord to discuss any ideas you have
Note: To be eligible to receive Foundation delegations, validators must meet the following standards and criteria:
- Staking commission rate must not be more than 10%, but no less than 2%.
- Running physical infrastructure with redundancies.
- Use of HSMs (hardware security modules).
- Your validator node should already be set up on the Persistence Core-1 Mainnet before you submit your application. If you need any assistance, please reach out in the ‘Validators’ channel of our Discord server.
If you’re interested in applying for a Persistence Foundation delegation, please do so here: https://forms.gle/SoZfHjRqcQJYXQL97
Foundation Delegation Cycles Explained
The Foundation delegation cycles will initially span 3 months, meaning that validators will be reevaluated and delegations will be reconsidered every 3 months. The set of validators which receive Foundation delegations per cycle are referred to as Cohorts (i.e. Cohort 1 will be selected in cycle 1, Cohort 2 in cycle 2, and so on).
Cohort 1 Timeline:
- April 15th, 2021: Applications for Cohort 1 go live.
- April 30th, 2021: Applications close.
- The Foundation will then evaluate the applications and assign delegation amounts to applicable validators.
- May 5th-15th, 2021: Delegations will be made.
- The Foundation will be delegating anywhere between 250,000–700,000 XPRT to each eligible validator. This may be increased in certain cases.
Contributions from each recipient of a Foundation delegation will be evaluated at the end of the 3-month cycle and the Foundation may choose to redelegate/undelegate XPRT based on the contributions of a particular validator.
All delegations from the Persistence Foundation will be made public and will be shown on Mintscan: https://www.mintscan.io/persistence/validators
Interested in Becoming a Persistence Validator or Want to Learn More? Join us on Discord!
We invite you to join us and our world-class validators on a momentous journey to usher in a new financial paradigm. We have a long and exciting road ahead, and it would be a pleasure to have you to be a part. Together we will thrive.
We’ve established a validator-specific channel on Discord exclusively for those interested in becoming a Persistence validator or learning more about the process and delegations program.
Join us in the ‘Validators’ channel of our Discord server here:
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.
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