Last month will be remembered as a turning point in Persistence’s history. pSTAKE took the stage by force securing its spot as the most efficient liquid staking product in the market. XPRT continued to grow in dominance within Cosmos DeFi, and we continued to forge alliances with industry leaders.
Furthermore, our team hosted many rewarding community events which showcased our innovative multi-chain products. Many onlookers joined the community to build stronger DeFi & staking strategies for the future, realizing pSTAKE’s potential.
Additionally, Persistence leadership took time to hit key media outlets, letting the cryptosphere know we mean business. We are an all-or-nothing team, and we intend to continue bringing different asset classes into DeFi no matter the state of the market.
Get ready for hyperspace!
Major Highlights 🚀
- pSTAKE’s Liquid Staking Solution launched on Mainnet on July 12th with support for Cosmos, allowing $ATOM holders to interact with DeFi applications on Ethereum while staking their ATOM via pSTAKE.
- We concluded our Staking Gala which saw over 17,000 registrations, and over 33,000 stake sessions for a total prize pool of $20,000!
- Persistence’s network continues to strengthen with more highly esteemed validators including Chorus One, InfStones, Citadel.one, and more for a total of 83 validators.
- pSTAKE broke $250,000 in TVL (over 19,000 ATOM) [now over $1 million TVL / 65,000 ATOM] at the beginning of August, less than 3 weeks after initial launch!
- Osmosis XPRT pools blew past $13 million TVL [now over $20 million TVL] to kick off the month of August. Stake your XPRT on Osmosis on the XPRT/OSMO and ATOM/XPRT pools for juicy rewards!
Ecosystem Updates 🌐
- Tendermint, one of the core contributors to the Cosmos Network, becomes a strategic investor in Persistence.
- Persistence’s validator arm, AUDIT.one onboards as a validator for the Akash Network. Now that Persistence chain & Akash Network are connected via IBC, expect further collaboration opportunities in the future!
- IRISnet join forces with Persistence as a validator, with AUDIT.one running a validator on the IRISnet chain as well as collaboration in multiple other areas.
- Sifchain, an omni-chain DEX launches their liquidity mining rewards program which will support tokens on the Cosmos ecosystem including XPRT!
- AscendEX increased their XPRT staking rewards to 34.83% APY. We also partnered with AscendEX for 3 XPRT promo events with a total reward pool of 40,000 USDT.
Product & Community 🦾
- XPRT is fully integrated into Keplr’s interchain wallet.
- Persistence is listed as one of the initial supported chains for Emeris.
- Ledger Hardware wallets support Persistence assets! Learn how to store XPRT on your Ledger in the written tutorial here.
- XPRT trended top 10 projects on LunarCRUSH — the top social listening platform for crypto — with a Galaxy Score of 73.
- Persistence Twitter surpassed 25,000 followers.
- pSTAKE held multiple fun events around the mainnet launch including a $1000 tutorial competition and a meme contest.
- We held our pSTAKE Treasure Hunt which featured over $2000 worth in XPRT tokens as reward. Congratulations to all the winners!
Media Coverage & Features 📰
- Persistence was featured on Forbes alongside other platforms for demonstrating maturity and collaborating across chains to improve DeFi as a whole.
- In a video interview, CEO Tushar and YouTuber Cryptocito discuss the potential for growing the decentralized finance landscape, including the Cosmos network and bridging it with Ethereum’s vast DeFi ecosystem.
- Persistence CEO Tushar is featured on the BlockHash podcast.
- Everstake, a top-tier validator, introduces a comprehensive overview and guide for pSTAKE.
- CEO Tushar was featured on the IBS Intelligence podcast to discuss the latest innovations in DeFi.
- Persistence CEO was featured on a TechBullion interview to discuss how Persistence is building an ecosystem of next-gen financial products to serve both institutional investors and crypto-native users.
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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