Community Newsletter #17 — February 2022

Persistence liquid staking

February was a monumental month for the Persistence ecosystem. pSTAKE in particular made significant strides while Persistence and the broader ecosystem continued to advance.

$PSTAKE, pSTAKE’s governance and incentivisation token, launched on February 24th and is now listed on three industry-leading exchanges: HuobiKraken and OKX. Liquid staking via pSTAKE is now more accessible than ever thanks to a recent update eliminating ETH gas fees when staking, further driving pSTAKE’s growing traction.

On the Persistence core front, three key articles were released covering Persistence’s goals for 2022broader vision for Persistence and $XPRT value accrual, and the role of the symbiotic relationship of $XPRT and $PSTAKE on that journey. $XPRT continued to become more deeply integrated into the Cosmos ecosystem and the Persistence chain continued to strengthen.

With pSTAKE quickly gaining momentum and multiple major developments planned for the Persistence ecosystem in the coming weeks and months, we’re advancing swiftly on our mission to bring liquid staking and stkASSETs to the masses.

Check out the highlights below to catch up on anything you’ve missed.

Major Highlights 🚀

  • $PSTAKE, pSTAKE’s governance and incentivisation token, launched on February 24th and is now listed on industry-leading exchanges HuobiKraken and OKX, in addition to others.
  • pSTAKE’s liquid staking mechanism has been updated to eliminate ETH gas fees for stakers. The $PSTAKE airdrop is now much more accessible to eligible participants.
  • External incentives for the XPRT/UST pool on Osmosis are now live, following the recent community governance proposal. Rewards pool: 530,000 XPRT. With the recent launch of OSMO liquidity mining rewards in addition, LPs who bond for 14 days are currently receiving ~250% APR in total rewards.

Key Releases 📰

  • From the Founder’s Desk — Mission 2022: Tushar Aggarwal sheds light on the highlights of the past two years and shares our goals for 2022 as we advance towards our broader vision of Persistence becoming the liquid staking hub of the PoS space.
  • Vision for Persistence and $XPRT Value Accrual: Persistence is aiming to build an ecosystem of decentralized applications whose financial activities drive value accrual for $XPRT, which lies at the core of the Persistence ecosystem.
  • $XPRT and $PSTAKE Symbiosis: $XPRT and $PSTAKE will work in tandem to propel Persistence on its mission, with $PSTAKE focusing on growth at the pSTAKE protocol level and $XPRT driving the growth at the Persistence ecosystem level.

Persistence Monthly Stats 📊

Persistence Monthly Statistics - February 2022

$XPRT & Persistence Chain 🦾

  • Sommelier Finance airdropped 400,000 $SOMM tokens to XPRT/ATOM and XPRT/OSMO LPs on Osmosis DEX.
  • Persistence has been integrated into the Citadel.one staking & DeFi platform. $XPRT holders can now manage, send/receive and stake their assets via Citadel’s user-friendly interface.
  • Governance proposal #3 to upgrade the Persistence Core chain to v2 was announced (now successfully passed).

pSTAKE💧💰

  • CoinList Sale Distribution Update: $PSTAKE tokens have been disbursed to the non-custodial ERC-20 addresses submitted by participants.
  • Airdrop update: Beginning on or around March 8th, 30M $PSTAKE tokens will be airdropped to eligible participants over a 6-month period.
  • Retroactive rewards update: The retroactive rewards for eligible stkATOM and stkXPRT liquidity providers on SushiSwap will be distributed over 6 months, beginning on or around March 8th.
  • pSTAKE released a review of stkASSET pool activity on SushiSwap, showcasing the consistent growth of stkASSET issuance and liquidity pools.
  • Twitter thread exploring the exciting potential synergies between pSTAKE and Anchor Protocol was posted by pSTAKE.
  • The pSTAKE team connected with the community via a Twitter Spaces event to discuss the $PSTAKE token launch and airdrop.
  • Following the listing of $PSTAKE on Huobi, Huobi hosted an AMA with the pSTAKE team.
  • pSTAKE surpassed 20,000 followers on Twitter.

Broader Persistence Ecosystem 🌐

With the strong recent progress and significant developments upcoming, the Persistence ecosystem is primed to both drive, and derive value from, significant growth of the liquid staking industry in 2022 and beyond. We invite you to join us on that journey.

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.

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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