Community Newsletter #18 — March 2022

Persistence Monthly Newsletter - March 2022

The Persistence ecosystem continued to grow and blossom throughout March, as we stayed true to our commitment and innovation by continuing to build upon the underlying infrastructure, bringing us one step closer to ultimately realizing the full potential of our liquid staking economy.

Over the course of the last few weeks, pSTAKE has picked up significant traction and garnered attention due to major news and updates, most notably a proposal for the integration of bATOM on Anchor Protocol and the launch of $PSTAKE into the Cosmos ecosystem.

To provide more insights into the Persistence protocol and the landscape from a broader perspective, we published two articles highlighting Persistence’s long-term vision and the liquid staking landscape within the Cosmos ecosystem. In these pieces, we touch more on the future of our platform and other liquid staking protocols that coexist within Cosmos.

To learn more, below you can find a high-level recap of the key highlights and milestones we achieved last month.

Major Highlights 🚀

  • A proposal was submitted to enable bATOM as collateral on Anchor Protocol. bATOM is pSTAKE’s stkATOM on the Terra blockchain. Whitelist voting is now live — if passed, Anchor Protocol would become the first DeFi lending option for ATOM stakers, allowing them to borrow against their collateralized assets for the first time as a direct effect of liquid staking.
  • The Persistence Bridge for $PSTAKE went live, initiating the $PSTAKE token’s launch within the Cosmos ecosystem. The ERC-20 version of $PSTAKE can be transferred from Ethereum to the Persistence Core-1 chain, allowing token holders to provide liquidity on the Osmosis DEX and the token to interconnect with other chains via IBC.
  • pSTAKE community governance: $PSTAKE token holders can now initiate proposals and vote to implement changes to the pSTAKE protocol on Snapshot, allowing decentralized governance to take place for the first time.

Key Releases 📢

Media Coverage 📰

Persistence Monthly Stats 📊

Persistence Monthly Stats - March 2022

$XPRT & Persistence Chain 🦾

pSTAKE💧💰

  • Anchor Protocol hosted a Twitter space AMA featuring the Persistence team to dive deeper into the onboarding of bATOM as collateral on their platform, while also discussing the implications for pSTAKE and the Cosmos/Terra ecosystems as a whole.
  • As of March 24, pSTAKE users had amassed over $470K in staking rewards since launch ($138,807 in ATOM and $337,518 in XPRT).
  • The 30 million $PSTAKE airdrop was initiated. Eligible users received the first batch in March. The distribution of retroactive $PSTAKE rewards for stkASSET liquidity providers on SushiSwap was also initiated.
  • The mechanics of the $PSTAKE airdrop were simplified so that all participants became eligible to receive 100% of their token allocation, opening the door for more rewards to be disbursed among community members.
  • The $PSTAKE/$OSMO pool #648 on Osmosis continues to provide high APRs of up to ~238% for liquidity providers.

Broader Persistence Ecosystem 🌐

The Persistence team continues to march on with improved platform enhancements, activities, and integrations that bring us closer to bringing liquid staking further into the limelight. As we move further into 2022, we’ll keep laying the foundation for greater use cases for our liquid staking assets and beyond.

Don’t forget to follow our socials below to stay informed on what’s happening behind the curtains.

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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