Throughout the month of June Persistence has kept advancing on multiple fronts, regardless of market turbulence. We’re moving the needle continually closer to our grand vision to bring our liquid staking ecosystem to the forefront.
As we continue to move along the continuum and deploy key upgrades and product developments, we continue to remain optimistic about the significant impact liquid-staked assets will have on PoS and DeFi as a whole and how liquid staking will advance the industry.
To wrap up the month of June and pave the way forward into Q3 2022, let’s recap our progress points over the past month.
Major Highlights 🚀
- The Persistence team attended Consensus 2022 in Austin, Texas from June 9 – 12. It was a pleasure to connect with the blockchain industry’s community of builders and innovators. On top of that, we co-hosted an offsite Cosmos ecosystem panel with the teams from Akash Network and Saga on ‘Bridging the Web2 to Web3 Divide.’
- Tushar Aggarwal and Mikhil Pandey from the Persistence team were featured in an exclusive interview with Cryptocito. They covered and discussed Persistence’s goals, growing ecosystem, and PoS liquid staking solutions for Cosmos and beyond with pSTAKE.
- XPRT auto-compounding recently went live on Yieldmos, allowing XPRT stakers to automatically restake their staking rewards and earn a projected 42% APY (35% APR) by staking via the app.
- Osmosis enabled superfluid staking for the XPRT/OSMO pool, allowing LPs who bond for 14 days to receive an additional 13% APR in rewards (in addition to swap fees and $OSMO liquidity mining rewards).
Key Releases 📢
- How Liquid Staking is Supercharging DeFi: We took a deep dive into the limited utility of locked staked assets and the opportunity cost of staking when it relates to available DeFi opportunities. We also touched on the benefits that Persistence and pSTAKE are bringing to PoS and DeFi through liquid staking.
- stkETH User Guide: The recent launch of pSTAKE’s ETH liquid staking implementation was a success. To help onboard users, we developed a comprehensive, step-by-step written tutorial teaching users how to mint, swap, and supply liquidity with stkETH.
Persistence Monthly Stats 📊
$XPRT & Persistence 🦾
- Governance proposal #242 on Osmosis to match external XPRT incentives for XPRT/USDC pool #719 was passed, providing users with a current ~245% in APR in addition to $OSMO incentives, amassing $1.19M+ in TVL at the time of writing.
- XPRT compounding went live on Yieldmos, allowing users to automatically restake their staking rewards and earn a projected 42% APY (35% APR) through a selected validator.
- The staking ratio of XPRT (tokens locked in staking) remains among the highest in the industry at around 86%.
- The stkATOM-ETH SushiSwap pool incentivisation period concluded. 150,000 $PSTAKE tokens in rewards are being proportionally distributed to all LP tokens that were staked during the duration of this period.
- pSTAKE’s app was made available on the MathWallet dApp store interface, allowing users to find a direct link to the platform amongst other popular blockchain applications.
- pSTAKE enabled WalletConnect support for $ETH staking, allowing users to connect various popular mobile or desktop wallets via its user interface.
- The PSTAKE/OSMO pool #648 on Osmosis continues to stand strong, currently earning ~134% APR with external incentives.
With ongoing developments and advancements being made at a rapid pace, we’re inching closer to becoming the go-to ecosystem and financial hub for liquid staking.
The Persistence team is continuing to take on the challenges required to effectively build out our product line and continue to deliver on all fronts. Moreover, we’re making the best use of the current market conditions by becoming stronger and more robust through innovative developments.
Stay tuned to our social media channels to keep an eye on what we have in store for the coming months and beyond. Let’s make the remainder of 2022 a huge success for both our project and community.