August was an absolutely electric month, to say the least, as we witnessed exponential growth for both Persistence and pSTAKE. Plenty of action took place at the forefront and behind the scenes as our team was hard at work making it all happen.
The buzz was largely in part due to the success of the stkBNB mainnet launch, inviting the BNB community into the pSTAKE ecosystem. Our BNB liquid staking solution moved us closer to making liquid staking the de-facto standard of the PoS (Proof of Stake) economy.
Get ready to soak in the key highlights over the past month with the latest edition of our newsletter.
Major Highlights 🚀
- Stakley, Forbole, RockX, Kiln, BlockDaemon, Blockpower, Provalidator, and AutoStake became active validators on the Persistence network to help support the chain and enhance security. In addition, Stakley launched a dedicated page for XPRT staking on their website and Forbole enabled users to stake their XPRT.
- The CosmWasm update was successfully completed on the testnet, bringing CosmWasm another step further to going live on the mainnet.
- A new on-chain proposal went live where users can vote to implement the Persistence Core-1 Chain v3 upgrade.
- pSTAKE announced the exciting launch of its stkBNB mainnet, fully enabling BNB liquid staking on the protocol to allow users to simultaneously earn on-chain staking rewards and additional yield across BNB Chain DeFi.
- pSTAKE integrated with top BNB Chain dApps (PancakeSwap, Alpaca Finance, Beefy Finance, OpenLeverage) and partnered with major security firms (Certora, Halborn, Peckshield, Immunefi, Forta Network) to continue to add utility and improve upon its stkBNB product.
Key Releases 📢
- stkBNB Security Partners & Measures: An overview pSTAKE’s security partners, showcasing the team’s efforts to improve and create more robust platform security for the stkBNB product.
- pSTAKE’s Liquid Staking Solution for BNB: Featured on CoinMarketCap, this article brought a comprehensive overview of BNB liquid staking and how it will function on pSTAKE.
- pSTAKE x PancakeSwap Partnership: Quick highlights of pSTAKE’s integration with PancakeSwap to offer swapping, liquidity providing, and farming opportunities in DeFi for stkBNB and PSTAKE holders on BNB Chain.
- pSTAKE x Alpaca Finance Integration: An overview of pSTAKE”s partnership with Alpaca Finance to enable leverage yield farming for the stkBNB/BNB & PSTAKE/BUSD pools.
- stkBNB User Guide (BNB Liquid Staking Tutorial): pSTAKE released a comprehensive overview and guide on how to stake BNB, unstake stkBNB, and utilize stkBNB across all enabled BNB Chain DeFi integrations.
- pSTAKE x Beefy Finance Integration: Highlights of the partnership between pSTAKE and Beefy Finance, allowing users to receive auto-compounding rewards by depositing liquidity into the stkBNB/BNB vault.
- The State of ATOM Staking – August 2022 Report: The second iteration of pSTAKE”s ATOM staking report covered month-over-month trends of all Cosmos Hub staking data and information.
- pSTAKE x Forta Network Partnership: A look into how Forta Network is supporting the stkBNB product’s security through deploying alert bots to detect issues and abnormal transactions.
- pSTAKE x OpenLeverage Partnership: An overview of pSTAKE”s integration with OpenLeverage, bringing margin trading and leveraged staking for stkBNB holders and lending opportunities for BNB holders.
- pSTAKE’s stkBNB – Current Progress & Milestones: pSTAKE’s guest post on CoinMarketCap covered all of the progress for stkBNB since mainnet launch, from head to toe.
Persistence Monthly Stats 📊
Ecosystem 🦾
- Persistence was integrated into the Citadel.one app, letting users hold, trade, stake, and more with their XPRT tokens through its user interface.
- The Persistence team will attend and participate in the Messari Mainnet (9/21 – 9/23) and Cosmoverse (9/26 – 9/28) conferences in September.
- AUDIT.one published a comprehensive staking report that explored data across the top 10 chains within Cosmos.
- Stakin held an exclusive podcast with Persistence’s very own Mikhil Pandey, covering Persistence and pSTAKE and their role across the liquid staking landscape.
- On August 9, pSTAKE hosted an AMA on their Telegram Community channel (hosted by Mikhil Pandey) to celebrate the stkBNB mainnet launch and answer questions surrounding the new BNB liquid staking implementation.
- To enhance the user experience for stkBNB, pSTAKE integrated with industry-leading web3 wallets supporting the BNB Chain network to allow users to hold, trade, and engage in DeFi with their liquid-staking tokens.
Tech & Product Updates ⚒️
- The Persistence team created a new release for v3.1.1 of the Persistence Core-1 Chain and is preparing for the v3 launch.
- We began using the persistence-sdk repo in our other repos for internal development and are in the process of also moving the dependency from persistenceCore on the halving module.
- Efforts are being made to automate the v3 upgrade process (running previous chain versions, setup scripts, creating software upgrade proposals, etc.) to make integrations and upgrades smoother, faster, and more secure.
- Our team added `upgrades/` section (repo link here) as a place to post upgrade wikis on the networks repo as part of the code itself.
- The persistence-sdk repo was separated and made public – all modules will be part of the persistence-sdk. Now, the persistenceCore repo will only have the lightweight chain and app wiring.
- All repos will be standardized by making them consistent in how proto files are generated, make commands, testing frameworks, and the CI/CD. Establishing consistency is key for the project to improve efficiency and speed up processes.
- A fix is being explored for errors caused by the API breaking changes of cosmos-sdk for sims functions when upgrading the persistenceCore with wasm 0.28 tag.
More to Come
With pSTAKE’s BNB liquid staking product now fully deployed and running, in addition to other major plans for the Persistence Core-1 mainnet (CosmWasm, stkATOM, stkXPRT, and more), there’s plenty to be excited about.
Don’t forget to follow us on our socials to stay informed and receive key information on what’s next.
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