Our Liquid Staking and Restaking Vision

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Recap Persistence One’s guiding vision, its relevance today, and the road for Liquid Staking and Restaking ahead.

Cosmos since Day 0

Persistence One bleeds Cosmos. The foundational roots of the ecosystem grew from being early supporters (and betters) of Proof of Stake and the app-chain thesis in 2019. Through the multiple ups and downs and cycles of the market, Persistence One’s founding principles have remained as strong as ever.

In this blog, we revisit Persistence One’s guiding vision, its relevance today, and the road ahead.

Persistence One has evolved from one of the first IBC-enabled chains to a leading Layer 1 ecosystem on a mission to maximize yield and security through Liquid Staking and Restaking.

Let’s briefly recap the critical ecosystem events (a lot of them!) that have transpired:

YearWhat happened?
2019– Introduced Persistence One
2020– Cosmos Game of Zones and Game of Stakes
– XPRT Fundraise
– XPRT StakeDrop for ATOM and KAVA stakers
2021– XPRT StakeDrop for MATIC stakers
– XPRT Public Sale on AscendX
– Persistence Wallet launch
– ATOM liquid staking launch on Ethereum by pSTAKE
2022– BNB liquid staking launch in partnership with Binance Labs by pSTAKE
– XPRT Cointype Migration
– CosmWasm smart contract launch
2023– Dexter launch
– XPRT inflation halving
– Native USDC and USDT
– 1-click conversion of staked ATOM to liquid staked ATOM 
– XPRT became the default token of Dexter
– Entered the ATOM Economic Zone
– Native ATOM and OSMO liquid staking launch
2024 (so far)– DYDX liquid staking launch
– STARS liquid staking launch
– On-chain stats at all time high
Brief History of Persistence One

While a LOT has been shipped, Persistence One’s guiding vision has ensured that the ecosystem is constantly moving ahead in the right direction. Let’s dive deeper.

Proof-of-Stake will become the norm

The world will be full of secure and interoperable PoS blockchains with flourishing DeFi as staking becomes the fixed income of crypto.

Sovereignty. Flexibility. Adaptability. These three ground-breaking aspects of creating decentralized networks first attracted Persistence One contributors to the vast and beautiful land of the Cosmos. 15.75M+ blocks later, Cosmos sees one of the most significant value creations unfold before us.

In the last year alone, we have seen established projects like dYdX move to a Cosmos app chain. New-era projects like Celestia, Dymension, and Hyperlane have brought a wave of Modularity and significantly newer eyeballs to Cosmos. The earliest Cosmos believers like Akash, Persistence One, Stargaze, and Injective have cemented their positions in the niches they started building. To top it off, Cosmos has become the go-to ecosystem for new-era projects like Eclispse, Initia, Saga, and Babylon to launch.

Persistence One started building a liquid staking hub in 2021. Besides the cosmos ethos and belief in app chains, the biggest driving force was foreseeing the evolution of staking yield to become the fixed income of crypto. Like traditional finance, this meant that this would become the base layer of value, exchange, and commerce.

Today, ecosystem products pSTAKE Finance (LST Issuance) and Dexter (Liquidity) are flourishing, having laid the foundational roots of this “Persistence Economic Layer”. In the future, the ecosystem will see newer primitives like Money Markets, Vaults, etc., and never-before avenues like Cosmos Restaking that build out Persistence One’s vision of maximizing yield and security.

As time passes and the industry matures, Liquid Staked Tokens (LSTs) will become the default capital-efficient medium of exchange and utility. While we already see multiple primitives built on top of Ethereum, it can only be so long before this wave of LSTfi (liquid staking finance) hits Cosmos. By being ahead of the curve and building the necessary secure infrastructure in the last few years, Persistence One will be THE ecosystem to build, deploy, and be on once the storm hits.

More Assets. More Yields. More Builders. More Integrations. More Partnerships. More Traction.

Security will always have to be abundant

Blockchains always look to improve security through various sources and keep things hedged.

Economic Security of Blockchains can be considered analogous to Nations. A country follows numerous policies to develop the national economy as desired. In the decentralized world, chains must create various ‘security policies’ to build an on-chain economy.

The Persistence One Ecosystem has always been an advocate for security abundance. XPRT, the native token, has maintained > 75% staking ratio, providing crucial security to the chain for economic activity to flourish without any hassle.

From a development perspective, security is constantly scrutinized. 

  • Enabling permissioned CosmWasm
  • Ensuring every single piece of code is audited
  • Performing multiple audits for ecosystem products 
  • Being one of the only ecosystems in Cosmos with an active bug bounty program 
  • Having a full-fledged on-chain alerting system

The next phase of growing security for the ecosystem is adopting other security models for the chain. Borrowing security from other high market cap assets without diluting XPRT’s token utility and/or sovereignty is fascinating.

Persistence One is actively looking to add to its chain security by exploring integrations with Babylon to adopt BTC security and Ethos to adopt restaked ETH security. To go beyond single assets, Persistence One is also building the Restaking infrastructure for any chain to adopt security from any other chain.

More Security.

Liquid Staking and Restaking Path Ahead 

By foreseeing the growth of the Proof-of-Stake world, Persistence One has constantly stayed ahead of the curve to predict market demands. Products like pSTAKE Finance and Dexter that solved for niched use cases and empower users with diversified yield opportunities have met these market demands.

Having more DeFi primitives alongside Restaking builds on top of the foundational roots of liquid staking to bring Persistence One’s vision of maximizing yield to life.

Expanding the ecosystem’s security models to BTC (Babylon), ETH (Ethos), Restaking, and more continues to add to Persistence One’s vision of maximizing security.