In March 2024, the Persistence One ecosystem saw remarkable growth, underscored by a surge in TVL hitting $16M+ and liquidity, alongside a record monthly volume on Dexter.
Key initiatives like the introduction of newer stkTokens on pSTAKE, liquidity pools on Dexter and incentivization programs significantly enhanced the ecosystem’s dynamism.
Notably, Persistence One announced its plan to adopt Bitcoin Security through Babylon, unlocked the potential of $1 trillion+ Bitcoin to empower the chain. Additionally, the introduction of Restaking in Cosmos on Persistence One will be one step closer towards our mission to maximize yield and security through liquid staking and restaking.
March 2024 has been one of the very exciting months, with our vision being clearer than ever and our commitment towards making Persistence One the liquid staking and restaking hub.
A Look into XPRT Governance
- A proposal for creating XPRT/SHD pool on Dexter was initiated.
- A proposal for Incentivization of Dexter pools with XPRT rewards for March 2024 was initiated, upon passing of this proposal the rewards will automatically be created on the Dexter multi-staking contract using the Dexter Governance Admin contract trigger.
- A proposal for creating STARS, stkSTARS Metastable Pool on Dexter was initiated.
- A proposal for Incentivization of Dexter pools with XPRT and PSTAKE rewards for March 2024 was initiated.
- A proposal for XPRT/STARS Weighted Pool on Dexter was initiated, upon passing this will open a new yield opportunity for liquidity providers on Dexter. Easy trading exposure to Stargaze Network’s native token and aligns the Persistence One and Stargaze communities.
- A proposal on Param Update: Liquid stake and Ratesync Params was initiated.
- First LST memecoin pool HUAHUA/stkHUAHUA was initiated on Dexter.
March Highlights
- Posted about Persistence One’s vision for Liquid Staking and Restaking.
- Persistence One announced to adopt Bitcoin Security through Babylon Liquid Staking while unlocking the potential of $1 trillion+ Bitcoin to empower the chain.
- Our team went to London for BlockworksDAS.
- Foundation Delegation Program Round 3 went live.
- Podcast with Blocmates on Persistence One Liquid Restaking on Cosmos.
- Video published by CryptoCito covering about Persistence One Restaking.
- Posted a deep dive on Restaking and Other Economic Security Models.
- Video out with Crypto Pragmatist about Restaking yields.
- Posted Restake Anything with Persistence thread.
- Persistence Chain celebrated 3 years of producing blocks with 16M+ blocks by 100 validators and ~4M txns by 46k+ accounts.
- Podcast with Revelo Intel, covering catch-up on Cosmos and Persistence Ecosystem.
pSTAKE Updates
- pSTAKE launched its New Validator Delegation Strategy for stkATOM. The ATOM stake is now being distributed amongst 62 automatically selected validators.
- stkOSMO/OSMO Dynamic S+ is one of the best-performing vaults and is live with 30k PSTAKE incentives.
- Posted about pSTAKE’s Thesis for Cosmos Liquid Staking.
- Launch of STARS liquid staking on pSTAKE. Live with 69 validators, ‘Flash unstake’ feature, and 70,000 PSTAKE incentives on stkSTARS/STARS Metastable pool on Dexter.
- Posted pSTAKE’s Road to Traction Blog 2024 covering the key goals and objectives.
- pSTAKE’s TVL surpassed $20M, with a ~80% increase in the last month.
- Posted an update about DYDX Liquid Staking integration on what’s next for stkDYDX on pSTAKE.
- HAVA coin airdrop to stkATOM and stkOSMO holders.
- stkBNB TVL has now surpassed $8M+
- pSTAKE partnered with Pancake Swap to make $stkBNB the most liquid BNB LST.
- Posted pSTAKE Thesis on BNB Liquid Staking and can be as big as ETH.
- HUAHUA memecoin liquid staking went live on pSTAKE, with 20,000 PSTAKE incentives on stkHUAHUA/HUAHUA Dexter pool.
- stkBNB/BNB farm went live on Pancakeswap with 1.2x CAKE multiplier rewards.
Dexter Updates
- stkDYDX Metastable pool on Dexter has surpassed $500k in liquidity.
- 5th highest daily transactions since genesis. Highest on-chain volume day with ~$315k traded on dexter.
- $600k+ Liquidity on USDC/USDT pool on Dexter.
- Monthly volume on Dexter has hit an ATH of ~$4M.
- Cryptocito shared a video on yields on Dexter.
- New pools went live: stkSTARS/STARS Metastable pool, STARS/XPRT weighted pool, and stkHUAHUA/HUAHUA metastable pool.
- The new Dexter reward schedule went live.
- Dexter completed it’s first year with $13M+ Total Traded Volume, $7.5M+ TVL, 4513 LPs + Traders and 11 pools.
Conclusion
March 2024 marks a pivotal moment for Persistence One as we solidify our rhythm and refine our go-to-market strategies. While we can not yet share all the details with you, the month ahead promises groundbreaking developments.
Expect a significant emphasis on the following:
More everything, less friction!
More -> Assets, Yields, Security, Builders.
Less -> Onboarding Hurdles
=> T R A C T I O N
Our goal for the next month is simple: To maximize traction and streamline the user experience. Stay tuned for more updates as we continue to innovate and elevate staking, liquid staking and restaking experience to new heights. Stay tuned for further updates!
About Persistence
The Persistence core-1 chain hosts pSTAKE Finance–a multi-chain liquid staking protocol for issuing LSTs that allows users to earn staking rewards while participating in DeFi primitives, Dexter–the Interchain DEX for yield-generating assets like LSTs.
Persistence aims to offer a one-stop shop for liquid staking for PoS (Proof-of-Stake) users and enable developers to build innovative applications around LSTs.
Become a Persister today!
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