We’re incredibly proud to be introducing stkXPRT; the star of Persistence One.
stkXPRT is an innovative flagship solution by pSTAKE Finance that’s set to usher in a new era of use cases and liquidity for staked XPRT, the native token of the Persistence One network.
Through a monumental joint effort between pSTAKE and Dexter, the unveiling of stkXPRT will not only allow XPRT to be liquid staked on the Persistence chain but also allow already staked XPRT to be converted to liquid staked XPRT and added as liquidity on Dexter with a click of a button.
Designed to serve as the heartbeat of our ecosystem, stkXPRT will continue to power our modular dApps like pSTAKE and Dexter while introducing new use cases for stakers as they fuel our DeFi ecosystem and secure the Persistence Core-1 chain together.
Looking Back on the History of stkXPRT (ERC-20)
In Q2 2021, stkXPRT was launched as an ERC-20 token, serving as a liquid-staked representation of the XPRT token. When XPRT holders stake their assets, they receive stkXPRT (ERC-20) in return, providing them with a liquid asset equivalent to their staked amount. However, this implementation came with several trade-offs. These included the necessity of using a bridge for chain migration, high costs associated with stkXPRT issuance and burning, and a cumbersome manual process for claiming staking rewards due to the dual token model.
Despite these challenges, stkXPRT (ERC-20) achieved significant traction, reaching an all-time high Total Value Locked (TVL) of approximately $30 million. This milestone underscored the growing community support for both staking and securing the XPRT network while maintaining liquidity of the asset. Additionally, the XPRT bonded ratio—a key metric indicating the percentage of staked XPRT that contributes to the network’s economic security—remained exceptionally high, consistently around 75%.
In 2023, we began phasing out stkXPRT (ERC-20) following the introduction of our ERC-20 Liquid Staking Migration utility. This tool facilitates the transfer of stkXPRT (ERC-20) holdings back to the XPRT on the Persistence Core-1 chain, simplifying the user experience and enhancing network efficiency.
stkXPRT: The Star Returns
The launch of stkXPRT on the Persistence Core-1 chain is a milestone that the entire Persistence Community (Persisters) has eagerly anticipated. We are thrilled to announce that the moment has finally arrived—stkXPRT will go live soon!
Here’s what this means for the Persisters 👇🏼
→ Persisters will be able to stake their XPRT and use it in DeFi on Dexter
→ Persisters will be able to liquefy their already staked XPRT and have it added as liquidity on Dexter
Let’s look at it more closely!
Liquid Staking with a 0% fee
Liquid staking fees are charged on auto-compounding of the staking rewards generated. Users will pay 0% fees for the XPRT liquid staking for the foreseeable months after launch with pSTAKE on Persistence One. With stkXPRT, users’s staking rewards will be 100% auto-compounded offering higher yields.
No-click auto-compounding
On liquid staking XPRT with pSTAKE, the user’s staking rewards (earned from XPRT inflation and tx fees) are auto-compounded and reinvested with the pSTAKE Protocol without any need for the intervention.
Decentralized Validator Strategy
It’s a given that decentralization of PoS chains is crucial—resilient network, enhanced security, fair governance, and community trust.
In alignment with Persistence One’s core value of decentralization, stkXPRT will launch with pSTAKE’s automated stake delegation and rebalancing model that will constantly optimize for decentralization by using various parameters to suggest the final validator set and the amount of stake delegation to each validator in this set.
For stkXPRT, The initial validator set for stkXPRT will be ~60 Persistence One validators based on the following data over the last 180 days:
- Voting power: 0.05% to 5%
- Commission: 5% to 10%
- Average 90-day uptime: 95% to 100%
- Governance participation in the last 180 days: 60% to 100%
- Validator bond: 0.1% to 20%
- Time in the active set in the last 180 days
- Slashing events in the last 180 days
Safe, Secure. Solid
Liquid Staking on Persistence One has been audited by leading security firms like Halborn, Oak, Notional, and Hexens security firms. Persistence One is also one of the only ecosystems in Cosmos to have an active Immunefi Bug Bounty program. To double down on security, stkXPRT is also audited separately by Oak and Hexen Securities.
Superfluid LP: Using Dexter for Instant Liquid Staking and LP’ing
Superfluid LP is the most powerful feature of XPRT liquid staking. This framework utilizes the Liquid Staking Module, which is part of the Cosmos stack. It provides a simple and innovative feature that will allow natively staked XPRT to convert into a bonded stkXPRT/XPRT LP position on Dexter (DEX on Persistence One) in a single click.
stkXPRT: Becoming the Heartbeat of the Persistence One Ecosystem
Persistence One operates under the belief that liquid staking tokens (LSTs) will become the standard base assets in the entire crypto DeFi ecosystem. Liquid staking unlocks liquidity for staked assets, allowing them to be utilized in the thriving DeFi ecosystem that continues expanding.
With Persistence One being at the center of the liquid staking economy on Cosmos, the stkXPRT is set to become the heartbeat of its entire ecosystem.
The stkXPRT asset has been one of the most demanded and highly anticipated products by our beloved Persisters (the Persistence One community), and we’re incredibly excited to release this fine piece of art that showcases the synergies and unified teamwork between pSTAKE and Dexter.
Wen launch? Soon!
About Persistence One
Persistence One is a purpose-built Layer 1 on a mission to maximize yield and security through Liquid Staking and Restaking. It offers a technically advanced, secure, and robust infrastructure for modular and smart-contract dApps.
pSTAKE Finance is a Cosmos-focused LST issuance protocol for ATOM, OSMO, BNB, and DYDX built on Persistence One that empowers users to earn staking rewards while participating in DeFi.
Dexter is a decentralized exchange on Persistence One that offers capital-efficient trading and yield opportunities for LSTs, stablecoins, and other tokens.
Persistence One is bringing Restaking to Cosmos. Become a Persister today!
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