Persistence April 2024 Update

The entire Persistence One ecosystem saw significant progress in April 2024, which marked the protocol’s third year of operating in the Cosmos ecosystem. 

The Persistence One team was busy in April, attending the popular Token2049 and Dubai Blockchain Week events in Dubai, as well as the Hong Kong Web3 festival. On the product side, Persistence One introduced stkXPRT, pSTAKE unveiled its new website, and Dexter hit an all-time high cumulative trading volume of $17M.

Let’s take a look at the entire Persistence One ecosystem through April 2024.

XPRT Governance Highlights

With 75.6% of the total XPRT supply staked, Persistence Core-1 maintains one of the highest staking ratios amongst PoS chains. 

Here are some of the XPRT governance highlights:

1. A proposal was passed to incentivize Dexter pools with XPRT and PSTAKE rewards for April 2024 to increase participation and liquidity. 
2. A proposal was passed to change the incentive schedule for Dexter pools in April 2024 by including extra rewards for the stkATOM/ATOM pool. 
3. A proposal was passed to allow the Persistence Core-1 v11.9.0 Upgrade to go live. 
4. A proposal to migrate the Multi-Staking Contract on Dexter to version 3.1. 
5. A proposal was passed to simplify the process of creating LP positions and increase liquidity on Dexter. 
6. A proposal suggested creating a new stkXPRT/XPRT Metastable Pool on Dexter to support the Superfluid LP feature and increase trading activity on Dexter. 
7. A proposal was passed to disable the Instant LP Unbonding feature for the stkXPRT-XPRT pool within the Persistence multi-staking contract to safeguard pool stability and promote long-term staking. 
8. A proposal to upgrade to PersistenceCore v11.10.0 was passed.
9. A proposal seeking to extend the service of CryptoCrew’s IBC Relayer service mandate for 2 months went live.
10. A proposal to incentivize Dexter pools with PSTAKE and XPRT for 30 more days went live.
11. A proposal started to upgrade Dexter’s smart contracts on the Persistence chain to improve functionality and UX. 

April Highlights

After hitting its third anniversary, April was a significant month for Persistence One. Highlights from the month include:

• Attending the Dubai Token 2049 event.
• Launching our new Persisters Squad program.

Let’s take a look at more highlights from the month:

1. Reached the three-year milestone of persisting in the Cosmos ecosystem. 
2. Hosted a Twitter Space to celebrate our third year of activity.
3. Introduced the Persisters Squad Program, allowing the community to help share crypto knowledge with others.
4. Appeared on The 100x Podcast and TEACHMEDEFI to talk about liquid staking and restaking.
5. The team attended the Hong Kong Web3 festival, spoke at Appchain Day, and met fellow builders in Hong Kong.
6. Released a new questboard on Zealy.
7. Our team attended Token2049 and the Dubai Blockchain week in Dubai.
8. Co-hosted an event around Token2049 alongside KeyrockTrading in Dubai.
9. Announced a partnership with Elys Network.
10. Posted a blog about Bitcoin’s capabilities in bolstering Persistence One’s security through Babylon. 
11. stkXPRT, the Star of the Persistence One ecosystem was introduced to Persisters, with its launch now imminent.

pSTAKE

pSTAKE launched a fresh and modern update to its website this month alongside announcing the “Grow your PP” campaign and exploring capital efficiency on Bitcoin. 

Let’s take a look at what’s been happening in the pSTAKE ecosystem this month:

1. Partnered with StakeDAO to offer 9,000 $PSTAKE as bribes for stkBNB 
2. stkATOM went live on Nitron.
3. stkATOM went live on Inter Protocol Vaults to mint IST. 
4. We released a blog post on the BNB Chain Fusion event.
5. We revealed our new updated website with a fresh look. 
6. We released a blog post on the pSTAKE Incentive Program for April 2024.
7. We released a blog post surrounding the Osmosis community approving a proposal to redeploy 1.25M OSMO from its community pool onto the pSTAKE stkOSMO Supercharged pool.
8. Our developers appeared on the “Into the Code” podcast series.
9. Our co-founder, Mikhil Pandey,  appeared on the Brave New Coin podcast.
10. A blog post about Bitcoin Capital Efficiency with Liquid Staking was released.
11. A stkATOM vault opened on the Amulet Finance testnet on Neutron.

Dexter Updates

With market volatility up, trading volume is following suit. As a result, Dexter witnessed the highest volume week on the platform this month and was added to DeFi Llama, too!

Let’s take a look at the highlights for Dexter this month. 

1. The new April reward schedule for $XPRT and $PSTAKE incentives was released.
2. Added to DeFi Llama to display yields and performance. 
3. Witnessed the highest volume week for Dexter, with $1.12 million traded across all pools.
4. Released an in-depth thread regarding our plan to enhance liquidity and pool efficiency for LSTs in Cosmos.
5. Cumulative volume for Dexter officially crossed $17 million in April.

Conclusion

As we look toward May and the future, we have something incredible cooking for you, which smells delicious! If you’ve been tracking what we’ve posted recently, you might have hints on what’s coming. Well, buckle up, as Persistence One is about to break ground in new territory as we continue to push forward towards our mission to maximize yield and security for our users. 

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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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