Persistence May 2024 update

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From introducing wBTC to announcing a new alignment of our ecosystem products, find out everything that happened in the entire Persistence ecosystem through May 2024.

From introducing wBTC to announcing a new alignment of our ecosystem products, it’s been a very busy and exciting month for Persistence as we take our ecosystem in a new direction. The following X post perfectly encapsulated where we wanted to head during the month of May 2024:

XPRT Governance Highlights

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

Here are some of the XPRT governance highlights:

  1. A proposal was passed to fix an issue with liquid stake automatic rebalancing.
  1. A proposal was passed by 92% to incentivize the stkXPRT/XPRT Metastable pool on Dexter with stkXPRT rewards.
  1. A proposal was passed to create a new WBTC/XPRT weighted pool on Dexter.
  1. A proposal was passed to fix the config for upgraded Dexter pool smart contracts.
  1. A proposal was passed to introduce the Persistence Core-1 v11.12.0 Upgrade to fix auto-compounding issues.
  1. A proposal was passed to recover the carbon IBC transfer channel.
  1. A proposal was passed to incentivize Dexter pools with XPRT, stkXPRT, and PSTAKE rewards for June 2024. 
  1. A proposal was passed to introduce the Persistence Core-1 v11.13.0 upgrade.
  1. A proposal was put forward to adjust the parameters for inflation.

Persistence One Highlights

April 2024 marked a milestone shift for Persistence One as we began introducing elements of our Bitcoin push into the ecosystem. Let’s take a look at some of the milestone highlights for the month:

  1. We kicked the month off by introducing stkXPRT to the Persistence community.
  1. We released a detailed breakdown of the benefits of stkXPRT.
  1. Then, we announced that Bitcoin was entering the ecosystem through wBTC.
  1. We also released a blog on why we’re building wBTC liquidity on Dexter.
  1. We released a guide on how to Bridge wBTC to Persistence and deposit liquidity on Dexter.
  1. A couple of days later, we launched a wBTC/XPRT liquidity pool on Dexter and Osmosis.
  1. With Bitcoin security coming to Persistence Core-1, we released a breakdown of why we believe chain security is important.
  1. We were integrated into SwapFast to enter Persistence One from Solana, Ethereum, and Base.
  1. Persistence also started a new initiative to take XPRT multi-chain and build liquidity on new ecosystems, starting with Base. 
  1. Finally, Persistence made a strategic decision to align the entire ecosystem and incorporate the Dexter decentralized exchange into the Persistence brand to give birth to Persistence DEX.

That wasn’t all; our team members had a very busy month appearing on interviews and co-hosting AMAs. Here’s a quick rundown of what we’ve been doing to push Persistence One in front of more communities:

  1. We started the month by getting a special shout-out from Cosmic Validator.
  1. Then we appeared on the allday Network for its Harmony Fest competition.
  1. We hosted an X Spaces hangout to discuss stkXPRT and what’s next for Persistence.
  1. We received a very good write-up about our collaboration with Babylon.
  1. Our team appeared at a WAGMI X space event to discuss the introduction of BTC to Persistence One.
  1. We also kickstarted two discussion on the Persistence forum regarding reducing the XPRT inflation rate and taking XPRT multi-chain and expanding liquidity on multiple chains, with the community very actively engaged in the discussions and betterment of Persistence One.

Dexter Updates May 2024

It was a very interesting month for Dexter in May, too. Let’s take a look at some of the updates that went down for our DEX.

  1. The month started with Dexter seeing upgraded smart contracts.
  1. We also released an innovative price impact feature.
  1. We released the Superfluid LP feature on Dexter.
  1. We released some cool guides on how to use the Superfluid LP tool on Dexter.
  1. We released a detailed breakdown of some of Dexter’s new features.

Furthermore, Dexter is being rebranded as Persistence DEX to enhance the brand and value proposition of Persistence One.

This involves integrating Dexter more closely into the Persistence One ecosystem by moving its operations directly onto the Persistence One platform. The strategic move aims to streamline focus, improve user experience, simplify user acquisition, enhance the value proposition, and align all stakeholders

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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