Persistence June 2024 Update

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From rebranding Dexter into Persistence DEX to taking XPRT multi-chain, find out everything that happened throughout the Persistence One ecosystem in June 2024.

June 2024 was a pivotal month for Persistence One. From rebranding Dexter into Persistence DEX to taking XPRT multi-chain, it’s been a very busy month for Persistence One as we gear up to leverage Bitcoin Security with Bitcoin DeFi;

The Persistence One ecosystem remains robust and steady through June 2024. The latest stats show a 72.6% staking ratio, making the Persistence Core-1 chain one of the strongest PoS chains with its high bonding ratio. In addition, inflation stands at 12% in the month with over 112,000 users on the chain;

Let’s take a closer look into the highlights of Persistence One, the XPRT token, and Persistence DEX throughout June 2024.

Persistence One Highlights

April 2024 marked a milestone shift for Persistence One as we introduced elements of our upcoming Bitcoin push into the ecosystem.

Let’s take a look at some of the milestone highlights for the month:

  1. We kicked off the month with some huge news: We announced that Dexter was to be integrated directly into Persistence One and rebranded as Persistence DEX. The official rebrand was announced on June 14th.
  2. XPRT then started its multi-chain journey by entering Base through a listing on Aerodrome. You can take a look at this blog to learn more about this, and check out this video to learn how to bridge XPRT to Base. 
  3. We released an in-depth Twitter Article explaining why altcoin chains need more security and detailed how BTC can help.
  4. We released a full, in-depth overview of how to onboard to Persistence DEX.
  5. We highlighted the benefits that stkXPRT brings to Persistence One.
  6. Persistence DEX was integrated with Skip Protocol, allowing the router to utilize its liquidity pools in ross-chain swaps. 
  7. We also highlighted the top pools on Persistence DEX, showcasing the incentives and unique features for each individual liquidity pool.

It didn’t stop there; with Persistence One rebranding Dexter and heading in a multi-chain direction, the platform was also featured on the following media outlets and secured additional partnerships:

  1. Persistence One also partnered with TFM to provide seamless IBC Transfers of Persistence tokens through the Interchain.
  2. Persistence One was featured in TechTimes, which covered our plans to boost PoS security through Babylon.
  3. Mars Protocol also updated stkATOM to utilize the deployed redemption rate contract developed by Persistence.

XPRT Governance Highlights

With 72.6% 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 recover the carbon IBC transfer channel.
  2. A proposal was passed to incentivize Dexter pools with XPRT, stkXPRT, and PSTAKE rewards for June 2024. 
  3. A proposal was passed to introduce the Persistence Core-1 v11.13.0 upgrade.
  4. A proposal was put forward to adjust the parameters for inflation.
  5. A proposal was passed to whitelist the Skip API team to allow them to deploy and manage the Skip Router contacts to interact with Persistence DEX.
  6. A proposal to incentivize the Persistence DEX pools with XPRT, stkXPRT, and PSTAKE rewards for July 2024 went live

Persistence DEX Updates June 2024

Alongside rebranding Dexter into Persistence DEX, there were also some milestone achievements for the DEX and some additional incentives. Let’s take a look at some:

  1. The cumulative volume on the USDC/USDT pool surpassed $6 million
  2. 30,000 XPRT incentives were introduced to the WBTC/XPRT pool.
  3. The newly launched WBTC/XPRT pool on Persistence DEX quickly crossed $100K in liquidity
  4. Persistence DEX surpassed $22M in Total Trading Volume 

About Persistence One

Secured by Bitcoin, Persistence One is a hub for trading Bitcoin and Liquid Staked Tokens (LSTs).  

Trade efficiently or provide liquidity  👉🏻  app.persistence one

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