September proved to be a productive month for Persistence One as we continue to build toward the testnet of our Bitcoin Interoperability product, designed to push the boundaries of what’s possible in the BTCfi world.
Our goal is to make BTCfi more accessible by creating the premier venue to swap BTC and its variants. With dozens of derivatives emerging through Layer 2s and sidechains, alongside a handful of BTC variants from Coinbase and Binance, we’re here to solve the fragmentation between these ecosystems across separate blockchains.
From beginning the onboarding of BTCfi projects to making the first cross-chain BTCfi swap from Base network to Ethereum, here’s everything that’s been happening in the Persistence One ecosystem during September.
Persistence One Highlights
- We started the month with a detailed explainer of why building for BTCfi is more relevant than ever before.
- We continued with an in-depth overview to take a look at the tech that spawned the BTCfi evolution. From Taproot to Babylon, we cover everything that’s pushed BTCfi to the forefront of the industry.
- With Persistence DEX continuing to grow, we highlighted some multi-chain DeFi opportunities to explore XPRT and stablecoin pairings on our flagship DEX.
- Persistence One continued to break down the evolution of the BTCfi movement by releasing a breakdown of the rise of BTCfi in 2024. The article covers why all eyes are on Bitcoin and how BTCfi will be a crucial driving force for the industry moving forward.
- In September, we released 30,000 XPRT incentives for the XPRT/WBTC pool on Persistence DEX and 40,000 XPRT incentives for the XPRT/ATOM pool. The XPRT/WBTC pool continued to build in terms of volume following the added incentives.
- With the BTC cross-chain interoperability testnet incoming, we decided to answer some of our most frequently asked questions.
- We released the next edition of our “What’s Up Bitcoin” series, breaking down the latest happenings in the BTCfi world from the top protocols in the space.
- Persistence One updated its website to introduce both Spanish and Russian languages.
- With Bitcoin Dominance making multi-year highs, we examined BTCfi’s role in its crypto market takeover.
- Persistence One made a crucial step toward the public testnet for its BTC Interoperability product by making our first private testnet swap.
- In the final days of the month, we continued with the education by exploring Bitcoin’s role in a multi-chain ecosystem.
- Finally, we released a sneak preview of the UI for our BTC Interoperability product.
Media & Community
The following are some of the highlights on the media and community side for Persistence One during September 2024:
- The month started with our team heading to Korea Blockchain Week in Seoul to meet the community.
- Our COO, Jeroen Develter, made an appearance on the Web3 with Sam Kamani podcast to discuss building bridges in Bitcoin L2s
- Develter continued to make appearances at conferences by making a trip to Singapore to participate in Token 2049.
- Persistence One joined the “Building on Bitcoin Singapore” event hosted by Stacks. Here are some great photos from the event.
XPRT Governance Highlights
Here are two of the most prominent highlights of XPRT governance in September 2024.
- A proposal was passed to incentivize Persistence DEX pools with stkXPRT for September 2024.
- A proposal was passed to upgrade to PersistenceCore v11.15.0 to address the IVC Timeout Fix and Vesting Accounts issue with LSM.
About Persistence One
Persistence One is building a Bitcoin interoperability solution to enable cross-chain BTC swaps across Bitcoin Layer 2s.
The rapid rollout of Bitcoin L2s and side chains has led to fragmentation, hurting BTCfi scalability. Using the power of intents, Persistence One will enable users to move assets across Bitcoin Layer 2s more efficiently than traditional bridging, offering fast, secure, zero-slippage cross-chain swaps.