October was a productive month at Persistence One. We made significant strides in developing our highly anticipated BTCfi interoperability solution. We successfully added support for multiple BTC variants to the product, marking a crucial step forward in our mission to make BTCfi more accessible.
Our mission at Persistence One is to enhance the accessibility of BTCfi. We are creating a premier platform for swapping BTC and its variants. With the emergence of numerous derivatives through Layer 2s and sidechains and the addition of BTC variants from Coinbase and Binance, we are dedicated to bridging the gap between these ecosystems across separate blockchains.
As we put the finishing touches on our testnet product, set to launch in November, and onboarded some BTCfi heavyweights for interoperability, October 2024 was a month filled with exciting developments that you wouldn’t want to miss.
Persistence One Highlights
- We started the month with a quick breakdown of the B² Network integration into the interoperability solution.
- We released the fifth installment of our “What’s Up Bitcoin” thread, covering the latest stories in the BTCfi world.
- We released a detailed breakdown of our achievements in Q3 2024, showing how far we have come in just a few short months.
- We then announced that we would integrate the newly launched cbBTC from Coinbase into our interoperability solution.
- An in-depth blog was published to explore why every project wants its own BTC variant and how this is fragmenting BTCfi.
- Persistence One announced a major partnership with Build on Bitcoin (BOB), a hybrid L2 with over $55 million TVL.
- Our COO, Jeroen Develter, released a detailed mid-month breakdown of what’s been happening in the Persistence One ecosystem.
- We released a quick overview of our partnership with BOB, just in case you missed the official announcement.
- We designed a great infographic to explain what Intents are.
- Persistence One integrated LayerZero into its backend to serve as a communications layer for our Intent-based interoperability solution. If you don’t want to read the blog, here’s a quick overview.
- Jeroen released an article on alexablockchain.com covering why Fragmentation Might Kill BTCfi and Drive Users Away.
- We released the sixth installment of our “What’s Up Bitcoin” series toward the end of the month.
- We wrapped up the month with a massive partnership with Merlin Chain, a leading L2 with over $1 billion TVL. Here’s a quick overview of the partnership.
Media & Community
The following are some of the highlights on the media and community side for Persistence One during October 2024:
- Persistence One attended Cosmoverse during the month. Our COO, Jeroen Develter, delivered a Keynote about “The Bull Case for BTCfi.” You can watch the full Keynote here.
- We hosted another Sats in Motion Twitter Space with BOB.
- Jeroen appeared on Multichain Nation to discuss Axelar’s Interchain Token Service.
XPRT Governance & Token Highlights
Here are some of the most prominent highlights of XPRT governance in October 2024.
- A proposal went live to incentivize the Persistence DEX pools with stkXPRT and PSTAKE rewards for October 2024. This proposal eventually passed, and the incentives for each pool can be viewed here.
- Another proposal, which also passed, went live toward the end of the month to incentivize Persistence DEX pools for November 2024.
- An XPRT/BTC liquidity pool went live on Osmosis, and 10,000 XPRT incentives were added to it.
- New AERO incentives were announced for the CL200-USDC/XPRT pool on Aerodrome.
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.