Persistence One is excited to announce the launch of the much-anticipated Persistence DEX on the Babylon Genesis Network. This marks a significant milestone in our journey to become the premier BTCFi liquidity hub, offering users seamless access to Bitcoin DeFi opportunities.
The initial trading pair and launch pool will feature XPRT and BABY. This allows us to showcase all of the DEX functionality while we closely monitor activity, collaborate with partners on pool incentives, and progressively expand trading pairs on Persistence DEX.
Over time, Persistence DEX is designed to support swaps between native BTC, Bitcoin LSTs and more, helping streamline liquidity flows as the Babylon ecosystem evolves. With LSTs expected to be a key pillar of BTCFi on Babylon, our goal is to contribute to a more unified, capital-efficient environment for Bitcoin-related assets.
Getting Started with Persistence DEX on Babylon
To begin your journey with Persistence DEX on Babylon, follow these steps:
Acquire BABY Token
The $BABY token is integral to the Babylon ecosystem, serving as the primary medium for staking rewards, gas fees and governance.
You can acquire $BABY tokens through participating exchanges or platforms supporting the Babylon network or by bridging using one of the options shared on the assets page.
Bridge XPRT to Babylon Genesis Network
To utilise your XPRT tokens on the Babylon Genesis network, you’ll need to bridge them accordingly. This process involves transferring XPRT from Persistence Core-1 Chain to Babylon, enabling you to engage with Persistence DEX.
To do so, navigate to the ‘Assets’ tab and click the ‘Deposit’ button beside XPRT.
This would open a pop-up with multiple options to complete the bridging transaction. For this guide, we are going to use Eureka.
The chains will be pre-selected. To proceed to the next step, simply type in the amount you wish to bridge to Babylon Genesis Network and complete the transaction.
So far, if you encounter any issues or need any assistance, please feel free to ask in our community chat or on Discord.
Swapping Between Assets
Once the tokens are on the Babylon Genesis network, you can seamlessly swap between XPRT and BABY, right now, using the Persistence DEX.
To do so, navigate to the home page, connect your wallet and follow the steps below:
Type the amount of asset you wish to swap from.
The amount you will receive is shown below. To initiate the swap, click the button below and approve the transaction.
That’s it. You have now successfully swapped the assets.
Adding Liquidity to Pools
To add liquidity to a pool and make the most out of future incentives, navigate to the ‘Pools’ tab and select the pool in which you want to add liquidity.
After doing so, you should be able to see a button to ‘Add Liquidity’.
Next up, you will have to enter the amount you wish to add as liquidity in the particular pool for the asset pair.
You get a choice to Bond LP tokens for 7 days to earn higher incentives. After checking the relevant option, click on ‘Add Liquidity’.
Approve the wallet prompt to complete the transaction, and then you will be able to see your Liquidity in the dashboard.
To withdraw your liquidity, you must first unbond your tokens. This can be done by either waiting for the 7-day unbonding period or by paying a 5% instant unbonding fee.
That’s it. You have now learned how to add Liquidity in a pool on Persistence DEX on Babylon Genesis Network.
Additional Resources
For further information about the various pool types (Stableswap, Weighted, and Metastable Pools) and the mechanics of Persistence DEX, please refer to the documentation on https://docs.persistence.one.
About Persistence One
Persistence One is building the BTCFi Liquidity Hub, enabling fast, near zero-slippage swaps for BTC, BTC-variants, and LSTs on Persistence DEX.
BTCFi’s rapid growth has created multiple BTC-related assets, making fragmentation a big challenge. Persistence One will provide a single liquidity hub, simplifying value transfer across the Bitcoin ecosystem.
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