AMA with Persistence

Introduction with Persistence

Riswan Rasheed:
Q1. Can you tell us about Persistence and with what goals was it developed ?

Madhur Satija:
Persistence is enabling exposure to multiple asset classes such as Liquid Staking (pSTAKE), NFTs (Asset Mantle) and Synthetics (Comdex). Persistence’s mission is to create an ecosystem of multi-chain Web3 products designed to stimulate global liquidity and enable seamless value exchange.

Persistence’s Core mainnet is a Proof-of-Stake chain powered by Tendermint BFT consensus engine. Persistence’s multi-chain tech stack (currently supporting Cosmos, Ethereum and other Tendermint-based chains) abstracts away the complexities for developers and enables them to create DEXs, marketplaces, lending/borrowing platforms etc.

For the 2nd part of the question. I’ll share an infographics for better clarity

Riswan Rasheed:
Q2. Can you tell us about pStake ?

Madhur Satija:
One of our most anticipated products is pStake, a liquid staking protocol for unlocking the liquidity for PoS assets locked within staking contracts.

This powerful product will officially introduce staked POS assets to DeFi allowing users to execute on a greater range of strategies whilst giving more utility to these tokens.

Get ready to unlock an ocean of liquidity with pStake Finance.

• Twitter: https://twitter.com/pStakeFinance
• Website: https://pstake.finance/

Madhur Satija:
Currently only $ATOM and $XPRT are listed on the platform. However within the coming days, we will be adding more ecosystm tokens to the list

To summerise:

pSTAKE is a liquid staking solution that unlocks the true potential of PoS tokens by unlocking liquidity for staked assets. With pSTAKE, Persistence is targeting to capture the $600B PoS assets market. Supporting assets such as $ATOM $XPRT $LUNA $SOL $ETH.

Riswan Rasheed:
Q3. What distinctive features does Persistence have that other competitors don't have?

Madhur Satija:
Well the greatest advantage for Persistence over the competition is the unique position of operating at the confluence of DeFi + PoS + NFT.

We have already built 4 products, namely:

1. pSTAKE - Liquid Staking solution targeting $600B PoS market with best returns and user experience for the PoS stakers.
2. Comdex - Decentralised Commodities Trading Protocol with more than $100 Million in Transaction volume and synthetics platform launching soon
3. AUDIT.one - Validator arm of Persistence.one with more than $300 Million worth of assets under delegation (biggest validator in South Asia)
4. Asset Mantle: NFT Marketplace framework which will allow any user to spin up their own NFT marketplace - Shopify of NFTs

Some of the other advantages are:

- One of the best validator set and highest staking ratio (84%) in the entire industry
- Strong partnerships with leading crypto foundations, protocols, networks as well as large traditional institutions.
- Persistence is building all layers - network, SDK and application layer which cuts down any external dependencies
- The token utility rewards all the $XPRT holders from the cash flow from all the applications in the ecosystem

Riswan Rasheed:
Q4. Can you shed some light on the utility of Persistence's Native Token and how are the holders rewarded ?

Madhur Satija:
The $XPRT token plays 3 keys roles:

1. Staking token (similar to other Tendermint based chains like Band, Kava, Terra, Iris)
2. Governance of the chain (not app)
3. Work token (stakers and delegators receive cash flows from the pStake and Comdex dApp as well as other dApps in the future)

The biggest advantage is as the Persistence ecosystem grows (we are already working on shipping multiple projects) the value of $XPRT will grow. Hence providing immense ROI for the XPRT holders.

If the community members are aware of Terra ($LUNA), Persistence's token utility and ecosystem is very similar to Terra where the $XPRT holders will gain incentives from the financial activity in the ecosystem.

For XPRT Staking:

Currently the XPRT holders can stake their assets to earn 35% APY.

For reference: If you stake 1000 XPRT [On Current average price: $9000], you will earn at least 350 XPRT over a year, with current token price that will be $3000.

Madhur Satija:
We are listed in these platforms right now. More listings are in pipeline

Riswan Rasheed:
Q5. What objectives are you planning to achieve by the end of 2021 ?

Last one in this segment

Madhur Satija:
High-level the roadmap can be seen here: https://persistence.one/roadmap

Some of the recent goals we have are as follows:

October 20: Support for $XPRT liquid staking on pSTAKE
October 20: Expansion of DeFi staking assets on pSTAKE

Community ask questions from Twitter

Riswan Rasheed:
I read that pSTAKE employs a unique mechanism called Stake LP. How does this mechanism work? And what makes Stake LP unique? What are its most important characteristics?
https://twitter.com/rapadict_/status/1448056630390706177?t=H_pTPSAmZpOIlFG4kSDpkQ&s=19

Madhur Satija:
pSTAKE employs a unique mechanism named Stake LP to enable protocol’s users to use their staked representative tokens (stkTOKENs) in DeFi products, and to be able to retain the staking rewards on their underlying staked assets, all the while generating additional yields from the Defi protocols.

For the user to earn both staking rewards and additional Defi yields, she needs to use her stkTOKENs only on a whitelisted Defi pool, and stake the LP tokens received from the protocol back on the pSTAKE application.

Riswan Rasheed:
Can you explain to me what "Staked representative Tokens" are? Why is this token so important? What role does it play in the Persistence ecosystem? Where can I get it?
https://twitter.com/rapadict_/status/1448056604721618948?t=jlcMVOUUuE42aDbReub6Zw&s=19

Madhur Satija:
Dual-Token Model :
pSTAKE uses a dual-token model to mirror the workings of its supported PoS networks. This model allows for multiple benefits such as:
• No forced auto-compounding allowing users to move around the staking rewards
• Market for users to freely use their wrapped unstaked tokens in DeFi protocols. For instance, a borrowing-lending protocol might have different LTV ratios for wrapped unstaked representative tokens as compared to wrapped staked representative tokens. This model allows a user to use both pTOKENs and stkTOKENs in DeFi protocols as per the users’ needs.
• A unique implementation of redemption pool that tackles issues such as Impermanent loss and Peg breakage between the PoS token and its liquid staked representative.

I hope this clears all your doubts

Riswan Rasheed:
Yes😊👍

pSTAKE uses a dual token model for its blockchain network operations. How does the dual token model work? What advantages does this dual token model offer? Why does Persistence use it?
https://twitter.com/LestmarisV/status/1448046973823688707?t=k1w-lEp6uAh1IF0XDnTw6w&s=19

Madhur Satija:
Well, the last answer covers it, Will put it again here though

Dual-Token Model :
pSTAKE uses a dual-token model to mirror the workings of its supported PoS networks. This model allows for multiple benefits such as:
• No forced auto-compounding allowing users to move around the staking rewards
• Market for users to freely use their wrapped unstaked tokens in DeFi protocols. For instance, a borrowing-lending protocol might have different LTV ratios for wrapped unstaked representative tokens as compared to wrapped staked representative tokens. This model allows a user to use both pTOKENs and stkTOKENs in DeFi protocols as per the users’ needs.
• A unique implementation of redemption pool that tackles issues such as Impermanent loss and Peg breakage between the PoS token and its liquid staked representative.

Community ask questions from Website

Riswan Rasheed:
In the persistence ecosystem there are two tokens: the $ XPRT token and $ pStake. Why did you decide to implement the use of two tokens within the persistence ecosystem? What is the usefulness of each token on the platform? Where can I buy each Token?

Telegram Username: @Josegamboac

Madhur Satija:
So the $XPRT token is more like the ecosystem token and $PSTAKE token is specifically for pSTAKE related tasks. And both have a very different use case

If the community members are aware of Terra ($LUNA), Persistence's token utility and ecosystem is very similar to Terra where the $XPRT holders will gain incentives from the financial activity in the ecosystem.

This is how the mechanism works overall for $XPRT

$PSTAKE’s TGE is yet to happen. However you can buy $XPRT from some of the trending exchanges in the industry

Madhur Satija:
Buy $XPRT on:
Huobi.com | Gate.io | Kucoin.com | AscendEx.com | app.osmosis.zone | dex.sifchain.finance | app.emeris.com

Stay tuned to our oddicial pSTAKE channel for $PSTKAKE TGE 😉

Riswan Rasheed:
The truth is that there is a large amount of liquid staking protocol today. What are the differentiating points that pStake adopts? Why should users use your protocol?

Telegram Username: @h1drX

Madhur Satija:
You are absolutely right and it's a really good question

So 3 of the Key Value Propositions are:

Dual Token Model: pSTAKE uses a unique dual token model to mirror the workings of its supported PoS networks. Staking rewards in pSTAKE are accrued in the form of pTOKENs (unstaked pegged representative tokens). This helps pSTAKE stay true to the core mechanism of its underlying PoS networks while resulting in a seamless user experience.

The dual token model also solves major problems arising due to the requirement for a constant balance token mechanism in some DeFi applications. Alternative complex solutions to a dual token model is the use of wstETH by LIDO

pSTAKE’s Redemption Pool is an innovative single token liquidity pool that allows pSTAKE users to instantly exit their staking positions while also creating a new unbonding token swap market. pTOKEN holders supply liquidity to the Redemption pool to earn a portion of the trading fee generated by the pool.

stkTOKEN holders can redeem 1:1 pTOKENs for their unbonding tokens by paying a fee for instant liquidity on their unbonding assets. The redemption pool also solves problems around Impermanent loss and peg breakage.

Users can stake their LP tokens issued to them by various DeFi protocols on the pSTAKE Stake LP contract (holder contract) to earn additional rewards in the form of $PSTAKE tokens.

This helps us incentivize users to use their stkTOKENs in other DeFi applications while also ensuring that they are able to claim their staking rewards

Riswan Rasheed:
Persistence allows exposure to multiple asset classes, such as Liquid Staking (pSTAKE), NFT (Asset Mantle), and Synthetics (Comdex). How through persistence they stimulate global liquidity and stimulate the exchange of value from multiple asset classes?

Telegram Username: @Josegamboac

Madhur Satija:
Well it's a very broad question. So it's better if i explain the role of persistence's XPRT token as all the value iflows to the token

The token plays 3 keys roles:

1. Staking token (similar to other Tendermint based chains like Band, Kava, Terra, Iris)

2. Governance of the chain (not app)

3. Work token (stakers and delegators receive cash flows from the pStake and Comdex dApp as well as other dApps in the future)

Live Questions answered by Persistence

1)S💥K💥B:
Do you have strong team to achieve ambition and vision? How well experienced team background do you have?

Madhur Satija:
So our entire team is from Tier 1 colleges in india namely IIT Bombay and VIT Vellore

Persistence is leveraging blockchain technology to facilitate seamless asset exchange. Using Web 3.0 protocols, Persistence aims to enable and create a suite of bleeding edge financial products in niches ranging from staking-as-a-service and tokenized real-world debt to digital art.

You can know more about our VISION and Mission here: https://persistence.one/vision

2)Am a Good Boy:
💥
IS This Your project only for elite investors, how about others with small funds, is it open to everyone?

Madhur Satija:
It is open to everyone'

3)Washbonx:
What are the functions of $SPRT and $ATOM.
I know that $ATOM is live curently,and $XPRT is set to come out on a later time.
Can you tell us what role does each of these tokens play in the pSTACK ecosystem?
And do these have any utilities outside the platform?

Madhur Satija:
So, currently we are focusing on building more utilities for stkATOM & stkXPRT. The sushi pool for stkATOM-Eth is already live and users can stake their tokens and can earn high APYs. More utilies will be released soon

4)Carlos Zamora:
Speaking of your native XPRT token, the only place it is currently tradable is on Houbi Exchange? Actually users will be able to earn up to 35% annual rewards by betting XPRT, on which platform? What other use cases does your token have besides staking?

Madhur Satija:
We are listed on multiple exchanges.

Here is the list

Huobi : https://www.huobi.com/en-us/exchange/xprt_usdt/
KuCoin : https://trade.kucoin.com/XPRT-USDT
Ascendex: https://ascendex.com/en/cashtrade-spottrading/usdt/xprt
Gate.io : https://www.gate.io/trade/XPRT_USDT

Decentralized Exchanges:
Osmosis: https://osmosis.zone/
Emeris: http://emeris.com/
Sifchain: http://sifchain.finance/

Currently users can earn rewards on these dexs for yields. Some of the stats are:

Osmosis: Pool APY Upto 227% ($XPRT/$OSMO)
Link : https://app.osmosis.zone/

Osmosis: Pool APY Upto 227% ($ATOM/$XPRT)
Link : https://app.osmosis.zone/

Emeris: Pool Rewards
Link: https://app.emeris.com/

Shifchain: Pool APY upto 300%
Link: https://dex.sifchain.finance/

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🎉Welcome 🎉 We are a community who eats, sleeps and drinks crypto 😉 Contact👇@cryptoTALK01 @UniqueBoyDK for AMA and project promotions♻️ decentralizedclub.net

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