What is Persistence One (XPRT)?

What is Persistence (XPRT)?

Persistence is a unique Layer-1 network based on Tendermint that is dedicated to powering DeFi applications. Its primary focus is to unlock the liquidity of staked assets, which it achieves by facilitating the issuance and deployment of liquid-staked assets. This allows users to earn staking rewards while also participating in DeFi primitives such as lending/borrowing and liquidity provisioning on DEXs. Persistence aims to provide a seamless staking and DeFi experience for PoS users while also enabling developers to build innovative applications around stkASSETs.

How does Persistence (XPRT) Work?

The goal of Persistence is to establish itself as a reliable hub for liquid staking. It aims to provide a smooth and cost-effective staking experience for users by empowering developers to create groundbreaking apps that revolve around liquid staked assets. The Persistence Core-1 chain makes it possible to issue and deploy liquid-staked stkASSETs, giving users the opportunity to earn staking rewards while engaging in DeFi activities like borrowing, lending, and liquidity provisioning on Decentralised Exchanges. Additionally, the core-1 chain facilitates the deployment of Dapps via Smart Contracts.

What makes Persistence (XPRT) Unique?

The platform's objective is to create customized app chains that focus on resolving security issues for businesses and the financial community. To ensure a fair and open marketplace, the platform has developed an SDK that enables organizations to perform KYC, trade settlement, and financing, as well as convert real-world assets such as bills of lading and letters of credit into cryptocurrencies.

What is the XPRT token?

The XPRT token serves as the governance token for Persistence, designed to facilitate on-chain governance and facilitate easy exchange. On-chain governance involves managing and implementing significant changes in blockchains. The XPRT token was distributed through StakeDrop, which involves distributing XPRT tokens to stakers.

Conclusion

Persistence has the objective of creating a more inclusive and efficient financial ecosystem by merging traditional finance with blockchain technology. It stands out in the evolving crypto industry due to its asset tokenization, interoperability, staking opportunities, and emphasis on security.