AMA Recap Crypto Library with Persistence

 

 
On 11th October 2021, Persistence conducted an AMA in the Crypto Library Community. Our guest is Madhur Satija. Lots of questions as usual from the Community about Persistence progress. The Persistence team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into Persistence.

Let’s take a look at the most interesting points of our conversation.

INTRODUCTION
Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?
 
Madhur Satija (Persistence) : I am Madhur Satija and take care of Marketing & Operations at Persistence. I joined the crypto world in mid 2017. I have more than 5 years of experience in Marketing, Growth Hacking and IT Solutions. In early days of my college I founded one of india’s leading Marketing Company 
(BeepWeep - https://Beepweep.com)

I have actively worked with some of the highly recognised companies & Governments like DAMAC, Reliance, PWC & Australian Government. I have been also been invited to multiple events as motivational speaker along this journey.

I came across persistence in end of 2020 and really related to the vision and here we are now!

FIRST SEGMENT (HOST)
Crypto Library Team : What is Persistence? and how does it work?
 
Madhur Satija (Persistence) : 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.

Persistence is also working on developing inter-chain NFT and Metadata standards along with leading Proof-of-Stake networks/foundations. Being one of the pioneers in Proof-of-Stake industry, Persistence also supports upcoming PoS networks through it’s validator arm AUDIT.one.

So for the 2nd part of the question, it's better to send an infographic.
Here you go:
 
 
Moreover specially for Crypto Library members, i will releasing a form in the end of this AMA, where few of the members can get a chance to win $XPRT
 
Crypto Library Team : What are the special features and advantages does Persistence want to offer?
 
Madhur Satija (Persistence) : The greatest advantage for Persistence is the unique position of operating at the confluence of DeFi + PoS + NFT.

We have already built 4 products, namely:
pSTAKE - Liquid Staking solution targeting $600B PoS market with best returns and user experience for the PoS stakers, product already released 
https://pstake.finance

Comdex - Decentralised Commodities Trading Protocol with more than $100 Million in Transaction volume and synthetics platform launching soon. Know more here:   
 
AUDIT.one - Validator arm of Persistence.one with more than $300 Million worth of assets under delegation (biggest validator in South Asia)

Know more: https://audit.one

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

 
Crypto Library Team : Please tell us about $XPRT and $pStake token! What are the tokenomic, and how to join the presale?
 
Madhur Satija (Persistence) : So, $XPRT is already listed on some of the Leading Exchanges in the ecosystem,
 

Tokenomics for $XPRT

For $PSTAKE, we will be relasing the tokenomics and presale details in coming days. However the airdrop is live.

You can check the live status here:
https://airdrop.pstake.finance

More details will be published soon here:
Telegram: https://t.me/pstakefinance
Twitter: https://twitter.com/pStakeFinance 
 
 
Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?
 
Madhur Satija (Persistence) : Currently our major focus is towards adding more utlity to $StkATOM holding. For example - $StkATOM Holders can earn HIGH Retroactive rewards when they provide Liquidity to $stkATOM-ETH pool on sushi
 
One of the major upcoming milestone is the $PSTAKE Token Launch. Once that it done we will focus on adding more networks in the pSTAKE application
 
You can try out our app here: 
https://pstake.finance
SECOND SEGMENT (TWITTER)
Crypto Library Team : Who are the validators available in your platform for delegating $XPRT? How is the cost and reward mechanism calculated?  please tell us briefly about the $XPRT staking program and how to participate?
 
Madhur Satija (Persistence) :
We have some of the best validators in the cosmos ecosystem.

To name few:
1. DokiaCapital
2. Cosmostation
3. GPool.io
4. BridgeTower
5. Figment

You can get to see the full list from here: 
https://www.mintscan.io/persistence/validators

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

Osmosis: Pool APY Upto 170% ($XPRT/$OSMO)
Link : https://app.osmosis.zone

Osmosis: Pool APY Upto 130% ($ATOM/$XPRT)
Link : https://app.osmosis.zone

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

Shifchain: Pool APY upto 400%
Link: https://dex.sifchain.finance

Along with that Huobi also launched Staking for $XPRT with offers upto 30% Rewards.

Learn more here: 
 
Crypto Library Team : pSTAKE uses a dual token model for its blockchain network operations. Why do you use this model and what are its advantages? Can you explain the role of each of these tokens in the ecosystem?
 
Madhur Satija (Persistence) : So, 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.

THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : BSC is really in trending now because it has low gas fee and high transaction speed. Have you any plan to move on BSC?
 
Madhur Satija (Persistence) : XPRT is a COSMOS based chain and the fees is low here too. Most of the times the transafer fees is 0. So i think this would answer your question
 
Crypto Library Team : Where can I buy your tokens now, what are your current contracts address and how can I buy them and what are the benefits?
 
Madhur Satija (Persistence) : 
Centralised Exchanges:
Huobi : 
 
Crypto Library Team : Do you have any plans to do airdrops and bounties to the users? How can we join them?
 
Madhur Satija (Persistence) : Yes. $PSTAKE airdrop is live. You can check the details here

Blog:
https://blog.pstake.finance/2021/09/10/pstake-airdrop

Airdrop:
https://airdrop.pstake.finance

 
Crypto Library Team : Reading your page I could see that you have a service or product called Comdex which allows to easily enter the synthetic assets market but could you explain me how this product benefits the Persistence ecosystem in general?
 
Madhur Satija (Persistence) :  
So the roles of the $XPRT are as follows:
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)

Hence, some part of the rewards are generated are passed on to the XPRT stakers
. That is how we offer 35% staking rewards
 
Crypto Library Team : Has your project been audited? how about the system, is your project safe from hacker and cheater?
 
Madhur Satija (Persistence) : Yes, we are audited. Here are the audit reports:
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