pSTAKE for Cosmos and Interchain DEX Is Launching on Persistence Core-1 Chain

pSTAKE, the liquid staking protocol of Persistence, and Dexter, a DEX for liquid-staked assets, announced its plans to launch on the Persistence Core-1 Chain in the coming months. Persistence, the Tendermint-based, specialized layer-1 network, is the liquid staking hub for the Cosmos ecosystem.

Since 2019, Persistence has been an active member and contributor to Cosmos, eventually becoming its primary liquid staking hub. A year ago, Persistence first launched liquid staking for Cosmos (ATOM) with pSTAKE. Subsequently, the total value locked (TVL) in pSTAKE surpassed $50 million at its peak.

The growth of Cosmos’s DeFi ecosystem has led to the decision to launch pSTAKE on Persistence’s Core-1 chain to natively issue stkATOM. Initially, the Core Chain will support liquid staking for ATOM, followed by other Cosmos assets like OSMO and XRPT.

Additionally, the Interchain DEX for liquid-staked assets will also launch on the Core Chain. The DEX is the first of its kind DeFi primitive in Persistence’s liquid staking ecosystem with several unique features.

Apart from supporting liquid-staked assets, the Interchain DEX will support multiple pool types like a constant product, weighted pools, stable swap invariant, metastable, 3-pool, and 5-pool. Users can decide the deployment of each smart contract-based pool type on the Persistence Core-1 Chain via protocol governance. The DEX also provides a flexible interchain architecture and a friendly user interface for creating new pool types.

Persistence: Creating A Bridge Between PoS Assets and DeFi

In February 2022, Tushar Aggarwal, CEO & Founder of Persistence, shared his vision for building a DeFi ecosystem around liquid-staked assets. The protocol enables additional yield generation over and above staking incentives, thereby enhancing the capital efficiency of PoS assets.

Persistence facilitates the issuance and deployment of liquid-staked stkASSETs, with PoS users simultaneously earning staking rewards and participating in DeFi primitives like DEXs. Aggarwal said, “Through a range of applications and integrations bridging the PoS and DeFi verticals, we will drive use cases for stkASSETs.”

Persistence’s Core Chain is the layer-1 for liquid-staked assets, while pSTAKE is the on-chain asset issuance layer for issuing stkASSETS. Persistence has made significant progress in becoming the liquid staking hub with over 100 validators, 45K user wallets, and 20K+ stakers.

Audit.one is simplifying staking within Persistence, expanding its support to over 25 networks, and launching validator nodes on Ethereum and Solana. In the future, the Persistence ecosystem will be able to support liquid-staked assets from multiple protocols like  Stride, Quicksilver, and Lido. The Persistence team is also building other applications for diversifying use cases in Money Markets, DeFi Options Marketplace, Yield Aggregators, and Vaults.

On the other hand, the Persistence Foundation is focussing on developing utilities for XRPT, the Persistence ecosystem’s token. The Foundation is responsible for XRPT management by maintaining liquidity, ensuring incentivization, and expanding its reach.

Similarly, Persistence Labs is managing product development, building applications, and other tools for the growth of the Persistence ecosystem. The Lab members maintain the Persistence Core-1 Mainnet/testnet and closely work with the pSTAKE team.

The Persistence DAO will further decentralize the network and help projects gain traction through incentivization. Similarly, the Community DAO will support community initiatives like educating people, organizing events, and bounty programs.

Persistence has a lot of launches and activities in the coming months to become the ultimate liquid staking hub for maximizing the capital efficiency of all PoS asset holders.

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