It's Dawn at Persistence Network
It is indeed a new season for the Persistence community, especially after the record-breaking growth last month - August 2021. From the community newsletter recently released by Persistence, remarkable figures were released by this supercharged multi-chain blockchain infrastructure, painting growth and awareness across the streets of the blockchain. Below is a breakdown of the emerging growth on persistence networks.
Over 200,000 transactions were recorded on the persistence network with about 13,500 of its native token’s wallets, $XPRT created. Recall that PSTAKE is one of Persistence's major programs. So August 2021 drove a 10x increase in the Total value locked, TVL on PSTAKE; Statistically, from $250,000 to $2.30million between 1st and 29th, August.
Persistence’native token $XPRT goes about making a good impression too. One of those was at Osmosis decentralized exchange; with trading pairs, XPRT/ATOM and XPRT/OSMO, about $35million was recorded in TVL.
Following the above development, in addition to other community campaigns and engagements, Persistence caught the attention of popular media outlets like Cointelegraph and DeFi Time and made it to their online publications.
That was Persistence and August 2021 as recorded in the recent newsletter, now let’s see what is new on Persistence.
Announcing Webinar
Persistence is glad to announce its participation in the upcoming Amazon web service blockchain webinar. Starring in the webinar is Persistence’s CEO and co-founder so you do not have to miss the event for any reason.
This Webinar will feature discussions on cryptocurrency Exchanges on Wednesday, September 29th, Decentralized Finance on Wednesday, October 20th, and Non-fungible tokens, NFTs on Wednesday, November 3rd. Sign up here to reserve a space.
pSTAKE launch, rallies, and campaign
pSTAKE is done being available on the testnet alone, available now on the mainnet, PSTAKE is now live and running. Users can now stake $ATOM to receive $stkATOM and then get ready to provide liquidity on ethereum network and other DeFi protocols. Users can participate in the staking pool on Sushiswap liquidity pool by staking their LP tokens on PSTAKE to receive staking rewards +LP rewards.
PSTAKE has earlier announced an airdrop session, a distribution that will take about 6% of the total $PSTAKE token supply. A snapshot has been token since September 2nd, 2021 and that will serve as evidence and yardstick for user participation.
Eligible beneficiaries of this airdrop include holders of $XPRT and $ATOM, early $PSTAKE adopters, some DeFi protocol users, and Cosmos stakedrop participants. Click here for the airdrop distribution in detail.
Still, on Pstake, the Uncapped version of $ATOM has now been released. This is an exciting development as users can now deploy all their $ATOM on $Pstake. They will continue to get DeFi yields on the Ethereum network by staking.
About pSTAKE
pSTAKE is one of the major arms of the Persistence network with a dual token model. In context, this implies that Pstake offers a 1:1 pegged representation of users' staked tokens. This allows users to still make use of their staked assets for other purposes while also having it staked on the Persistence network.
The dual token model is meant to address issues faced by users who provide liquidity for networks and get restricted to use their assets for other purposes.