Understanding the keynote (use-case) of a crypto project will determine the depth of your investment with such project will be. Oftentimes, friends asked about the unique features of Persistence.One and it might look to many as a new project but I'm sure Cosmos is not a new project, since the launch of its mainnet in 2019, the project has been exceptionally ambitious in the realm of ambitious projects which positioned persistence.one in the same mission.
Cosmos is known as the Internet of Blockchain which is recognized as the most customizable, scalable, powerful and interoperable ecosystem of connected blockchains. Its blockchain is powered by Tendermint and other Byzantine Fault Tolerant algorithms, and this algorithm allows a blockchain to achieve consensus even in an environment that potentially contains malicious nodes.
Persistence is one of the Cosmos ecosystems that settled on Tendermint after a close study of Ethereum and Waves blockchain. Coingecko reveals Persistence as an interoperable protocol that provides sovereign environments to facilitate the creation of next-gen financial products, but how does this project set to do this?
The first mover is the launch of the utility token ($XPRT) that fuels the network. The use-case of the token ($XPRT) has linked multiple DApps and created opportunities for generating passive rewards via interaction with the DApps.
Furthermore, products launched alongside utility token are amazing. pStake been the liquid staking application for persistence connect with Ethereum blockchain to align with one of Cosmos characteristics of interoperability to unlock liquidity of staked assets on the ethereum blockchain to generate higher returns on their staked assets. There is other news around pStake like the introduction of $PSTAKE which gave $XPRT & $ATOM holders/stakers the opportunity to receive the airdrop. Read more
Global accessibility in finance is one of what persistence focuses on which led to the release of Comdex, a decentralized synthetic asset exchange built on Cosmos. The product is getting popular due to the recent announcement of the platform token $CMDX which $XPRT holders/stakers would be the first to receive it in their wallet in form of airdrop according to this tweet. Persistence has increased the adoption of the Cosmos network through the products built on the network and this has resulted in the upcoming event that will connect all the major projects on Cosmos together.
The event is slated for 22nd October 2021 with great speakers to enlighten participants on the unique features of the ecosystem which is tagged The Rise of Cosmos, proudly supported by Persistence.
The Rise of Cosmos Announcement
Highlight of Speakers
Persistence has been an ecosystem that is building financial products for both institutional and crypto-native use cases partnership with quality projects that enabled this mission is very important to the team. A check through the Persistence ecosystem reveals the list of validators, partners, and stake drop.
In conclusion, Cosmos is solving the hardest blockchain problems by tackling the lack of interoperability in the market and it's great to see Persistence built its hun on Cosmos hub.
Don't forget to register: The Rise of Cosmos and plan to attend.
Date: 22nd October 2021.
