Persistence is an interoperable protocol designed to facilitate the creation of next-generation financial products. The Persistence technology stack provides the infrastructure to effectively connect the DeFi domain and traditional finance in various fields, while supporting the creation of innovative encryption-oriented solutions to expand the DeFi and NFT fields.
Using DeFi functions and using NFT to tokenize real-world assets can solve the current traditional financial problems, thereby opening the floodgates and allowing new capital to flow into the crypto ecosystem. In addition, Persistence’s interoperable infrastructure provides a way to create an unlimited variety of cutting-edge encryption products that can provide unique opportunities in the DeFi and NFT space that the blockchain industry has never seen before.
Financial Products offered by Persistence
Persistence is building an ecosystem of financial products, focusing on both institutional and crypto-native use cases. This a brief review of some of the products and services currently live and coming soon to the Persistence economy.
COMDEX
Comdex is a commodity trading and trade finance platform for institutions and the flagship DApp in the persistence ecosystem. In terms of products, the Persistence team started by focusing on the commodity trading industry. The commodity trading industry is very old and unique, primarily because there are limited ways to create auditability, ensure trust, and provide liquidity. Comdex solves these problems through blockchain integration and has drawn attention. It has processed over US $ 55 million in transaction volume so far, bringing more assets to the chain than its (historical) competitors combined.
The Persistence team works with commodity traders in Singapore who are committed to creating a market called Comdex for commodity traders. The strategy is to work with family offices and SMB organizations that use their business network to drive adoption.
AUDIT.one
Audit.one is a subsidiary of persistence.one, which provides better verification services for major PoS networks through highly secure tier 3 and tier 4 data centers in multiple geographic locations using a multi-cloud architecture cluster. AUDIT.one was established in the second quarter of 2020 as one of the validators of the persistent ecosystem. AUDIT.one can not only help the Persistence chain, but also the entire PoS network ecosystem.
The verification infrastructure is quickly becoming an integral part of the broader PoS ecosystem. AUDIT.one currently manages more than $120 million in assets in nine networks (Cosmos, Terra, Matic Network, NEAR, IRIS, Kava, Skale, Marlin, and Celo) and is supporting other networks. These include Polkadot, Tezos, and Ethereum 2.0.
pSTAKE
pSTAKE allows PoS token holders to securely stake their network tokens through the pSTAKE app to earn commitment rewards while simultaneously receiving 1:1 linked stkTOKEN, representing compromised tokens on the Ethereum network, that can be used in the Ethereum DeFi ecosystem system.
Most people who are interested in PoS-based tokens believe in the long-term vision of these projects. It has been determined that gambling is more beneficial than just owning tokens; HODLers are constantly being diluted because new tokens are introduced into supply through block rewards allocated to mortgagers, essentially rewarding them for protecting the network. However, this long-term belief comes at the expense of liquidity. Betting positions are inherently illiquid.
Although stakeholders earn block rewards (usually called mortgage rewards) by participating in chain consensus and governance to provide network security, stakeholders cannot use their mortgaged assets for any other purpose because they are locked into the net. This is where the need for pSTAKE comes in. pSTAKE creates liquid pledged positions by issuing 1:1 tied proxies with pledged assets of its users. These committed representative tokens can then be used in various DeFi applications to generate additional revenue.
AssetMantle
AssetMantle is the framework of the NFT market. As a framework, this unique product provides all the necessary elements to create a single market. It also facilitate the creation (minting) of interoperable NFTs that can flow between different blockchains. AssetMantle can support a variety of NFTs, from digital art and collectibles to tokenized tickets.
AssetMantle allow the creation of dedicated marketplaces to select products from specific vendors or vendor groups. Although AssetMantle is also very suitable for creating agnostic markets, its unique value proposition is that anyone can create their own market. Think of it as “Shopify for NFT”; entrepreneurs and artists will be able to create their own Shopifystyle stores for their specific NFT assets instead of listing products on “Amazon for NFT” such as OpenSea. A major problem with today’s NFT market is that they are highly Ethereum-centric. As the broader crypto ecosystem continues to expand, the need for assets that can flow between different ecosystems becomes more and more important. AssetMantle is the solution.
AssetMantle is a by-product of the interNFT program of Persistence. Since the platform uses the interNFT module in the background, the NFT created through AssetMantle is interoperable, so it can be converted between the ERC721 standard and other native NFT standards in different chains; it can basically flow freely between different blockchains (for example, from Cosmos to Ethereum).
pLEND
pLend, an incoming project of Persistence, is a stable currency lending platform backed by real world assets (such as invoices). It will enable stablecoin holders to provide liquidity to the mining pool to support Comdex operations, so that stablecoin holders can earn returns on real-world income-generating assets. pLend will enable stablecoin holders to seamlessly participate in the $ 65 billion global trade finance industry. This is a huge leap in the bridge between traditional finance (TradFi) and DeFi. Stablecoin holders no longer need to rely on the unstable new DeFi protocol to generate attractive returns for their assets; now they will be able to tap into a profitable and reliable industry as old as the trade itself.
Final Thoughts
In conclusion, the Persistence products laid out above are just a taste of what is in store. Persistence is working to reach new heights in blockchain interoperability, bridging TradFi with DeFi through NFTs, creating new opportunities for the crypto community, and much more. Persistence is truly championing new financial frontiers in the crypto economy.
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