Persistence One Ecosystem – Connecting Traditional Finance to Crypto
The Persistence ecosystem aims to connect traditional finance to crypto, with a diverse set of products and a huge array of backers and partners.
In recent times, ecosystems have continued to grow strongly, with the continuous launch of packages to support the development of the system. Ecosystems move very quickly, with many impressive strides.
To help you catch up with an ecosystem that has experienced relatively impressive growth in recent times, in this article, I will walk with you through the Persistence One ecosystem and answer the following questions:
- What arrays are on Persistence One?
- What stage is the Persistence One ecosystem at?
- Look for investment opportunities and projections of the Persistence One ecosystem.
Persistence One overview
What is Persistence One?
Persistence One is a Blockchain located in the Cosmos ecosystem. Persistence’s goal is to create an ecosystem of financial products for both retail investors and large financial institutions.
The product suite that has been and is being developed by Persistence includes: pStake (a liquidity generator for staking), Asset Mantle (NFT marketplace), AUDIT.one (staking support tool), pLend (interactive tool). debt) and Comdex (decentralized commodity exchange).
Highlights of Persistence One
Products in the Persistence ecosystem include:
- Comdex: Comdex is a decentralized commodity trading solution for businesses, covering the entire transaction process including buyer/seller connection, transaction confirmation and payment.
- pStake: This product helps to unlock staking liquidity on chains operating under Proof-of-Stake mechanism, thereby helping users to increase profit opportunities from staking tokens.
- AUDIT.one: This is a product that provides a staking solution (Staking-as-a-Service). The company provides staking solutions for companies and investment funds, and currently supports over $250 million in assets across more than 10 different networks.
- Asset Mantle: NFT Market supports users to create their own NFT stores. Allows NFTs in different networks to be transacted, from electronic paintings, tickets, music,…
- pLend: pLend is a DeFi stablecoin product created from collateralizing real world assets.
The products in this ecosystem I will talk more about in the next part of the article.
Outstanding parameters of blockchain Persistence One (November 19, 2021):
- Block height: 3,545,732.
- Average block time: 5.83s.
- Chain ID: core-1.
- Total number of validators: 109.
- Number of active validators: 75.
- Wallet number: 20,386.
- Transaction number: 485,246.
- Number of proposals: 1.
- Marketcap: $420 million.
- Total Supply: 120,992,708 XPRT.
The parameters can be monitored in the explorer of Persistence One.
History, current situation and roadmap
Persistence One has gone through a development path that is not too long, but has many memorable milestones:
- March 31, 2021: Persistence One’s XPRT token IEO on Ascendex.
- November 16, 2021: Persistence’s pStake product received $10 million investment from many large funds including 3AC, DeFiance Capital, Alameda Research, Coinbase, Sequoia, Galaxy Digital,…
Project investors and partners
Persistence One is invested by many big funds in the market: Terra, Tendermint, IOSG, Interchain, Alameda Research, Arrington XRP Capital, Spark, LedgerPrime,…
Currently, Persistence One has many partners as validators for their platform, including many famous validators: Dokia Capital, Cosmostation (wallet on Cosmos), Band Protocol, Figment, StakeWithUs, P2P, Everstake,…
Persistence One Ecosystem Overview
An overview of the products on Persistence One has been introduced by me above. Let’s take a deep look at Persistence’s product range. Currently, the Persistence One ecosystem only has products built by this team.
Comdex is a project for creating synthetic assets on Cosmos. Currently, the project has released the CMDX token but has not yet released a product, and is introduced to include the following functions:
- Synthetic Assets: Create synthetic assets from conventional financial assets.
- Synthetic Exchange: AMM DEX for synthetic assets.
- Tokenization: Tokenization of real-world assets on-chain.
- Lending: Using assets as collateral to borrow other assets.
With the goal of creating an ecosystem of DeFi and CeFi connectivity solutions, Comdex allows users to collateralize assets from on-chain to off-chain for access to a variety of synthetic assets.
Currently, the products in the Comdex ecosystem include:
- Comdex: Synthetic asset product, is the main product of the project. Currently the product has not been released and has not been used.
- Enterprise Trading: Exchange of ownership of real-life assets on Persistence SDK. The product is now out and has been used by companies, as of September 28, the platform has a volume of $ 160 million and supports 18 different businesses large and small in Southeast Asia.
- ShipFi: Protocol supports the digitization and exchange of debt ownership in the commodity trade. Currently this product has not been released, is in the development stage.
As can be seen, Comdex targets the synthetic segment and targets corporate users and targets the traditional financial market with the total market capitalization of the synthetic assets and derivatives market reaching 190 trillion dollars.
However, because the products are only accessible by businesses and have on-chain data that cannot be closely tracked, I cannot further analyze the success of this product.
The project announced they have 100 million trading volumes by 35 businesses, and will soon launch Comdex Synthetics product.
Audit One is a multi-blockchain staking solution product, an enterprise-grade infrastructure application for blockchain PoS networks. To make it easy to understand, Audit One is a project specializing in making validators that run nodes on PoS networks.
In the near future, this product will support Polkadot, Tezos, Ethereum, Cudos,… As you can see, Audit One’s main customers are blockchains in Cosmos such as Terra, IRISnet, Injective,… Currently Currently, there are 250 million USD of assets delegated to Audit One validators on 15 platforms.
To evaluate the effectiveness of Audit One, I will take a look at the rank of Audit One validator on the networks where they run nodes:
- Cosmos: Validator ranked 56/162, aiming to hold 0.28% of total staking, with 300 delegators (7% fee);
- Skale Network: Validator ranked 39/52, holds 20 million delegated SKALE (10% fee);
- Terra: Validator ranked 83/130, aiming to hold about 0.4% of total staking, with 1.3 million LUNA delegated;
- Near Protocol: Rank 42/156 Validator, aiming to hold 4 million NEAR staked by 252 delegators;
- Celo: Rank 72/86 Validator, aiming to hold 10,356 CELO staked by delegators;
- Polygon: Validator ranked 16/91, aiming to keep 16,548,102 MATIC staked by delegators (7% fee);
- Kava: Validator ranked 39/100, aiming to keep 0.19% KAVA staked equivalent to 167,000+ KAVA by delegators (7% fee);
- IRISnet: Validator ranked 13/115, aiming to keep 2.19% of IRIS staked by delegators (7% fee);
- Akash: Validator ranked 68/85, aiming to hold 0.41% of AKT tokens staked equivalent to 506,437 tokens by delegators (7% fee);
- Elrond: Validator ranked 40/445, aiming to hold 31,000+ tokens staked by delegators;
- Injective, Marlin: No information found.
Comment: As you can see, Audit One is also one of the relatively popular validators, although not widely recognized by delegators. The project user file is still relatively small, and the number of delegates on each platform is not much.
pSTAKE Finance is a project to deal with the liquidity problem of staked assets, helping to unlock liquidity for these assets (similar to Lido Finance and Metapool). Currently supported assets include: ATOM, XPRT, coming soon next supported assets are ETH, LUNA, SOL, AKT.
This staking solution has just successfully raised $10 million from many large investment funds including 3AC, Sequoia, Galaxy Digital, DeFiance Capital,…
The project has been audited for several items by Solidified and PeckShield. Currently, the project’s TVL amount is $32 million, with nearly $19 million in the stkATOM – ETH pool and more than $11 million in the stkXPRT – ETH pool.
PSTAKE tokens are airdropped to XPRT holders, and early entrants get to use and support the evolving protocol.
pSTAKE will be launched on Alpha Finance Launchpad in the near future. This is one of the first projects launched by this Launchpad, and the first IDO project, Beta Finance, has been relatively successful.
Asset Mantle is an NFT market project built on PersistenceSDK. Currently, the project is running testnet and has not issued tokens yet. You can try using the product, there is a possibility to receive the project’s airdrop for early supporters and users.
This is a marketplace for NFTs about art and collectibles. Currently, the project has received 420 requests to participate in the testnet, and there are no specific performance data, so I cannot evaluate it further.
You can try the product here.
InterNFT is a project about NFT Marketplace cross-chain between multiple networks. The networks the project intends to support include: Persistence, Interchain, Polkadot, Kusama, Centrifuge, Akash, Sentinel, IRISnet, Secret Network,…
Currently, the project has not released products on any network, so it is not possible to assess the level of success.
However, looking at the project, I see that the networks with the biggest explosion of NFT are not supported by the project (such as Ethereum, Solana, BSC, Polygon), so perhaps this is a project that serves the owner. weak NFT in the Cosmos and Persistence systems.
When I “skin-in” the Persistence ecosystem, I found that the projects in the system are mainly not released yet, not yet the mainnet, and the user files of the projects are relatively small.
However, the backer and partners of the project are not small but extremely remarkable. For example, pSTAKE Finance’s backer array includes many large investment funds, pSTAKE was launched on Alpha Launchpad – a relatively large launchpad.
Therefore, I think this is an ecosystem worth paying attention to, considering and exploring investment opportunities.
You should pay attention to products that have not yet issued tokens and have products to test and use, and pay attention to the development moves of the project team to become an early supporter for the project – this is also a way. Make a profit in the extremely good market.
Hopefully, through the above article, you have had a better overview of Persistence’s product ecosystem, and started looking for investment opportunities on the Persistence ecosystem.
What do you think is the next direction of the Persistence ecosystem development team? Which ecosystem overview do you want to learn about next? Please comment below the article to let idolmeta.net know!