Persistence (XPRT)

DeFi Ecosystem and Staking

Persistence supports the development of a decentralized finance (DeFi) ecosystem by enabling innovative use cases beyond traditional DeFi. Its native token, $XPRT, is used to bootstrap ecosystem applications, promote network adoption, and secure the network through staking.

Asset-Based Lending and Real-World Asset Integration

Persistence allows users to borrow crypto-assets using real-world assets like real estate as collateral. It brings physical commodities on-chain as NFTs and integrates blockchain assets with real-world yield-bearing assets, enabling sustainable income streams.

Liquid Staking and Cross-Chain Use

Persistence specializes in liquid staking, allowing users to stake tokens on multiple proof-of-stake (PoS) networks and receive liquid staked tokens (LSTs). These LSTs can be used across various DeFi applications, unlocking liquidity and utility without losing staking rewards.

Bitcoin Finance (BTCfi) and Cross-Chain Swaps

Persistence aims to improve Bitcoin’s usability by enabling fast, no-slippage cross-chain swaps for BTC-related assets. It offers a decentralized exchange (DEX) for BTC and LSTs, liquidity pool opportunities, and other financial products to enhance Bitcoin DeFi.

Governance and Ecosystem Development

The $XPRT token also serves as a governance token, allowing holders to participate in network governance, validator roles, and the development of new use cases within the Persistence ecosystem.

Advantages

• Persistence enables fast and no-slippage cross-chain swaps for Bitcoin-related assets, helping unify BTC liquidity and improve ecosystem efficiency.
• It offers a comprehensive ecosystem for liquid staking across multiple Proof-of-Stake (PoS) chains like Cosmos Hub and Osmosis, increasing security and decentralization.
• The platform supports interoperability and composability between different networks and applications, fostering innovation and diversity in the crypto space.
• Persistence provides unique financial services such as borrowing cryptoassets using real-world assets as collateral, bridging traditional finance and crypto.
• It has a strong team and has been operational since 2019, with a growing ecosystem including decentralized finance (DeFi) applications like pSTAKE and Dexter.
• The use of advanced technologies like Cross-chain Intents and Tendermint consensus enhances security and user experience.
• Persistence supports network governance and validator roles, allowing community participation in development and decision-making.

Disadvantages

• Early usage of Persistence’s DEX V2 for Bitcoin cross-chain swaps has been modest, indicating challenges in competing with established Bitcoin Layer 2 solutions.
• Liquidity metrics and user adoption remain relatively low compared to competitors, which may affect trading volume and ecosystem growth.
• The price of the Persistence token (XPRT) has experienced significant declines over time, reflecting market challenges.
• The platform is still developing and expanding its user base, so some features and integrations are in beta or gradual rollout stages.

Founders

Persistence was founded by Tushar Aggarwal, Deepanshu Tripathi, Hitesh Bhardwaj, and Mikhil Pandey.

Background

Tushar Aggarwal is the CEO and a co-founder who started Persistence in 2019. He has a strong background in crypto, having worked with LuneX Ventures and hosted the Decrypt Asia podcast. Deepanshu Tripathi and Hitesh Bhardwaj are also co-founders involved in the technical and operational aspects of the project. Mikhil Pandey is listed among the founders as well.

Investors in Persistence

Persistence has attracted investment from a variety of sources. Some of the known investors include Bison Fund, BlackDragon (Zagreb), Block Infinity, CSP DAO, and DeltaHub Capital. These are part of a larger group of 21 investors who have supported Persistence through different funding rounds.

Halal Status of Persistence

Persistence is not explicitly listed in the available halal cryptocurrency lists or detailed Shariah compliance reports. However, the general guidance for determining if a crypto token is halal includes whether the project avoids interest (riba), gambling (maysir), and haram activities, and whether it has transparent, asset-backed, or profit-sharing models.

Reasoning

Since Persistence is not specifically mentioned in the halal or haram lists, its halal status depends on whether its project fundamentals comply with Islamic finance principles. Without explicit screening or certification, a definitive yes or no cannot be given based on the available information.