Persistence (XPRT)

Use Cases of Persistence

• Bitcoin Interoperability: Persistence enables seamless swapping and bridging of Bitcoin and Bitcoin variants across different blockchains without traditional bridging methods.
• DeFi on Bitcoin: It supports decentralized finance (DeFi) activities focused on Bitcoin, including trading BTC and liquid staking tokens (LSTs) on its decentralized exchange (DEX).
• Cross-chain Intents Technology: Uses advanced technology to improve user experience by enabling fast, low-slippage, and secure cross-chain Bitcoin transfers.
• Liquidity Hub: Acts as a liquidity hub for BTCFi tokens, allowing users to swap XPRT, BTC variants, and BTCFi tokens efficiently.
• Security: Transactions and operations are secured by Bitcoin’s network, ensuring high security and scalability.

Pros of Persistence

• Cross-chain interoperability: Persistence enables smooth asset transfers across different blockchains, including Bitcoin Layer 2s, using advanced technology like Cross-chain Intents.
• Bridges DeFi and traditional finance: It allows borrowing of crypto assets using real-world assets (like invoices) as collateral, connecting traditional finance with decentralized finance.
• Liquid staking and DeFi primitives: Users can stake assets and still use them in DeFi activities, earning rewards while maintaining liquidity.
• Robust consensus mechanism: Uses Tendermint consensus with Byzantine Fault Tolerance, ensuring network security and reliability even if some nodes fail.
• Growing ecosystem: Includes applications like pSTAKE (liquid staking), Dexter (interchain DEX), and AssetMantle (NFT marketplace), expanding use cases.
• Staking rewards: Offers attractive staking yields (around 17% reported) for users who participate in network security and governance.
• Decentralized governance: Token holders can participate in decision-making processes, enhancing community control.

Cons of Persistence

• Complexity for new users: The ecosystem and features like liquid staking and cross-chain operations may be difficult for beginners to fully understand and use.
• Market volatility: Like most cryptocurrencies, Persistence’s token price can be volatile, which may affect investment value.
• Operational challenges in staking: Running validator nodes requires technical expertise and constant uptime; otherwise, stakers risk losing rewards or facing penalties.
• Relatively niche adoption: While growing, Persistence is less widely known compared to major cryptocurrencies, which might limit liquidity and market presence.
• Dependence on ecosystem growth: The value and utility of Persistence depend on the success and adoption of its DeFi and cross-chain products.

For more details, visit Persistence official website.

Founders

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

Leadership

Tushar Aggarwal is the CEO and a key founder, recognized for his role in building Persistence and his inclusion in Forbes 30 Under 30 Asia.

Company Background

Founded in 2019 and headquartered in Singapore, Persistence focuses on bridging decentralized finance (DeFi) and traditional finance by enabling borrowing of crypto assets using real-world assets as collateral.

Investors in Persistence

Persistence has attracted investment from several well-known crypto and blockchain-focused firms. Some of the key investors include:

• Fenbushi Capital: A prominent venture capital firm investing in blockchain projects.
• Alameda Research: A quantitative cryptocurrency trading firm and liquidity provider.
• Binance Labs: The venture arm of Binance, one of the largest crypto exchanges.
• Fundamental Labs: An investment firm focused on blockchain technology.
• Multicoin Capital: A crypto investment firm specializing in tokens and blockchain companies.
• NGC Ventures: A global blockchain investment firm.
• Amber Group: A digital asset financial services provider.
• 6Eagle Capital: An investment firm active in the crypto space.

These investors support Persistence’s development and ecosystem growth, helping it build products that bridge DeFi and traditional finance.

Halal Status of Persistence

• Yes, Persistence can be considered halal if the project and its token comply with Islamic finance principles.
• The halal status depends on whether the token avoids interest (riba), excessive uncertainty (gharar), and involvement in prohibited activities.
• Islamic scholars generally say that cryptocurrencies are halal if they have real-world use, intrinsic value, and follow Shariah rules.
• Since Persistence is a blockchain project focused on interoperability and secured by Bitcoin, it may meet these criteria, but individual verification or consultation with a Shariah advisor is recommended for certainty.