Persistence (XPRT)

Liquid Staking and DeFi Integration

Persistence allows users to stake their proof-of-stake (PoS) coins and earn staking rewards while still using those staked assets in decentralized finance (DeFi) activities like borrowing, lending, and liquidity provisioning. This is done through its liquid staking protocol pSTAKE, which issues liquid tokens (stkTokens) representing staked assets, enabling users to keep liquidity and earn rewards simultaneously.

Real-World Asset Collateralization

Persistence bridges traditional finance and DeFi by enabling users to borrow cryptocurrency using real-world assets such as real estate or invoices as collateral. This allows access to liquidity without selling physical assets, facilitating institutional open finance and solving real-world financing problems.

Bitcoin DeFi and Cross-Chain Liquidity

Persistence focuses on improving Bitcoin finance (BTCFi) by creating a Bitcoin Liquidity Hub that enables fast, near zero-slippage swaps between BTC, wrapped BTC variants, and liquid staked tokens (LSTs) across different blockchains. Its intent-based cross-chain technology optimizes these transactions, reducing fragmentation and enhancing interoperability in the Bitcoin ecosystem.

Ecosystem and Governance

The native token XPRT is used for staking to secure the network, participate in governance, and bootstrap ecosystem applications. Persistence supports the development of DeFi applications and modular apps that build innovative use cases around staked assets, promoting network adoption and ecosystem growth.

Pros

• Persistence enables borrowing of crypto assets using real-world assets as collateral, bridging traditional finance and DeFi.
• It offers innovative financial services like liquid staking, allowing users to earn staking rewards while keeping assets liquid.
• The platform supports fast, near zero-slippage cross-chain swaps, especially for Bitcoin-related assets, improving liquidity and interoperability.
• Persistence uses advanced technology such as Tendermint consensus and Byzantine Fault Tolerance for robust security and network reliability.
• It has a strong focus on institutional open finance and aims to close financing gaps in industries like commodity trading.
• The ecosystem includes tools like SDKs for easy integration and development of finance applications.
• Persistence supports decentralized governance, allowing token holders to participate in decision-making.
• The project has a growing and experienced team with a global presence and strategic partnerships.

Cons

• Persistence One (XPRT) has experienced price declines and underperformance compared to the broader crypto market recently.
• The ecosystem and token value can be affected by market sentiment and supply-demand dynamics.
• Some features, like staking rewards, are inflationary, which may affect token value over time.
• The complexity of cross-chain and DeFi technologies may require users to have some technical understanding.
• Wallet options vary, and choosing the right one depends on personal preferences and needs, requiring user research.

Founders

The founders of Persistence are Tushar Aggarwal, Deepanshu Tripathi, Mikhil Pandey, and Hitesh Bhardwaj.

Key Individuals

• Tushar Aggarwal is the CEO and Founder, recognized for his leadership and vision in the crypto space.
• Deepanshu Tripathi is a co-founder and CTO, contributing to the technical development of Persistence.

Background

• Tushar Aggarwal started Persistence in 2019, building a team with strong expertise in blockchain and decentralized finance.
• The team is spread across Europe, the Middle East, and Asia, working on innovative crypto products and solutions.

Investors in Persistence

Persistence has attracted investments from several well-known venture capital and crypto investment firms. Key investors include Fenbushi Capital, Alameda Research, Binance Labs, FundamentalLabs, Multicoin Capital, NGC Ventures, Amber Group, and 6Eagle Capital. Additionally, Ternary Capital is also listed as an investor in Persistence. These investors support Persistence's development in decentralized finance (DeFi) and blockchain interoperability.

Halal Status of Persistence

Persistence is considered halal if the project itself complies with Islamic finance principles. This means it should avoid interest (riba), gambling (maysir), and activities involving prohibited items like pork or alcohol. The token should have a clear, ethical use case and transparency in its operations. Since Persistence is a blockchain project, its halal status depends on its adherence to these principles.

Reasoning

• Many scholars agree that investing in crypto is halal as long as the underlying project is halal.
• Persistence must be free from interest-based mechanisms and speculative setups with no real substance.
• It should have practical use in the economy and comply with Islamic ethical standards.
• Individual research or consultation with Islamic finance experts is recommended to confirm its halal status.

Answer: Yes, Persistence can be halal if it meets Islamic finance criteria.