Simply put, Persistence is the creation of an ecosystem of financial products, including debt financing, lending, DEXs, fixed income, etc. Persistence Bridges the gap between DeFi and traditional finance by facilitating lending of crypto assets using real world assets as collateral.
Dig a little deeper: Persistence is an interoperable protocol dedicated to facilitating the creation of multi-chain decentralized finance (DeFi) products that drive global liquidity and enable seamless exchange of value. The persistence technology stack provides the infrastructure to effectively connect DeFi and traditional finance in various domains, while also enabling the creation of innovative cryptocurrency solutions to extend DeFi and NFT.
Persistence operates in a fusion of NFTs + DeFi + PoS. The Persistence ecosystem has developed a whole set of financial products :
< Li >️Comdex: institutional-oriented commodity trading and trade finance platform with over $55 million in turnover;
- Audit. one: Staking- infrastructure as-a-service, currently with more than $250 million in assets under management;
- ️pStake: liquidity pledge products, unlocking the liquidity of pledged assets;
- ️pLend: stablecoin lending platform supported by real assets; < Li >️Asset Mantle: An interoperable NFT market framework that enables the creation of "Shopify style" NFT markets.
While the cryptocurrency ecosystem is currently growing rapidly, mass adoption and increased value will only occur when it has a practical use for cryptocurrencies. Originally, Persistence's approach was to introduce high-value real assets, such as business documents, title documents, and allow traditional businesses to use these as collateral to borrow staboins.How does
< Strong >Persistence help cryptocurrency users?
Persistence can provide interconversion with real assets. In addition, users can participate in asset classes that have always had high barriers to entry. Persistence can help traditional businesses access working capital and financing for their business operations.What is the development history of
While connecting traditional finance and DeFi, Persistence realized that cryptocurrencies themselves have many problems, such as illiquidity of pledged assets ($ETH, $DOT, $ATOM, $SOL, $MATIC, etc.). So we started working on the DEVELOPMENT of pSTAKE.
Currently, the core of all of Persistence's products is to make different asset classes (e.g. PoS assets, agricultural commodity futures) more accessible to the wider cryptocurrency community and bring them into DeFi. Another goal of Persistence is to increase the liquidity of mortgage assets.
Persistence the market pain points that Persistence aims to address include:
-- Improve accessibility. Assets that were previously available to only a subset of audiences/communities can now be made available to a global audience based on user profiles.
-- Improve the ease of exchange. At present, cross-chain asset exchange is very complicated and cumbersome. We are building Bridges between ethereum, Cosmos, Solana, Polkadot, Persistence, etc. We are also trying to bridge the gap between traditional finance and DeFi through products like Comdex.
-- Creating liquidity: In cryptocurrencies, asset collateral is a $600 billion-plus market with no liquidity. We hope to solve this problem through pSTAKE. In traditional finance, real assets can be used as collateral to take advantage of the abundant liquidity in cryptocurrencies (providing high returns for cryptocurrency holders).The existing products of the ecosystem include:
-- pSTAKE: pSTAKE is a liquidity collateral solution that unleashing the true potential of PoS tokens by unlocking the liquidity of collateral assets.
-- Comdex: Comdex is a decentralized commodity trading protocol that democratizes commodities through the agro synthesis Asset platform and trade finance app SHIPFI.
-- Audit. one: This is Persistence's validator division that focuses on supporting top-level PoS networks, including Cosmos, Terra, Polygon, SKALE, Celo, and others. Audit. one also provides institutions with a mortgage-as-a-service infrastructure.
We also have several projects and products under development in NFT, including interNFT.org and Asset Mantle.