Why Liquid Staking Will Be BIG in Cosmos Crypto? Persistence XPRT Deep Dive!

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0:00 – Intro
0:11 – Liquid Staking Growth
0:29 – Rise of LSTfi
0:45 – PersistenceOne Overview
1:01 – From RWAs to Liquid Staking
1:38 – DeFi Summer Impact
2:00 – stkATOM Launch
2:21 – IBC Native Solution
2:38 – Dexter Launch
3:01 – Persistence Team
3:18 – LSTs in DeFi
3:49 – AppChain Thesis
4:11 – Liquid Staking Module
4:47 – Persistence Milestones
5:53 – pStake Features
6:17 – stkATOM in DeFi
8:59 – XPRT Utility
9:54 – XPRT Tokenomics
10:45 – Outro

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Liquid staking and defi are going to merge this year liquid staking has been exploding over the past couple years and is now the biggest category measured by tvl with over $30 billion this is actually $10 billion more than the second rank which is lending and more than double than decentralized exchanges

Or dexas as a category within def5 the rise of liquid scking has been impressive and I think 2024 is going to be very big and very bullish for LST F liquid staking token Finance one of the top contenders and most OG teams and contributors in the cosmos space in that

Field is in fact persistence one persistence one is a cosmos based layer one blockchain that is optimized for exactly that with the mission to maximize liquid staking yield persistance one actually started in 2019 with the initial goal goal to build a platform for rwa real world assets

However at that time rwa weren’t as big it was way too early and there were a lot of concerns around regulation and just the overall technical overhead and complexities that’s why in 2020 they then pivoted over to liquid sticking as they recognized that number one users really want to earn yields on their

Locked assets and number two that the market for liquid sticking could be very very big remember that at that time we just came out of the defi summer in 2020 which really made def5 big in the first place and Lio just started to gain real traction P sck was then developed as the

First liquid sticking solution for atom on the persistance chain with the issuance of STK atom on the ethereum network this means that STK atom the first version was actually an erc20 token this product actually reached a tvl at the peak of more than $30 million us however at some point

They then noticed that they kind of want to go back to the roots and back to the cosmos defa ecosystem which started to really take off at that time which is why they they appreciated the erc20 version of SDK atom and launched an IBC native solution in January of 2023

Persistence is also building core D5 Primitives around their liquid Stak to economy which is also the core differentiator really to stride which is why in April of 2023 they then launched Dexter which is the native Flagship Dex home to the persistence one chain with the core mission to build out liquidity

For yield bearing assets or lsts and for stable tokens such as usdc or USD the core team behind persistence one is tusha agawal who has been also a frequent guest here on my channel he’s the f and the CEO over at persistence Labs then we have Mel who is the CSO and

Yoan who is the head of product the core mission of persistence one is to provide a secure infrastructure for decentralized applications to build an economy around liquid Stak tokens why is that important well because as proof of stake grows staking will become the per se fixed income in crypto lsts will then

Become the predominant medium of exchange and replace the native tokens in defi due to their Capital efficiency because up until liquid sticking really took off you always had to decide between staking or participating in Defi and with the rise of lstf you can actually do both persistence is also a

Strong believer in the up chain thesis which means that they think there will be much more chains in the future which means more adoption more demand more lsts and more LST D5 persistance is well positioned here because they actually have the technology ready and they have

Been in the game for a long long time so they are resilient and really veterans when it comes to liquid staking more recent Milestones have been that persistance one alongside stride have been actually the first two liquid sticking providers to support the liquid sticking module which was developed by

Zaki Manan from inclusion which lets users convert their already staked a ATS into liquid state atoms without having to first unbond so that really means users can bypass the 3-we unbonding period and have a much smoother interaction and usability of liquid staking persistance one is also the

First and only chain after the cosmos Hub that implemented the liquid staking module itself and more recently proposal 853 persistence is now also closely aligned with atom when it comes to liquidity 600,000 atoms were allocated after onchain governance approval from the cosmos sub community so that this

Atom could be allocated to Pake to increase liquid saking adoption and these atom were split up between providing liquidity on astroport on neutron as well as on Dexter which is home to persistence in addition persistant also acquired Astro tokens in order to participate in the upcoming astars on Neutron and they’re also

Exploring shared security Concepts to improve the security of the persistence one chain so they’re looking closely at Babylon chain which is bringing Bitcoin security to Cosmos as well as mesh security now let’s look at their two Flagship applications which are Pake and Dexter starting with Pake it is the

Cosmos Focus liquid sticking protocol on persistence that currently supports atom osmo but also BNB users can liquid stake those tokens with P stake to earn the staking rewards but also participate in defi so you don’t have to sacrifice yield and you don’t have to choose between the two you

Can do both at the same time there’s obviously a lot of SDK atom liquidity and pools across Cosmos dexas such as osmosis astroport but also Crescent Network and SDK atom is also used as collateral on Def ation such as interprotocol where you can mint your IST stable token or on mass protocol

Where you can lend out your SDK item and earn extra yield the traction so far is that PC reached a $10 million tvl and has more than 10 defi Partners across the cosmos ecosystem such as shade protocol osmosis nolos Umi and more stkd ydx and xer T are next up to be

Liquefied and especially dyx is interesting because if you stake your dyx today you’re not only earning dydx tokens but you’re also earning native usdc and through the Pake liquid staking solution this usdc actually gets swapped back into dydx and AOC compounded which really means you’re maximizing your

Yield two more unique features for pck include a flesh unsticking tool which means that you can immediately unstake your liquid stake tokens by paying a 1% fee and you also have automated validator delegation strategies that focus on network decentralization to increase the Nakamoto coefficient Dexter

On the other hand is the native Dex on the persistence one chain that is focused on yield generating assets and stable swaps to give an example if you want to swap 150,000 usdt for usdc you can go in Dexter and you only have a 0.025% price impact or slippage and you

Only pay 15 cents in fees Dexter also doesn’t have its own token instead it relies on XT as a default token for governance and liquidity incentivization Dexter currently supports lsts including STK atom but also stable coins usdc and USD as well as other tokens like DX Pake

And xer team some of the unique features for tter include a Traders rebate program for SDK atom Traders and instant LP unbonding by paying a 5% fee looking at some numbers so far Dexter has achieved $7 million in trading volume and $5 million in liquidity the aprs for

The atom and SDK atom pool but also for the usdc and usdt pool both are at 20% currently for each pool now let’s look at the xert token and its utility see similar to all Cosmos layo one blockchains out there the core utility for the xprt token is actually to number

One provide security for the chain which means you can stake it number two to pay for gas fees they’re currently 5,000 transactions per day and 1100 daily active accounts number three you can use it for governance in order to conduct chain upgrades parameter changes community pool spend proposals or to

Drive LST on persistence via Dexter and also number four to increase the traction by bootstrapping liquidity for lstf for example through LP incentivization on Dexter or to use xer as the base asset on Dexter itself the circulating supply for xprt is currently 194 million tokens which implies a $70

Million market cap persistance also went through a Hing in 2023 which has reduced the inflation rate for exper by over 60% since the Genesis in April of 2021 the current staking rewards are 14.8% while the inflation is at 12.5% and staking rewards currently include inflation and transaction fees

But there could also be Revenue share models for Dexter or Pake in the future most of the tokens have been unlocked there is one final unlock happening in March of 2024 so in roughly 3 months which unlocks 3.1 million xert tokens now to conclude persistence really is

One of the most OG teams that have been here on this channel for the past couple years regularly and they are one of the most committed and passionate teams around liquid sticking and to drive liquid scking adoption in Cosmos now stay tuned for the next video where I’m

Going to be sharing with you clear strategies and use cases on how you can actually maximize your yield in Cosmos def5 for liquid St tokens