Published on: 16 December 2020 11:29
Protocol Powering Institutional Decentralized Finance. One of the important parts of managing a ICONOMI Crypto Strategy is doing research and following new developments in crypto and Blockchain. One of the newer project that has excited us with potential is https://persistence.one.
The content below is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice.*
Disclaimer: CARUS-AR is a early investor in the Persistence project, the information in this article and in the video are our personal views and information only. We do no work for Persistence nor are we payed in any way for creating this content.
One of the important parts of managing a ICONOMI Crypto Strategy is doing research and following new developments in crypto and Blockchain. One of the newer project that has excited us with potential is https://persistence.one.
Below we give a overview of this project and why we think facilitating borrowing of cryptoassets using real-world assets as collateral could become a very exciting usecase for Decentralized Finance (DeFi) and Nonfungible Tokens (NFT).
Since the token of Persitence, XPRT, is not tradable yet we can not add it to our CARUS-AR Crypto Strategy yet, but we very likely will as soon as this is possible.
A project closely connected to the COSMOS ecosystem, Persistence bridges DeFi and traditional finance by facilitating borrowing of cryptoassets using real-world assets as collateral.
Persistence aims to feature:
Tokenize real-world assets using NFTs to bring them on-chain into the DeFi ecosystem
Cross-chain exchange of crypto and real-world assets (NFT marketplaces)
Invest/lend to a variety of diversified real-world asset-backed Stablecoin liquidity pools
The goal of Persistence is facilitating the end-to-end journey of the borrowing of cryptoassets using real-world assets as collateral. One of the main way to do this will be the the Comdex dApp, an institutional user-facing application providing a end-to-end commodities trade solution - trade discovery, trade settlement and trade financing.
What is impressive about all of this , is that COMDEX already has a very large Transaction Volume of $41M+ and has a projected transaction volume of $200M+ in 2021.
Have a look at the COMDEX website, a Decentralised commodities trading and trade financing platform.
Some of the aspects CARUS-AR looks for with Blockchain and Crypto investments is active development, a good use-case and a solid roadmap.
The roadmap for Persistence is extensive, shows very active development and very ambitious plans.
A few key features and events planned include: Token Generation Event, Mainnet Launch (dApp) (Comdex), Expand Exchange Listings; Wallet and Block Explorer Integration, Mainnet Launch and Persistence Native dApp Launch.
An exciting way to get your hands one a few XPRT (the crypto coin of the Persistence project) is the Persistence Stakedrop.
Persistence has allocated 1% of the total supply at genesis for Stakedrop.
1000000 $XPRT tokens will be distributed to stakers of some of the most prominent dPoS/nPoS networks. Networks included in the StakeDrop campaigns are: Cosmos Network, Terra, Kava Labs, IRISnet, Polkadot, Matic Network and Tezos.
The COSMOS (ATOM) and KAVA (KAVA) stakedrop have ended, Terra (LUNA) starting the 19th of December 2020.
The stakedrop is still starting for: IRISnet, Polkadot, Matic Network and Tezos. Read more about the Terra (LUNA) StakeDrop.
More information about all Persistence One Stakedrops can be found in this article.
interNFT stands for: Interchain Standards for Non-Fungible Tokens and Metadata. This open collaboration was initiated by the Interchain Foundation and is being facilitated by Persistence One together with ixo.
Metadata is what makes an NFT valuable, it is the glue between the token and the asset it represents. Improving both standards will help NFTs reach their full potential faster. As stated on the interNFT website:
"This Working Group believes in a future with many blockchains interoperating with one another, that includes NFTs going from one chain to another. By building common standards together we can make this happen faster."
As an investor it is always interresting to know about the projects other companies and institutions are investing in.
Persitance has some very impressive backers, and has raised $3.7M from Industry Heavyweights including:
CARUS-AR is an investment in cryptocurrency using the ICONOMI platform.
CARUS-AR does not guarantee any profits. Investing in cryptocurrency is a high risk investment.
Never invest more than you are prepared to lose.