Persistence AMA Recap

31 Aug 202011:08

AMA

Persistence AMA Recap

Cryptodiffer Team

Hello, everyone!😁

We are glad to meet here:

Tushar Aggarwal, CEO and Co-founder, Persistence (@tusharaggarwal)

Abhitej Singh, Strategy and Community, Persistence (@abhitejsingh)

Abhitej Singh

Hello guys,

Excited for the AMA!
Looking forward to all of the exciting questions.

Cryptodiffer Team

Welcome Tushar and Abhitej , thank you for taking your time today!

Tushar Aggarwal

Hey guys,
Nice to be here!

Cryptodiffer Team

Our team has prepared 3 questions for you to start with!
Let`s start with the introduction !

Q1: Can you introduce yourself to our community?

Tushar Aggarwal

I started my career in the Blockchain/Crypto industry hosting the Decrypt Asia podcast (https://decrypt.asia/) and writing extensively about Blockchain/Crypto on Tech in Asia.

Then I joined as the first employee at Singapore based LuneX Ventures (Crypto arm of a Traditional VC Golden Gate Ventures - https://goldengate.vc/). Seeing an opportunity to contribute more to the ecosystem by being a founder versus an investor and bringing institutional capital into the industry, I started Persistence in Q2 2019 and we came out of stealth in January 2020.

Abhitej Singh

Hello Everyone,

I am Abhitej Singh and I take care of Strategy and Community at @Persistenceone. My introduction to Crypto was in 2016-2017 while I was travelling across different parts of India and the US. I was very fascinated by the core characteristics of Crypto and Blockchain in general - ownership and transparency. So, after initial introduction I jumped into Crypto completely in late 2018.

Before joining Persistence, I was helping a couple of early stage startups (now backed by Ola and Livspace - unicorns in India). I was also actively involved building communities for Google, facebook and co-founded national hackathon in India called Code2Create.

I met Tushar and Deepanshu in 2019 at a Blockchain Conference and really liked the vision they had and joined them back in November 2019. Here we are building @PersistenceOne.

I also co-founded Cosmos India with Tushar and Deepanshu.

Learn about our journey so far: https://www.youtube.com/watch?v=bPHOZPsoEnQ

Cryptodiffer Team

Perfect, thank you guys!
Let's talk about Persistence now:)

Q2: Can you introduce Perisistence One to our audience?

Abhitej Singh

Sure thing
Persistence is an interoperable protocol built to facilitate the creation of next-gen financial products. The Persistence tech stack provides the infrastructure to effectively bridge the realms of DeFi and traditional finance in a variety of areas, whilst also enabling the creation of innovative crypto-facing solutions to expand the DeFi and NFT sectors.
Persistence is operating at the confluence of NFTs + DeFi + PoS Staking. We have already developed a full suite of financial products:

♦️Comdex: Institutional-facing commodities trading and trade financing platform. Handled over $55M in transaction volume.
♦️AUDIT.one: Staking-as-a-service infrastructure. Currently over $200M in assets under management.
♦️pStake: Liquid staking product unlocking liquidity of staked assets.
♦️pLend: Stablecoin lending platform backed by real-world assets.
♦️Asset Mantle: Interoperable NFT marketplace framework, enabling the creation of ‘Shopify-style’ NFT marketplaces.
Learn more about our mission and product ecosystem here: https://buff.ly/2NWnFE3

Cryptodiffer Team

And now the most interesting question since we know that you are about to launch:)

Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

Abhitej Singh

So much to share there as we have been building since 2019 but I will try to compress everything.
Some of the key achievements will be:

1. Strong partnerships with leading protocols, networks and walets (listed below)

2. Expanded team to 20+ members

3. ICF awarded grant to Persistence to develop inter-chain NFT standards and we are leading the global working group which includes Polkadot, Kusama, Secret Network, Keep Network, Cosmos etc

4. Launched AUDIT.one [$250 Million in total assets under delegation] and Comdex [$55 Million in total transaction volume]

5. Launched StakeDrop with 7 networks - Cosmos, Polkadot, Tezos, Terra, Kava, Iris and Polygon and already have 3000+ participating who have staked more than $1 Billion worth of assets to earn $XPRT tokens.

6. Onboarded world's best validators securing $5B+ assets collectively including but not limited to stakefish, Dokia Capital, P2P Network, Figment, Sikka

Read about our journey so far: https://buff.ly/395mpp2

Abhitej Singh

Partnerships:

Ecosystem:

1. Terra: https://medium.com/persistence-blog/terra-and-persistence-announce-partnership-to-drive-adoption-via-a-token-swap-and-community-677df3d0f6e0

2. Interchain Foundation: https://medium.com/persistence-blog/persistence-one-first-to-implement-interchain-native-nft-transfer-bags-icf-grant-cdb6c3856c25

3. Razor Network: https://medium.com/persistence-blog/persistence-partners-with-razor-network-to-strengthen-both-parties-e92e538ad4b4

4. Kava: https://twitter.com/kava_labs/status/1357630049906794496?s=20

AUDIT.one:
1. Tendermint: https://medium.com/persistence-blog/tendermint-to-delegate-595-000-atoms-to-persistences-audit-one-97ddb47e01db

2. Polygon (Previously Matic Network): https://blog.matic.network/matic-network-validator-advisory-board-overseeing-the-advancement-of-a-secure-and-healthy-network/

3. Skale: https://skale.network/blog/validator-list-for-skale/

4. Injective: https://buff.ly/2ZtasW4

5. Marlin: https://twitter.com/PersistenceOne/status/1339917327194857473

StakeDrop:

1. Trust Wallet: https://community.trustwallet.com/t/persistence-one-1000-in-xrpt-giveaway/85990

2. Cosmostation: https://medium.com/persistence-blog/cosmostation-wallet-adds-3-step-registration-for-persistence-stakedrop-a1223703c490

3. StakingReawrds: https://medium.com/persistence-blog/additional-20-000-xprt-is-up-for-grabs-as-persistence-partners-with-the-staking-rewards-team-d1b21aa092ac
We aim to become the largest suite of financial products (Both crypto-native and institutional applications).

We are already on a great start with Comdex, pStake, AUDIT.one, Asset Mantle and pLend. But this is just the start.

You can find all our upcoming updates in our latest roadmap: https://persistence.one/roadmap

But some of the key updates will be:

Token Sale: March 2021
Mainnet Launch: Q1 2021
pStake Launch: April 2021
Asset Mantle launch: Q2 20201
Exchange lisitings and token staking: Q2 2021
/Done

Cryptodiffer Team

Perfect!
Thank you for such detailed and interesting answers!
It is time to move to the community questions part.

Cryptodiffer Community

How does persistence plan to enable users to interact with both traditional and digital assets in an open and global context?

Abhitej Singh

Using the features of DeFi and utilizing NFTs to tokenize real-world assets can solve the current problems of traditional finance, thus opening the floodgates to allow a torrent of new capital into the crypto ecosystem.

In addition, Persistence’s interoperable infrastructure provides the means to create an endless array of cutting-edge crypto-facing products which can offer unique opportunities within DeFi and the NFT space that have never before been seen in the blockchain industry.

We also partnered with the digital arm of a billion dollar swiss asset management fund, Tavis Digital, to bring institutional staking and DeFi to institutional investors.

Learn about our product suite: https://blockspaper.com/vi/a/how-persistence-is-ushering-in-a-new-era-of-next-gen-financial-products-a06e5d57c72b

Cryptodiffer Community

Can you indicate a feature or feature that Persistence like best about the platform so that it can compete with other competitors? What are you most confident about for your platform? Do you have plans to get users to choose your platform?

Abhitej Singh

[In reply to Hoàn Nguyễn]
As I mentioned, the greatest advantage for Persistence over the competition is the unique position of operating at the confluence of PoS + NFTs + PoS staking.

We have already built 4 products, namely:

- Comdex - Decentralised Commodity Trading Marketplace with more than $55 Million in Transaction volume
- AUDIT.one - Validator arm of Persistence.one with more than $125 Million worth of assets under delegation
- pSTake - Liquid Staking platform with best returns and user experience for the PoS stakers
- Asset Mantle: NFT Marketplace framework which will allow any user to spin up their own NFT marketplace - Shopify of NFTs

Some of the other advantages are:

- One of the best validator set in the industry
- Strong partnerships with leading crypto foundations, protocols, networks as well as large traditional institutions.
- Persistence is building all layers - network, SDK and application layer which cut down on any external dependencies
- The token utility rewards all the $XPRT holders from the cash flow from all the applications in the ecosystem
A lot of influencers and industry pioneers have been closely looking at Persistence and in touch with us.

The same can be seen in the list of advisors on our website, we have onboarded some of the most recognised faces in the crypto as well as institutional space.

One of the video I could fetch to show the hype among the influencers: https://www.youtube.com/watch?v=MuY3073171Q
But outside of this Persistence has been listed as one of the most anticipated projects by multiple media outlets and influencers.
Please feel free to indulge on our official channels for that:

Telegram: @PersistenceOne
Twitter: https://twitter.com/PersistenceOne
I understand completely and you don't need to worry.

Persistence is coming up with it's token sale next week and we will be sharing all the details regarding the same in our official channel on weekend or early next week. Keep and close eye on the same.
You can join here: https://t.me/PersistenceOne
The token plays 3 keys roles:

1. Staking token (similar to other Tendermint based chains like Band, Kava, Terra, Iris)

2. Governance of the chain (not app)

3. Work token (stakers and delegators receive cashflows from the pStake and Comdex dApp as well as other dApps in the future)

Cryptodiffer Community

What matters to most investors is the token value. How will you make the value of your token attractive? Or how will you explain your value to investors?

Abhitej Singh

Please refer this message: https://t.me/c/1496936810/205810

Cryptodiffer Community

Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?

Abhitej Singh

We already have built more than 5 products before our token launch itself and we have more under development in the background. This is a statement about our capabilities to deliver and ship high-quality products.

Persistence is operating at the confluence of NFTs + DeFi + PoS Staking. We have already developed a full suite of financial products:

♦️Comdex: Institutional-facing commodities trading and trade financing platform. Handled over $55M in transaction volume.
♦️AUDIT.one: Staking-as-a-service infrastructure. Currently over $200M in assets under management.
♦️pStake: Liquid staking product unlocking liquidity of staked assets.
♦️pLend: Stablecoin lending platform backed by real-world assets.
♦️Asset Mantle: Interoperable NFT marketplace framework, enabling the creation of ‘Shopify-style’ NFT marketplaces.
You can find more about our work already done on our website: https;//persistence.one
We are not only developing products but also standards for the entire industry to use and interNFT.org is just one of the examples.

Cryptodiffer Community

you want to facilitate financial exchange as an interoperable platform but do you have plans to create your own native token?

Abhitej Singh

We are coming out with our native token $XPRT launch next week. Stay tuned on our announcements channel https://t.me/PersistenceOne for the same.

Cryptodiffer Community

Based on other developments and events of your competitors I ask: how do you guarantee security within the Persistence Chain? As a normal user or as an investor, what characteristics would decide me to bet on you compared to other alternatives?

Will they be in time to launch their Mainnet for Q4 2020? What other goals can we expect completed by Q4?

Abhitej Singh

This is a very solid question. Persistence has been working on both internally and with 3-rd parties for code/product audits.

We have built strong fundamentals in terms of our code deployments.

For each product that we push goes through multiple internal quality assurance and auditing staging.

1. Internal team audit
2. Review and feedback from the advisors and other key stakeholders
3. Testnet implementation to find out vulnerabilities
4. Launch of alphatest [which allows to incorporate the feedback and fix the vulnerabilities and again have further stress and pentesting of our products]
5. Launch of mainnet
Actually you will be surprised to know that we are moving ahead of our roadmap at the moment.
You can expect the following in next few months:

Token Sale: March 2021
Mainnet Launch and Staking: Q1 2021
pStake Launch: April 2021
Asset Mantle launch: Q2 20201
Exchange lisitings: Q2 2021

Cryptodiffer Community

Can you tell us about your plans for long-term? what you are currently focusing on?Also what strategy will be used to expand globally?

Abhitej Singh

Best to go through our roadmap for the same: https://persistence.one/roadmap

Cryptodiffer Community

How do you plan to spread awareness about your project in different countries/regions where English is not spoken well? Do you have local communities for them to let them better understand about your project?

Abhitej Singh

We are already working with the regional communities to create the awareness about our project and be more inclusive of the non-english speaking communities. Some of our regional communities are:

Vietnamese: https://t.me/PersistenceOneVietnam
Korean: https://t.me/PersistenceKorea
Russian: https://t.me/PersistenceRussia
Thai: https://t.me/PersistenceOneThai
In case you are in China you can send the request to the following QR code and more than happy to add you to our wechat community.

Abhitej Singh

Chinese WeChat community
I believe in interest of time will communicate the most important thing.
We have our token sale coming up next week and mainnet launch. Do keep a close eye on it if you are interested in Persistence.

Abhitej Singh

Join our community for more exciting updates and community initiatives:

📌TG Community: https://t.me/PersistenceOneChat
📌Announcements: https://t.me/PersistenceOne
📌Website: https://persistence.one/
📌Medium: https://medium.com/persistence-blog
📌Twitter: https://twitter.com/PersistenceOne
📌 YouTube: https://youtube.com/PersistenceOne
📌Reddit: https://www.reddit.com/r/PersistenceOne/
📌Linkedin: https://www.linkedin.com/company/persistenceone/

To learn more about Persistence One, our achievements and plans going forward you can access the following resources:

- Whitepaper: https://persistence.one/static/media/whitepaper.aa159390.pdf
- Github repo: http://github.com/persistenceOne
- Roadmap: https://persistence.one/roadmap

Cryptodiffer Team

I am really looking forward to your Launch!
Super anticipated one IMO!

Cryptodiffer Team

Thanks for your time
@tusharaggarwal @abhitejsingh
Thank you to everyone who took part!