⛓️ What is Persistence ?
Persistence is an open blockchain platform created to finance private business and bring together three sectors of the modern economy: Decentralized Finance (DeFi), Open Finance (OpFi), and Centralized Finance (CeFi).
Persistence operates at the confluence of DeFi, NFTs, and Proof-of-Stake and currently consists of 5 applications some of which are live and some will be going live in the year 2021 with many more applications in the pipeline 1. Comdex: Comdex is an institutional user-facing application providing an end to end commodities trading solution such as trade discovery, trade settlement and trade financing 2. pSTAKE: pSTAKE is a liquid staking application that allows stakers of prominent PoS networks to unlock liquidity of their staked assets and use these assets in DeFi while earning staking rewards 3. Asset Mantle: Asset Mantle is a framework for NFT marketplaces. As a framework, Asset Mantle will provide all of the elements required to create individual marketplaces 4. pLend: pLEND is a debt financing stablecoin platform backed by real-world assets such as invoices. It will allow stablecoin holders to seamlessly participate in the $7T+ global trade financing industry 5. AUDIT.one is the validator arm of Persistence.one which provides top-tier validation services for leading PoS networks
💰 What is Staking ?
Staking is the process of locking up a digital asset to provide economic security for a public blockchain. You have the superpower to contribute to the security, governance and it grants you the right to vote on proposals and make decisions on the future of the network.
When the staking transaction is complete, rewards will start to be generated immediately. At any time, stakers can send a transaction to claim their accumulated rewards.
Staking rewards are generated and distributed to staked holders in two ways:
Transaction fees collected on the network are distributed to staked holders.
The total supply of the token is inflated to reward stakers.
⚠️ Holders that do not stake do not receive rewards, meaning their token get diluted over time.
Staking is not risk-free. If a validator has downtime or underperforms, a percentage of tokens delegated to them may be forfeited. To mitigate these risks, it is recommended that holders delegate to multiple validators.
📈How to stake $XPRT ?
There are two ways to stake your $XPRT:
A- Using the web wallet
Step 1: Create/Import your wallet
Go to https://wallet.persistence.one/ and Create or Import an existing wallet
Step 2: Delegate
Go to “Staking” on the menu bar, search for “Imperator.co” and click on “Actions”. On the pop-up, choose “Delegate”
Specify the number of XPRT tokens that you want to stake and
Note: Always leave a few tokens to pay the commission when you delegate, send tokens, or collect a reward.
Load your KeyStore file and put your KeyStore file password then click on Delegate and you are Done!
Withdrawing your rewards is simple as child’s play: click on “claim” on your top right wallet
Then select on your validator list “Imperator.co”, click on Next and load your KeyStore file and put your KeyStore file password then click on Claim Rewards and you are Done!
B- Using the Cosmostation mobile application
Step 1: Download
Download the Cosmostation application on the AppStore or Google Play
Step 2: Create/Import your wallet
Import or Create an XPRT wallet by following instructions
Step 3: Delegate
On your wallet, click on Delegate and select Imperator.co
You will see details on the selected validator, click on Delegate
Put the amount desired and click on Next
Note: Always leave a few tokens to pay the commission when you delegate, send tokens, or collect a reward.
You do not need to put a Memo for this step, click Next
Here you can also manually configure the network fee. The larger the commission, the faster the transactions are confirmed.
Read carefully the notice and then Continue
Then confirm your transaction
Congratulations, you have staked your $XPRT
Withdrawing your rewards is simple as child’s play: click on Delegate, select your validator and choose between Claim Reward and Re-Invest depending on your willingness
