Ryze Up: Persistence Labs focuses on building liquidity infrastructure for the Cosmos ecosystem.

The Origin and Vision of Persistence Labs

Mikhil, as the Chief Strategist of Persistence Labs, shared the company's development journey. He stated that from the very beginning of its establishment, the company focused on the liquidity issues within the Cosmos ecosystem and was determined to build a dedicated Layer 1 to serve the asset liquidity needs. The Persistence Chain became one of the earliest chains in the Cosmos ecosystem, providing users with the functionalities of lending, trading, and issuing liquid collateral assets.

The reason for choosing the Cosmos ecosystem lies in its unique multi-chain architecture. Compared to Ethereum, Cosmos connects multiple blockchains through the inter-blockchain communication protocol (IBC), allowing each application to build on its own chain, thus avoiding the issue of competing for block space. The IBC protocol also enables trustless and non-custodial cross-chain asset transfers, which is a core advantage of Cosmos.

Advantages of Application Chains

More and more projects are choosing to build application chains with Cosmos SDK, mainly based on the following considerations:

1. Value Capture: Application chains can better retain revenues such as MEV, rather than losing them to the underlying public chain.

2. Sovereignty of the chain: The project team can independently decide the operational rules, parameter settings, and profit distribution mechanisms of the chain.

3. Highly customizable: KYC processes, consensus mechanisms, and other key elements can be customized according to requirements.

4. Focus on Applications: Cosmos abstracts cross-chain communication and consensus parts, allowing project teams to focus more on the development of the applications themselves.

Persistence's Liquidity Staking Solution

The Cosmos ecosystem previously faced the dilemma of insufficient liquidity, forcing users to choose between staking and participating in DeFi. Persistence keenly identified this pain point and launched the liquidity staking product pSTAKE. After staking ATOM, users can receive liquidity tokens stkATOM, allowing them to continue earning staking rewards while also participating in DeFi activities, greatly enhancing asset utilization.

Compared to competitors, Persistence's advantages include:

1. First-mover advantage and brand reputation
2. Attach great importance to security and invest a lot of resources in auditing.
3. Focus on user experience, exceptional usability.
4. Committed to decentralization, with a large number of validators.

In the future, Persistence plans to provide liquidity staking services for more Cosmos application chains and explore expansion into other public chain ecosystems.

Security is paramount

Persistence places a high emphasis on security during the development of pSTAKE, investing significant effort in areas such as cross-chain, fund auditing, and validator management. The company also runs a bug bounty program and conducts comprehensive testing before launching new products to minimize risks as much as possible.

Future Outlook

Persistence Labs believes that liquidity tokens will become the foundational assets of DeFi, and liquidity staking is expected to be the next major event driving the development of DeFi. The company will in the future:

1. Collaborate with more Cosmos applications to expand the ecosystem of pSTAKE and Dexter.
2. Continuously optimize user experience
3. Strengthen market education to encourage users to shift from traditional staking to Liquidity Staking.
4. We welcome teams with a shared vision to build applications on the Persistence Chain and jointly promote industry development.