Mary | Satoshi Club: <\/strong>Hello, Satoshi Club! We are happy to announce our AMA session with Persistence:grinning: @tusharaggarwal<\/a> @abhitejsingh<\/a> and @pandeymikhil<\/a> welcome to Satoshi Club:grinning:<\/p>\n\n\n\n D. | Satoshi Club:<\/strong> hello all<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>Hi all, <\/strong>Great to be here<\/p>\n\n\n\n D. | Satoshi Club:<\/strong> @tusharaggarwal<\/a> @abhitejsingh<\/a> @pandeymikhil<\/a> hello guys! good to have you<\/p>\n\n\n\n Mikhil Pandey | Persistence: <\/strong>Hi everyone, Excited to be here<\/p>\n\n\n\n Abhitej Singh | Persistence: <\/strong>Hello everyone, It’s great to be here and I am sure it’s going to be a lot of fun.<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> You are welcome :grinning: how was your day?)<\/p>\n\n\n\n Tushar Aggarwal | Persistence:<\/strong> It’s been a little hectic – we just made a major announcement regarding a Stakedrop campaign – which is one of the boggest community initiatives we have launched<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>can you share with us?<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>Absolutely<\/p>\n\n\n\n Abhitej Singh | Persistence: <\/strong>#StakeDrop<\/a> #Community<\/a> PoS Token Holders, Prepare Yourselves for Persistence StakeDrop! 1,000,000 XPRT Tokens will be Distributed! Tushar Aggarwal | Persistence: <\/strong>Hah yes! <\/strong>We already see a lot of interest in. Great way to Stakers and Delegators to get Persistence $XPRT token<\/p>\n\n\n\n D. | Satoshi Club:<\/strong> ready for stakedrop? )<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Yes, sure:joy: everything with ‘drop’ is mine:joy:<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>We’ll be ‘drop’ping more good news as we go along \ud83d\ude09<\/p>\n\n\n\n https:\/\/t.me\/PersistenceOne<\/a><\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Guys, could you, please, introduce yourself? Also how did you start with Persistence?<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>Yess! My first crypto experience was when I was based in Singapore – towards the end of 2016, I got on Coinbase and started buying cryptos after getting my capital out of some traditional investments. Was looking to do angel investments into startups but instead came across crypto and the rest is as they say, history. I started my career in the Blockchain\/Crypto industry hosting the Decrypt Asia podcast (https:\/\/decrypt.asia\/<\/a>) and writing extensively about Blockchain\/Crypto on Tech in Asia. One of my blogposts on Terra from back in the day – https:\/\/www.techinasia.com\/terra-drive-mass-adoption<\/a><\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> Yes, mass adoption is our headache and engine to move forward) We need it more and more)<\/p>\n\n\n\n Tushar Aggarwal | Persistence:<\/strong> It is also crucial as the industry moves from a ‘speculative’ phase to a ‘value creeation’ phase<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> That’s true) i think we are close to the ‘value of creation’<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>It takes time – but yes, definitely moving in that direction. And that’s what we’re trying to achieve at Persistence as well<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>@pandeymikhil<\/a> @abhitejsingh<\/a> what about you guys, can you tell Satoshi club about yourself? just a bit 😁<\/p>\n\n\n\n Abhitej Singh | Persistence: <\/strong>Hello everyone, Mary | Satoshi Club:<\/strong> I see that blockchain conferences are often behind the beginning of great collaborations)<\/p>\n\n\n\n Mikhil Pandey | Persistence:<\/strong> I was in college and was trading cryptocurrencies. Soon after I graduated I started looking at the industry from a different perspective. I knew Abhitej through a common friend and he introduced us and after that I just fell in love with Persistence’s vision<\/p>\n\n\n\n Q1 from bitcointalk user tolgaozek @tolgaozek<\/a> on Telegram<\/em><\/p>\n\n\n\n About 3.7 M investment by different VCs, how percentage did they get in your portfolio? How many advisors will they assign for you?<\/strong><\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>We’ll be releasing the tokeneconomics in the coming days. Pls join this to stay tuned https:\/\/t.me\/PersistenceOne<\/a> . Advisors are on this page – https:\/\/persistence.one\/team<\/a>Along with the team \ud83d\ude42 We have advisors who bring different aspects to the table – ranging from geographical support (e.g. in China) to overall strategy, community and token management, marketing etc<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>approximately when? on this week, on the next one? )<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>No timeline confirmed on this one<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>So, you didn’t have public token sale?<\/p>\n\n\n\n Tushar Aggarwal | Persistence:<\/strong> Nope not yet. Currently, the big initiative for the community to participate is the Stakedrop campaign<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Yes, that is a chance)))<\/p>\n\n\n\n Mikhil Pandey | Persistence: <\/strong>1% of our total genesis supply up for grabs through StakeDrop<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>So, how did you choose Cosmos, Polkadot etc for your stakedrop?) Was it random?)<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>We’ve been early betters on the PoS\/dPoS ecosystem as well as believers in Interoperability. We are building on Tendermint as well and hence part of the Cosmos ecosystem. As a result, it was a natural choice for us to pick Cosmos Polkadot. Along with other relevant and strategic Blockchain projects also in the Cosmos Polkadot ecosystem<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>But you will have your own blockchain later, am i right?<\/p>\n\n\n\n Tushar Aggarwal | Persistence:<\/strong> Correct. Tendermint follows the app-chain model. So other Tendermint based projects such as Kava, Band, Terra all have their Tendermint based chains. It will be the same for us<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> Great, when do you plan it to go live?<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>Currently, Comdex (the first application in the Persistence ecosystem) is running on Testnet. Comdex is going to hit mainnet in November. Comdex is a physical commodity trading and trade financing platform that is already in production. It has now processed 41M worth of commodity trades and 41M worth of commodities have been tokenised using NFTs. Happy to go into more detail as to how that works<\/p>\n\n\n\n \nAbhitej\nSingh | Persistence<\/strong>:\n<\/strong>\n<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>As highlighted, Comdex plays this role. Physical Commodities are represented on chain using NFTs. Similar to how every Cryptokitty is unique. Every Commodity is unique. Once commodities are represented on chain using NFTs, they can be traded against Stablecoins<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>You will have DEX and debt marketplace from the very beginning there?)<\/p>\n\n\n\n Tushar Aggarwal | Persistence:<\/strong> As for debt marketplace. Once a trade is complete, it usually takes place on credit terms which means that buyer doesnt pay seller immediately. But after 30-90 days. Sometimes the seller wants immediately liqudiity, So the seller can place the invoice generated from the trade as collateral to secure a loan. As a result, we enable putting ‘real world’ assets as collateral to enable borrowing \/ lending. Unlike the Crypto industry today, where you can only use Cryptoassets as collateral. This is the natural progression of borrowing lending using Crypto as the rails<\/p>\n\n\n\n Q2 from\nbitcointalk user rolex745 @konditer_rolex<\/a>\non Telegram<\/em><\/p>\n\n\n\n Good afternoon. I really love NFT. I have collections with the Pepe the frog, there are nft created by cryptocurrency with the image of monkeys. For me, like for many people, nft is funny pictures. Tell us how your NFTs that you plan to use to tokenize real assets differ from pictures with a funny frog? <\/strong> <\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>Haha good question!! Like I mentioned..like how Pepe the Frog is unique, Every ‘real world’ asset is unique. Pepe the Frog has certain unique characteristics similar to every commodity or business invoice having unique characteristics. Like how you would be able to trade frogs or monkeys or digital art..similarly once something is represented on chain, it can be traded. We’ve been working with NFTs for a long time in this context. The Interchain Foundation (foundation governing Cosmos) gave us a grant recently to create ‘interchain’ standards for NFTs<\/p>\n\n\n\n https:\/\/medium.com\/persistence-blog\/persistence-one-first-to-implement-interchain-native-nft-transfer-bags-icf-grant-cdb6c3856c25<\/a><\/p>\n\n\n\n This is similar to how ERC721 has become the NFT standard within Ethereum ecosystem. We lead the Global Working group to define these standards. For more details (especially for developers) – http:\/\/internft.org\/<\/a><\/p>\n\n\n\n interNFT\nworking group, inter stands for interoperable<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>So, in simple words, it will be a picture, for example, of my invoice on blockchain, yes?<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>Exactly<\/p>\n\n\n\n Q3 from Telegram Username @Dunc2k<\/a><\/em><\/p>\n\n\n\n If you use real world assets as collateral, are they at any risk of loss? How does that work?<\/strong><\/p>\n\n\n\n Tushar Aggarwal | Persistence:<\/strong> Yes, in the beginning, we work with multiple third parties to check the authenticity of the ‘real world’ assets. Whether those real world assets exist. Once that verification is done, then they are brought on chain<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Even with authenticity, don’t you have to face with government regulations?<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>Proper underwriting (insurance) is in place to mitigate any counterparty risk \ud83d\ude42 Since our initial focus is cross border trade and physical commodities – some of the regulatory complexity is removed. as trading of ‘physical’ commodities is lightly regulated. Biggest compliance is KYC\/AML which we comply with https:\/\/finance.yahoo.com\/news\/comdex-completes-over-10m-worth-070800123.html<\/a> . Some news about Comdex \ud83d\ude42<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Ok, will you need to hold in your hands an original of my paper asset before it’s tokenised?<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>Not me \ud83d\ude42 But third party verifiers who are whitelisted<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Who will check this?<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>this, These could range from insurance agents, trade financiers etc. Who are skilled in checking this, It could be digital also – not only paper based – PDF etc. But authenticity will be verified<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Can you disclose the name of that third part or there will be a lot of third parts?<\/p>\n\n\n\n Tushar Aggarwal | Persistence:<\/strong> In the spirit of decentralisation there will be multiple third parties, Could also be auditors<\/p>\n\n\n\n Q4 from Telegram Username @PaoloMonte87<\/a><\/em><\/p>\n\n\n\n One common problem related to NFTs is their monetary evaluation. How will you manage to assess the actual price and its price evolution in time against any stable coin or crypto asset?<\/strong><\/p>\n\n\n\n Tushar Aggarwal | Persistence:<\/strong> Again independent third party verifiers who are experts are determining the valuation of those assets will be responsible. Biggest of them is trade financiers. Trade Finance funds that manage anywhere between 20-100M $ – for them its bread and butter to evaluate the valuation and also risk. We’ll be releasing some big names of trade finance funds we’re collaborating with in the coming time<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>So, they (experts) will determine its price. You will be just marketplace and platform for trading etc<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>Kinda – it is the job of trade finance funds to generate yield. Now Stablecoin holders will be able to generate that yield as well. <\/strong>Participate in generation of yield through ‘real world’ income generating assets<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> Yes, that’s right) and this will involve traditional finances into our digital world) Right?<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>Exactly, This is already happening in general in the industry. E.g. https:\/\/www.coindesk.com\/makerdao-weighs-accepting-real-world-assets-as-crypto-loan-collateral<\/a><\/p>\n\n\n\n Q5 from Telegram Username @cengizhantekin<\/a><\/em> Tushar Aggarwal | Persistence: <\/strong>Thank you! We were awarded to create interchain standards for NFTs. today NFTs are primarily only within Ethereum and are not multi-chain. We’re creating natively multi-chain NFTs<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> In simple words, i will be able to hold my tokenised asset on any chain? Or which chain?<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>Any chain http:\/\/internft.org\/<\/a> . This website lists some projects we’re working closely with. Still working on making website more marketing friendly, Right now its developer friendly. Its very similar to how ERC721 was created as a standard http:\/\/erc721.org\/<\/a><\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>So, today we are talking a lot about NFTs. But why you need your own token XPRT?<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>Great question. Outside of working as a Staking and Governance token, the $XPRT tokens functions as a ‘Work token’ – i.e.stakers, delegators of $XPRT token receive cashflows from the dApps in Persistence ecosystem<\/p>\n\n\n\n We’re debating\ninternally whether we should give cashflows directly instead of doing\na Buy and Burn. This image explains the work token aspect. Outside\nof that, as mentioned, the token will be used for staking,\ngovernance, validator (dis)incentivization (similar to Kava, Band,\nTerra etc)<\/p>\n\n\n\n Q6 from Telegram user @askarovich<\/a><\/em> Tushar Aggarwal | Persistence: <\/strong>Commodity trading and trade finance is one of the most well known use cases of Blockchain tech as there are so many stakeholders involved. In general, however, private blockchains such as Hyperledger and Corda are used to tackle this use case. We wanted to do it using Public Blockchains. Tried building on Ethereum and Waves. But ultimately decided to build on Tendermint due to the app-chain specific structure which suited us the best<\/p>\n\n\n\n Some problems we are trying to solve in traditional finance<\/p>\n\n\n\n Some problems that we’re trying to solve with DeFi<\/p>\n\n\n\n D. | Satoshi Club: <\/strong>looks like you made a right choice with Tendermint<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>:))<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Any plans for non-commodity assets?) Real estate, for example?<\/p>\n\n\n\n Tushar Aggarwal | Persistence: <\/strong>Yes, <\/strong>But longer term. As there are more regulatory battles to be fought there. Initial focus will be ‘physical’ commodities<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Yes))) you are right) hope, after success with this you will move forward to solve also this problem)<\/p>\n\n\n\n Q1 from Telegram user @Nickkiii<\/em><\/p>\n\n\n\n Can\nyou give us more details on how the upcoming Persistence Stake drop\ncampaign would run ?<\/strong><\/p>\n\n\n\n Abhitej Singh | Persistence: <\/strong>Read more about it here: https:\/\/medium.com\/persistence-blog\/pos-token-holders-prepare-yourselves-for-persistence-stakedrop-the-grand-unveiling-d5f6ca6ddc40<\/a> Q2 from Telegram user @Allen010<\/em><\/p>\n\n\n\n There are many other projects similar to you So what makes you different from them and what is the advantage your platform has that you feel most confident about ? Q3 from Telegram user @Winterkom<\/em><\/p>\n\n\n\n What\nis the importance of Persistence Validators? Is it still possible to\nbe a validator?<\/strong><\/p>\n\n\n\n Tushar\nAggarwal | Persistence<\/strong>:<\/strong><\/p>\n\n\n\n These are some of the validators validating for Persistence ecosystem currently – 80% of them are in the top 20 validator set for Tendermint chains such as BAND, KAVA, Cosmos itself. These are some of the validators validating for Persistence ecosystem currently – 80% of them are in the top 20 validator set for Tendermint chains such as BAND, KAVA, Cosmos itself<\/p>\n\n\n\n Q4 from Telegram user @JoxesXIII<\/em><\/p>\n\n\n\n What\nare the reasons and purposes of having built Persistence on Cosmos\nSDK technology? Can you list some notable advantages?<\/strong><\/p>\n\n\n\n Abhitej Singh | Persistence: <\/strong>The Cosmos SDK not only allows Persistence the ability to take advantage of the \u2018Inter-blockchain Communication Module\u2019 (IBC) being launched by Cosmos, but also allows for Persistence to create its own ecosystem of application specific chains which leads to an exponentially higher level of scalability. Through the use of the Cosmos IBC module, stablecoins from various networks integrated with the Cosmos IBC can be interoperably transacted on the Persistence App where these assets can be deployed to finance real world commodity trades. In addition, the Cosmos Hub\/Zone structure allows for applications built on Persistence to have their own chain (zone) for application specific transactions while transactions pertaining to the native Persistence token occur on the hub.<\/p>\n\n\n\n Q5 from Telegram user @jpsarmah<\/em><\/p>\n\n\n\n \u2018\u2019Persistence\nis shaping up to be a major building block in this financial\nrevolution and we\u2019re proud to be supporting their journey.\u201d-\nMichael Arrington. What is this financial revolution that he is\ntalking about and what possibilities will it bring for traditional\nfinance users?<\/strong><\/p>\n\n\n\n Abhitej\nSingh | Persistence: <\/strong>\n<\/p>\n\n\n\n Q6 from Telegram user @huydo<\/em><\/p>\n\n\n\n I\nsee XPRT listed on Uniswap, is it real and when XPRT listing more\nexchanges?<\/strong><\/p>\n\n\n\n Tushar Aggarwal | Persistence:<\/strong> https:\/\/t.me\/PersistenceOne\/98<\/a> . Not real<\/p>\n\n\n\n Q7 from Telegram user @KhaleesiTheCryptoLady<\/em><\/p>\n\n\n\n
We\u2019ve been meticulously planning an innovative initiative to provide the crypto community with access and exposure to XPRT (Persistence\u2019s native token). It\u2019s called StakeDrop, and it\u2019s emerging on the horizon.
StakeDrop is a token distribution mechanism that allows token holders of prominent PoS networks to receive an allocation of XPRT tokens simply by staking on their favourite networks. Networks include: Cosmos Network, Terra, Kava Labs, IRISnet, Polkadot, Matic Network and Tezos.
<\/strong>1% of the total supply of XPRT tokens (1,000,000 XPRT) is allocated for StakeDrop rewards. Reward amounts for specific participants depend on a variety of factors, including which network\/s they are staking on, whether they are delegating to an AUDIT.one<\/a> validator (higher rewards) or a different validator, and the length of their participation in each campaign.
🤝 Airdrops are so 2017. StakeDrop has been designed to be much more than a conventional airdrop; it\u2019s an experience. StakeDrop benefits all parties involved, whilst providing an engaging experience for StakeDrop participants.
<\/strong>The first of seven StakeDrop campaigns will be on Cosmos Network, and will begin on October 26th, 2020. Each of the following StakeDrop campaigns will then commence 10 days after the previous one begins. We will keep the community updated on the details of each campaign as we move forward.
Are you ready for StakeDrop? We certainly are :sunglasses:
Read the full details here: https:\/\/buff.ly\/375424p<\/a>
🗣 Spread the word: https:\/\/twitter.com\/PersistenceOne\/status\/1316720422591881216<\/a>
Mary | Satoshi Club: <\/strong>Oh, i saw it:joy: it’s really big:+1:<\/p>\n\n\n\n
Then I joined as the first employee at Singapore based LuneX Ventures (Crypto arm of a Traditional VC Golden Gate Ventures – https:\/\/goldengate.vc\/<\/a>). 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.<\/p>\n\n\n\n
I am Abhitej Singh, I lead the Marketing Strategy and Community at Persistence. I was introduced to Crypto industry while travelling across the US in 2017 and got into it completely in late 2018.
Before joining Persistence, I was helping a couple of early stage startups (now backed by Ola and Flipkart – 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 Blockchain Conference and really liked the vision they had and joined them back in November 2019. Here we are building @PersistenceOne<\/a>!<\/p>\n\n\n\n![\"\"](\"https:\/\/esatoshi.club\/wp-content\/uploads\/p1-14-1024x448.jpeg\")
<\/figure>\n\n\n\n
Congrats on being awarded by ICF. Can you tell us which part of Persistence environment was awarded for what success?<\/strong><\/p>\n\n\n\n![\"\"](\"https:\/\/esatoshi.club\/wp-content\/uploads\/p2-6.jpeg\")
<\/figure>\n\n\n\n
You claim to solve the problems of the commodity industry. How can you do that with blockchain tech? and have you chosen this one for your service, it is not very known in crypto. There are rather other online services<\/strong><\/p>\n\n\n\n![\"\"](\"https:\/\/esatoshi.club\/wp-content\/uploads\/p3-5.jpeg\")
<\/figure>\n\n\n\n![\"\"](\"https:\/\/esatoshi.club\/wp-content\/uploads\/p4-3.jpeg\")
<\/figure>\n\n\n\nPart\n2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n
We launched a detailed mechanism.<\/p>\n\n\n\n
<\/em><\/strong>
Tushar Aggarwal | Persistence:<\/strong><\/p>\n\n\n\n![\"\"](\"https:\/\/esatoshi.club\/wp-content\/uploads\/P5-3-1024x401.jpeg\")
<\/figure>\n\n\n\n![\"\"](\"https:\/\/esatoshi.club\/wp-content\/uploads\/P6-1.jpeg\")
<\/figure>\n\n\n\n![\"\"](\"https:\/\/esatoshi.club\/wp-content\/uploads\/P7-1.jpeg\")
<\/figure>\n\n\n\n