{"id":7580,"date":"2021-03-30T13:32:00","date_gmt":"2021-03-30T10:32:00","guid":{"rendered":"https:\/\/esatoshi.club\/?p=7580"},"modified":"2021-03-30T13:34:31","modified_gmt":"2021-03-30T10:34:31","slug":"ama-satoshi-club-x-persistence-march-29th-2","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2021\/03\/30\/ama-satoshi-club-x-persistence-march-29th-2\/","title":{"rendered":"AMA Satoshi Club x Persistence, March 29th"},"content":{"rendered":"\n

The educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from Persistence. The AMA took place on March 29th, 2021, and our guest were @tusharaggarwal @abhitejsingh.<\/p>\n\n\n\n

The total reward pool was 500$ and was divided into three parts. In this AMA Recap, we will try to summarize some of the most interesting points for you.<\/p>\n\n\n\n

Part 1 \u2014 introduction and questions from the Telegram&Bitcointalk community<\/strong><\/h2>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Hello, dear community! <\/strong>We are very glad to conducting AMA with\nPersistence! Today our guests are @tusharaggarwal @abhitejsingh!<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Hello everyone!  Great to\nback here with the ever-growing Satoshi Club community.<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>@tusharaggarwal @abhitejsingh\nhow’s going your day guys?<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Hello and welcome to Satoshi\nClub, @tusharaggarwal and @abhitejsingh!😊 And we are\nvery happy to see you again and very excited about the upcoming AMA.😊<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Would say very busy with Mainnet launch, token listing on 1st April,\nAMAs and partnerships but this is the best feeling 🚀<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>That’s the aptitude we need,\ncongratulations for all that coming events 🥳👏<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>I hope you can tell us more\nabout this.🙏<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Absolutely we will talk more about all of this today\u2019s AMA.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Let’s start! @abhitejsingh Introduce\nyoureself. How did you get to be involved in crypto & Persistence?<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Hello Everyone, <\/p>\n\n\n\n

I am Abhitej Singh and I take care of\nStrategy and Community at @Persistenceone. My introduction to Crypto was in\n2016-2017 while  I was travelling across\ndifferent parts of India and the US. I was very fascinated by the core\ncharacteristics of Crypto and Blockchain in general – ownership and\ntransparency. So, after initial introduction I jumped into Crypto completely in\nlate 2018. <\/p>\n\n\n\n

Before joining Persistence, I was helping a\ncouple of early stage startups (now backed by Ola and Livspace – unicorns in\nIndia). I was also actively involved building communities for Google, facebook\nand co-founded national hackathon in India called Code2Create. <\/p>\n\n\n\n

I met Tushar and Deepanshu (Co-founders) in\n2019 at a Blockchain Conference and really liked the vision they had and joined\nthem back in November 2019. Here we are building @PersistenceOne.<\/p>\n\n\n\n

I also co-founded Cosmos India with Tushar\nand Deepanshu.<\/p>\n\n\n\n

Learn about our journey so far: https:\/\/www.youtube.com\/watch?v=bPHOZPsoEnQ<\/a><\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Great background and great\nintro! 👏<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Happy to know that more about\nyou, that will make the AMA more familiar<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>What is the essence of your\nproject? How long does it take to develop a project? What plans do you have\nfor the future? And what can we expect from Persistence?<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>A lot of questions together. Let me take them one by one.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Of course ☺️ take your time please.<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾:<\/strong> In simplest\nterms, Persistence is creating ecosystem of financial products which will have\ndebt financing, borrowing\/lending, DEXs, Fixed income generators etc.<\/p>\n\n\n\n

To dive a little deeper:<\/p>\n\n\n\n

Persistence is an interoperable protocol\nbuilt to facilitate the creation of next-gen financial products. The\nPersistence tech stack provides the infrastructure to effectively bridge the\nrealms of DeFi and traditional finance in a variety of areas, whilst also\nenabling the creation of innovative crypto-facing solutions to expand the DeFi\nand NFT sectors.<\/p>\n\n\n\n

Persistence is operating at the confluence\nof NFTs + DeFi + PoS Staking. We have already developed a full suite of\nfinancial products:<\/p>\n\n\n\n

♦️Comdex:\nInstitutional-facing commodities trading and trade financing platform. Handled\nover $55M in transaction volume.<\/p>\n\n\n\n

♦️AUDIT.one:\nStaking-as-a-service infrastructure. Currently over $200M in assets under\nmanagement.<\/p>\n\n\n\n

♦️pStake: Liquid\nstaking product unlocking liquidity of staked assets.<\/p>\n\n\n\n

♦️pLend:\nStablecoin lending platform backed by real-world assets.<\/p>\n\n\n\n

♦️Asset Mantle:\nInteroperable NFT marketplace framework, enabling the creation of\n\u2018Shopify-style\u2019 NFT marketplaces.<\/p>\n\n\n\n

Learn more about our mission and product\necosystem here: https:\/\/buff.ly\/2NWnFE3<\/p>\n\n\n\n

We have been building Persistence since\n2019 and we have built all three-layers:<\/p>\n\n\n\n

– Network Layer <\/p>\n\n\n\n

– Persistence SDK <\/p>\n\n\n\n

– Application layer <\/p>\n\n\n\n

This allows to develop very comprehensive and user-friendly applications. And it’s the same reason we have institutional as well as crypto-native application in our ecosystem.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

This is will give\neveryone a fair idea of how our technology is stacked.<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Wow, a big g ecosystem that\nfaces the problems of the users👏<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Nice infographic!👍<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>We aim to become the largest suite of financial products (Both\ncrypto-native and institutional applications). <\/p>\n\n\n\n

We are already on a great start with\nComdex, pStake, AUDIT.one, Asset Mantle and pLend. But this is just the start. <\/p>\n\n\n\n

You can find all our upcoming updates in\nour latest roadmap: https:\/\/persistence.one\/roadmap<\/p>\n\n\n\n

But some of the key updates will be:<\/p>\n\n\n\n

Token Sale: 31st March 2021<\/p>\n\n\n\n

Mainnet Launch: 30th March 2021<\/p>\n\n\n\n

Staking Interface launch: 1st April<\/p>\n\n\n\n

Exchange Listing: 1st April<\/p>\n\n\n\n

pStake Launch: April\/Early May 2021<\/p>\n\n\n\n

Asset Mantle launch: Q2 20201<\/p>\n\n\n\n

Exchange listings expansion: Q2 2021<\/p>\n\n\n\n

Done ✅<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Exchange listing? Where are you\ngoing to be listed?<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Big thanks👍<\/p>\n\n\n\n

Abhitej Singh | Persistence 🦾: <\/strong><\/p>\n\n\n\n

🌐\nDetails: https:\/\/buff.ly\/3siaBIy<\/a><\/p>\n\n\n\n

🦾XPRT\nstaking offering 35% APR will launch directly after TGE, alongside our mainnet.<\/p>\n\n\n\n

Prepare for liftoff 😎<\/p>\n\n\n\n

🗣\nRetweet: https:\/\/twitter.com\/PersistenceOne\/status\/1375072098520080385<\/a><\/p>\n\n\n\n

Persistence.one <\/a> | Twitter<\/a> | Telegram <\/a> | Medium<\/a> | YouTube<\/a> <\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>So soon🚀🚀🚀<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Time to go with our first\nquestion<\/p>\n\n\n\n

Q1 from Telegram User @carolina0012<\/em><\/strong> <\/em><\/strong><\/p>\n\n\n\n

The SDK is constantly expanding to\naccommodate new types of use cases and dApps entering the Persistence\nEcosystem. However, with the modules already available, the trade and trade\nfinance journey can cover the onboarding of organizations and their employees,\nproviding relevant access rights to onboard employees. Is the use of\nfingerprints also applicable to make documents verifiable?<\/em><\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>This is an interesting question. Persistence SDK is equipped with\nmultiple modules that have the capability to be full-fledged projects\nthemselves. <\/p>\n\n\n\n

The objective with Persistence SDK is to bring the advantages of Web 3.0 (Trustlessness, Immutability, Auditability etc) at the same time have Web 2.0 experience.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

Some of the modules in Persistence SDK. As I\nunderstand, fingerprints are a way to authenticate the identity, Persistence\nhas multiple modules that incorporate identity management and authentication as\nwell as also deal with sensitive data through document provenance and Access\nControl Rights. Persistence SDK by it’s designed is without doubt one of the most\ncomprehensive and sophisticated toolkit for developers and in future we will\nadd more features as mentioned by you.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>it is very interesting!<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>An amazing concept, how do you\ncompete with your direct competitors? What features make you different?<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Which of the modules is the\nmost interesting for you personally?<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Persistence is essentially not competing with other chains or\nprotocol, we are building an ecosystem of products that are interoperable. <\/p>\n\n\n\n

Our current application suite resides on\nEthereum, Cosmos and Persistence. In future we aim to build bridges to\necosystems such as Polkadot, BSC etc.<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>I see, you are looking for a big\nadoption<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>That being said, we do have competitors for individual products, for\nexample:<\/p>\n\n\n\n

pStake: Stafi, Lido finance <\/p>\n\n\n\n

Comdex: Centrifuge <\/p>\n\n\n\n

AssetMantle: Mintbase<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Bridges between blockchains\nare really very important today! 👍<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Our goal is to bring value from different ecosystem and find ways to\nbuild syngeries with complementing protocols and projects. In my\npersonal opinion, the only way this industry will succeed if they protocols and\nnetworks can co-exist.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>I like that you offer\ncomplex solutions. Gold words👏<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Completely agree💪<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Same rationale goes behind very close partnership with Terra. We\nwill be using Terra’s Stablecoin ecosystem in our applications in absence of\nour own stablecoin.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>thanks a lot explanations!\nready to  proceed to the next question\nfrom the community?☺️<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Personally I love interNFT module. interNFT is very powerful module\nwhich will change the way we know NFTs today. Currently NFTs just exist in\nEthereum ecosystem due to absence of proper standards across other chains. In\naddition to that ERC-721 or ERC-1155 NFTs cannot flow to other chains and NFTs\nfrom other chains cannot flow to Ethereum. This is a huge barrier in NFT\ngrowth.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>I also think it is a very\npromising direction!<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>interNFT is a module that is standardising NFT and Metadata across\nchains and we were awarded with a grant as well for our work with interNFT by\nInterchain Foundation.<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Thanks for the clarification,\nNFT is a hot topic, I think that module would provide big solutions<\/p>\n\n\n\n

Abhitej Singh | Persistence 🦾: <\/strong>Today interNFT is supported by the leading projects such as Polkadot, Kusama, Cosmos, Secret Network, Keep Network and many more.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Congratulations🎉it is always a pleasure to\nget high marks for your work! many famous and familiar names. 😊<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Let’s go<\/p>\n\n\n\n

Q2 from Telegram User @yiselen<\/em><\/strong><\/em><\/p>\n\n\n\n

The architecture allows dApps to operate\nin isolation without being affected by Increased transaction loads experienced\nby other dApps in the chain \u2013 this becomes imperative to provide a seamless\nend-user experience and meet user expectations institutional. Why is the main\npersistence chain being boosted? What is the Byzantine consensus algorithm?<\/em><\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Persistence main chain essentially acts as hub for all the\napplication in the ecosystem and the key actions such as governance,\nincentivisation\/deincentivisation, public records can be executed here.<\/p>\n\n\n\n

As the Persistence ecosystem grow (already\n4 application operating) the value of Persistence chain and it’s governance\ntoken $XPRT will significantly grow.<\/p>\n\n\n\n

And can talk more about the XPRT token and\nit’s utility further in the AMA.<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Could you share details about\nthe tokenomics of XPRT?<\/p>\n\n\n\n

How is the amount of tokens distribution?<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>As far as Byzantine consensus algorithm is considered. Persistence\nis a tendermit-based chain and leverages the highly composable and robust\ntechnology developed by the Tendermint team.  You can read in detail about what is Byzantine consensus alogrithm\nand how tendermint implements it, here: https:\/\/blog.cosmos.network\/tendermint-explained-bringing-bft-based-pos-to-the-public-blockchain-domain-f22e274a0fdb<\/a> Sure thing. XPRT\ntokenomics and utility blog: https:\/\/buff.ly\/3feZxbw<\/a><\/p>\n\n\n\n

Done ✅<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Thank you so much, I think the\nanswer is so clear for us, would you like to add something before the next\nquestion?😃<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Let’s proceed<\/p>\n\n\n\n

  Q3 from Telegram User @meml97<\/em><\/strong><\/p>\n\n\n\n

One thing that made it into the news all\naround the world this weekend was your recent announcement that Zurich-based\ninvestment firm Tavis Digital, a spin-off of Tavis Capital, an asset manager\nregulated by the Swiss Financial Market Supervisory Authority (FINMA), has\npartnered with Persistence. Can you tell us more about this partnership? What\nare the benefits both parties will get from this? And specially how will this\nhelp you to pave the way for building that brigde between traditional financial\nand crypto?<\/em><\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Persistence has been working on both institutional and crypto-native\nuse-cases since the start. Our goal is to work on the following core\nthings:<\/p>\n\n\n\n

– Accessibility<\/p>\n\n\n\n

– Liquidity <\/p>\n\n\n\n

– Sustainability (Fixed Income)<\/p>\n\n\n\n

With same respect we have been building\ndifferent projects and cater to the needs of the both institutional and\ncrypto-native users.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>What other partnerships do\nyou have in your plans?  What do you\nexpect from these collaborations<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>The partnership with Tavis Digital has following benefits:<\/p>\n\n\n\n

– Provide the institutional investors\naccessibility to the PoS and DeFi assets <\/p>\n\n\n\n

– Bring Liquidity into the Crypto ecosystem\n<\/p>\n\n\n\n

– Grow the adoption of Crypto <\/p>\n\n\n\n

– Provide sustainable income to the\ninstitutional users (in times of negative returns in the traditional finance) <\/p>\n\n\n\n

– Abstracting the complexities of Crypto\nfor the institutional investors<\/p>\n\n\n\n

Our partnership with Tavis Digital was also\ncovered by Coindesk (Top Crypto media outlet): https:\/\/www.coindesk.com\/staking-as-an-asset-class-this-swiss-institutional-fund-is-jumping-in<\/a><\/p>\n\n\n\n

You can read more about our partnership\nhere.<\/p>\n\n\n\n

This is only one of many institutional partners\nthat we are working with. We will be disclosing our other partners as well in\ncoming months.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Thank! I will definitely\ncheck it out! This is a great achievement!👏👏👏<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Congratulations, we will be\nexpecting to know more about your new partnerships👏<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Let’s proceed.<\/p>\n\n\n\n

Q4 from Telegram User @AugusS7<\/em><\/strong><\/p>\n\n\n\n

You mention that you want to make\nreal-world and digital assets, such as invoices, collectibles, and art, more\naccessible, but how would they really be more accessible? converting some bills\ninto NFT tokens? I really don\u2019t understand<\/em><\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Let me break down this process in simple terms for you. Like how\nPepe the Frog is unique, every ‘real world’ asset is unique. Pepe the\nFrog has certain unique characteristics similar to every commodity or business\ninvoice having unique characteristics. Like how you would be able to trade\nfrogs or monkeys or digital art..similarly once something is represented on\nchain, it can be traded.\nWe’ve been \nworking with NFTs for a long time in this context. The Interchain\nFoundation (foundation governing Cosmos) gave us a grant recently to create\n‘interchain’ standards for NFTs. Read here: 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\nthe NFT standard within Ethereum ecosystem.<\/p>\n\n\n\n

For more details (especially for\ndevelopers) – http:\/\/internft.org\/<\/a><\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Haha I like so much the\nreference😅<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>The key information from the real-world assets such as invoices\n(Invoice Number, Invoice amount, payable date etc) are extracted and attached\nto a digital representation of these assets (Metadata).You may ask how do we\nverify the authenticity of these NFTs. Here is the answer: <\/p>\n\n\n\n

We work with multiple third parties to\ncheck the authenticity of the ‘real world’ assets. Whether those real world\nassets exist. Once that verification is done, then they are brought on chain.\nProper underwriting (insurance) is in place to mitigate any counterparty risk. Since our\ninitial focus is cross border trade and physical commodities – some of the\nregulatory complexity is removed as trading of ‘physical’ commodities is\nlightly regulated. Biggest compliance is KYC\/AML which we comply with. Some news\nabout Comdex: https:\/\/www.business-standard.com\/article\/pti-stories\/comdex-completes-over-10m-worth-of-commodity-trade-processes-119110800600_1.html<\/a><\/p>\n\n\n\n

Third party verifiers who are whitelisted\nneed to have the original copies of the documents. These could range from\ninsurance agents, auditors, trade financiers etc who are skilled in checking\nthis. The documents could be digital also – not only paper based – PDF\netc. But authenticity will be verified. In the spirit of\ndecentralisation there will be multiple third parties. Another analogy can be\ndrawn from Beeple’s NFT auction with Christie’s. Where Christie’s translated\nthe off-chain reputation of Beeple to determine the value of the NFT.<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Thank you for the detailed\nanswer, all this process has been audited or is in process to be?<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Over time we will see most of these assets exist only digitally\non-chain and the off-chain authentication wouldn’t be required but at the\nmoment we are in very early stage of the industry itself. Yes, Comdex\nis an institutional product and it needs to comply with certain standards and\nsecurity checks. And we aim to do similar audits for all our future institutional\nproducts as well.<\/p>\n\n\n\n

Done ✅<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Great work, is an important\ntopic to increase the users trust and security. Let’s proceed with\nthe next question😃<\/p>\n\n\n\n

Q5 from Telegram User @Michelth<\/em><\/strong><\/p>\n\n\n\n

Mainly Focused on Institutional\nInvestors and Borrowers Persistence Through shared security, the main chain can\nprotect application chains. For what purpose does the persistence team work\nclosely with Family Offices and SMEs?<\/em><\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Unlike western world most of the conglomerates and businesses in\nAsia are owned by family offices. With the hyper growth these family offices\nare looking for best alternatives to expand their businesses. For that\nmatter, Comdex is also backed by a billionaire family in India and a\ncommodities trading organisation in Singapore. We want to work\nclosely with family offices to drive more adoption and bring more capital into\nCrypto. On the other hand, most of the SMEs don’t have the accessibility to\nhuge capital and enough liquidity such as large corporations to operate their\nbusinesses seamlessly. The process to gain accessibility or liquidity in\ntraditional finance industry is very tedious and time consuming. Hence we want\nto leverage the abundant capital in the Crypto space to finance the real-world\nbusinesses. This will create a very balanced demand and supply scenario which\nin return will bring massive growth to both sides.<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Yes, that’s a good decision.\nFamily business symbolizes reliability!🤝<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>That’s essentially what we mean by bridging the gap between\ntraditional finance and crypto. Creating a balanced supply and demand. This is\nallow the crypto holders sustainable income and ensure the growth of the crypto\nindustry.<\/p>\n\n\n\n

Done ✅<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>Mass adoption in action! Are you\nready for last question of this part?<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>Yes let’s go.<\/p>\n\n\n\n

Q6 from Telegram User @Gutike95<\/em><\/strong><\/p>\n\n\n\n

Persistence is focusing on both\ninstitutional and native cryptographic use cases, but is it really with the\ngoal of being the transitional bridge between Cex and Dex? Or could you really\nkeep working both digital institutions and traditions over time?<\/em><\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>As I mentioned above Persistence is a suite of financial products\nwhich include DEXs, Marketplaces, Lending\/Borrowing applications.  <\/strong>Comdex\nfor example is a marketplace and have institutional users. In coming\nmonth we will launch pLend which is a Stablecoin aggregator (Liquidity product)\nwhich have two functions:<\/p>\n\n\n\n

– Allow the users of different dapps in the\nPersistence ecosystem (Asset Mantle, Comdex, pStake etc) to put their assets as\ncollateral and borrow stablecoins<\/p>\n\n\n\n

– Provide high-return for the liquidity\nproviders on their stablecoins<\/p>\n\n\n\n

So our approach is not to build just\nstandalone product which exist completely disconnected rather build products\nwhich can bring value to each other. Although, if any dapps wants to build in Persistence\necosystem in a completely siloed manner they can. So to conclude it\nwill  be combination of DEX +\nMarketplaces<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Before to the second part of the\nAMA, could you share with us details about the coming token sale? How to be\npart?<\/p>\n\n\n\n

Abhitej\nSingh | Persistence <\/strong>🦾: <\/strong>We have created a simple explainer: https:\/\/buff.ly\/31sqPmt<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>Thank you, it would make the\nprocess easier for our members interested on it 😃<\/p>\n\n\n\n

Andr\u00e9s\nM. | Satoshi Club: <\/strong>@abhitejsingh thank you so much\nfor your time and for share your knowledge in this first part of the AMA, It\nhas been and exciting and interesting segment🥳👏<\/p>\n\n\n\n

Gold\nRocket | Satoshi Club: <\/strong>I understand correctly? here\nare the main products you offer: comdex, audit, pstake, asset mantle and plend.<\/p>\n\n\n\n

Abhitej Singh | Persistence 🦾: <\/strong>Yes these are the products we have publicly communicated. There are more under development in the background.<\/p>\n\n\n\n

Part 2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n

Q1 from Telegram User<\/strong><\/em> <\/strong><\/em>@fromabove6<\/strong><\/em><\/em><\/strong><\/p>\n\n\n\n

What\nsets you apart from your competitors?<\/em><\/p>\n\n\n\n

Abhitej Singh | Persistence <\/strong>🦾<\/strong>:<\/strong> As I mentioned, the greatest\nadvantage for Persistence over the competition is the unique position of\noperating at the confluence of PoS + NFTs + PoS staking. <\/p>\n\n\n\n

We have already built 4\nproducts, namely:<\/p>\n\n\n\n

– Comdex – Decentralised\nCommodity Trading Marketplace with more than $55 Million in Transaction volume <\/p>\n\n\n\n

– AUDIT.one – Validator arm\nof Persistence.one with more than $125 Million worth of assets under delegation\n<\/p>\n\n\n\n

– pSTake – Liquid Staking\nplatform with best returns and user experience for the PoS stakers <\/p>\n\n\n\n

– Asset Mantle: NFT\nMarketplace framework which will allow any user to spin up their own NFT\nmarketplace – Shopify of NFTs<\/p>\n\n\n\n

Some of the other advantages\nare:<\/p>\n\n\n\n

– One of the best validator\nset in the industry<\/p>\n\n\n\n

– Strong partnerships with\nleading crypto foundations, protocols, networks as well as large traditional\ninstitutions. <\/p>\n\n\n\n

– Persistence is building\nall layers – network, SDK and application layer which cut down on any external\ndependencies <\/p>\n\n\n\n

– The token utility rewards all the $XPRT holders from the cash flow from all the applications in the ecosystem<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

Q<\/strong><\/em>2 from Telegram User<\/strong><\/em> <\/strong><\/em>@meml97<\/strong><\/em><\/em><\/strong><\/p>\n\n\n\n

🧨     Since your token sale on AscendEX is\nbarely a few days away, can you tell us more about your token $XPTR? I read\nthat it\u2019s main function is being a token governance for the Persistance\nPlatform, but can you give us more details about how will it be useful for users\nthat want to participate in governance decisions? Also, what other functions\nwill $XPTR have? Will it be a work utility token?<\/em><\/p>\n\n\n\n

Abhitej Singh | Persistence <\/strong>🦾<\/strong>:<\/strong> The token plays 3 keys\nroles:<\/p>\n\n\n\n

1. Staking token (similar to\nother Tendermint based chains like Band, Kava, Terra, Iris)<\/p>\n\n\n\n

2. Governance of the chain\n(not app) <\/p>\n\n\n\n

3. Work token (stakers and\ndelegators receive cashflows from the pStake and Comdex dApp as well as other\ndApps in the future)<\/p>\n\n\n\n

The biggest advantage is as the Persistence ecosystem grows (we are already working on shipping multiple projects) the value of $XPRT will grow. Hence providing immense ROI for the XPRT holders.<\/em><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

Here’s a simple illustration to understand the same.<\/em><\/p>\n\n\n\n

Q<\/strong><\/em>3 from Telegram User<\/strong><\/em> <\/strong><\/em>@lastcalll<\/strong><\/em><\/em><\/strong><\/p>\n\n\n\n

NFT\nis a good option for every project, how you will evaluate this option. Or do\nyou have other priorities?<\/em><\/p>\n\n\n\n

Abhitej Singh | Persistence <\/strong>🦾<\/strong>:<\/strong> Very good question, thank\nyou for bringing it up. <\/p>\n\n\n\n

Persistence has been working\non NFTs since 2019 even before the NFTs became so popular and hot topic. <\/p>\n\n\n\n

Our vision since inception\nhas been to operate on the confluence of NFTs + DeFi + PoS Staking. <\/p>\n\n\n\n

We are not swayed by the\ntrend but working on creating long-term value by developing utility for NFTs\nbeyond art and collectible, for example tokenising business invoices, ownership\ndocuments etc.<\/em><\/p>\n\n\n\n

Q<\/strong><\/em>4 from Telegram User<\/strong><\/em> <\/strong><\/em>@KeymerS<\/strong><\/em><\/em><\/strong><\/p>\n\n\n\n

Could\nyou really give us more detail on NFT Asset Mantle? Will it be totally\ninnovative or will it be very similar to the NFT Marketplace frameworks of many\nother platforms?<\/em><\/p>\n\n\n\n

Abhitej Singh | Persistence 🦾:<\/strong> In fact, Persistence executed the first cross-chain NFT transaction. Here is the article covered by Cosmos: https:\/\/blog.cosmos.network\/1st-non-standard-ibc-transaction-executed-by-persistence-2-2-79eb4397d48d<\/a><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

Currently we are leading the working group of 20+ projects to develop these standards that include Polkadot, Cosmos, Kusama, Akash Network, Secret Network etc. <\/p>\n\n\n\n

Q<\/strong><\/em>5 from Telegram User<\/strong><\/em> <\/strong><\/em>@feranno<\/strong><\/em><\/em><\/strong><\/p>\n\n\n\n

What\nconditions should I meet to participate in the public sale of XRPT?<\/em><\/p>\n\n\n\n

Abhitej Singh | Persistence <\/strong>🦾<\/strong>:<\/strong> You can see detailed\nrequirements and eligibility here: https:\/\/buff.ly\/3siaBIy<\/a><\/p>\n\n\n\n

https:\/\/bitmax.io\/en\/marketing\/xprt<\/a><\/p>\n\n\n\n

Q<\/strong><\/em>6 from Telegram User<\/strong><\/em> <\/strong><\/em>@moe_808<\/strong><\/em><\/em><\/strong><\/p>\n\n\n\n

🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥<\/em><\/p>\n\n\n\n

I\nread on your website that $XPRT  holders\ncan delelgate it for stacking, so no one except holders can stake on\npersistence network? How much is the apy % returning? @abhitejsingh<\/em><\/p>\n\n\n\n

🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥<\/em><\/p>\n\n\n\n

Abhitej Singh | Persistence <\/strong>🦾<\/strong>:<\/strong> #Persistence #Mainnet<\/p>\n\n\n\n

The Persistence Mainnet is\nLaunching on March 30th! Introducing Our World-Class Genesis Validators 🚀<\/p>\n\n\n\n

🦾 After more than two years\nof relentless ideation and development, we\u2019re thrilled to announce that the\nPersistence mainnet is going live tomorrow, March 30th, with 20 genesis\nvalidators! <\/p>\n\n\n\n

🔥 This will signal the\nofficial birth of the Persistence network and the next major milestone on our\njourney to usher in a new financial paradigm.<\/p>\n\n\n\n

🔒 Persistence has onboarded\nsome of the world\u2019s top validators, which collectively secure over $7B worth of\nassets across multiple networks. We are committed to ensuring the utmost\nsecurity and robustness of our network.<\/p>\n\n\n\n

💎 From April 1st, XPRT\nholders will be able to delegate their tokens to our validators for staking\n(35% APR in the first year).<\/p>\n\n\n\n

🌐 Read here to learn more\nabout our mainnet launch and to meet our world-class validators: https:\/\/buff.ly\/2P8iSRf<\/a><\/p>\n\n\n\n

We invite you to celebrate\nthis monumental occasion with us. Here\u2019s to the next exciting chapter in the\njourney of Persistence! 🥂<\/p>\n\n\n\n

🗣 Spread the word: https:\/\/twitter.com\/PersistenceOne\/status\/1376503676295069696<\/a><\/p>\n\n\n\n

The APR on XPRT staking will\nbe 35%.<\/p>\n\n\n\n

Q<\/strong><\/em>7 from Telegram User @centoscu<\/strong><\/em><\/em><\/strong><\/p>\n\n\n\n

I’d\nlike to learn about NEW Partnerships you made or about to make for Persistence?<\/em><\/p>\n\n\n\n

Abhitej Singh | Persistence <\/strong>🦾<\/strong>:<\/strong> Partnerships:<\/p>\n\n\n\n

Ecosystem:<\/p>\n\n\n\n

1. Terra:\nhttps:\/\/medium.com\/persistence-blog\/terra-and-persistence-announce-partnership-to-drive-adoption-via-a-token-swap-and-community-677df3d0f6e0<\/p>\n\n\n\n

2. Interchain Foundation:\nhttps:\/\/medium.com\/persistence-blog\/persistence-one-first-to-implement-interchain-native-nft-transfer-bags-icf-grant-cdb6c3856c25<\/p>\n\n\n\n

3. Razor Network:\nhttps:\/\/medium.com\/persistence-blog\/persistence-partners-with-razor-network-to-strengthen-both-parties-e92e538ad4b4<\/p>\n\n\n\n

4. Kava:\nhttps:\/\/twitter.com\/kava_labs\/status\/1357630049906794496?s=20<\/p>\n\n\n\n

AUDIT.one:<\/p>\n\n\n\n

1. Tendermint:\nhttps:\/\/medium.com\/persistence-blog\/tendermint-to-delegate-595-000-atoms-to-persistences-audit-one-97ddb47e01db<\/p>\n\n\n\n

2. Polygon (Previously Matic\nNetwork):\nhttps:\/\/blog.matic.network\/matic-network-validator-advisory-board-overseeing-the-advancement-of-a-secure-and-healthy-network\/<\/p>\n\n\n\n

3. Skale:\nhttps:\/\/skale.network\/blog\/validator-list-for-skale\/<\/p>\n\n\n\n

4. Injective: https:\/\/buff.ly\/2ZtasW4<\/p>\n\n\n\n

5. Marlin:\nhttps:\/\/twitter.com\/PersistenceOne\/status\/1339917327194857473<\/p>\n\n\n\n

StakeDrop:<\/p>\n\n\n\n

1. Trust Wallet:\nhttps:\/\/community.trustwallet.com\/t\/persistence-one-1000-in-xrpt-giveaway\/85990<\/p>\n\n\n\n

2. Cosmostation:\nhttps:\/\/medium.com\/persistence-blog\/cosmostation-wallet-adds-3-step-registration-for-persistence-stakedrop-a1223703c490<\/p>\n\n\n\n

3. StakingReawrds: https:\/\/medium.com\/persistence-blog\/additional-20-000-xprt-is-up-for-grabs-as-persistence-partners-with-the-staking-rewards-team-d1b21aa092ac<\/a><\/p>\n\n\n\n

+ AscendEX (Formerly Bitmax)\n[Token Adoption and Growth]: https:\/\/bitmax.io\/en\/marketing\/xprt<\/em><\/p>\n\n\n\n

Q<\/strong><\/em>8 from Telegram User<\/strong><\/em> <\/strong><\/em>@RosemaryBianco<\/strong><\/em><\/em><\/strong><\/p>\n\n\n\n

I\nreally found it interesting that you ran several “StakeDropp” campaigns\nto distribute your native XPRT tokens. So I would like to know, why you have\ndecided to do this distribution through Staking? campaigns. And what is the\nexisting relationship that Persistence has with these contributing projects? Do\nyou plan to integrate more projects in the future?<\/em><\/p>\n\n\n\n

Abhitej Singh | Persistence <\/strong>🦾<\/strong>:<\/strong> [In reply to Comr\u0251de |\nBlockT\u0251lks]<\/p>\n\n\n\n

All the 7 networks selected\nfor the StakeDrop campaign align with the long-term vision and objectives of\nPersistence. Some of the those are:<\/p>\n\n\n\n

♦️Tendermint-based chains:\nCosmos, Kava, Iris, Terra<\/p>\n\n\n\n

♦️Interoperability:\nPolkadot, Cosmos <\/p>\n\n\n\n

♦️DeFi: Kava, Terra, Iris<\/p>\n\n\n\n

♦️NFTs: Matic <\/p>\n\n\n\n

♦️Bridging traditional\nfinance and DeFi: Tezos <\/p>\n\n\n\n

The other key factors with\nthese networks that ensured the success of StakeDrop:<\/p>\n\n\n\n

♦️Geographically\ndistributed: Cosmos, Polkadot, Tezos (Global), Kava (the US), Iris (China),\nTerra (South Korea), Matic (India)<\/p>\n\n\n\n

♦️Significant market\ncapitalisation <\/p>\n\n\n\n

♦️Strong staking community\nwith high staking ratio on the network<\/p>\n\n\n\n

♦️Synergies to work with\nthese projects for Persistence ecosystem products such as pLend, pStake, Asset\nMantle<\/p>\n\n\n\n

In case someone wants more details:<\/p>\n\n\n\n

Currently we are running StakeDrop campaign to distribute 1% of our entire token supply. We have already completed the campaigns for Cosmos, Kava, Terra <\/p>\n\n\n\n

Ongoin: Matic<\/p>\n\n\n\n

Upcoming: Iris, Tezos, Polkadot <\/p>\n\n\n\n

You can find the details to participate in Matic StakeDrop\u00a0 here: https:\/\/youtu.be\/DXfL8KIdLAw<\/a><\/p>\n\n\n\n

Q<\/strong><\/em>9 from Telegram User<\/strong><\/em><\/p>\n\n\n\n

COMDEX will have what kind of commodities? gold, oil? and which oracle will then use to track the prices? <\/em><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

Abhitej Singh | Persistence 🦾:<\/strong> Currently we are using the institutional oracle solutions but we are seeing more and more crypto oracles such as Chainlink and Band Protocol are working on bringing real-world data on-chain. We will be working with similar oracles in future to get more decentralised data in our institutional or real-world focused dapps.<\/p>\n\n\n\n

Q10 from Telegram User @K2ice<\/strong><\/em><\/p>\n\n\n\n

The team has been busy building Persistence for the\npast two years. By now, there should have been some Influencers\/biggest minds\nin crypto delving into Persistence’s value propositions and future. Can you share\nwith us how you have been able to deal with this and what more should users\nexpect in the nearest future?<\/em><\/p>\n\n\n\n

Abhitej Singh | Persistence <\/strong>🦾<\/strong>:<\/strong> lot of influencers and\nindustry pioneers have been closely looking at Persistence and in touch with\nus. <\/p>\n\n\n\n

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. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n
\"\"<\/figure>\n\n\n\n

One of the video I could\nfetch to show the hype among the influencers:\nhttps:\/\/www.youtube.com\/watch?v=MuY3073171Q   Time and again we have been covered by the influencers\nas most anticipated project.<\/p>\n\n\n\n

Part 3 \u2013 Quiz Results<\/strong><\/h2>\n\n\n\n

In the final part we tested your knowledge in terms of Persistence. They\u2019ve prepared 4 questions for this part. The total reward pool for quiz was 300$.<\/p>\n\n\n\n

For more information and future AMAs, join our Social Media channels:
<\/strong>English Telegram group: https:\/\/t.me\/Satoshi_club<\/a>
Russian Telegram group: https:\/\/t.me\/satoshi_club_ru<\/a> Indonesian Telegram group: https:\/\/t.me\/satoshi_club_indonesia<\/a><\/p>\n\n\n\n

Spanish Telegram group: https:\/\/t.me\/satoshi_club_spanish<\/a>
Telegram Channel: https:\/\/t.me\/satoshi_club_channel<\/a>
Twitter: https:\/\/twitter.com\/realsatoshiclub<\/a>
Website: https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n

Our partners:<\/strong><\/p>\n\n\n\n

Persistence: https:\/\/persistence.one\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from Persistence. The AMA took place on March 29th, 2021, and our guest were @tusharaggarwal @abhitejsingh. The total reward pool was 500$ and was divided into three parts. In this AMA Recap, we […]<\/p>\n","protected":false},"author":34,"featured_media":7581,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/7580"}],"collection":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=7580"}],"version-history":[{"count":4,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/7580\/revisions"}],"predecessor-version":[{"id":7599,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/7580\/revisions\/7599"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media\/7581"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=7580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=7580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=7580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}