Persistence
Cosmos SDK
Persistence is a protocol that is built specifically for Decentralized Institutional Finance Applications. The architecture has three different layers to aid developers in creating solutions to traditional financial hurdles. Persistence aims to have a layer of decentralized financial applications with a level of interoperability that will allow for seamless transfers of value across borders.
APY | Coming soon |
Compounding | Manual |
Reward Distribution Period | Every block (~6 seconds) |
Unbonding Period | 21 Days |
Validator Self-Bond Requirement | 0 XPRT |
Inflation | 49% decreasing 6% every 6 months |
Figment Validator Address | persistence1snj8l8gguqncnzpzezvwe9rd2nhq6uagw3582m |
Recommended Wallet |
Double Signing | 5% |
Downtime | 0.01% |
If you haven’t already: create a Persistence wallet address with the Persistence’s native wallet here.
After clicking “Create Wallet,” a message will pop up. It’s a standard/ usual disclaimer that says users need to store their mnemonic seed securely. Like every other type of non-custodial wallets, don’t lose your seed phrase and don’t expose it to the internet.
The site will give you a seed phrase and ask you to verify it. After doing so, you will be able to create your wallet.
If you’ve already created a wallet, there is a button to select Import an Existing Wallet, and the page will prompt you to enter your Private Key or Mnemonic Phrase.
The website will create a wallet address for you and open up to your dashboard.
The second step to claiming StakeDrop rewards is sending a Magic Transaction from the wallet you used to stake your tokens. When sending the Magic Transaction, you will need to include your Persistence wallet address in the “Memo” field. If you do not do so, those tokens might be lost in the transaction and cannot be recovered.
The timeline for distribution of tokens from StakeDrops:
- 1.Cosmos: April 20th — May 15th
- 2.Kava: April 25th — May 20th
- 3.Terra: April 30th — May 25th
Your XPRT will be locked for six months after you receive it, and a portion will unlock linearly over that time. However, users can stake their tokens while they are locked!
You can find your vesting schedule by hoving your cursor over the little i next to vesting.
You can delegate your XPRT from Persistence’s Wallet. Head over to the staking interface by navigating to the top bar and clicking “Staking.”
From here, a complete list of validators is available.
Locate Figment on this list - our commission is 10%.
Click Delegate and add the amount you’d like to delegate to us. There is a transaction fee of 0.005xprt when delegating.
Enter your mnemonic phrase or use your private key and click delegate
Click “Delegate” and you will receive confirmation that your delegation has been processed.
That’s it!
If you are staking with Kelpr wallet and ledger, or just a ledger and CLI you can find our wallet address below.
Figment’s Wallet Address: persistence1snj8l8gguqncnzpzezvwe9rd2nhq6uagw3582m
XPRT holders will be allowed to participate in the protocol's governance by giving recommendations and deciding on different components which will affect the more extensive Persistence ecosystem.
What is staking?
On a Proof of Stake blockchain, staking is the act of depositing tokens in order to become a validator; that is, to participate in proposing and attesting to transaction blocks. Anyone with a minimum necessary coin balance can validate transactions and earn staking rewards on these blockchains.
What is the name of the asset being staked?
Persistence's native token, XPRT, is used to stake and to participate in on-chain governance.
Where can I explore the network and create a Persistence wallet?
Why Stake XPRT?
Initially, XPRT is staked to earn new issuance ("inflationary") subsidies. It means that the XPRT supply will increase, and stakers will capture the newly issued XPRT. Generally, you will earn around 35% annually on your staked XPRT, but that can change. Stakers will also capture fees from network transactions, and as Persistence transaction volume increases, Persistence stakers will earn more than new issuance subsidies. XPRT tokens also give stakers the right to vote on policy decisions on how the Persistence will operate and distribute treasury funds.
How long does it take to stake and unstake?
From the moment you initiate the unbonding process, it takes 21 days to unstake. During this time, you will not earn rewards. When the process is complete, you can transfer/trade your XPRT tokens.
How is staking income disbursed? Is staking income liquid or automatically staked?
Staking income on Persistence is automatically distributed every block. Figment is never in control of your rewards. Staking income is liquid, but you will need to claim it.
Can I lose potential staking rewards?
Your potential rewards depend on validator performance. When your validator is down, you will not earn staking income.
Can my staked XPRT be slashed (seized or destroyed)?
Yes, a portion of your staked XPRT tokens can be destroyed. There are two ways this can happen:
- 1.If you delegate to a validator that is offline for a certain amount of time (9,500/10,000 blocks), you will lose 0.01% of the tokens you have delegated to that validator.
- 2.If you delegate to a validator that signs the same block twice with the same key, you will lose 5% of the tokens you have delegated to that validator.
Figment insures our clients from slashing and has never had a slashing event.
What is the rate of new issuance (aka "annual inflation") for XPRT? How does the token supply change?
The new issuance ("inflation") rate is around 35% of the total supply. The network will cut its inflation in half every two years, and the maximum supply is expected to be reached by 2035.
What affects future yields?
Rewards come from new issuance ("inflationary") subsidies plus transaction fees, minus the commission fee, and . As the XPRT supply and network usage increases, stakers will capture the newly issued XPRT and receive more from the current transaction volume.
Stakers might earn around 35% annually on their staked amount of XPRT, but that will always be subject to the inflation rate, and both the network and validator’s performances.
Do I maintain custody of my XPRT tokens? Who or what controls my staked XPRT token?
Figment has partnerships with a number of top-in-class custodians. Please contact [email protected] for more inquiries. The Persistence protocol takes control of your XPRT tokens while you are staking. If you unbond your tokens, this process will take 21 days before the protocol returns your tokens to you. While your XPRT tokens are staked, you may participate in on-chain governance by voting on different proposals.
How are decisions about Persistence made and executed?
Persistence uses token voting for on-chain governance.
Last modified 5mo ago