Persistence utility token — $ XPRT is a token built on the Persistence ecosystem, thus staking XPRT to secure the chain will result in a great deal of exposure to multiple dApps in the ecosystem for stakers. $XPRT serves as the backbone of the Persistence ecosystem and can possess a lot of role in the cosmos ecosystem as well. During the past few weeks and the current, we have seen a lot of announcements regarding the TVL attained on most of its taking platforms, a few of them like Sifchain, AscendX, and the Keplrwallet with huge APR.
As a token gets a value, it must as well be used for something special, $XPRT will carry a variety of use cases within the Persistence ecosystem, including governance of the Persistence main-chain, participating in staking to contribute to network security, and its role as a work token. Let’s dive a bit into understanding what its use case will yield to users and stakers.
USES OF XPRT
- Governance: XPRT holders will be able to take part in protocol governance by issuing proposals and voting on various factors which will impact the broader Persistence ecosystem. In addition, XPRT holders will also contribute to decision-making.
- Staking: The persistence chain runs on delegated proof -of- stake based tendermint PBTF consensus engine, staking is integral to ensuring a secure and robust network. In addition, XPRT holders will be able to take part in protocol governance by issuing proposals and voting on various factors which will impact the broader Persistence ecosystem.
- Work Token: As a ‘work’ token, XPRT will also accrue value in direct correlation to increased financial activity within Persistence’s ecosystem dApps. Essentially, dApps on Persistence conduct business, and fees trickle down to the mainchain, bringing additional value for XPRT token holders — in direct correlation to the value being processed and exchanged
XPRT TOKEN DISTRIBUTION
The Persistence has been distributed in all areas to satisfy its use case. As a ‘work’ token, XPRT will also accrue value in direct correlation to increased financial activity within Persistence’s ecosystem dApps. Essentially, dApps on Persistence conduct business and fees trickle down to the mainchain, bringing additional value for XPRT token holders — in direct correlation to the value being processed and exchanged.100 million XPRT will be minted at the genesis and will be gradually released over the course of 42 months. Below are a few of the distributions made:
- Ecosystem Development & Growth: 19.4% (19,400,000 XPRT): fund the development of, and accelerate user adoption of, dApps within the Persistence ecosystem. This will include community grants to incentivize external developers to build new DApps on Persistence.
- Validator Incentivization: Incentivization is given to all validators on the Persistence ecosystem. Top-tier validators are rewarded for making liquid staking standards and these are done over a long term.
- Marketing and Growth: 4,000,000 XPRT will be unlocked at listing followed by 4,000,000 XPRT unlocking every 3 months (beginning from June 2021) until December 2021. 3,600,000 XPRT will be unlocked in March 2022, followed by 1,500,000 XPRT unlocking every 6 months thereafter until March 2024
Are you an early adopter of the cosmos ecosystem? You can look into Persistence as it is enabling exposure to multiple asset classes. $XPRT is tradeable in several exchanges like AscendX, Gate.io, and HuobiGlobal.
For more research on $XPRT, Navigate here: https://coinmarketcap.com/currencies/persistence/
Persistence is an interoperable protocol built to facilitate the creation of next-gen financial products. The Persistence tech stack provides the infrastructure to effectively bridge the realms of DeFi and traditional finance in various areas whilst also enabling the creation of innovative crypto-facing solutions to expand the DeFi and NFT sectors.
For More Information about Persistence:
Telegram Group: https://t.me/PersistenceOne