Persistence: Revolutionizing Bitcoin Interoperability

The Bitcoin DeFi (BTCfi) ecosystem has experienced rapid growth, with numerous players introducing Bitcoin derivatives in recent years. However, a critical obstacle persists: liquidity fragmentation across various Bitcoin derivatives, such as WBTC, cbBTC, and sBTC. This fragmentation complicates the process of swapping between different BTC variants, hindering the sector’s overall development.

BTCfi leverages Layer 2 protocols, sidechains, lending platforms, and innovative yield-generating solutions to improve Bitcoin’s scalability and programmability. These advancements enable the creation of decentralized financial applications while building on Bitcoin’s secure foundation. Interoperability has emerged as a key requirement for addressing liquidity fragmentation, simplifying BTC derivative swaps, and unlocking BTCfi’s growth potential. Resolving this challenge could position BTCfi to capture a market share comparable to Ethereum’s DeFi ecosystem, which is valued at over $250 billion.

Persistence One is at the forefront of solving liquidity fragmentation in the Bitcoin ecosystem. The project is developing a BTCfi Liquidity Hub to unify liquidity across Bitcoin Layer 2s and derivatives. By reducing fragmentation, Persistence establishes itself as a pivotal BTCfi Liquidity Hub, offering near zero-slippage, fast swaps for its native token $XPRT and BTC-related assets on the Persistence DEX.

What is Persistence? Products & Ecosystem

Persistence V1, the project’s flagship DEX, has been operational for nearly two years and serves as the hub for BTCfi liquidity. It has steadily built liquidity for XPRT, BTC, and other BTCfi-related tokens, including those linked to projects like Babylon. Building on this foundation, Persistence V2 is designed to connect with V1 and address Bitcoin’s liquidity fragmentation. It introduces fast, zero-slippage cross-chain swaps for all BTC-related assets, unifying BTC liquidity and enhancing overall ecosystem efficiency. The goal is to deliver a seamless experience for users exchanging BTC derivatives and related tokens.

At the core of this innovation lies the concept of “intents.” This technology allows users to define the desired transaction outcome without specifying the execution path, streamlining the trading process. This approach sets Persistence apart from traditional automated market maker (AMM) models, offering a unique and user-friendly trading experience.

Persistence One’s overarching mission is to advance the Bitcoin ecosystem by fostering greater interoperability and scalability, paving the way for a more unified and efficient BTCfi landscape.

Persistence aims to broaden its token support, facilitating the development of comprehensive decentralized finance (DeFi) applications, including integrating decentralized exchanges (DEXes) for seamless any-to-any swaps.

Here’s a detailed overview of Persistence’s product offerings:

Persistence V1: XPRT, BTC & BTCFi Swaps (Live)

• A decentralized exchange enabling efficient trading of $XPRT and BTC-related assets
• Allows users to provide liquidity and earn through swap fees and liquidity provider (LP) rewards
• Functions as the primary liquidity hub for the $XPRT token

Persistence Core-1 Chain (Live, Soon Secured by Bitcoin)

• Serves as the foundational infrastructure for the Persistence ecosystem, built on the Cosmos tech stack
• Operates smoothly for nearly four years and will soon be among the first Proof-of-Stake chains secured by Babylon Bitcoin Staking
• Offers critical features for scalability, security, and interoperability across applications
• Supports a range of tools and infrastructure, such as wallets and explorers, to enhance user interactions with the ecosystem

• Persistence V2: Bitcoin Cross-Chain Swaps (Coming Soon)
• The flagship product designed for fast, zero-slippage Bitcoin swaps across Bitcoin Layer 2s
• Powered by “intents,” a technology that ensures secure, user-friendly transactions
• Aims to address Bitcoin ecosystem fragmentation caused by the rapid expansion of Layer 2 solutions

Closed Beta Testnet Launch

Persistence One recently concluded a phased closed beta testnet, aimed at refining the user experience and addressing initial feedback. This structured approach allowed the team to effectively manage growing user engagement while iterating on the platform in real time. Each phase was designed to test the system’s scalability and performance with increasing user volumes, ensuring a more robust and polished interoperability solution for the BTCfi ecosystem.

Despite being a closed beta, the launch attracted over 5,000 users and generated valuable feedback, setting the stage for an improved experience in the upcoming public open testnet.

Token Economy

$XPRT, the native staking token of the Persistence Core-1 chain, launched in April 2021, plays a pivotal role in fostering the growth of the Persistence ecosystem. Designed to go beyond traditional DeFi primitives, it enables innovative use cases and supports the development of a robust DeFi ecosystem.

The token is integral to bootstrapping ecosystem applications, driving network adoption, and securing the core infrastructure through staking. Additionally, $XPRT stakers can actively participate in governance, shaping the network’s direction and ensuring its sustainability over the long term.

As the Persistence DEX draws assets from diverse ecosystems, the Persistence Core-1 chain establishes itself as an Inter-Blockchain Communication (IBC) hub, enhancing interoperability across the broader ecosystem. With its liquidity-focused architecture, $XPRT plays a vital role in bootstrapping and incentivizing liquidity for BTCfi assets, ensuring seamless functionality and growth within the Persistence DEX.

Team

Founded by Tushar Aggarwal in 2019, Persistence is driven by a team of 17 crypto-native professionals spread across Europe, the Middle East, and Asia. With a strong background in finance and solid business expertise, the team is well-equipped to navigate the evolving blockchain landscape.

In addition to developing Persistence, the team actively promotes awareness of BTCfi through various initiatives. This includes a podcast hosted by COO Jeroen Develter and a comprehensive educational blog that provides updates on their products and insights into the broader BTC ecosystem.

What’s Next for Persistence

Persistence is poised to increase its visibility within the BTCfi ecosystem significantly. The team plans to expand the Persistence DEX by introducing new assets and broadening trading opportunities across the Bitcoin ecosystem.

Looking ahead, Persistence One aims to harness its intent-based infrastructure to enable seamless cross-chain swaps for synthetic BTC. This initiative will address critical liquidity gaps and improve user accessibility, further solidifying its role in the BTCfi space.

Learn more about Persistence:

🌐 Website: persistence.one

🐦 Twitter: x.com/PersistenceOne

🕹️ Discord: discord.com/invite/vyvp3scWnH

📖 Telegram: t.me/persistenceone

✍️ Blog: blog.persistence.one