Persistence: Bringing Staking Derivatives for PoS Tokens to Life

Tushar Aggarwal, Abhitej Singh, and Mikhil Pandey from the Persistence team come from an India tech background and have led efforts behind Cosmos India. In this episode, they cover a wide variety of new cross-chain Defi instruments that they’re launching for Cosmos and Ethereum. They announced a “stakedrop” to ATOM and XPRT holders where pATOMs were issued to users who had had their ATOMs staked at a given snapshot in time. We discuss the pSTAKE token at length, which acts as a staking derivative of otherwise illiquid staking tokens, e.g. ATOM. Staking derivatives are the next frontier we’re breaking through in the Proof-of-Stake, creating new liquidity out of otherwise bonded assets which will allow you to compound your staking rewards for greater Defi yields. You’ll get a crash course on these new Defi primitives that Persistence is bringing to the Interchain.