The Pioneer of Liquid Staking in the Cosmos Ecosystem: The Innovations and Vision of Persistence Labs

Persistence Labs is a company focused on providing liquid staking services within the Cosmos ecosystem. The company's Chief Strategy Officer, Mikhil, stated that their mission is to address one of the biggest issues in the Cosmos ecosystem by providing liquidity for assets.

Mikhil entered the crypto industry in 2019, attracted by the vision of Cosmos. Persistence Chain is one of the earliest chains in the Cosmos ecosystem, aimed at building a dedicated Layer1 for asset liquidity. On this chain, users can lend, trade, and issue liquid staking assets.

Choosing the Cosmos ecosystem is due to its unique multi-chain characteristics. Unlike Ethereum, Cosmos allows each application to build on its own chain through its tech stack, avoiding the issue of competing for block space. In addition, Cosmos's IBC protocol enables trustless and permissionless cross-chain asset transfers.

The advantage of application chains lies in their ability to capture more value and provide higher customization. For example, dydx migrated from Ethereum to the Cosmos tech stack primarily to capture MEV profits. Application chains also allow project parties to independently decide how the chain and applications operate, achieving the highest level of customization.

Persistence's core product pSTAKE addresses the issue of liquidity shortage within the Cosmos ecosystem. After users stake Atom, they receive liquidity tokens stkAtom, which can be traded on Dexter and also used to participate in various DeFi yield projects. This allows users to simultaneously earn from staking and DeFi, significantly increasing the liquidity of Atom.

Compared to its competitors, Persistence's advantages include first-mover advantage, high security, and a good user experience. The company places a strong emphasis on decentralization, currently having over 60 validators, which is double that of its competitors.

Persistence's future plans include providing liquid staking services for other application chains in the Cosmos ecosystem and exploring expansion to other Layer1 ecosystems. The company places great importance on asset security and has invested significant resources in product development and auditing.

Looking to the future, Persistence Labs believes that liquidity tokens will become the foundational assets of DeFi, and liquid staking will drive the next wave of development in DeFi. The company plans to collaborate with more Cosmos applications, support more assets, and continue to improve user experience and conduct market education.

Persistence welcomes teams with a shared vision to build applications on its chain, especially those looking to develop applications related to liquid staking. The company looks forward to driving the development of the entire industry through collaboration.