Persistence was designed to occupy an important part in the Cosmos ecosystem permitting all involved parties, from retail to major investors, to participate in the network governance process while enjoying the benefit of earning XPRT staking rewards.
XPRT acts as the native governance token of the Persistence network which large and small investors can place into staking by delegating XPRT to a validator of choice. Persistence supporters need to understand that choosing to stake XPRT brings not only immediate benefits but helps users secure the overall blockchain and have a say in the network evolution.
Let’s find out more details about the Persistence network.
Persistence in the blockchain industry
Persistence is based on the Proof of Stake consensus protocol and is part of the Cosmos ecosystem, one of the most representative blockchains today.
At the same time, the Persistence project was imagined to respond to both retail and institutional investors’ demands for higher staking rewards and better yield generating assets.
However, DeFi is still in an emerging phase as crypto developers and VCs struggle to find a reliable bridge between traditional finance and the blockchain-based decentralized applications that aim to offer a better return on investment.
Persistence took several steps to create a complete blockchain-based ecosystem via several products and solutions:
- Comdex - a commodities trading platform;
- Audit.one - a Staking as a Service service for PoS networks;
- pStake - a liquidity staking platform for users who want to generate additional yield on Ethereum;
- Asset Mantle - a cross-chain marketplace for NFTs.
Some of the most prominent Persistence supporters are VCs like Woodstock Capital, LuneX Ventures, Interchain, Terra, Incrypt, AU21 Capital and others. The advisor names include Sandeep Neilvall from Polygon, Ajit Tripathi from Aave and Sam Sutcliffe from Tendermint. Finally, we cannot emphasize enough the Cosmos network support for Persistence and its solutions.
Persistence arrived in the blockchain space to provide a reliable bridge between traditional finance and DeFi offering reduced cost of transactions, great speeds, and a high level of privacy and security. It is only natural to witness an increasing number of crypto enthusiasts looking to acquire XPRT tokens for trading and staking purposes.
Let’s discover the two main options users have when looking to purchase Persistence tokens.
Purchase Persistence (XPRT) tokens on a centralized exchange
Persistence tokens - XPRT - can be easily purchased from a centralized crypto exchange. Some of the most popular platforms that offer customers the possibility to acquire XPRT coins are: KuCoin, Huobi, AscendEX and Gate.io.
What you have to remember is that some of these centralized crypto exchanges may offer their services to a limited number of people, depending on the country. So, simply check with each exchange to see if you are allowed to create an account, deposit fiat or engage in trading.
Though there may be other smaller crypto exchanges offering XPRT buying options, you need to be aware that major exchanges provide a higher level of protection since their platforms have been time tested over the years. At the same time, a smaller exchange lacking the required trading volume may not be able to offer the best prices when selling or buying a digital asset.
So, check all these details before placing your financial resources into a centralized exchange. For instance, the centralized exchanges we displayed above - KuCoin, Huobi, AscendEX and Gate.io - do not have the permission to offer crypto-related services to US residents.
Purchase Persistence (XPRT) tokens on a decentralized exchange
Since we are talking about crypto, we have to mention that users from all over the world have the possibility to access decentralized exchanges where they can acquire cryptocurrencies without complying with the KYC demands of a centralized exchange.
In this case, Persistence enthusiasts can take advantage of a decentralized platform such as Osmosis to acquire XPRT tokens while employing a popular crypto wallet like Keplr.
Follow these steps to acquire XPRT tokens on Osmosis DEX via Keplr wallet.
1. Create an account on a centralized exchange platform
You can start by creating an account on a centralized exchange (it’s not mandatory to include XPRT buying options). Maybe you already have an account with Coinbase or Binance.
What 's important for that exchange is to offer customers the possibility to purchase Cosmos (ATOM) tokens, which you buy and send after that to the decentralized exchange via a popular crypto wallet like Keplr.
So, as soon as you finish creating your account, make sure you access the trading area and purchase some Cosmos (ATOM) tokens. You should see your coins inside your exchange wallet before proceeding to the next step.
2. Install and create a Keplr wallet
Keplr is one of the most popular crypto wallets in the Cosmos ecosystem.
Keplr can be used as a browser extension allowing token holders to trade Cosmos-based cryptocurrencies and enabling users to connect to decentralized exchanges where they can purchase cryptocurrencies that are not listed on centralized trading platforms (like Kraken, Coinbase or Binance).
Keplr Wallet is not only straightforward and accessible for both beginner and advanced users, but it provides direct access to several promising blockchains from the Cosmos ecosystem, such as Akash, Sentinel, Osmosis, Kava, and of course Persistence.
Probably, the most relevant element of the Keplr Wallet is that it can be used for engaging in staking operations permitting token holders to decide which validator is the right one for them.
Install Keplr wallet on your browser
Keplr Wallet can be easily installed on your computer via Chrome web store.
We have to emphasize that the browser extension is designed to perform optimally in Google Chrome, though it can equally be installed in the Brave browser. If you have a mobile device that runs on Android or iOS, you can look for Keplr Wallet app in Google Play Store and App Store.
To proceed with the installation process, access the Chrome web store and select Add to Chrome.
Follow the steps and add the Keplr wallet extension to your browser. As the installation completes, you can access Keplr wallet from the browser extensions area and start creating your own wallet.
Create your Keplr wallet
It’s simple to create a wallet in Keplr. Access the Keplr Wallet extension and choose one of the four options available:
- Sign in with Google
- Create new account
- Import existing account
- Import Ledger
Sign in with Google
First, you have to choose a name for your account and a password that is very difficult to be guessed by outside parties. You need to recall that we are talking about an important element of your financial security, so you need to make sure your password is more than 8 characters long and should contain a mix of numbers, case letters and special characters. It is essential to employ a strong password so that your account may be almost impossible to be accessed via hacking attempts or social engineering.
The next step is to connect your Google account by entering the email address and password.
That’s it! You managed to create your Keplr Wallet. Now, you can access the wallet to start trading or pursue any staking operations if you want to enjoy high rewards while securing the Persistence network.
Create new account
If you want to create a new account for your Keplr Wallet, you can select the corresponding option so that you may receive your Mnemonic Seed. Be careful not to keep it in an online location where it can be easily accessed by malicious software. To increase your security level, you can choose the 24 word mnemonic seed.
After saving your mnemonic seed in a safe place, you can add a name for your account and a strong password.
As a final step, you’ll have to enter your mnemonic seed phrase in the required sequence.
Select Register and you are done. Your Keplr Wallet is now ready to be used.
Import existing account
If you have already created a Keplr Wallet in the past and you still have your mnemonic seed phrase, you can decide to import the previous wallet.
Thus, just go for the ‘Import existing account’ option and enter the necessary details. Write your seed phrase in the required order, then choose a name and password for your Keplr Wallet.
The last option is to use your Ledger device to store and stake your XPRT tokens.
Choose a name for your account and a good password.
Now, the first thing you need to do is unlock your Ledger device and access the Cosmos app. Thus, you have to connect your Ledger device to your desktop and access the Ledger Live App, if it’s not already installed. Then you have to go to the Manager tab from the menu and access the Cosmos App.
Follow the instructions and find the Persistence app. Install it first before using it.
After installing the Persistence app, you can choose to use your Ledger device for sending, receiving and staking XPRT tokens.
Let’s see now how we can send some XPRT tokens to your Keplr Wallet address.
3. Send XPRT tokens to your Keplr wallet
Now, you need to send the Cosmos tokens you purchased in the centralized exchange to your Keplr deposit address.
To do this, open your Keplr wallet and select the Persistence network from the drop down list.
Now, access the Persistence network in your Keplr Wallet and copy the XPRT deposit address. That is the address where you can send your purchased tokens.
You can equally click the ‘Deposit’ button to copy the address or scan the available QR code in case you want to do so.
Now that you have your Keplr deposit address, go back into your centralized exchange wallet and send your Cosmos tokens to Keplr.
As soon as you receive Cosmos (ATOM) in your Keplr wallet, you should go to the following step and access the Osmosis decentralized exchange.
4. Access Osmosis decentralized exchange
Access Osmosis DEX and connect with your Keplr wallet.
If you connected your Keplr wallet to Osmosis, you should simply go to the ‘Trade’ section from the left hand side of the window and trade your ATOMs for XPRT.
And that’s it, you managed to acquire Persistence tokens on a decentralized trading platform.
Now, you need to remember that we are talking about a decentralized platform, so you don’t have a web-based wallet as you have on your centralized exchange (Binance for instance).
Your XPRT tokens remain in your Keplr wallet allowing you to engage in staking operations with your favorite validator.
Furthermore, you can equally benefit from the Osmosis platform to engage in yield farming on the available pools that include XPRT, such as ATOM/XPRT and XPRT/OSMO.
To find out more details about Persistence, check: Everything You Need to Know about Persistence (XPRT): Why It Matters
If you want to stake Persistence, access our: The Ultimate Guide on How to Buy Persistence (XPRT) Tokens
. . .
Why choose JECO as a validator
JECO aims to become a reliable validator in the Persistence network preserving high availability and providing top-notch security.
We chose Persistence after analyzing its core features and principles, and understanding how exactly this project delivers real value to its community and supporters.
Persistence convinced us to support its development as we checked its market value and we actually understood this project can bridge traditional and blockchain-based finance worlds acting as a magnet for retail and institutional players that are looking to secure their investments and engage in seamless exchange of digital assets.
We are driven to maintain a highly secure infrastructure for Proof of Stake projects that offer long term perspectives and sustainable staking rewards.
. . .
DISCLAIMER: This guide is not financial advice. Staking activities and cryptocurrency investment involve some degree of risk, and there is always the possibility of losing all digital assets. Furthermore, delegators are at risk of slashing in case of security or technical faults on the part of some validators who didn’t invest many resources in establishing a reliable infrastructure. We advise users to research the projects they want to support before investing.