The Persistence project was designed as a real ecosystem for both regular users and major players who look to keep up with the latest developments in the DeFi space.
To reach this point, Persistence worked to launch several products and solutions which can be considered as the main pillars of the ecosystem.
We have Comdex - a commodities trading platform, Audit.one - a Staking-as-a-Service solution for PoS-based networks, pStake - a liquid staking service that allows users to obtain higher returns, and Asset Mantle - a platform dedicated to creators and users interested in NFTs.
At the heart of the Persistence ecosystem, we find the XPRT token that can be used by both retail and institutional investors to obtain high staking rewards with an expected yield of circa 35% per year. Let’s discover further on how we can use the Persistence Wallet to stake XPRT tokens and earn rewards.
How to stake XPRT with Persistence Wallet
What is the Persistence Wallet
Persistence wallet represents a secure method of storing, transferring, and staking XPRT tokens. With the Persistence wallet, users can benefit from a 35% APR by staking XPRT.
Though Persistence wallet is a web-based app, the platform has been designed to offer a high level of security inviting users to sign in via a Ledger, a Keplr wallet, or use a KeyStore File that contains the private keys and which can be downloaded by the user in a safe location.
How to set up a Persistence Wallet
To create a wallet, go to the Persistence Wallet website and click the ‘Create Wallet’ button. On the same page, you have the option to restore a previously created Persistence wallet by signing in or generating a KeyStore File.
A pop-up will appear containing information about the seed phrase that you are about to receive. It is vital that once you receive your seed phrase you store it in a safe place, preferably offline. Click Next to continue.
This is your Mnemonic (Seed Phrase) which you can copy by clicking the copy button. Once you’ve stored it someplace safe click Next to continue
In the following step, you will have to insert the missing words from the mnemonic phrase in order to verify it. Click Submit to continue.
Before clicking Next to continue, you will have to Generate a Keystore File which you will use to approve all transactions executed through your persistence wallet and to sign in into your wallet. To do this click on Generate Keystore File. Enter a strong password that you will remember and select Submit. This will download the Keystore File onto your computer, make sure you store it someplace safe. Click Done to return to the initial window. Now that you have downloaded the Keystore File you can move on by selecting Next. (You also have the option to choose advance but this an option for more experienced users, thus we will not select it).
You have created your Persistence wallet. The address displayed on your screen is your wallet address and it is the address you need to send XPRT tokens to in order to be able to stake them. Click Login so that you open up the main dashboard of your wallet.
How to send XPRT tokens to the Persistence Wallet
Before you engage in staking, you should purchase XPRT tokens or - if you’ve already done that - you need to send the tokens to the deposit address of your Persistence Wallet.
To do just that, open the Persistence Wallet and access the ‘Receive’ area in the middle of the window. You should now see the deposit address of your Persistence wallet. Click the copy button in order to copy the address to your clipboard or scan the QR code.
If you haven't purchased any XPRT tokens yet, you can acquire them on a centralized or decentralized exchange. You can verify the available Persistence markets on a crypto data aggregator that tracks cryptocurrencies.
As soon as you receive XPRT in your wallet, you can start staking your tokens and enjoy the benefits of increasing your investment value.
How to stake XPRT tokens with the Persistence Wallet
Open your Persistence Wallet and access the main interface. Select the Staking section at the top of the window.
Here you will see the list of available validators on the Persistence network. Scroll down the list until you find JECO and select Actions from the right-hand side of the window.
A popup window will appear on your screen. From the options displayed choose Delegate.
Enter the delegation amount and click on Submit. Remember to leave some XPRT in your wallet in order to cover for the gas fees.
Now you need to select the gas fee for this transaction (we recommend you choose Low or Zero). Once you’ve selected an option for the gas fee click Next.
Enter the password that you set for the Keystore File when you created your wallet and select Submit. In case you haven't uploaded your Keystore file do that before entering your password.
And that’s it. You managed to stake your XPRT tokens with JECO by using the Persistence wallet.
How to claim XPRT tokens with the Persistence Wallet
To claim your rewards in the Persistence wallet, access the main interface of the web-based wallet. Take a look at the top right corner of the page to see your staking rewards. Select the Claim option to access your XPRT rewards.
Now, select JECO from the dropdown list as the validator you want to claim your rewards from and click Next.
Select a gas fee for the transaction (we recommend that you choose Low or Zero) and click Next.
Enter your password and click Submit.
Staking rewards in the Persistence network are distributed every block - this means approximately 5 seconds - which concludes an APR of circa 35%.
Note: The rewards go directly to your wallet address and you can use them as you see fit. You can choose to store them in your wallet, send them to a trading platform, or place them into staking.
How to set up a different address for rewards withdrawal in Persistence wallet
Persistence wallet offers users the possibility to set up a different deposit address for the rewards withdrawal.
This way, you can choose to send the XPRT rewards to a different deposit address. For instance, the XPRT deposit address of an exchange, in case you want to use the rewards for trading purposes.
To perform this change, in the same main interface, select the Claim option, and in the pop-up window click Setup Address for Rewards Withdrawal.
Enter the address you wish to receive the rewards in under Revised Address and click Next.
Select a gas fee for the transaction (we recommend that you choose Low or Zero) and click Next.
Enter your password and click Submit.
How to unstake XPRT tokens in the Persistence Wallet
We have to emphasize that the unbonding process for XPRT tokens takes 21 days. During this time you will not receive any rewards and you’ll not be able to accelerate the unstaking operation.
To unstake your XPRT tokens, open the Persistence wallet main interface and go to the Staking section at the top of the window.
To see how much XPRT you have at stake, click ‘Delegated’
You will now see the validator that you are delegating to (in our case JECO), the delegated amount, and the status. Click on the ‘Actions’ button to proceed.
You should now see a pop-up with more information about JECO and several options. Choose Unbond to start the unstaking process.
Insert the amount of XPRT you wish to unbond and click ‘Submit’.
Select a gas fee for the transaction (we recommend that you choose Low or Zero) and click Next.
Enter your password and click Submit.
How to stake XPRT with Persistence and Keplr Wallets
What is the Keplr Wallet
Keplr is a wallet designed to work in the Cosmos Blockchain Communications (IBC) environment. Cosmos IBC is a complex system of stand-alone blockchain networks which can communicate with each other, allowing users to engage in an exchange of digital assets.
Keplr can be used as a browser extension allowing token holders to trade Cosmos-based cryptocurrencies and enabling users to connect to decentralized applications, such as DEXs where they can purchase cryptocurrencies that are not listed on centralized trading platforms.
The most important factor of the Keplr Wallet is that it can be used to engage in staking tokens that are in the Cosmos ecosystem.
Keplr Wallet is straightforward and accessible to both beginner and advanced users providing direct access to promising blockchains from the Cosmos ecosystem, such as Akash, Sentinel, Osmosis, Kava, and of course Persistence.
How to install Keplr
Keplr Wallet can easily be installed on your computer via Chrome web store.
Though the browser extension is designed to perform optimally in Google Chrome, 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 or App Store.
To begin 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. Once the installation is complete, you can access Keplr wallet from the browser extensions area and start creating your own wallet.
For more information on how you can create a Keplr wallet, check our dedicated article: Complete Guide of How To Stake XPRT (Persistence) With Keplr Wallet
Note: We recommend users to install Keplr Wallet from the official Chrome web store. Furthermore, token holders have to understand they are completely responsible for the security of their private keys or seed phrases.
How to connect the Persistence and Keplr wallets
Keplr is a browser extension that can be connected with the Persistence web-based wallet to engage in staking activities.
To connect the crypto wallets, you need to access https://wallet.persistence.one/ and choose Sign In from the top right corner of the window. A pop-up will appear with several options, select Use Keplr.
A Kepler Wallet pop-up will appear displaying a request for connection from the persistence web wallet. Select Approve to grant this request.
After approving the connection request, the link between Keplr Wallet Persistence web wallet will be complete.
You can now use your Keplr Wallet for staking XPRT via the Persistence web wallet.
How to stake XPRT with Keplr in Persistence
We will assume that you are connected to your Keplr and Persistence wallets. If not, go to the section How to connect the Persistence and Keplr wallets and reconnect the two crypto wallets before you proceed.
Now, once the two wallets are connected, the procedure of staking XPRT with Keplr in Persistence is almost identical to the one explained in the section above How to stake XPRT tokens with the Persistence Wallet.
To keep it short, you will have to access the main interface of your Persistence web wallet and access the Staking section at the top of the window.
Here you will find the list with the available validators on the Persistence Network. Scroll down the list until you find JECO and click on Actions.
A pop-up will appear with a short description of JECO and several options to choose from. Select Delegate.
Enter the amount you wish to delegate to JECO and click Submit.
A Keplr pop-up will appear with information regarding the gas fees. We recommend that you set the gas fee to average. To finish the delegation process set the transaction fee and click Approve.
How to claim XPRT rewards with Keplr in Persistence
We will assume that you are connected to the Persistence web wallet with your Keplr wallet. If not, go to the section How to connect the Persistence and Keplr wallets and connect the two crypto wallets to continue.
Now, the procedure of claiming your rewards into your Keplr wallet through the Persistence web wallet is almost identical with the one already explained above in section How to claim XPRT tokens with the Persistence Wallet.
To keep it short, you will have to access the main interface of your Persistence web wallet and select Claim from the top of the window.
Select JECO as the validator you wish to claim your rewards from and click on Next.
A Keplr pop-up will appear with information regarding the gas fees. We recommend that you set the gas fee to average. To finish claiming your rewards, set the transaction fee and click 'Approve'.
How to unstake XPRT with Keplr in Persistence
We will assume that your two wallets are connected. If not, go to the section How to connect the Persistence and Keplr wallets before moving to the next steps.
Now, once the two wallets are connected, the procedure of unstaking XPRT with Keplr in Persistence is almost identical to the one already explained in the section How to unstake XPRT in the Persistence Wallet.
Access the main dashboard of the Persistence wallet and click on Staking.
Click Delegated. You will now see the validator that you are delegating to (in our case JECO), the delegated amount, and the status. Click on the Actions button to proceed.
Choose ‘Unbond’ from the options displayed.
Enter the amount of XPRT tokens you wish to unbond from JECO under Unbonded Amount and click Submit.
A Keplr pop-up will appear with details regarding the transaction and information about the gas fees. Select Average as your gas fee and click on Approve. The unstaking period of 21 days begins once you click approve.
What are the risks when staking a Proof of Stake cryptocurrency?
Blockchain networks that are built on the Proof of Stake consensus mechanism emerged in an attempt to attract more of the general public to the crypto space and set up a more environmentally friendly method of verifying and accepting transactions.
These days, the Proof of Stake mechanism is considered a better solution for the future of cryptocurrencies, while Bitcoin’s Proof of Work protocol is seen as a technology that increases electricity consumption throughout the world.
However, Proof of Stake is far from perfect as some networks suffer from a lack of decentralization and are prone to various schemes in the market.
So, though it may seem like a great idea to hold a crypto token for a long time, you always need to understand the project you support before you invest financial resources.
Is it worth staking a particular cryptocurrency for several years? Will that cryptocurrency prove to be a real store of value?
In addition to this, you have to understand there are some technical risks when choosing a validator to stake your tokens. For instance, if the validator doesn’t manage to preserve a high level of uptime, a percentage of the staked tokens may be slashed.
It may be a soft slash for several hours of inactivity that results in losing 0.01% of the total tokens at stake, or it may be a hard slash in case of a double-sign event, which is something a lot more serious and the validator may lose around 5% of the tokens at stake.
To avoid any unwanted trouble with your staking, you have to do a bit of research on the selected validator. As with any other investment, as a user, you must be aware of all the risks involved and do your 'homework' before choosing to support a particular project or engage in staking activities.
If you are interested and want to learn more about Persistence, check our dedicated article about the network.
If you are unsure about how to purchase XPRT tokens, feel free to check our guide.
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Why choose JECO as a validator
JECO aims to become a reliable validator in the Persistence network by 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.
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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.
