[Archives] Cosmos StakeDrop Tutorial: How ATOM Holders Can Participate in StakeDrop
Our Cosmos Network StakeDrop campaign is fast approaching! Beginning on October 26th, ATOM holders will be able to earn an allocation of Persistence’s native XPRT tokens simply by staking their ATOMs on Cosmos Network.
If you are new to staking, this document will help you understand how to stake ATOMs to earn Cosmos staking rewards, in addition to XPRT tokens as part of our Cosmos Network StakeDrop campaign.
If you are already Staking your ATOMs with any active validator on Cosmos Network, you can earn XPRT tokens by simply making a ‘Magic Transaction’, which will register your participation in StakeDrop. We will discuss more about the Magic Transaction in the later stages of this document.
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Persistence is a Tendermint-based, specialised Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets.
Persistence facilitates the issuance and deployment of liquid-staked stkASSETs, allowing users to earn staking rewards while participating in DeFi primitives, such as lending/borrowing and liquidity provisioning on DEXs.
Persistence aims to offer a seamless staking and DeFi experience for PoS (Proof-of-Stake) users and enable developers to build innovative applications around stkASSETs.