Introducing Persistence — Focus on ‘Real-World’ Adoption!
Persistence is a Protocol powering Institutional Open Finance.
Persistence was started with the thesis of using Public Blockchain Technology and features of Decentralised & Open Finance (DeFi/OpFi) to solve inefficiencies in cross border payments and business financing. As a byproduct of solving these problems, Persistence aims to enable fundamentally new capital to enter the cryptocurrency industry.
Persistence bridges DeFi and Traditional finance by facilitating borrowing of Crypto Assets (stablecoins) using real-world assets (invoices to begin with) as collateral.
Persistence performs this in a four-step process:
- Tokenization of real-world assets (using Non-Fungible Tokens or NFTs) such as invoices
- Trading of tokenized real-world assets (represented by NFTs) against stablecoins
- Usage of these tokenized real-world assets (NFTs) as collateral to borrow stablecoins (originate loans)
- Packaging of the loans originated into tranches/pools to create fixed income investable products (securitization of debt)
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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.