[Archives] Interchain Foundation awards Persistence One a grant to develop Interchain Standards for NFTs and Metadata

Note: Persistence has pivoted to liquid staking and building DeFi primitives to increase the utility for staked assets. This article is only for archive purposes. Refer to Persistence’s official blog for the latest updates.

We are thrilled to share with our community that the Interchain Foundation (ICF), a forerunner in decentralized technologies, awarded Persistence One a grant to develop Interchain Standards (ICS) for Non-Fungible Tokens (NFTs) and Metadata. Persistence One, with its strong expertise in building interchain operable technology, has been one of the most active contributors in the Cosmos ecosystem.

The Interchain Foundation has been leading efforts for the advancement of Interoperability which has recently become a major catalyst for the rapid growth of the cryptocurrency industry.

Persistence One’s mission is to bridge the gap between DeFi and Traditional finance by bringing in real-world assets on to the Blockchain. Real-world assets are tokenized using NFTs. These NFTs can then be used as collateral to borrow cryptoassets (stablecoins). Persistence One was one of the first teams to build out a native interchain NFT transfer.

Read the rest of this article on our official blog: https://bit.ly/3y880GE

About Persistence

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.

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