Tendermint to Delegate 595,000 ATOMs to Persistence’s AUDIT.one Validator to Strengthen the Cosmos Ecosystem
Earlier this year, Tendermint announced they would be re-evaluating their delegations of ~19,000,000 ATOMs which had previously been allocated to Cosmos validators in June 2019.
Essentially, Tendermint decided to re-delegate their ATOMs to the Cosmos validators which have been consistently adding value to the Cosmos network over time, in an effort to support the currently prominent network validators and thus push the Cosmos ecosystem forward.
This is a significant moment for the Cosmos community as Tendermint is a major stakeholder in the Cosmos ecosystem, having received 10% of the ATOMs launched at genesis in return for building the initial infrastructure of the Cosmos network and for delivering the feature set outlined in the Cosmos whitepaper.
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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.