Razor Network Inks Partnership With Persistence
Razor Network is excited to announce the partnership with Persistence, the protocol powering institutional decentralized finance.
As Razor Network is steadily gaining traction in the crypto world, we have opened our doors to various partnerships. Strategic partnerships are core pillars of the long-term vision for our platform. We are proud to have collaborated with numerous blockchain industry pioneers like Matic Network and Skale. But we haven’t stopped there! Persistence is the latest addition to this list.
Razor Network Joins Forces With Persistence
We are ecstatic to announce a strategic partnership between Razor Network and Persistence.
Persistence is a platform that powers institutional open finance. This collaboration between Razor Network and Persistence aims to accelerate the growth of mainstream adoption of cryptocurrency by lenders, borrowers, and institutions, making it easier for them to leverage blockchain technology.
Persistence bridges the gap between traditional financial institutions and DeFi, helping solve real-world financing problems. This partnership will bring synergies together of both the platforms on multiple fronts –
- Persistence’s validator, Audit.One will join Razor as a validator — Persistence is continually working in tandem with prestigious blockchain industry players like Terra, Cosmos Station, etc. Apart from that, Persistence’s validator Audit.One has been a validator for various reputed dPoS chains. Before selecting a validator, we consider multiple factors. Every validator on our platform has been chosen only after meticulous investigation. Therefore, it is an honor for us to welcome Persistence’s validator, Audit.One, as a validator on Razor Network.
- Integrating Razor Oracles with Persistence — With Razor and Persistence coming together, Persistence’s global community of developers and users will be able to explore and get benefit from the future-driven technology of Razor Network. Razor will provide maximum game-theoretical security without compromising speed, thus creating the best user experience for the users on the Persistence platform. With the integration of Razors’ Decentralized Oracle Services, Persistence’ application developers will now be able to access verified data seamlessly. This will multi-fold the current capabilities of their ever-growing platform.
Combining both the platforms’ strengths will be a crucial milestone in building a promising decentralized future.
Background
There is a vast gap between appropriately matching the demand and supply of capital in the real world. Traditional finance institutions lack innovation to meet the needs of both borrowers as well as lenders. On one side, due to almost negligible interest rates, these traditional finance institutions fail to attract lenders.
On the other hand, MSMEs struggle to borrow, especially due to capital adequacy requirements imposed on financial institutions post the Global Financial Crisis. Therefore, they frequently struggle to obtain loans from centralized institutions. Persistence aims to fill this lacuna. By providing capital for the MSMEs, it will give these businesses a fair chance to grow and expand exponentially.
Persistence is a Protocol powering Institutional Open Finance. This innovative protocol facilitates the borrowing of crypto assets, mainly stablecoins, using real-world assets as collateral.
The stablecoin market is proliferating, and there will be a tremendous increase in the supply of borderless and instantly settled capital looking for new ways to generate yield. Increasing the speed and efficiency of real-world trade, payment, and business financing enables fundamentally new capital to enter the cryptocurrency industry.
Asset tokenization, asset exchange, and liquidity aggregation are the main features of Persistence. Persistence enables more efficient global capital allocation.
In a recent announcement, Tushar Aggarwal, CEO of Persistence, said,
“We’ve laid the technical groundwork for a new era of blockchain-powered real-world value creation, and we have built a strong network of strategic partners. It’s time to push ahead full-force on our mission to bring institutions and real-world assets to DeFi to help the industry to reach its full potential.”
However, to push forward its mission, Persistence needs a trustworthy, innovative, and reputed partner like Razor Network that provides decentralized oracle service to connect smart contracts with real-world data in a fast and secure manner.
Razor Network employs the PoS consensus algorithm and guarantees that nodes behave reliably by enforcing strict penalties in fraudulent or prohibited behavior. Razor Network has no single point of failure, which minimizes the risk exposure of users.
The oracle is the most critical piece of infrastructure for any decentralized finance project. With this integration, developers on the Persistence blockchain will always be assured that they can access external data with the highest security and speed.
Speaking about the partnership, Hrishikesh Huilgolkar, CEO of Razor Oracle Network, said,
“Persistence is committed towards its mission to correct the fundamental mismatch between borrowers and lenders. We are proud to be associated with this great initiative. We are assured that by joining us as a validator, Persistence will add on to the reputation and credibility of our network”.
Razor Network at a Glance
Razor Network is a decentralized oracle providing data to the smart contracts using a network of stakers. Razor is not only fast but also extraordinarily robust and economically secure. It offers a high degree of decentralization, thus reducing the risk of any fraud.
Due to its high economic security and a high degree of decentralization, Razor Network is exceptionally resilient to bribing attacks. Our platform continually evolves with the changing landscape and is always fully prepared to swiftly and smartly handle any adverse circumstances.
We are working on a next-gen oracle network. Please follow us on Github and Telegram for updates.
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