The Persistence Value-add
Persistence is an open-source protocol for developing next-generation financial solutions. The native token for Persistence is XPRT. Within the Persistence ecosystem, it will carry a range of use cases.
Furthermore, Persistence is a Protocol that supports Institutional Open Finance. Persistence acts as an intermediary between DeFi and traditional finance by allowing Cryptoassets to be borrowed with real-world assets as collateral.
Persistence went through a long process of inspiration, development, and iteration before gaining external verification via real-world deployments and growth. Before deciding to create the app-specific Persistence architecture, the team evaluated many existing Blockchain systems.
Principles of Design
1. Independence of the chain (to optimize for speed, security; privacy considerations)
2. Liquidity from Institutions and DeFi
3. Adaptability for business
Although dApps in the Persistence environment profit from chain sovereignty, Persistence's inherent interoperability allows them to access DeFi liquidity from various chains.
Simultaneously, as the Blockchain sector grows to solve real-world challenges, the elimination of the restrictions associated with using Public Blockchains enables commercial usefulness.
Persistence was designed with Institutional Open Finance's unique demands in mind. Persistence tackles several key factors that aid institutional adoption, including:
Identity
Institutional consumers are wary about disclosing their identities for a myriad of factors, such as avoiding abandoning alpha when trading. Moreover, in the event of a disagreement among counterparties or illegal conduct, identity must be verified.
Transaction information
Similar to identity privacy issues, transaction details must be handled privately to prevent alpha leaking.
Legal compliance
Validators sign Service Level Agreements (SLAs) concerning data privacy, access, and leakage. The Persistence SDK's 'Trader Onboarding' module interfaces with a variety of real-world third-party KYC/AML databases, with the results stored on the chain for irreversible storage.
Settlement
To manage fiat on/off ramp transactions, the Persistence SDK's 'Trade Settlement' module interfaces with regional banks and their payment interface. Each deposit and redemption transaction is mirrored on the chain with the transaction proof hash to ensure authenticity.
Relevant details:
1. Design that protects privacy
2. Legal compliance is built-in from the start (SLAs for data protection, access, and leakage, KYC/AML).
3. Integrations with regulated fiat on/off ramps that can handle institutional-level volumes with immediate resolution across jurisdictions
4. Gas, custody, key management, and other issues relating to public blockchains are abstracted.
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About Persistence
Persistence is an open-source protocol for developing next-generation financial solutions.
The Persistence technology stack enables the construction of novel crypto-facing products to extend the DeFi and NFT industries while also providing the framework to successfully link the worlds of DeFi and traditional finance in a variety of domains.
The Internet de-intermediated the Media & Communications business. The cost of information sharing has been considerably reduced by using HTTP, SMTP, and TCP/IP as the fundamental layers.
Persistence is utilizing blockchain technology to allow smooth asset exchange. Persistence intends to allow and build a portfolio of cutting-edge financial solutions in sectors ranging from staking-as-a-service and tokenized real-world debt to digital art using Web 3.0 protocols.