Persistence One

<p><em>Persistence One partners with Kujira to integrate pSTAKE’s LSTs, starting with stkATOM, into the Kujira ecosystem.</em></p><p>With the exponential growth of liquid staking in DeFi, an increasing number of users are realizing the true potential of their LSTs. <a href="https://kujira.network/" rel="noopener noreferrer nofollow">Kujira</a> hosts a whole suite of products that provide services, such as lending, borrowing, leveraged trading, minting of USK (Stablecoin), liquidating collateralized loans, and many other use cases for various assets, including LSTs. <a href="https://persistence.one/" rel="noopener noreferrer nofollow">Persistence One</a> is building an economy around liquid staking (and <a href="https://blog.persistence.one/2024/02/07/persistence-one-to-bring-restaking-to-cosmos/" rel="noopener noreferrer nofollow">restaking</a>), helping users maximize the yield on their LSTs. Through this new partnership, Persistence One and Kujira join forces to integrate pSTAKE’s LSTs, such as stkATOM, into the Kujira ecosystem.</p><p>The first Lego piece towards this partnership is listing stkATOM as collateral on Ghost Money Market on Kujira. <a href="https://ghost.kujira.network/borrow?deposit&#61;ibc%2F086C1B2E9E611F23D3C9159C858D3F4C6A911D348DFB916A11AE306A865A77A8" rel="noopener noreferrer nofollow">stkATOM is now LIVE</a> on Ghost Protocol to borrow stablecoins such as USK (Kujira’s decentralized stablecoin) and USDC to access immediate liquidity in stables. Following this integration, USK minting using stkATOM as collateral will also be available. Integrations with the stablecoin ecosystems can help to propel the LSTfi economy in a big way. In the future, Persistence One also plans to integrate other pSTAKE-issued LSTs such as stkDYDX, stkXPRT, and more!</p><h2 id="header-0">Why Kujira?</h2><p>Kujira is empowering a decentralized economy for all and is one of the fastest-growing DeFi ecosystems in Cosmos. Kujira offers a complete base layer of high-quality, composable first-party products that allow users to participate in DeFi based on their risk appetite and expected return. With a TVL of  $170M&#43;, the Kujira ecosystem is a vibrant economic solution that offers 25&#43; protocols along with more than 20 integrations across the Cosmos space.</p><p><a href="https://ghost.kujira.network/borrow?deposit&#61;ibc%2F086C1B2E9E611F23D3C9159C858D3F4C6A911D348DFB916A11AE306A865A77A8&amp;borrow&#61;factory%2Fkujira1qk00h5atutpsv900x202pxx42npjr9thg58dnqpa72f2p7m2luase444a7%2Fuusk" rel="noopener noreferrer nofollow">Ghost</a> is Kujira&#39;s primary money market protocol that provides several financial products for users to borrow and lend against. With a current TVL of $51M&#43;, GHOST allows users to earn interest and obtain short-term operating capital at favourable rates. Kujira is home to various other dApps, including ORCA, a bidding platform for liquidated collateral, FIN,  first order book style DEX in Cosmos, BLUE, a dashboard for staking KUJI, executing cross-chain transfers, and participating in the governance process. The Kujira ecosystem also includes USK, a decentralized stablecoin that can be borrowed or minted by depositing collateral.</p><h2 id="header-1">Why pSTAKE?</h2><p><a href="https://pstake.finance/" rel="noopener noreferrer nofollow">pSTAKE</a>  is the premier liquid staking service provider on Persistence One that unlocks liquidity for your staked assets. With pSTAKE, you can securely stake your Proof-of-Stake (PoS) assets, participate in protocol improvements and security to earn staking rewards and receive staked underlying representative tokens (stkTokens), which can be used to explore additional yield opportunities across DeFi. pSTAKE Finance currently has a TVU of $10.6M and provides liquid staking for ATOM, DYDX, OSMO, and BNB to mint liquid staked representative tokens (stkTokens) that can be used in DeFi. stkATOM, issued by pSTAKE, is one of the hallmark liquid-staked assets on Persistence One.stkATOM is the liquid staked representative of ATOM through the pSTAKE protocol on the Persistence Core-1 chain. Persistence One is working relentlessly to integrate pSTAKE’s issued LSTs such as stkATOM into the entire Cosmos ecosystem.</p><h2 id="header-2">Synergies between Kujira and Persistence One</h2><p>As pSTAKE expands the utilities of its LSTs, this new integration of stkATOM as collateral via <a href="https://ghost.kujira.network/borrow?deposit&#61;ibc%2F086C1B2E9E611F23D3C9159C858D3F4C6A911D348DFB916A11AE306A865A77A8&amp;borrow&#61;factory%2Fkujira1qk00h5atutpsv900x202pxx42npjr9thg58dnqpa72f2p7m2luase444a7%2Fuusk" rel="noopener noreferrer nofollow">Ghost Money Market</a> on Kujira is a strategic next step that will help to increase liquidity and further develop use cases for stkATOM across the Cosmos ecosystem.</p><p>Kujira and Persistence One have been working towards developing user-friendly DeFi primitives for Cosmos assets and beyond. The integration of stkATOM on Kujira marks another milestone for both networks, as both ecosystems can complement each other to enable more innovative, user-friendly use cases that maximize yields for users. Overall, it will help to boost both ecosystems&#39; on-chain activity and TVL, bring in new users, and open gates for a plethora of other use cases.</p><blockquote>“We are thrilled to partner with Kujira to integrate stkATOM and other pSTAKE LSTs into the Kujira ecosystem. With a diverse range of product suites and one of the strongest communities, the Kujira ecosystem emerges as a clear choice, aligning with our overall strategy to expand stkATOM DeFi opportunities.” - Mikhil Pandey</blockquote><h2 id="header-3">About Persistence</h2><p>Persistence is a cosmos app chain for Liquid Staking and Restaking.</p><p>The Persistence core-1 chain hosts pSTAKE Finance–a multi-chain liquid staking protocol for issuing LSTs that allows users to earn staking rewards while participating in DeFi primitives, Dexter–the Interchain DEX for yield-generating assets like LSTs.</p><p>Persistence aims to offer a one-stop shop for liquid staking for PoS (Proof-of-Stake) users and enable developers to build innovative applications around LSTs.</p><p>Become a Persister today!</p><p><a href="https://twitter.com/PersistenceOne" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://www.linkedin.com/authwall?trk&#61;bf&amp;trkInfo&#61;AQEk1Ntvq-7y5wAAAY2xprDg2qw7KZ8VyFbxQuk7GgJEN8TfwjkP4A4sR--TFjkPwIjdVf3x1d7vVFPgoQNF6Wd5X3ykpPFKGtBSIB1uiFK_Fm6QBdSWLADM7IWoIEBBIZqWeDQ&#61;&amp;original_referer&#61;&amp;sessionRedirect&#61;https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fpersistenceone%2F" rel="noopener noreferrer nofollow">LinkedIn</a> | <a href="https://t.me/PersistenceOne" rel="noopener noreferrer nofollow">Telegram</a> | <a href="https://www.youtube.com/channel/UC5wqI1ZRdkCjWWVOCQdhxLQ" rel="noopener noreferrer nofollow">YouTube</a> | <a href="https://www.reddit.com/r/PersistenceOne/" rel="noopener noreferrer nofollow">Reddit</a> | hello&#64;persistence.one</p>

Persistence One x Kujira Partnership

Table of Contents

PersistenceOne

Other articles published on Feb 16, 2024

Nigeria’s Carbon Acquires Vella Finance to Launch AI-Powered SME Platform

VeChain Sees Strong Performance with Recent Developments

KeynesPay Secures $5.5M in Pre-Seed Funding to Revolutionize Virtual Asset Payments

AXIOMA TOKEN - MARKETING PARTNERSHIP WITH DXSALE

Kadena SpireKey Integrates with WebAuthn to Provide Seamless Web3 Interactions (16 Feb)

Quack Fun Enables Farcaster Access via Solana Wallets

Join our free newsletter for daily crypto updates!