The Bitcoin DeFi (BTCfi) sector has witnessed a surge of participants in recent years, each introducing its own versions of Bitcoin derivatives. However, a key obstacle remains: liquidity fragmentation across multiple BTC variants, such as WBTC, cbBTC, and sBTC. This fragmentation poses a significant challenge to BTCfi’s progress, as the complexity of swapping between these derivatives creates inefficiencies and hinders ecosystem growth.
BTCfi encompasses various Layer 2 protocols, sidechains, lending platforms, and innovative yield-generating solutions designed to improve Bitcoin’s scalability and programmability. Leveraging Bitcoin’s robust security, these advancements enable decentralized financial applications. Yet, the lack of interoperability between BTC derivatives restricts the sector’s full potential. Addressing this issue could unlock significant growth, potentially scaling the BTCfi market to a value exceeding $250 billion, similar to Ethereum’s DeFi market dominance.
In this context, Persistence One is tackling this challenge by developing a BTCfi Liquidity Hub. Focused on unifying liquidity across Bitcoin Layer 2s and BTC variants, Persistence reduces fragmentation while enabling seamless, low-slippage swaps. Through its native token $XPRT, and BTC-related assets on the Persistence DEX, the project positions itself as a key solution for consolidating liquidity in the expanding Bitcoin DeFi landscape.
What is Persistence?
Persistence V1, the first iteration of Persistence’s DEX, has served as a key liquidity hub for the BTCfi ecosystem for nearly two years. It has fostered liquidity for assets like XPRT, BTC, and BTCfi-related tokens, including those associated with Babylon. Building on this foundation, Persistence V2 is set to complement V1 by tackling Bitcoin’s liquidity fragmentation. It introduces fast, slippage-free cross-chain swaps for BTC derivatives and related assets, streamlining liquidity across the ecosystem and improving overall efficiency. The goal is to simplify asset exchange and enhance the user experience within the BTCfi space.
What powers this advancement is the use of “intents,” a technology that allows users to focus on the outcome they want, without worrying about the execution path. This design moves away from the traditional automated market maker (AMM) model, offering a more intuitive and efficient trading process. Persistence One aims to strengthen the Bitcoin ecosystem by delivering greater scalability and seamless interoperability, driving the BTCfi market toward a more unified future.
Persistence as a project is focused on expanding support for a broader range of tokens, laying the foundation for more advanced decentralized finance (DeFi) solutions, including DEX integrations that enable seamless any-to-any token swaps.
Here’s an overview of Persistence’s current product offerings:
Persistence V1: XPRT, BTC & BTCFi Swaps (Live)
- A decentralized exchange designed for efficient trading of $XPRT and BTC-related assets.
- Users can supply liquidity to earn swap fees and liquidity provider (LP) rewards.
- It acts as the primary liquidity hub for the $XPRT ecosystem.
Persistence Core-1 Chain (Live - soon secured by Bitcoin)
- The backbone of the Persistence ecosystem, built using the Cosmos Tech Stack.
- Operational for nearly 4 years, it will soon become one of the first Proof-of-Stake chains secured through Babylon’s Bitcoin Staking.
- It offers critical features like scalability, security, and interoperability, supporting diverse applications.
- The chain is equipped with user-friendly tools and infrastructure, including wallets and explorers, to facilitate seamless interaction within the ecosystem.
Persistence V2: Bitcoin Cross-Chain Swaps (Coming Soon)
- A flagship solution designed to deliver fast, zero-slippage swaps for Bitcoin assets across Bitcoin Layer 2 networks.
- Powered by intents technology, it ensures secure, intuitive, and efficient user transactions.
- It addresses liquidity fragmentation caused by the rapid expansion of Bitcoin Layer 2 ecosystems.
Persistence positions itself as a leading gateway for cross-chain BTC swaps through strategic partnerships and integrations with Web3 projects and tools like MetaMask, BitLayer, and BNB Chain.
Closed Beta Testnet Launch
Persistence One recently concluded a structured, phased closed beta testnet to improve the user experience and address initial feedback. This controlled rollout allowed the team to manage growing user activity efficiently while fine-tuning the product in response to real-time input. Each phase progressively scaled user volume, ensuring the platform’s readiness to deliver a resilient and polished interoperability solution within the BTCfi space.
Despite being a closed beta, the launch attracted over 5,000 users and generated valuable insights, laying the groundwork for a smoother and more optimized public open testnet experience.
Token Economy
Launched in April 2021, $XPRT is the native staking token of the Persistence Core-1 chain. It is designed to drive the growth of a dynamic DeFi ecosystem by enabling advanced use cases that go beyond traditional DeFi models. $XPRT supports ecosystem development, incentivizes adoption, and secures the network’s core infrastructure through staking. Additionally, $XPRT stakers can participate in governance, giving them a voice in shaping the network’s future and ensuring its long-term sustainability.
As the Persistence DEX integrates assets from various ecosystems, the Persistence Core-1 chain emerges as a central hub for inter-blockchain communication (IBC), driving seamless interoperability across networks. With its liquidity-centric design, $XPRT plays a pivotal role in fostering and incentivizing liquidity for BTCfi assets on the Persistence DEX, supporting the growth and efficiency of the broader ecosystem.
Team
Established by Tushar Aggarwal in 2019, Persistence is backed by 17 crypto-native professionals spanning Europe, the Middle East, and Asia. The team brings deep expertise in finance combined with strong business acumen to drive the project forward.
Beyond developing Persistence, the team is committed to increasing awareness around BTCfi. COO Jeroen Develter hosts a dedicated podcast, while their extensive educational blog provides insights into product updates and explores developments within the broader Bitcoin ecosystem.
What’s Next for Persistence
Persistence is preparing to amplify its visibility with a strong focus on solidifying its role within the BTCfi ecosystem. The team plans to introduce new assets to the Persistence DEX, further expanding trading opportunities across the Bitcoin landscape.
Moreover, Persistence One will harness its intent-based infrastructure to enable seamless cross-chain swaps for synthetic BTC, addressing liquidity challenges and improving accessibility for BTCfi users.
Learn more about Persistence:
🌐 Website: persistence.one
🐦 Twitter: x.com/PersistenceOne
🕹️ Discord: discord.com/invite/vyvp3scWnH
📖 Telegram: t.me/persistenceone
✍️ Blog: blog.persistence.one
