The CEO of Persistence, Tushar Aggarwal, discussed how the company is creating an ecosystem of next-generation financial products to suit both institutional investors and crypto-native customers in this interview. With that in mind, let’s talk about it………
Tushar Aggarwal introduced himself as an early member of LuneX Ventures, and the Founder and CEO of Persistence, a multi-chain DeFi ecosystem bringing different asset classes such as PoS assets and Commodity synthetics into DeFi.
He went further to describe Persistence and the services Persistence provides by mentioning that Persistence is an ecosystem of multi-chain DeFi products designed to stimulate global liquidity and enable seamless value exchange. Persistence is bringing different asset classes into DeFi through its products — Proof-of-Stake assets (pSTAKE), Commodities synthetic assets (Comdex) and NFT assets (Asset Mantle).
With confidence, he expressed that Persistence’s Core mainnet is a Proof-of-Stake chain powered by Tendermint BFT consensus engine. Persistence multi-chain tech stack (currently supporting Cosmos, Ethereum and other Tendermint-based chains) abstracts away the complexities for developers and enables them to create DEXs, marketplaces, lending/borrowing platforms etc. A division of Persistence is also working on developing inter-chain NFT and Metadata standards along with leading Proof-of-Stake networks/foundations.
He said that all the products of Persistence are/will be supported by the Persistence infrastructure in the background, along with bridges to Ethereum and Cosmos based on the application use-cases. Persistence is essentially a Tendermint-based chain and the Persistence SDK is based off of Cosmos SDK.
He described the purpose for which Persistence is merging financial products for both institutional and crypto-native users as follows;
In the crypto space, we’re living through a time where hyper financialization of the world is taking place. In that respect, with crypto, I think we see that on steroids, where a lot of retail folks end up doing a lot more due diligence than most of the institutional investors. Obviously, institutional investors have access to a lot of early-stage deals and things like that. A lot of activity is driven by retail as well. In terms of the difference we are making, we initially started building products for institutions but realized that there was a very grassroot bottom-up movement in crypto. So we’ve shifted our focus towards more retail and then using adoption by retail to drive institutional interest, because crypto is one unique asset class where if there is retail interest institutions come automatically.
He said that in terms of opportunities, certain things are just getting exposed to the XPRT token, which is currently trading on AscenDEX (previously BitMax), Gate.io and a newly launched decentralized exchange called Osmosis (within the Cosmos ecosystem). He assured us that Persistence will be trading on Gravity DEX, which is another decentralized exchange which is being launched by the Cosmos team and obviously in parallel we are doing listings on multiple other avenues to have a broad set of folks holding our token.
Finally, Tushar Aggarwal was asked to describe his team of financial experts and customer support and what makes him special, this is what he had to say:
“We have a team of about 32 people across the board. On the business side, where our teams are horizontal, we have teams including research, design, growth, marketing, compliance, and finance. So they work across the different products that we have. And then, the product team is more vertical, which means that each product has its sort of mini-CTO or product manager. And then whether you need developers on the Solidity side, Golang or Rust, just depending on which programming language they’re using for a particular product or if we need to evolve for a specific product, those guys kind of chip in for those specific products.”
For full detail of the interview, click below:
DeFi Products for Crypto Users; Interview with Tushar Aggarwal, Founder and CEO of Persistence
In this interview with Tushar Aggarwal, the CEO of Persistence, he shares more details on how Persistence is building…
Persistence - Medium
The month of June came and went in a flash, while our team forged new paths through the metaverse and pushed forward…
Persistence One Community Chat
Persistence One Community Chat 16 668 members, 770 online This is the official community chat of Perisistence One …