How to stake your $XPRT tokens with BlueStake, to help secure the Persistence network, and earn rewards.
Disclaimer: The information contained in this article and the resources available do not constitute financial advice and should not be construed as such.
What is Persistence?
Persistence is a blockchain protocol designed to facilitate seamless access to decentralized financial (DeFi) applications and services. It aims to bridge the gap between traditional finance (TradFi) and decentralized finance by enabling the tokenization of real-world assets. This allows these assets to be utilized in various DeFi applications, creating new opportunities for asset management and investment.
The protocol supports interoperability with multiple blockchain ecosystems, enhancing liquidity and accessibility for users. Persistence also emphasizes security and compliance, making it a trusted platform for integrating traditional financial sectors with the evolving world of DeFi.
Persistence’s decentralized governance model ensures that the platform’s development is community-driven, promoting transparency and inclusiveness.
The platform’s applications include lending, borrowing, staking, and yield farming, which are enhanced by leveraging tokenized assets. Real-world use cases of Persistence include commodity trading, invoice financing, and real estate tokenization, providing efficient and transparent processes and opening new investment opportunities.
In essence, Persistence aims to create a more inclusive and efficient financial ecosystem by merging the strengths of traditional and decentralized finance, supported by its focus on interoperability, asset tokenization, and robust DeFi applications.
Why stake my tokens?
Crypto-currency staking consists of locking native tokens (such as XPRT) into a Proof-of-Stake blockchain in order to secure the network. You earn rewards for doing so.
As soon as you stake your tokens, you start earning rewards every block. At any time, you will be able to claim your staking rewards directly on your wallet.
In addition, staking allows you to participate in the governance of the Persistence ecosystem, giving you a voice in key decisions and developments.
How to Stake my FET?
Staking your $XPRT tokens is a straightforward process. Follow these steps to get started:
- If you don’t have a Keplr Wallet, you can download it from the Google Chrome store.
- Create a new Wallet, or import an existing one using its mnemonic. You can follow our complete guide.
- Open wallet.keplr.app in your browser and connect your wallet. You can now find your wallet address at the top-right of the page:
4. Deposit your XPRT in Keplr Wallet from a centralized exchange (such as Huobi Global) or buy them on a decentralized exchange (such as Osmosis).
5. Search for the validator of your choice in the list, and click on it:
6. Next, a popup is displayed, allowing you to see validator information. Click on the “Stake” button:
7. Next, another popup allows you to choose the amount of XPRT you want to stake. Confirm by clicking the “Stake” button and sign the transaction with Keplr:
8. Congratulations, your XPRT tokens are now staked and generating rewards. You can claim them directly by clicking the “claim” button:
