Persistence StakeDrop Guide
Stake $ATOM via Citadel to Get $XPRT StakeDrop!
In this article we will guide you through the process of Persistence StakeDrop and answer the following questions:
1. What is Persistence One?
2. What is StakeDrop?
3. How to participate?
Let’s begin!
What is Persistence One?
Persistence is a protocol powering institutional open finance by facilitating the borrowing of cryptoassets (stablecoins) using real-world assets, such as invoices, as collateral. This bridges DeFi and traditional finance and uses the features of DeFi to solve real-world financing problems.
What is StakeDrop?
StakeDrop is a token distribution mechanism designed to allow token holders of prominent PoS blockchains to receive an allocation of XPRT tokens simply by staking on their favourite network/s.
1,000,000 XPRT tokens will be distributed. Every unique participating wallet can earn up to a maximum of 5,000 XPRT tokens (max 5000 XPRT tokens for each ERC20 wallet address). The first StakeDrop campaign is with Cosmos Network.
How to participate?
To be eligible to participate in the StakeDrop you simply have to stake your $ATOM token with any non-custodial platform like citadel.one.
Watch this video:
Or check step by step guide:
- Get Citadel.one account:
Log in on citadel.one. Create Citadel-one seed wallet and choose Cosmos Network.
2. Get $ATOM:
If you don’t have $ATOM yet, you can purchase it directly from Citadel.one platform or use any exchange like Binance and send it to your Cosmos mainnet account on Citadel.
3. Stake $ATOM:
If you are not familiar with staking yet, don’t worry — it’s easy. Use our guide for Staking $ATOM. You can stake with any node you wish. If you stake with AUDIT.ONE, you can get additional tokens. Multiple node staking is also possible.
On citadel.one website go to Wallet tab and click on “Stake”. Choose nodes you wish to stake with, enter the amount of $ATOM you want to stake, click on “Stake” and confirm the transaction by inputting your wallet address.
4. Make Magic Transaction:
Confirm your participation by sending a ‘Magic Transaction’ (0.001 $ATOM) to a designated address provided on the StakeDrop page of Persistence website.
- On citadel.one website go to Wallet tab and click on “Send”.
- Insert Send Amount. Please enter “0.001” as the amount of ATOMs to be sent.
- Input the designated address provided on the StakeDrop page of Persistence website.
Designated address: cosmos1ea6cx6km3jmryax5aefq0vy5wrfcdqtaau4f22
4. Important! Insert your ERC20 wallet address (Ethereum 0x address) in the MEMO field. This field should not contain any text or additional characters. It should only contain your ERC20 wallet address.
If you don’t have ERC20 address yet, you can generate a new one by clicking “add wallet” -> “Create Citadel one-seed wallet” and choose “Ethereum Network”.
5. Click “Send” and confirm your transaction by inputting your wallet address.
You have now successfully registered your participation in Persistence’s Cosmos Network StakeDrop campaign! Congratulations!
The ERC20 address from your memo field will be the wallet in which you will receive your XPRT rewards. All XPRT rewards you have earned during the Cosmos Network StakeDrop campaign will be transferred to this wallet on token generation.
About Persistence One
Persistence is a protocol powering institutional open finance by facilitating the borrowing of cryptoassets (stablecoins) using real-world assets, such as invoices, as collateral. This bridges DeFi and traditional finance and uses the features of DeFi to solve real-world financing problems.
About Citadel
Get more from your staking!
Citadel is a non-custodial Proof-of-Stake platform for the management and storage of crypto assets. Users can create public addresses for all supported networks with one seed phrase, connect their Ledger or Trezor device, or import an address generated by another wallet.
The analytical dashboard provides relevant information on wallets’ balances and networks’ main metrics. In Citadel, we are standardizing the semantics, making interactions with the platform as easy as possible. The same goes for network metrics. By using universal terms, we are making it easier for users to understand and compare networks.
One of the main functions of the Citadel platform is participation in the PoS consensus — users can stake and delegate their assets, claim rewards, and follow the latest network proposals in the voting tab.
Citadel offers its users instant cryptocurrency exchange services that allow fast and secure crypto assets swap, and it is also possible to buy and sell crypto with a credit or debit card. Citadel users can track rewards, withdrawals, transfers and deposits across all supported networks and add comments to these transactions.
Among PoS platforms Citadel supports Secret Network ($SCRT), Cosmos ($ATOM), ICON ($ICX), IOST, Orbs, and Tezos ($XTZ). For our user’s convenience we also support Ethereum, Bitcoin, and Tether ($USDT). Mobile and desktop versions, new networks, including Polkadot and Ontology, are scheduled for the upcoming updates. Furthermore, delving into the idea of true decentralization we envision Citadel a decentralized autonomous organization and a truly community owned platform in the nearest future.
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