On November 27, 2020, the team behind Persistence launched their second highly anticipated stakedrop campaign for KAVA staker. Participants of this staking program will be rewarded in $XPRT tokens, which are the native tokens of the Persistence platform. The Persistence stakedrop campaign should prove to be a very lucrative opportunity for holders of KAVA tokens if they chose to stake them. The team behind Persistence have stated the total pool of $XPRT tokens reserved for this stakedrop are 100,000 $XPRT, which is equivalent to $25,000 USD based on current estimates.
If you are new to staking, you should know that there are many additional benefits to staking as well. Apart from all the $XPRT tokens you stand to gain, by staking you can also get many other additional valuable tokens. The best part is you can get all these additional valuable tokens on top of all the $XPRT tokens you earn.
The Persistence One KAVA stakedrop has already begun, it went live back on November 27th. As mentioned by the team at Persistence this stakedrop campaign will only last a total of 3 weeks, which means there is less than a week left until it reaches completion.
If you did not get the chance to participate in the KAVA stakedrop event yet, it’s still not too late because you can join late. Just make sure to get into this stakedrop campaign before December 16th, and you should still be able to participate and earn some free $XPRT tokens.
According to the Persistence One website there are still 39,295 $XPRT tokens available for this particular stakedrop campaign. Considering that the total amount of $XPRT tokens reserved for this entire campaign were 100,000, and over 39,000 still remain unclaimed, it means that 39% of the total rewards are still available. To top it off the rate of rewards for Persistence stakedrop campaigns increases at a linearly rising slope, so the amount of $XPRT tokens being rewarded to stakers has actually increased. Just keep in mind that each unique participating wallet can only earn upto a maximum of 5000 $XPRT tokens.
How to Participate
To begin staking you will need to get any non-custodial that supports KAVA tokens and allows on-chain staking. Some great examples of non-custodial wallets that support KAVA tokens and allow on-chain staking are the Cosmostation wallet, Keplr, and Trust Wallet. It is very important to note that anyone who stakes KAVA tokens from an exchange will not be able to participate in any of the Persistence stakedrops, and will be excluded from all the $XPRT token rewards.
The Persistence One team mentions steps two small tasks that you will have to complete to begin participating in their KAVA stakedrop. The first task is to help you get started with staking on the KAVA network in general. The second task is required to start earning $XPRT tokens on top of all the other rewards you get from staking.
For the first task you simply have to begin staking your KAVA tokens, which if you are already doing then you can move on to the second task right away. In case you are not yet staking your KAVA tokens you can find all the steps the Persistence one team laid out here. If you plan on staking with Trust Wallet instead, you can find the guide for it here.
The second task will let you earn $XPRT tokens on top of all the other staking rewards. For the second task you will have to send a small transaction of 0.001 KAVA to the Persistence One address, which you will be able to find here on their website. Before sending this transaction make sure to put one of your ERC-20 addresses in the memo field, and then you can send the transaction. If you require the full guide on the second task, you can find it here. This is the same guide linked above, because steps for both tasks are laid out in the Persistence One blog post.