Once focused on Cosmos-based infrastructure, Persistence One has undergone a major strategic pivot — going all-in on Bitcoin interoperability. Its native token XPRT has plummeted over 99.96% from its all-time high of $16.57, but the team's “intent-based” cross-chain approach could unlock new possibilities for the BTC DeFi ecosystem.
Background: From Cosmos to Bitcoin
Persistence One was co-founded in Q2 2019 by Tushar Aggarwal and Deepanshu Tripathi, and launched publicly in January 2020. Initially focused on decentralized infrastructure, it launched its Core-1 mainnet (a Cosmos SDK-based Proof-of-Stake chain) in March 2021, with XPRT serving as the native token for staking, governance, and network security.
In July 2024, Persistence made a pivotal decision: fully pivot to Bitcoin DeFi. The team argued that Bitcoin is the most valuable crypto asset but remains grossly underutilized due to fragmented liquidity across chains. The new roadmap positions the project as “Bitcoin interoperability infrastructure,” led by CEO Jeroen Develter.
Core Mechanism: Intent-Based Cross-Chain
Unlike traditional bridges, Persistence One employs an intent-based mechanism. Users simply express an intent (e.g., “move assets from Bitcoin L2 X to Y”), and the system automatically handles routing, liquidity, and execution. Solvers compete to fulfill orders, while user funds are temporarily escrowed on the source chain and released after successful delivery. This design aims for fast, secure, near-zero slippage cross-chain swaps across Bitcoin L2s, sidechains, and BTC-aligned networks.
Persistence One describes its mission as “reducing fragmentation across the Bitcoin ecosystem and making cross-chain value transfer intuitive for users, developers, and partners.”
Tokenomics & Market Performance
XPRT is the core token of the Persistence ecosystem, used for transaction fees, staking and security, governance voting, and future BTC bridging fee rebates and boosted incentives. According to the source, as of May 25, 2026, the circulating supply is 213,368,953 XPRT, with a maximum supply of 403,308,352.
Price-wise, XPRT hit an all-time high of $16.57 and is now trading 99.96% lower. It has risen approximately 61.80% from its all-time low (near zero), indicating some bottom-fishing but still far from previous highs.
Market Impact Analysis
Persistence One’s pivot comes at a time when Bitcoin L2 ecosystems are booming. Projects like Stacks, Merlin, and Babylon have driven significant TVL growth, but cross-chain interoperability remains a bottleneck. The intent-based model offers lower slippage and higher efficiency compared to traditional bridges. If Persistence One can successfully attract a solver network and integrate major BTC L2s, XPRT may see real demand as gas and governance token.
However, the competition is fierce — LayerZero, Wormhole, and BTC-specific protocols like Atomix are already established. XPRT’s prolonged price decline has eroded community confidence, and rebuilding it will take time. The strategic shift from July 2024 still needs to prove itself over the next 6 to 12 months in terms of mainnet activity and developer progress.
Summary & Outlook
Persistence One’s bet is clear: make Bitcoin as easy to move in DeFi as ERC-20 tokens. XPRT holders can stake to participate in governance and earn cross-chain fee revenue. Against the backdrop of a rising BTCfi narrative, this reborn Cosmos project may yet carve a niche — if its technical execution and ecosystem partnerships deliver.