The persist ability triggers when the permanent is put into a graveyard. Its last known information (that is, how the creature last existed on the battlefield) is used to determine whether it had a -1/-1 counter on it.
Grazing Kelpie
If a creature with persist that has +1/+1 counters on it receives enough -1/-1 counters to cause it to be destroyed by lethal damage or put into its owner’s graveyard for having 0 or less toughness, persist won’t trigger and the card won’t return to the battlefield. That’s because persist checks the creature’s existence just before it leaves the battlefield, and it still has all those counters on it at that point.
When a permanent with persist returns to the battlefield, it’s a new object with no memory of or connection to its previous existence.
Magic: The Gathering · ™ & © Wizards of the Coast · Illus. Drew Tucker
Card data via Scryfall. Rarix is fan-made; not endorsed by the rights holders.
