StaFi Protocol Platform Products 2021
In this article, I will discuss what products have been made by StaFi Protocol during 2021. Before going to the topic of discussion, I will explain a little what StaFi Protocol
StaFi Protocol
StaFi (short for Staking Finance) is the First DeFi Protocol Unlocking Liquidity of Staked Asset , Stafi is a decentralized protocol that empowers liquidity. It encompasses 3 layers — bottom, contract and application layers. The bottom layer is mainly based on a blockchain system established by Substrate (which is a blockchain architecture developed by Parity, and the whole architecture integrates many development modules, including consensus module, P2P module, Staking module, etc.).
Since StaFi Protocol focuses on Staking Liquidity, there must be such a thing as Staking Products on their Platform and what are they?
1. rFIS
In January 2021 StaFi released the rFIS Staking product
(https://medium.com/stafi/rfis-officially-launched-stakingdrop-begins-51e8d85e5fc3 )
Where can we Staking FIS and get rFIS, where previously this FIS functioned as a utility, now it can be Staking, I can say this is StaFi’s first breakthrough in maintaining the power of their token, namely FIS which will later be used for Staking purposes in Their platform
rFIS also provides features that are really needed for Staking
Features of rFIS
1) The exchange rate of rFIS/FIS will gradually increase as Staking rewards are generated
2) Users can calculate the amount of rFIS obtained according to the rFIS exchange rate
3) rFIS can be circulated in DEX and CEX, and used in DeFi protocols. rFIS is also projected to be available on Ethereum, Polkadot and Cosmos blockchains through StaFi cross-chain bridge service
And rFIS also provides a solution you can see here
https://medium.com/stafi/rfis-officially-launched-stakingdrop-begins-51e8d85e5fc3
Reference
1)rFIS Product: https://rtoken.stafi.io/rfis
2)Staker Guide: https://docs.stafi.io/rtoken-app/rfis-solution/rfis-guide
3)OV Guide: https://docs.stafi.io/rtoken-app/rfis-solution/validator-testing-guide
4)OV recruitment:https://medium.com/stafi/stafi-rfis-original-validator-recruitment-campaign-b72aaa27636
5)rToken paper: https://docs.stafi.io/stafi-whitepaper/rtoken-paper
6)rFIS FAQ: https://docs.stafi.io/rtoken-app/rfis-solution/rfis-faq
7)rFIS Audit Report:https://github.com/stafiprotocol/stafi-bootstrap/blob/master/audits/rfis/peckshield-audit-report-stafi-node-v1.0.pdf
2. rETH
Actually rETH was planned by StaFi Protocol a year earlier but it is still in the tester, you can check it in the StaFi Protocol medium article https://medium.com/stafi/stakingderivative-for-eth2-0-is-live-on-testnet-join-reth-bug-bounty-and-win-fis-reward-4bbb14500bff
And just started to be released in February 2021
https://medium.com/stafi/reth-officially-launched-stakingdrop-begins-2db7a5020533
rETH is included in the Staking Product category created by StaFi Protocol
where is the function we can stake ETH and get rETH, with an unlocking system and without a minimum, as you know that Staking ETH originally had to have at least 32 ETH, this is why StaFi made rETH and the features provided by rETH are perfect for those who like staking
Features of rETH
1) The exchange rate of rETH/ETH will gradually increase as Staking rewards are generated.
2) Users can calculate the amount of rETH obtained according to the rETH exchange rate.
3) Before Ethereum 2.0 unstaking is available, rETH will not be redeemable, yet it represents the staked ETH principal as well as corresponding staking rewards. The StaFi chain and multi-signature staking contracts will ensure the security of funds staked.
4) rETH can be circulated in DEX, CEX and used in DeFi protocols. rETH is also projected to be available on Ethereum, Polkadot and Cosmos through StaFi’s cross-chain bridge service.
Reference
rETH Product: https://app.stafi.io/rAsset/home/native/erc
rETH/ETH Trading Pair:|https://v2.info.uniswap.org/pair/0x5f49da032defe35489ddb205f3dc66d8a76318b3rETH Staker Guide: https://docs.stafi.io/rtoken-app/reth-solution/staker-guide
rETH Validator Guide: https://docs.stafi.io/rtoken-app/reth-solution/original-validator-guide
rETH Solutions: https://docs.stafi.io/rtoken-app/reth-solutionrETH Q&A: https://docs.stafi.io/rtoken-app/reth-solution/faq
3.rDOT
In March 2021 StaFi gives Announcement to release rDOT
can be seen in the article https://medium.com/stafi/stafi-officially-announces-rdot-liquidity-solution-for-polkadot-staking-8227004b64f0
And only officially released on the mainnet in April 2021
https://medium.com/stafi/the-first-dot-liquid-staking-app-rdot-is-live-on-mainnet-now-578ab707ef85
As a member of the Polkadot ecosystem, StaFi is honored to contribute to the Polkadot family through the rDOT product and universal liquidity solution for the Substrate project.
rDOT is a decentralized DeFi product provided by StaFi that solves the DOT liquidity problem at stake on the Polkadot mainnet.
rDOT was released to help DOT holders and also serves as a solution to two common polkadot problems:
1) No need to wait for the long 28 day redemption period to transfer or trade staked DOT assets. rDOT product users can transfer and trade rDOT assets at any time to enjoy liquidity and hedge price risk.
2) There is no need to learn complicated NPoS consensus mechanisms and staking reward calculation rules if you want to maximize your staking income. With the rDOT product, users only need a few steps to deposit DOT into the rDOT contract, which will automatically select the best validator to delegate with a profit-maximizing strategy.
Reference
rDOT App: https://app.stafi.io/rDOT/type
rDOT Guide for Users:
https://docs.stafi.io/rtoken-app/rdot-solution/rdot-staker-guide
rDOT FAQ: https://docs.stafi.io/rtoken-app/rdot-solution/rdot-faq
rDOT Solution: https://docs.stafi.io/rtoken-app/rdot-solution
4.rKSM
In April 2021 StaFi also released rKSM. The StaFi rKSM App is a decentralized DeFi product that unlocks the liquidity of the Kusama token KSM Staking. so this rKSM is made for staking KSM which is
The purpose of the rKSM was released to assist KSM stakeholders and address the following two issues:
1)There is no need to wait for the long 7 day release period to transfer or trade staked KSM assets. rKSM App users can transfer and trade betting voucher rKSM tokens at any time on Uniswap to enjoy liquidity and hedging price risk.
2) No more need to learn the complicated Kusama NPoS consensus mechanism and staking reward calculation rules. With the rKSM App, users only need a few simple steps to deposit KSM into the rKSM contract, which will automatically select the best validator by executing the staking reward maximization strategy algorithm.
Reference
rKSM Solution : https://medium.com/stafi/liquid-staking-solution-rksm-has-been-live-on-mainnet-c6870a3fff2rKSM App: https://app.stafi.io/rKSM/home
rKSM Guide for Users: https://docs.stafi.io/rtoken-app/rksm-solution/staker-guide
rKSM Q&A: https://docs.stafi.io/rtoken-app/rksm-solution/rksm-faq
rBridge Guide of rKSM: https://docs.stafi.io/rtoken-app/rksm-solution/the-rbridge-guide-of-rksm
5.rATOM
Just like rOOT and rKSM in the same month, namely March 202, StaFi Protocol also created a rATOM solution and provided an overview in the StaFi medium article:
And in April 2021 StaFi officially released rATOM into its Mainnet Platform https://medium.com/stafi/the-first-atom-liquid-staking-app-ratom-is-live-on-mainnet-now-8af3a335b4ea
StaFi Protocol launched rATOM where rATOM functions to handle ATOM, such as rDOT and rKSM, this rATOM from the cosmos network aims to help ATOM holders and provide solutions to ATOM holders to solve two main problems:
1) There is no need to wait for the 21 day redemption period to transfer or trade staked ATOM assets. Users of rATOM products can transfer and trade rATOM assets at any time to free up liquidity and hedging price risk.
2) There’s no need to learn Tendermint’s complicated consensus mechanics or betting prize calculation rules if you want to maximize your betting rewards. With the rATOM product, users only need to follow a few steps to deposit ATOM into the rATOM contract, which will automatically select the best validator to delegate with a profit-maximizing strategy.
Reference
rATOM App: https://app.stafi.io/rATOM/homerATOM Guide for Users: https://docs.stafi.io/rtoken-app/ratom-solution/staker-guide
rATOM Solution: https://medium.com/stafi/stafi-officially-announces-ratom-liquidity-solution-for-cosmos-staking-91f2082cb46d
rATOM Swap Guide: https://docs.stafi.io/rtoken-app/rasset/swap-guide/ratom-swap-guide
rATOM FAQ: https://docs.stafi.io/rtoken-app/ratom-solution/ratom-faq
6. rMATIC
In July 2021 StaFi made an Announcement, StaFi was honored to win a Grant from the Polygon foundation, the first well-structured and easy-to-use platform for Ethereum scaling and infrastructure development. These funds will be used for research and development of rMATIC, the Polygon network liquidity betting solution provided by StaFi
And in August 2021, StaFi Protocol released rMATIC Liquidity Solution for Polygon which later rMATIC will provide solutions to MATIC holders and provide solutions and solve problems, especially in terms of staking liquidity MATIC on the Polygon network.
https://medium.com/stafi/stafi-officially-announces-rmatic-liquidity-solution-for-polygon-473e49a184f2
At the end of August 2021 StaFi Protocol finally officially released MATIC into its Mainnet Platform https://medium.com/stafi/stafi-launches-rmatic-stakingdrop-campaign-c6dba1a69560
at the same time creating the event “StaFi officially launch a StakingDrop campaign with 150,000 USDT valued FIS token Pool.” and the best part is that on March 1, 2022 through rMATIC App could have the chance to get the FIS token rewards.
Reference
rMATIC Portal: https://app.stafi.io/rMATICrMATIC Staker Guide: https://docs.stafi.io/rtoken-app/rmatic-solution/staker-guide
rMATIC Solutions: https://docs.stafi.io/rtoken-app/rmatic-solution
rMATIC Q&A: https://docs.stafi.io/rtoken-app/rmatic-solution/rmatic-faq
7.rBNB
In September 2021 StaFi Protocol announced it would release rBNB
roles such as rETH, rBNB, rFIS, rDOT, rKSM, rATOM and rMATIC
to provide solutions and solve staking liquidity problems for the Binance Chain community. https://medium.com/stafi/stafi-officially-announces-rbnb-liquidity-solution-921fcba90be7
the day after rBNB was officially released on the Mainnet Platform StaFi Protocol https://medium.com/stafi/stafi-will-launch-a-1-000-000-usdt-reward-pool-for-rbnb-app-users-8c2d2d8bf9a7
StaFi rBNB App has been launched after completing community testing and security audit. In order to incentivize BNB stakers to participate in rBNB App, StaFi officially launch a StakingDrop campaign with 1000,000 USDT valued FIS token Pool. Anyone who stakes BNB during the period from 12PM UTC, 17 September, 2021 to 12PM UTC, 17 March, 2022, through rBNB App could have the chance to get the FIS token rewards.
Reference
rBNB Portal: https://app.stafi.io/rBNBrBNB Staker Guide: https://docs.stafi.io/rtoken-app/rbnb-solution/staker-guide
rBNB Solutions: https://docs.stafi.io/rtoken-app/rbnb-solution
rBNB Q&A: https://docs.stafi.io/rtoken-app/rbnb-solution/rbnb-faq
8.rSOL
In the same month that is September 2021 StaFi Protocol
also released rSOL which aims to solve the staking liquidity problem for the Solana community. So this rSOL is a decentralized DeFi product produced by StaFi that solves the liquidity problem of staked SOL on Solana mainnet.
https://medium.com/stafi/stafi-officially-announces-rsol-liquidity-solution-for-solana-staking-733f64ca971e
rSOL token is a synthetic staking derivative issued by StaFi when users stake SOL through the StaFi rSOL App. rSOL tokens are anchored to the staked SOL assets and the corresponding staking rewards. rSOL tokens can be transferred and traded at any time.
rSOL App can help SOL stakers solve two major issues:
1) There will be no need to wait for a 3 days cooldown period to withdraw the staked SOL assets. rSOL App users can transfer and trade rSOL assets at any time to liberate liquidity and hedge price risks.
2) There is no need to learn the complicated Tower BFT consensus mechanism or staking reward calculation rules if you want to maximize staking rewards. With rSOL App, users only need to follow a few steps to deposit SOL into the rSOL contract, which will automatically select the best validator to delegate by the profit maximization strategy.
so during 2021 StaFi has provided a solution to the Staking liquidity problem for well-known Network Tokens as mentioned above by creating a Staking solution program for each token with a different network. BSC, ETH, COSMOS, KUSAMA POLKADOT, POLYGON, SOLANA in one platform for this year is extraordinary.
And lastly StaFi also released rSWAP in november 2021 StaFi Released rSwap APP on Mainnet https://medium.com/stafi/stafi-released-rswap-app-on-mainnet-9f6551459b53
StaFi just released the rSwap App on mainnet to help rToken holders to do the quick-swaps for native tokens by selling rTokens in an Exchange Rate Discount (ERD).
rSwap will support rATOM first, and now the exchange rate discount parameter is set at 90% according to the community polls both for rTokens holders and financial providers. Check the pools on the DAO forum.
In the near future, rSwap will support other rTokens like rBNB, rETH,etc..
What’s rSwap
rSwap is an Exchange-Rate Discounting (ERD) solution which serves as a supplementary way to solve the liquidity problem for rToken quick-swaps. rSwap enables rToken holders to get native tokens immediately with a discount on the rToken/Native Token on-chain exchange rate like traditional discounts on bills.
And this is the progress of the StaFi Protocol during 2021, in this article I focus on the StaFi rToken product, I really salute the StaFi Protocol team, in a year they have been able to make 8 solutions and implemented them in mainned proving the First DeFi Protocol Unlocking Liquidity of Staked Assets is true This has been proven true this year, and I’m sure there will be more surprises next year. For complete information about StaFi Protocol, you can check the link below
Website: www.stafi.io
rToken App: https://app.stafi.io
Twitter: @Stafi_Protocol
Telegram Chat: https://t.me/stafi_protocol
Telegram Announcements: https://t.me/stafi_ann
Discord: https://discord.com/invite/jB77etn
Forum: https://commonwealth.im/stafi