DEV Community: Raphael

Staking Derivative Of Cosmos (rATOM) Is Live On Mainnet

Raphael — Sun, 30 May 2021 13:11:54 +0000

The StaFi team has released the rATOM App on mainnet, after multy-party testing. It's a solution to unlock the liquidty of Cosmos Staking Derivative.

ATOM holders can now stake ATOM tokens through the rATOM App. Not only can they obtain the maximized staking rewards, but also the rATOM tokens they get as the staking voucher can be freely transferred and traded on DEXes. Stakers can fully enjoy the real decentralized liquidity staking.

           Introduction To rATOM

StaFi rATOM App is a decentralized DeFi product that unclocks the liquidity of the Cosmos token ATOM staking.

rATOM token is a staking derivative of ATOM issued by StaFi when users stake ATOM through StaFi rATOM App. rATOM tokens are anchored to the staked ATOM and the corresponding staking reward. rATOM will bring the flexibility to trade at any time while still receiving staking rewards. With rATOM App, ATOM stakers could enjoy efficient liquidity and maximized staking rewards at the same time.

   Importance Of Using rATOM App to stake ATOM

rATOM App can help ATOM stakers to solve the following two problems:

1) There will be no need to wait for a long 21 day unbonding period to transfer or trade staked ATOM assets. rATOM App users can transfer and trade the staking voucher rATOM token at any time on Uniswap to enjoy liquidity and hedge price risks.

2) There is no need to learn the complicated Tendermint consensus mechanism of Cosmos and staking reward calculation rules any more. With rATOM App, users only need a few simple steps to deposit ATOM into the rATOM contract, which will automatically select the best validator by executing the Staking Reward Maximization strategy algorithm.

Staking Reward Maximization Strategy(SRMS Algorithm)

Now the estimated staking APY of ATOM staking on rATOM App is around 9.8% because of SRMS Algorithm:

1)Diversified delegation
The ATOM tokens deposited by the user will be distributed to several(N) mini staking pools. Parameter N will be set based on the scale of the total deposited funds. Each mini staking pool will then select several (M) best validators by executing the SRMS algorithm, so as to reduce the slashing occurrence probability from a single node.

2) Strictly select original validators candidates
In StaFi rATOM SRMS algorithm, it is very important to select the professional and high-quality validators to join as the Original Validators (OV), and ask them to set a reasonably low commission rate to provide higher APY for stakers. The rATOM App will monitor and evaluate the performance of original validator candidates from the metrics including active rate, slashing record, self-bond ratio, node identity, commission ratio, etc., to ensure that excellent validators with relatively low commission are selected.

3) Automatically delegate to the OVs with highest staking APY
The solution monitors OV’s on-chain data in real-time, such as commission ratio changes, commission volume ranking, slashing, off-line rate, and other indicators. This ensures that in each Era, the system selects the best OVs for delegation while simultaneously reinvesting profits.

4) Minimizes the potential loss when the OVs get slashed
When the system detects that the node is slashed or the online rate is lower than the standard, the rATOM staking contract will automatically initiate the redelegate operation and re-select other qualified validators for delegation.

            Commission and Fees

The relevant commission and fee parameters in rATOM App are following:

1) Stake ATOM: There is no commission but a service fee, called Relay Fee. The Relay fee is paid in StaFi mainnet FIS token(1.5 FIS for now) and for the related gas fee cost from the cross-chain bridge’s contract interaction between StaFi and Cosmos .

2) Unbond ATOM: Users need to pay a 0.2% redemption fee(based on how much rATOM tokens s/he wants to unbond) and 3 FIS for the Relay Fee.

3) Staking Reward Commission: 10% of your net staking reward( your total staking reward minus validator commission).

     The Circulation of rATOM tokens

rATOM tokens can be freely transferred and traded. So users can swap rATOM tokens into ERC-20 format at 1:1 ratio through rAsset App at any time, and then freely trade it on Uniswap.

About StaFi Protocol
StaFi is the first DeFi protocol unlocking liquidity of staked assets. Users can stake PoS tokens through StaFi and receive rTokens in return, which are available for trading, while still earning staking rewards. FIS is the native token on StaFi Chain. FIS is required to provide security to the network by staking, pay for transaction fees on the StaFi chain, and mint & redeem rTokens.
Website: www.stafi.io
rFIS Product: https://rtoken.stafi.io/rfis
rETH Product: https://rtoken.stafi.io/reth
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

StaFi Partners With WrapFi

Raphael — Sun, 30 May 2021 11:51:13 +0000

StaFi and WrapFi are working together to make their Assets and Networks become more fully compatible with each other and also to explore on interest-bearing tokens. StaFi’s system design introduces a staking voucher token called rToken, which is one kind of interest-bearing tokens.

This partnership unlocks the Two following user scenarios:

Joint Exploration in IBT DEX
WrapFi will cooperate with StaFi on exploring how to build a most-friendly DEX for Interest-bearing Tokens (IBTs), like jointly studying the price discovery mechanism of IBTs in current DEX and real exchange rate of the IBTs on original chain. We will leverage both sides’ expertise and experiences to make WrapFi Deisgn perfect for IBTs.
rTokens Integration in WrapFi
WrapFi is built for trading IBTs, and StaFi now has issued 5 IBTs(rETH, rFIS, rKSM, rDOT, rATOM), which cover the main PoS communities. So WrapFi will integrate StaFi’s rTokens as the first batch of IBTs on WrapFi. At the same time, StaFi will give advice on the strategic devlopment and community buiding of WrapFi.

WrapFi’s vision is to propose a universe solution for all mainstream IBTs through TMM algorithm, which will provide general standards, horizontally scaling somutions, and better pricing mechnism and trading liquidity for IBTs. In the future, WrapFi also will launch more IBT-based Apps, like management tools, etc., which will greatly improve capital utilization efficiency for IBTs community.

   WrapFi Will Conduct A Genesis Fair Launch

In order to achieve a complete Fair Launch, WRA Token will not raise funds from outside. Except for the Development Fund (10%) and Eco Fund (5%) for project development, the other 85% of the tokens will all be issued to the community as incentives. All they want to do is to truly encouragethe community to be committed to the development of WrapFi protocol and building IBT ecosystem.

Stage 1-rToken
In order to make the initial launch equally fair for everyone, we will initiate a Genesis Fair Launch Plan in which the 10% of WRA tokens will be airdropped to the community who contribute to this project.

WrapFi will officially release the WRA Token in 1 or 2 weeks, and start the Genesis airdrop on the same day. About who are entitled to get the airdrops:

1) rToken StakingDrop (1%)

● rToken Stakers. Those who want airdrop must mint and stake the following 5 rTokens in WrapFi Farming Pool: rFIS/rETH/rDOT/rKSM/rATOM.

● rETH Original Validators. Those OVs must successfully run nodes for rETH products from Genesis Time, and complete Onboarding.You could use this rETH OV guide to help onboard.

The WRA reward in rToken StakingDrop has no lock-ups. The Genesis time will be released in the next week, please stay tuned.

2) rToken UNI LP Farming Program (6.5%)
The UNI LP reward pool is as follows:
rETH/ETH: 1%
rFIS/ETH: 2%
rDOT/ETH: 1.5%
rKSM/ETH: 1%
rATOM/ETH: 1%

The mining campaign lasts for 2 months, and the WRA token reward will be distributed in 4 months

3) WRA UNI LP Farming Program (2.5%)
● WRA/ETH 2.5%

The mining campaign lasts for 2 months, and the WRA token reward will be distributed in 4 months

Stage2-other In Stage 2, they will incentivize other IBT tokens, such as cToken, ibETH, etc. WrapFi will release more details on this.

About WrapFi
WrapFi is the first specialized DEX for Interest-Bearing Tokens(IBTs) powered by TMM algorithm. Price discovery of IBTs on the current AMMs or PMMs not works well, and there always exsits a huge gap between the trading price on DEX and the real exchange rate. WrapFi creates an innovative Tracking Market Maker (TMM) algorithm to provide the most stable price and sufficient liquidity for IBTs.

StaFi's Integration Into Curve

Raphael — Sun, 30 May 2021 10:53:16 +0000

StaFi is a Substrate project that has it's focus on unlocking the liquidity of staked assets for three years. We have now released five liquid staking solutions for proof-of-stake projects, including Eth2, Polkadot, Kusama, Cosmos and StaFi.

The rETH token is a staking derivative of Eth2 issued by StaFi when users stake Ether (ETH) tokens through the StaFi rETH App.
The rETH tokens are anchored to staked ETH and the corresponding staking reward. They provide holders the flexibility to trade at any time while still receiving staking rewards. With the rETH App, Eth2 stakers will enjoy efficient liquidity and maximized staking rewards at the same time.

At present, 1,649 ETH, valued at around $5 million, is staked in the rETH contract. In order to provide the most profitable use cases for rETH holders, StaFi plans to be integrated into Curve, the largest decentralized exchange for trading wrapped tokens with similar values.

StaFi had raised a proposal on Curve DAO to add the rETH/ETH trading pair on April 30, 2021. During the listing proposal vote, StaFi got 6.51 million veCRV votes and passed the vote successfully. This is a great milestone for StaFi’s rToken integration into the top mainstream decentralized finance protocols.

StaFi has now initiated a 120,000-FIS tokens reward pool for Curve’s rETH/ETH liquidity providers, and the rETH/ETH pool APY has now crossed 455%.

             StaFi’s Partnership

Besides integration into Curve, StaFi is also working with other DeFi protocols to provide the best liquidity and user scenarios for its rToken holders. Examples include working with WrapFi and Stone to provide yield farming programs for rToken holders, working with Tidal to provide issuance for rToken users, working with Matic to explore layer-two solutions for rToken users, and so on.

StaFi believes that delivering an interest-bearing rToken service is only the first step. The liquidity dilemma of staked assets will not be fully resolved if rToken cannot be freely traded, exchanged or utilized in other financial applications. Therefore, StaFi will strive to create comprehensive use cases, such as a DEX, lending and synthetic assets for rTokens.

StaFi has also released five rToken solutions (as shown below) on mainnet, which is the most among all related projects:

rETH, liquid staking solution for Eth2 staking.
rFIS, liquid staking solution for StaFi FIS.
rDOT, liquid staking solution for Polkadot.
rKSM, liquid staking solution for Kusama.
rATOM, liquid staking solution for Cosmos.

Benefits Of Staking With StaFi
The StaFi rToken App can help PoS stakers to solve the following two problems:
No more unstake periods: There will be no need to wait for a long unbonding period to transfer or trade staked PoS assets. Users of the rToken App can transfer and trade the staking voucher rToken at any time on Uniswap to enjoy liquidity and hedge price risks.
Maximized staking rewards: There is no need to learn the complicated nominated proof-of-stake or Tendermint consensus mechanisms and the associated staking reward calculation rules anymore. With the rToken App, users only need a few simple steps to deposit PoS tokens into the rToken contract, which will automatically select the best validator by executing the staking reward maximization strategy algorithm.

About Curve Finance:
Curve Finance is an automated market maker protocol designed for swapping between stablecoins with low fees and slippage. It's a decentralized liquidity aggregator where anyone can add their assets to several different liquidity pools and earn fees.

About StaFi:
Stafi (short for Staking Finance) is a DeFi protocol that aims to unlock liquidity of staked assets. STAFI Protocol solves the contradiction between the token liquidity and Mainnet security by issuing ABT tokens, which provides the liquidity of your Staking Assets.

Staking Derivative Of Kusama (rKSM)

Raphael — Wed, 28 Apr 2021 18:01:15 +0000

StaFi protocol is the first protocol that created the staking derivative of kusama (KSM) thus unlocking the liquidity of staked KSM.

                 rKSM TOKEN

rKSM Token is a staking derivative of KSM issued by StaFi when users stake KSM through StaFi rKSM App. rKSM tokens are anchored to the staked KSM and the corresponding staking reward and they bring the flexibility to trade at any time while still receiving staking rewards. With rKSM App, KSM stakers could enjoy efficient liquidity and maximized staking rewards at the same time.

  WHY IT'S ADVISABLE TO STAKE KSM WITH rKSM APP

rKSM App can help KSM stakers to solve the following two problems:
1) There will be no need to wait for a long 7-day unbonding period to transfer or trade staked KSM assets. rKSM App users can transfer and trade the staking voucher rKSM token at any time on Uniswap to enjoy liquidity and hedge price risks.
2) There is no need to learn the complicated NPoS consensus mechanism of Kusama and staking reward calculation rules any more. With 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.

      STRATEGY TO MAXIMIZE STAKING REWARDS

Now the estimated staking APY of KSM staking on rKSM App is around 16%, which is 2% more than the averaged staking APY of the whole Kusama network because of SRMS Algorithm:

1) Diversified Delegation
The KSM tokens deposited by the user will be distributed to several(N) mini staking pools. Parameter N will be set based on the scale of the total deposited funds. Each mini staking pool will then select several (M) best validators by executing the SRMS algorithm, so as to reduce the slashing occurrence probability from a single node.
2)Strictly Select Original Validators candidates
In StaFi rKSM SRMS algorithm, it is very important to select the professional and high-quality validators to join as the Original Validators (OV), and ask them to set a reasonably low commission rate to provide higher APY for stakers. The rKSM App will monitor and evaluate the performance data of original validator candidates from the metrics including active rate, slashing record, self-bond ratio, node identity, commission ratio, etc., to ensure that excellent validators with relatively low commission are selected.
3) Original Validators Delegation Rules
Since Kusama adopts NPoS consensus mechanism, the staking income obtained by each elected node is the same in absolute amount. If two nodes are elected and one with more staked KSM, then stakers will get more rewards if they stake the other node (with less staked KSM).Therefore, each Mini Staking Contract Pool will follow this staking logic: rank all OVs by the number of staked KSM they obtained from low to high every 1Era (6H), and the top N OVs will be selected for nomination.
Note: The above-mentioned parameters M and N are all flexible.
Commission and Fees
The relevant commission and fee parameters in rKSM App are following:
1) Stake KSM: There is no commission but a service fee, called Relay Fee. The Relay fee is paid in StaFi mainnet FIS token(1.5 FIS for now) and for the related gas fee cost from the cross-chain bridge’s contract interaction between StaFi and Kusama .
2) Unbond KSM: Users need to pay a 0.2% redemption fee(based on how much rKSM tokens s/he wants to unbond) and 3 FIS for the Relay Fee.
3）Staking Reward Commission：10% of your net staking reward( your total staking reward minus validator commission).
Details check: https://docs.stafi.io/rproduct/commission-and-fee-parameters-in-rbridge-and-rtoken

The Circulation of rKSM Tokens
rKSM tokens can be freely transferred and traded. At present, StaFi team has initiated a trading pair of rKSM/ETH on Uniswap. So users can swap rKSM tokens into ERC-20 format at 1:1 ratio through rBridge at any time, and then freely trade it on Uniswap.

About Kusama
Kusama is a scalable network of specialized blockchains built using Substrate and nearly the same codebase as Polkadot. The network is an experimental development environment for teams who want to move fast and innovate on Kusama, or prepare for deployment on Polkadot.

About StaFi Protocol
StaFi is the first DeFi protocol unlocking liquidity of staked assets. Users can stake PoS tokens through StaFi and receive rTokens in return, which are available for trading, while still earning staking rewards. FIS is the native token on StaFi Chain. FIS is required to provide security to the network by staking, pay for transaction fees on the StaFi chain, and mint & redeem rTokens.
Website: www.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

rToken Management (rAsset App)

Raphael — Wed, 28 Apr 2021 16:56:11 +0000

StaFi has been working tirelessly on making sure their users are very much in control of their assets so they released the rToken management app.

           HOW rASSET APP WORKS

rAsset App is the dashboard product for rToken holders. So all the rToken holders could use rAsset App to manage their rToken assets, like knowing the amount of rTokens in the wallet, total values of held rTokens and redeemable native tokens etc..

At the same time, the cross-chain App rBridge has been integrated into rAsset App. So from now, the rToken holders could use the “Swap” function of rAsset App to swap rTokens between StaFi chain and Ethereum, then leverage “Trade” function of rAsset App to trade the ERC-20 wrapped rTokens on Uniswap directly.

StaFi will keep updating the rAsset App to make it more and more friendly UI/UX for all rToken holders.

About StaFi Protocol
StaFi is the first DeFi protocol unlocking liquidity of staked assets. Users can stake PoS tokens through StaFi and receive rTokens in return, which are available for trading, while still earning staking rewards. FIS is the native token on StaFi Chain. FIS is required to provide security to the network by staking, pay for transaction fees on the StaFi chain, and mint & redeem rTokens.
Website: www.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

The First Staking Derivative Of Polkadot

Raphael — Wed, 28 Apr 2021 16:27:35 +0000

Polkadot community has been excited over months on the news about the polkadot Staking derivates to solve the illiquidity problem faced by $DOT stakers. rDOT is a decentralized DeFi product provided by StaFi that solves the liquidity problem of staked DOT on Polkadot mainnet.

rDOT Token is a staking asset redemption certificate issued by StaFi to users when they stake DOT through StaFi rDOT product. rDOT tokens are anchored to the DOT assets staked by users and the corresponding staking income. rDOT tokens can be transferred and traded at any times as per the users’ convenience.

Therefore, rDOT product can help DOT stakers solve two prevalent problems:
1) There will be no need to wait for a 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 risks.

2) There is no need to learn the complicated NPoS consensus mechanism and staking reward calculation rules if you want to maximize staking revenue. With rDOT product, users only need a few steps to deposit DOT into the rDOT contract, which will automatically select the best validator for delegation by the profit maximization strategy.

          rDOT/DOT EXCHANGE RATE

StaFi will calculate the amount of rDOT which has to be issued to the user based on the current exchange rate between the amount of DOT deposited and rDOT when a user deposits DOT into the rDOT contracts. StaFi calculates the amount of redeemable DOT when a user holds rDOT based on the real-time staking income of DOT.

The rDOT exchange rate Ci grows with the increase in Staking income. It is determined by the total number of DOT locked in the staking contract Qstk, the total number of redeemed DOT Qred, the number of staking rewards Qrew, the number of slash Qslh, the commission rate Rcom, the total number of rDOT issued M, and the total number of burnt rDOT N. The calculation formula is as follows:

                rDOT VALUE

Through rDOT, StaFi solves the following problems for DOT staking users:

1) There is no need to worry about the liquidity of staked DOT. Users can trade rDOT on Uniswap at any time in the future.

2) The rDOT contract integrates a strategy for maximizing staking returns, which automatically selects a group of Original Validators with the highest returns on the chain for staking.

3) The current NPOS staking mechanism of the StaFi mainnet is rather complicated for ordinary stakers to learn, such as understanding the consensus mechanism, the maximum number of nominees that validators can have simultaneously, the determinants of reward, how to claim rewards, how to choose the best validators, and so forth. The rDOT product can maximize the staking return for users who want to stake on the DOT chain.

            rDOT PRODUCT PARTICIPANTS

About polkadot
Polkadot is built to connect private and consortium chains, public and permissionless networks, oracles, and future technologies that are yet to be created. Polkadot facilitates an internet where independent blockchains can exchange information and transactions in a trustless way via the Polkadot relay chain.

About StaFi Protocol
StaFi is the first DeFi protocol unlocking liquidity of staked assets. Users can stake PoS tokens through StaFi and receive rTokens in return, which are available for trading, while still earning staking rewards. FIS is the native token on StaFi Chain. FIS is required to provide security to the network by staking, pay for transaction fees on the StaFi chain, and mint & redeem rTokens.
Website: www.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

StaFi 2021Q2 Roadmap: rToken Apps Update, rDOT/rKSM/rATOM Launch, StakingDrop2, rSubstrate and rTendermint Booming

Raphael — Wed, 31 Mar 2021 22:43:01 +0000

StaFi 2021Q2 Roadmap: rDOT/rKSM/rATOM Launch, StakingDrop2, rSubstrate and rTendermint Booming

Introduction
rDOT and rKSM Apps are Live on Testnet Now

Stafi deployed a UI version of rDOT and rKSM Apps on the testnet Seiya now. Stafi welcomes the community to test and submit prospective bugs to win bug bounty.

furthermore, Stafi have invited CertiK team and third-party security expertise to work with us to make rDOT and rKSM contracts secured and authenticated. It is very essential to make all the prospective security bugs clarified, because the rDOT and rKSM contracts will aid StaFi develop the general and standardized solution for all the Substrate based projects.

In fact, rDOT and rKSM mainnet will go to market in April after all the security bugs are clarified.

rDOT and rKSM Apps are coming🚀

💻 rDOT Testnet:
https://test-rdot.stafi.io/rDOT/wallet

💻 rKSM Testnet:
https://test-rdot.stafi.io/rKSM/wallet

https://twitter.com/StaFi_Protocol/status/1377276484730068992

Reviewing Q1
At the first quarter of the new year, Stafi brought out the milestone rETH and rFIS App. He also made the two-way cross path linking StaFi Chain and Ethereum accessible. The improved version of rDOT/rKSM was launched same time. As for the marketing feasibilities, the native token of StaFi was successfully listed on two top-tier exchanges: Binance and Huobi Global. To our users, Stafi have created a myriad of Infographics about rToken, facilitating the community’s understanding of the ideology and mechanism of rToken in a more exciting and direct way.
previously, StaFi has made solid progress as far as the application of rToken products are concerned, with two rTokens brought out publicly. TVL lock-up value of the two products reached 31 million USD even without liquidity mining, which isnt an easy task to say the least.
On the other hand, Stafi have also realized that there are two challenges that needs to be tackled:
1)The types of rTokens are rather minimized, with only two being able to be accessed.
2)rTokens do not have liquidity in DEXes.
The first problem is an impediment to the flourishing rToken ecosystem, as rToken cannot be an important Staking Derivatives market player without a host of different rToken assets. In the mean time, the second issue will affect the adoption of rTokens, since Minting a circulated rToken certificate for users is just the beginning of the business. It’s all about the liquidity of rTokens. Only when rTokens are freely circulated with a consistent price, in secondary markets such as DEX, will the liquidity dilemma of Staker’s Staking assets be conclusively solved.
In the second quarter of 2021, StaFi will focus on these two problems. Stafi will solve them by promptly releasing more rToken Apps and improving the liquidity of rTokens in DEXes.
2021 Q2 Roadmap
rToken Development
Stafi plan to bring out rDOT/rATOM/rKSM in April, which is quite speedily worked upon. Amongst them, rDOT and rATOM will lay the solid foundation for the scale of rToken assets. They are believed to be the common solutions for the staking liquidity of Polkadot and Cosmos ecosystems respectively. Going forward, on the strength of the above two products, Stafi can quickly create rToken solutions for Substrate-based and Tendermint-based PoS projects. The category of rTokens will be enlarged in the near future.
In our planning, Stafi will launch 6 to 10 new rTokens in Q2, in other for it to be at most a dozen rTokens covering most of the mainstream PoS projects. The rToken product matrix will start taking shape.
rSubstrate Solution
StaFi plans to develop rSubstrate solution, which is a general solution that unlocks the staking liquidity for the Polkadot ecosystem projects. The solution will be specified on the rDOT App.
With the aid of rSubstrate, the engineering teams of Polkadot projects will save tons of time and energy, drastically enhancing efficiency. At the same time, Stafi is cooperating with projects which are involved in Polkadot Parachain auction PLO, such as Plasm, ChainX, and Equilibrium. Stafi will provide them with locked DOT liquidity solutions.
rTendermint Solution
StaFi plans to build rTendermint solution, which is a general solution that unlocks the staking liquidity for the Cosmos ecosystem projects. The solution will be specified on the rATOM App.
Using rTendermint, StaFi will promptly create rTokens for our Cosmos ecosystem partners including Terra, Band, Oasis, IRISnet, etc.
StakingDrop 2
To liberate the liquidity of rToken in the secondary market such as DEXes, StaFi plans to launch the rToken pair liquidity mining plan in Q2. The campaign is designed for users who support the liquidity for rToken pairs on Uniswap. Till now, Stafi have finished the product development and rule design of StakingDrop. The campaign will be launched after rDOT, rATOM, and rKSM are released.

Testing the Waters
Stafi will focus on rToken assets and liberating the liquidity of the rToken in the secondary market in Q2, but StaFi will also test some new innovations and tracks, such as providing liquidity solutions for projects such as Matic, a second-tier solution to Ethereum. For instance, Stafi will try to provide liquidity solutions to Uniswap V3 NFT LP tokens. We will also reach out to ecosystems other than Polkadot or Cosmos, like Solana, Near, Avalanche, etc.
Conclusively
In the second quarter, StaFi will put the expansion of the rToken category and StakingDrop2 high on our objectives. At the mean time, the team will also seize every chance to push forward the development of StaFi, developing a more prosperous Staking Derivative ecosystem. In Q2, 2021, the expanding effects of various rToken products, which will cover most mainstream PoS projects, will be very clear. Therefore, the next three months will be a critical period for StaFi protocol. Stafi hope that you can partake in building a brighter future for StaFi.

Website: www.stafi.io
rFIS Product: https://rtoken.stafi.io/rfis
rETH Product: https://rtoken.stafi.io/reth
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

StaFi Officially joins the Polkadot DAO Alliance Established by 11 Initiators

Raphael — Tue, 30 Mar 2021 18:35:17 +0000

About Polkadot DAO Alliance

The creation of the decentralized autonomous organization DAO has brought about an interesting unique concept on organization seeing it as the social group of gathering people together making collective efforts to achieving a common goal towards the realization of digital democracy and good decision making.
DAO has initiated a new organizational platform that is trustworthy, clarity, transparency, accessibility, interoperable, secured and composable features, to create an essential influence on how communication, coordination and allocation work in the polkadot environment. we greatly believe that DAO is the best platform for crypto society and of the economy.
here we bring forth the polkadot DAO alliance known as PDA an organization initiated by subDAO and joined together by highly established groups such as :Plasm, Phala, Stafi, Crust, Litentry, Bifrost, Patract, Darwina, Zenlink, and DeepDAO.
Polkadot DAO Alliance is a DAO alliance targeting to promote the growth & development of decentralized governance in the Polkadot ecosystem. The ultimate goal of PDA is to realize the true decentralization of Web 3.0.

Early-stage goal of PDA
PDA work ethics will rely solely on the following aspects such as:

DAO Infrastructure Development in Polkadot

PDA will provide DAO governance services and promotion of the development of DAO infrastructure for Polkadot and other ecosystems. The Alliance will create a DAO Ecosystem Development Fund with several million dollars to provide financial support for early-stage projects of DAO and Web 3.0.

Explore the Realization of DAO Governance

Aside from infrastructure, there will be other aspects to be explored in terms of the realization of DAO governance. For instance, in the early stage of Web 3.0, we would connect Web 2.0 with Web 3.0 quickly in a way that doesn’t bring harm to the decentralization.

Promote the Compliance Progress of DAO Globally

In the global promotion of DAO, it will be inevitable to face restrictions by local laws. Hence, it will be the priority of PDA to push the compliance progress of DAO globally and make it recognized and usable legally.

Polkadot DAO Alliance Online Summit

PDA will organize its first 2-day online summit, with two panels themed Democratic Governance on Polkadot and The Present and Future of DAO Governance, on Apr. 6 and Apr. 7 respectively.

More Events to Follow;
Meanwhile, PDA will hold series of online seminars for alliance members to evangelize DAO and exchange ideas. Each seminar will invite 2 PDA members and 1 mysterious guest to join. Furthermore, there will also be offline DAO Governance Summit annually in September and October organized by PDA, who will also publish a report on DAO Development Analysis of the year.
Polkadot DAO Alliance will be an open organization and we will welcome all teams, who recognize and support DAO, to join.

About StaFi protocol

StaFi is the first DeFi protocol unlocking liquidity of staked assets. Users can stake PoS tokens through StaFi and receive rTokens in return, which are available for trading, while still earning staking rewards. FIS is the native token on StaFi Chain. FIS is required to provide security to the network by staking, pay for transaction fees on the StaFi chain, and mint & redeem rTokens.

know more here:

SubDAO: https://twitter.com/subdao_network
Plasm：https://twitter.com/Plasm_Network
Phala: https://twitter.com/PhalaNetwork
Stafi: https://twitter.com/StaFi_Protocol
Crust: https://twitter.com/crustnetwork
Litentry: https://twitter.com/litentry
Bifrost: https://twitter.com/bifrost_finance
Patract: https://twitter.com/PatractLabs
Darwina: https://twitter.com/darwinianetwork
Zenlink: https://twitter.com/zenlinkpro
DeepDAO: https://twitter.com/deepdao_io

How to unbond your FIS on StaFI

Raphael — Mon, 29 Mar 2021 04:41:35 +0000

Unbond means refund part of FIS you delegated to nominators. This process will take you approximately 14 days/ two weeks.
this guide shows you how to unbond your FIS.

To unbond, click Unbond funds.

2.Confirm the Stash account you want to unbond and the corresponding Controller account, then fill in the amount of FIS , then click unbond

3.The transaction is initiated through Controller account. Confirm the account and fill in password, then click sign and submit

4.When you initiate Unbond, you have to wait for 14 days to get FIS back, please be noted!

StoneDeFi Join Hands With StaFi

Raphael — Mon, 15 Feb 2021 09:27:33 +0000

What is Stone?

Stone is a yield aggregation protocol that powers innovative yield generation strategies through liquid PoS staking. Following thorough review and research into the DeFi space, Stone has identified and crafted new farming strategies that tap into PoS farming, starting with staked ETH.
This means that Stone users will soon get exposure to yield opportunities in assets that are multiples the size of the current value locked in DeFi.

BENEFIT OF THE PARTNERSHIP TO THE BOTH COMMUNITY

StaFi and Stone both recognize the potential of interoperability and have been designing new products on substrate, anticipating new assets emerging on Polkadot Ecosystem. “So far over 50% of DOTs are staked and that is worth 10 billion USD with 28 days of unbounding. In addition, parachain auctions will make even more DOTs staked within the system for up to 2 years. There is a strong market need of making the staked DOT liquid.” Mentioned Alex Lam, “Stone aspires to build index products and other interest products on substrate to harness the abundance of cross-chain assets on Polkadot and provide easy access for average users to yield-bearing assets.”

Introduction of rETH onto Stone

rETH is a synthetic derivative asset issued to ETH stakers, that enables instant liquidity for the illiquid Ethereum 2.0 network. rETH can be redeemed from the StaFi platform for the stakers to keep in self-custody, trade on Uniswap or utilize in DeFi protocols to earn a yield.
Stone will support rETH in its farming strategy, providing rETH holders the best yields via liquidity provision and lending activities.
[StaFi is a generation platform of staking derivatives, rETH will solve the controversy between locking period and token dilution until phase1.5 of ETH2, integrated into STONE will bring a new use case for rETH holder, that’s yield farming, which make me excited] Said Liam Young, Founder of StaFi.

Accepting a staked asset in the DeFi space requires close scrutiny over the security of users’ funds and its credibility.
“StaFi is one of the early pioneers to develop the concept of liquid staking. At Stone, we are always actively looking for strong partners to complete the whole ecosystem of DeFi 2.0 — new assets, new strategies and new products. StaFi definitely brings new assets to allow Stone to develop new strategies and new products. We see the partnership going to be a super solid one to set the standards of how liquid staking yield farming shall be done in the future” commented Alex Lam, Project Lead at Stone.

Guide to StaFi rFIS and 2-way Bridge

Raphael — Tue, 26 Jan 2021 17:36:14 +0000

StaFi has been breaking glasses and smashing the ceiling. few days ago, after the launching of the their rFIS product and the two way rbridge, Stafi has recorded a lot of interests and recognition from the crypto space especially the earth community.
In order to incentivize FIS holders to participate in rFIS products, we will launch a StakingDrop incentive campaign for the rFIS product. From January 22 to January 30, 2021, stakers who participate in FIS staking by using the rFIS product could have the chance to receive the StakingDrop.

So incase you are still left out on this opportunity to get rewarded for holding FIS...Here is a guide that gives you the clear illustrations on how to participate.

Guide
The first two parts of the guide are mainly to explain the basic operations of PolkadotJS extension and Metamask wallet. Users who are familiar with the operations of it can skip to the FIS swap part.

Download and installation
This guide requires PolkadotJS extension and Metamask wallet.
PolkadotJS extension: https://chrome.google.com/webstore/detail/polkadot%7Bjs%7D-extension/mopnmbcafieddcagagdcbnhejhlodfdd(Chrome)
Metamask wallet: https://metamask.io/download.html

Then you can follow the prompts to import the StaFi and ETH accounts.

The connection of StaFi rProduct and extension

Connect Metamask and switch account

1.Connect ETH account

Enter the link: https://rtoken.stafi.io/rbridge, click "Connect to Metamask", and follow the prompts to connect successfully.
Note: The ETH account needs to be imported in advance.

2.Switch account

Sign 1: Choose "Ethereum Mainnet" here

Sign 2: Click to display all currently imported ETH accounts.

Sign 3: Select account. You can switch between different accounts. The account after switching will be displayed in StaFi rProduct.

Connect PolkadotJS and switch account

Connect StaFi account

Enter the link: https://rtoken.stafi.io/rbridge, click "Connect to PolkadotJS extension" and follow the prompts to connect successfully.

Note: StaFi accounts need to be imported in advance.

2.Switch account

Click Sign1 to display all the accounts that have been imported, select the account and click "Confirm" to switch successfully

Native to ERC20

Select "rBridge"-"Native to ERC20", enter the number of FIS and the ETH address that need to be swapped. The second column automatically displays the number of swapped FIS , the number of FIS before and after conversion is the same. Click "Swap"

Estimate Fee shows the commission for the operation, which will be deducted from the StaFi account. So it is not recommended to convert all of it. A certain balance should be left in the account.

Enter the account password in the transaction confirmation interface and click "Sign the transaction".

3.The page shows "Tx Broadcasting" when the operation is successful

4.Check ERC20 FIS

1) Selected "Add Token " on Metamask.

2）Selected "Custom Token" and enter token contract address:0xef3a930e1ffffacd2fc13434ac81bd278b0ecc8d, then click "Next"

3) This page shows the number of ERC20 FIS，click "Add Tokens"

4) Added successfully.

ERC20 to Native

Select "ERC20 to Native", ERC20 FIS balance displays the FIS balance of the currently connected ETH account. Enter the number of FIS and the StaFi address. The second column shows the number of mainnet FIS to be swapped.

Estimate Fee means the commission for this operation.

Click "Confirm" on the transaction confirmation interface.

Check the mainnet FIS after successful swap

You can check it in FIS Balance after the operation is completed.

Reference

1)rFIS solution:https://docs.stafi.io/rproduct/rfis-solution

2)rFIS Product:https://rtoken.stafi.io/rfis

3)Staker Guide:https://docs.stafi.io/rproduct/rfis-solution/rfis-guide

4)OV Guide:https://docs.stafi.io/rproduct/rfis-solution/validator-testing-guide,

5)OV recruitment:https://medium.com/stafi/stafi-rfis-original-validator-recruitment-campaign-b72aaa27636

6)rToken paper:https://docs.stafi.io/stafi-whitepaper/rtoken-paper

7)rFIS FAQ:https://docs.stafi.io/rproduct/rfis-solution/rfis-faq

8)rFIS Audit Report:https://github.com/stafiprotocol/stafi-bootstrap/blob/master/audits/rfis/peckshield-audit-report-stafi-node-v1.0.pdf

Website: www.stafi.io

rFIS Product:https://rtoken.stafi.io/rfis

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

Update on the StaFI RETH and RFIS Launch and other recent developments

Raphael — Mon, 18 Jan 2021 14:03:23 +0000

Stafi team has achieved a milestone over the months and been working tirelessly in giving their community all that has been promised in their roadmap. In an effort to fulfill those promises, StaFi has made great progress in all aspects. In terms of technology, StaFi rolled out rETH and rFIS solutions. rBridge has undergone alpha test, open beta, and security audits, and is now preparing for the official release. lastly Stafi initiated a two weeks rFIS incentive test has been concluded

UPDATE DETAILS.

TESTING ON RFIS COMPLETED.

1) On 30th November, StaFi officially released rFIS, the staking liquidity solution for the mainnet FIS. rFIS is the first rToken launched by StaFi. Through rFIS, StaFi not only solves the liquidity problem for FIS stakers but also increases node revenue for validators and increases StaFi’s staking rate.

2) The product has been developed, and the Open Beta was launched on December 2. Meanwhile, we’ve launched a test incentive campaign.

3) On 21st December, StaFi announced the status of rFIS test incentives. 169 addresses participated in the test and 66 staking users and 40 validators have received the rewards.

4) The rFIS contract code has been submitted to PeckShield, an audit agency. After the audit, we will optimize the code and prepare for its launch on the mainnet.

2.rETH solution

1) On 12th November, StaFi officially released the ETH2.0 Staking liquidity solution. Users can participate in ETH 2.0 Staking through the Staking Contract deployed on Ethereum through StaFi. The minimum deposit is 0.01ETH, instead of 32ETH. The platform will automatically issue rETH to users, which anchors principal and staking income. rETH can also be exchanged for ETH on DEX and be lent through loan agreements.

2) The development has been basically completed. The Open Beta was launched on 17th December and StaFi has arranged an incentive test campaign, which is underway. By far, over 300 users and 300 validators participated.

3) The rETH contract code has been submitted to PeckShield, an audit agency. After the audit, we will optimize the code and be prepared for its launch on the mainnet.

3.rBridge
On 11th December, rBridge was launched on the StaFi mainnet. FIS of StaFi mainnet can be converted to ERC20 FIS at a 1:1 rate, and then be circulated in the Ethereum DeFi ecosystem transaction, lending, and other scenarios. So far, 814,388 mainnet FIS have been converted to ERC20 FIS through rBridge.

4.rToken whitepaper
On 16th December, StaFi released the rToken white paper, which elaborates on rToken’s product design and future plans. The white paper encompasses 11 chapters, including summary, the introduction of rToken, business structure, rToken exchange rate, rToken circulation, revenue and expense mechanism, governance, FIS Token value capture, future planning, etc.

5.ETH2.0 Slash solution
On 22nd December, StaFi released a solution for the Slash of ETH 2.0. StaFi believes that currently, an 8 ETH deposit made by validators can avoid the loss of StaFi users’ assets in most slash cases. In addition, StaFi has also introduced a Slash insurance fund pool for validators to hedge against Slash excess losses. We will announce more details in the future.

ETH2.0 Staking delegation mechanism On 29th December, StaFi published an article analyzing the possible reasons why ETH2.0 Phase 0 doesn’t have a staking delegation mechanism, and how StaFi rETH could build that mechanism before ETH2.0 Phase 2 goes live. The article also pointed out that the design of rETH based on asset security can to the greatest extent protect the asset security of stakers.

Community Development

1.Validator Grant
In early December, StaFi validators began to submit validator contributions. Nearly 40 validators have received contribution forms. It is currently under review, and the review results will be announced shortly.

November Warriors Incentive List On December 14, StaFi announced the November StaFi warriors incentive list. 30 Warriors received rewards.

Collaboration

Oasis & StaFi
On 3rd December, StaFi formally established a partnership with Oasis Protocol, a blockchain privacy computing platform, in terms of data collateral derivatives. The cooperation will simplify the process of (rToken-based) data generators importing personal data into the Exchange (Money Market). Personal private data will be authorized in a decentralized manner, and data generators can use it to make a profit.
StaFi hold AMA jointly with Equilibrium
On 4th December, Equilibrium CEO Alex Melikhov was invited to the StaFi community to run an AMA. Melikhov gave a detailed introduction to the development of the Equilibrium project and the cooperation with StaFi, where he expressed his confidence in the cooperation between the two parties.
FIS listed on Uniswap
On 11th December, FIS was listed on Uniswap and the FIS/ETH trading pair was supported. Everyone can use StaFi’s rBridge cross-chain bridge product to convert the mainnet FIS to ERC 20 FIS. In the future, rETH, rFIS, and rDOT can all be accessed through rBridge ETH DeFi ecosystem.

4.Unilend & StaFi
On 15th December, StaFi formally reached a cooperation with Unilend, a DeFi transaction and loan agreement. In the future, the Unilend platform will integrate rToken, and users can trade and borrow rToken on the Unilend platform.

5.AMA
Liam, Co-Founder of StaFi, attended:
1) On 3rd December, Liam attended the Fireside Chat hosted by Injective Protocol and shared the future development of Dex and staking Derivative with Injective community members.

2) On 12th December, Liam attended an online event organized by BlockchainedIndia to discuss the opportunities of DeFi with the CEOs of RioDeFi, OpenDeFi, Persistence, and Knit Finance.

3) Liam was invited to participate in the BitMax 2nd Anniversary Celebration and the 2020 Brand Upgrade Conference. The theme was “DeFi vs ETH2.0 vs Polkadot: How to take a lead?” In the round-table discussion, Liam suggested to investors how to take a lead in new sectors when DeFi, Ethereum 2.0 and Polkadot are developing simultaneously, using the example of the trade-offs between centralization and decentralization of enterprises.
Blank, StaFi’s chief researcher, attended:

1) On 10th December, Blank attended the Decoding program hosted by Jinse.com, and shared how StaFi rETH solves the liquidity dilemma of ETH2.0 Staking.

2) On 10th December, Blank attended DEFI FEVER hosted by Blocklike and DoraHacks, and shared StaFi’s latest products and progress.

3) On 11th December, Blank attended the Relativity program hosted by Jinse.com, and shared StaFi’s contribution to the Polkadot ecology and its strategy of parachain bidding.

Website: www.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