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.
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.
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