May 2022 Recap on StaFiHub
In the previous couple of months, a number of activities have been carried out by StaFiHub. This is a recap into the activities.
StaFiHub launched a new version of their public testnet. Users were urged to upgrade as soon as they had a chance. This update was made following the proper test, use and feedback from the first iteration. The community had initially given their feedback on the use of the initial installation of the public Testnet, the bugs, shortcomings and what could be done to make it better. All which were taken into consideration by the StaFi core team.
In respect to the public Testnet V2, the community was asked to note that the StaFiHub chain will only keep the balance of user’s tokens (FIS, rATOM, etc.), And does not keep their transaction records. So they can delegate their $FIS again if they’d like. For previous validators, they are to register again after the upgrade is made.
Moving on to the rPool, the liquidity pool aggregator has been launched on StaFiHub testnet. rTokens built for various Cosmos projects (Currently, $ATOM), was said to have been utilized to earn enjoyable $FIS rewards through multi incentive programs on rPool. These said Incentive programs will later go on to be launched for StaFiHub testnet.
IRISnet partnered with StaFiHub to provide a new rIRIS liquidity staking solution. IRISnet and StaFiHub have established strategic cooperation to develop and launch the rIRIS token liquid staking solution (rIRIS Solution) for IRISnet native token. This will be the first rToken developed on StaFiHub Liquid Staking SDK in the StaFiHub ecosystem.
The partnership unlocks more opportunities between IRISnet and StaFiHub. IRISnet will provide the validation service to secure the StaFiHub mainnet. The collaboration of StaFiHub with IRISnet also serves to explore more use cases for the rIRIS solution, including its integration into DeFi platforms and widespread adoption within the Cosmos Ecosystem.
StaFiHub also teamed up in a partnership with Comdex Official, a decentralized synthetics protocol in the Cosmos ecosystem. StaFiHub and Comdex have teamed up to make their networks and assets more fully interoperable. StaFiHub and Comdex work together to introduce the brand-new rToken assets issued on StaFihub into Comdex Ecosystem as the collaterals for synthetic assets. There will also, as well, be exploration of the liquid staking solution rCMDX for CMDX stakers.
Comdex is an important player in the Cosmos Ecosystem and works as a DeFi infrastructure layer for the Cosmos ecosystem. Comdex provides a variety of interoperable plug & play modules for projects to use to create their own DeFi platforms providing utility to the Cosmos community and DeFi users worldwide. StaFiHub is a project built on Cosmos SDK, developed by StaFi protocol, to provide Liquid Staking Derivative SDK solution for Cosmos Eco projects.
This partnership unlocks the three benefit:
1.) Usage of rTokens issued on StaFiHub as collateral in Comdex ecosystem to mint synthetic assets
2.) Building liquid staking solution, $rCMDX for $CMDX
3.) Provision of validation services to each other.
After the cooperation with IRISnet, Comdex is another great partner for StaFiHub to expand in the Cosmos Ecosystem. StaFiHub plans to keep working with other Cosmos projects to help them have their own liquid staking derivatives based on StaFiHub Liquid Staking SDK.
The rIRIS Testnet powered by StaFiHub went live. $rIRIS is a liquid staking solution for $IRIS. Users can stake IRIS tokens to earn staking rewards while benefiting from rIRIS liquidity.
Another thing worthy of note is StaFiHub’s proposal to IRIS net. StaFiHub put forward a proposal of a liquid staking solution for the iris network community. $rIRIS is built under this as a staking derivative for $IRIS to earn staking rewards while enjoying liquidity provided by $rIRIS token.
Based on the past experience of the StaFi team, developing rIRIS solution is not difficult. The liquidity of rIRIS token is the most important part. Therefore, the StaFi team decided to work together with the IRISnet team to make rIRIS solution successful.
StaFiHub proposes to get the following help from the IRISnet Community.
¶ Provide $10,000.00 USD valued $IRIS tokens for StaFi Core team as the rIRIS solution development grant (The Grant) to cover the related technical costs. All the $IRIS tokens received in The Grant will be staked into the rIRIS App.
¶ IRISnet Community sponsors at least 1 million USD valued liquidity for rIRIS and IRIS pair or rDEX, which is developed by StaFiHub and dedicated for trading liquid staking derivatives issued by StaFiHub.
¶ Provide marketing support for rIRIS solution and its liquidity with the implementation of marketing activities such as videos, tutorials, social media and the likes
StaFiHub’s Work and Co-incentive Plan
With the above grant from IRISnet Community, StaFiHub
¶ Designed and developed the rIRIS solution deployed on StaFiHub.
¶ Deployed a pool for the $rIRIS and $IRIS trading pair on rDEX. An AMM DEX developed by StaFi and deployed on StaFiHub.
¶ Provided $FIS token incentives for the rIRIS DApp testnet to incentivize the community both from StaFi and IRISnet to participate in the testing.
¶Worked with IRISnet to provide liquidity farming incentives to bootstrap the liquidity for rIRIS trading pairs on rDEX. As for the incentives.
While $rIRIS got released on StaFiHub Testnet, StaFiHub made a walk-through testnet video on the StaFi parallel chain dedicated for Cosmos ecosystem rTokens. The aim is to provide liquid staking to the Cosmos Ecosystem tokens.
StaFiHub celebrated and congratulated Comdex Official for the release of $CMST which is a stableCoin for the Cosmos ecosystem. $CMST is a fully collateralized, IBC-enabled stablecoin, built to bring liquidity to Cosmos assets and power DeFi on Cosmos. Users can collateralize various IBC-enabled assets to mint $CMST.
June 1st, StaFiHub held a Twitter Space AMA with ComdexOfficial. Amazing rewards were put out to the community to perform a couple of tasks to help build the community media platforms. A number of winners were later announced on the twitter page and awarded $FIS and $CMDX tokens.
StaFiHub organized an exciting gleam giveaway for the StaFi protocol community. The gleam giveaway contest concluded with 50 winners. These 50 winners were later announced on the twitter platform for transparency and to claim their rewards. Token rewards were taken from a prize pool of 1000U in $ATOM.
StaFiHub engaged the community in a poll session in hopes of futuristically adding more blockchain projects to their ecosystem. The community put a vote of which of the following integrations they’d like to see StaFiHub engaged with. Osmosis, SifChain, OmniFlix and Akash Network.
Official links
Website: www.stafi.io
rDEX: https://app.rdex.finance/
Telegram Chat: https://t.me/stafi_protocol
Telegram Announcements: https://t.me/stafi_ann
Discord: https://discord.com/invite/jB77etn
