StaFi — Details On StaFi Eco Accelerator Grant Program and IRIS Collaboration
Welcome to all Crypto Enthusiasts, today we’ll be looking into a few developments that the platform, StaFi has accomplished a lot throughout the past few months. The platform’s team has proven themselves to be fully operational and dedicated to upgrading/optimizing their system with recent developments such as the Liquidity mining programs which were automated on their r- Pool Application. This article will be based on two of their recent developments, which are; The StaFi Eco Accelerator Grant Program and. Before delving into the updates, the StaFi’s Description will be detailed below
STAFI PROTOCOL
StaFi is generally known as the 1st Decentralized Finance Network that is centered on unlocking the Liquidity of staked assets or funds. Various users can now stake their PoS-based tokens on StaFi to gain tokens, which are going to be available for exchanges. The r- tokens are simply staking derivatives developed by StaFi to be issued to users. When the individuals stake PoS coins on the Network’s r- token app, they receive the r- tokens. The StaFi network is working on diversifying the use cases for r-tokens through collaborations and system upgrades, which will then enhance the user’s experience. Below are the aforementioned developments that StaFi has initiated for the month. More info about their recent developments will be detailed.
STAFI ECO ACCELERATOR GRANT PROGRAM LAUNCH
On the 26th of April, StaFi Announced that they have launched the StaFi Eco Accelerator Grant Program, 1st Grant released for Spring Design Studio. StaFi introduces SEAG to finance projects, devs, and marketing agencies who contribute to the growth of StaFi Eco. SEAG has been provided to simply serve as a comprehensive grants program focused on funding software development, product design, and technical research efforts related to StaFi.
Anyone or any project is welcome to apply for the SEAG program. It should also be noted that Strong technical projects that add value to the StaFi ecosystem will have the priority to receive the Grant.
For those who are willing to apply, the system needs a team with strong historical records of DApp UI/UX design, users could apply for SEAG to fund their UI/UX design proposal regarding the DApps of StaFi protocol. Liquid staking needs lots of technical research including the staking contracts, delegation algorithms, and security mechanisms. So if users are doing the related research, the platform is willing to support their efforts.
Benefits of SEAG
When users receive the SEAG grant, these individuals are going to get a lot of support. This means that the scheme will fund their ideas and efforts with a scope of 5,000 USD to 50,000 USD in $FIS tokens.
StaFi Foundation will provide technical and research support as part of the grant.
The scheme will also help users to launch their projects with joint PR assistance.
After the review of StaFi Foundation, we decide to fund the Spring Design Studio’s proposal for rToken App UI/UX design, which will be the first SEAG project to present an example for our community.
Spring Design is motivated to provide StaFi Technology (BVI) Ltd. an amazing UI/UX Design for the StaFi rToken App which encompasses many deliverable targets, such as Redesign all current rToken App Pages as provided in the previous wireframe version, Expansion of current wireframe to include new features, Ensuring all functionalities of the rToken App are highlighted and ease of use is maximized for users, The allowance of additional chains being integrated into the rToken App, Upselling & Linking StaFi Products to maximize visibility.
IRIS Network Partnership
On the 22nd of April, IRIS Network announced that they have initiated a Collaboration with the StaFi network. StaFi Protocol also welcomes Iris network, as the first project on its latest venture, StaFiHub. They are Looking forward to working together with their team on this exciting journey to provide liquid staking solution for $IRIS.
A big step was taken by StaFiHub towards its mission of providing liquid staking derivatives for Cosmos ecosystem projects. It collaborated with IRIS Network to build a liquid staking solution called “rIRIS” for $IRIS.
Through this integration, any $IRIS holder will be able to stake their holdings through rIRIS to earn staking rewards while still enjoying the liquidity of rIRIS, which could be traded/transferred on any IBC chains. StaFiHub will release rIRIS Testnet with exciting $FIS incentives. Both parties will work to enhance the liquidity of the rIRIS solution. StaFiHub is also going to deploy a pool for $rIRIS & $IRIS trading pair on rDEXFinance, an AMM DEX developed by StaFi Protocol.
IRIS Foundation will provide initial liquidity of $1M USD for $rIRIS <> $IRIS pool. Both parties will jointly launch a co-incentive LiquidityMining Program for both $FIS & $IRIS tokens. This integration will attract crypto users interested to earn passive income. It will also bring Cosmonauts to StaFiHub. rIRIS is the liquid stacking solution for IRISnet’s utility token $IRIS. It will be the 1st rToken developed on StaFiHub. IRISnet, built with Cosmos SDK, enables cross-chain interoperability through a unified service model while providing a variety of modules to support DeFi applications
StaFiHub will build liquid staking derivatives for many more Cosmos projects and This is just the beginning.
This collaboration is also going to Build synergies with IRISnet to establish a strong rToken for $IRIS and expand its adoption and liquidity.
ENDNOTE
With the initiation of these two previously detailed programs on StaFi, the network is going to explosively develop in prominence. StaFi network has really accomplished a lot of deals over the year, they’ve also released great mediums which will help facilitate the functions of r- tokens. The platform is also on a constant path to develop products, testing, refining, building technical infrastructure, and UI/UX-based improvements of r- token application as time goes on. With more research and development schemes, which will be made by the team in the month of March, StaFi Protocol’s r- the token solution is going to be extremely Prominent and important for the DeFi society.
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
