StaFi Hub — A Phenomenal Medium Being Worked On By StaFi Network Based on the CosmosSDK
In Year 2021, StaFi was really centered on the r- Token liquidity. They also explored new Staking Derivatives, while achieving a lot of great milestones such as the introduction of new rTokens, DeFi protocol integrations, release of rSwap, rDEX proposals and StaFiHub innovations.
The StaFi network team over the past few months, has been releasing various initiatives in order to enhance the experience of their whole community. Recently, the StaFi network team initiated an idea that their r- token ecosystem should be extended to the Cosmic ECO Network chains in order to expand the network of r- tokens. 2022 is here, and StaFi Core will bring more exciting technical innovations such as the rToken Apps on StaFiHub, and the Open Platform for Staking Derivatives. During December last year, The technical solution and architecture of StaFiHub were established. This plays a vital role in expanding StaFi’s r- Tokens into the Cosmos ECO.
Over the course of the article, we’ll be going through STAFI hub’s plans, features and benefits to the community, but first a little information on its platform StaFi will be given below.
StaFi DESCRIPTION
StaFi network is simply a Decentralized finance protocol based on the liberation of staked asset Liquidity. Through the StaFi project, global operators can now stake PoS based tokens in order to gain r- tokens. r- tokens are simply synthetic staking derivatives which will be issued to users through the StaFi network when they stake PoS coins on the r- token Application. These r- tokens include: r- ATOM, r- ETH, r- DOT and so on. More information about the StaFi Hub will be detailed.
StaFi HUB DESCRIPTION
Although the quest to expand the Ecosystem of the r- tokens is a good idea, it is rather very complicated for projects such as Terra, Cosmos, Osmosis, Crypto.com, Kadena & THORChain, if they base it on the present StaFi chain. The interface for the cross chain Mint Trade Redeem is going to intricate, making it non-UserFriendly. The processes will also cost a lot while being intricate. This will definitely limit the integration of r- tokens such as r- ATOM to a degree. At the moment r- ATOM on SiF-chain cannot be utilized on Decentralized Exchanges such as Gravity Dex, Osmosis or any other exchange that trades via IBC system.
The present r- token technical infrastructure constrains the growth & UserExperience of CosmosECO r- tokens. Simultaneously, General LiquidStaking Solutions for CosmosSDK projects improved by the StaFi network based on r- ATOM is also constrained because of the present technical infrastructure. Due to this, StaFi network has proposed a new group of Staking DerivativeSolutions, which will be called StaFi HUB, to help numerous Cosmos Network Chains and their network users. StaFi Hub is here to enable a new TechnicalArchitecture which will be friendly to developers & Cosmos individuals to simply promote CosmosECO r- token.
StaFi HUB FEATURES
StaFi Hub is going to be a parallel-chain created by StaFi network based on the CosmosSDK, which is similar to the likes of OsmosisChain, SiF-chain, and Terra Chain.
It’s going to be an application chain-network that will serve the CosmosECO StakingDerivatives. Also, the IBC cross chain protocol is going to be supported. The coin assets of the CosmosNetwork can now be cross chained to StaFi HUB via IBC system.
The StaFi network team is also going to develop a cross chain bridge between StaFi Hub and StaFiChain in order to support the r- token trading between them.
BENEFITS OF StaFi HUB
StaFi Hub is here to assist the expansion of their r- tokens to the CosmosECO network. It’ll serve every Cosmos Ecology ( Forty CosmosSDK projects) in a fast and fully efficient manner, while enabling them with Liquid StakingSolution. It’ll also support adoption with a better user friendly experience for all CosmosNetwork users.
STAFIHUB’S TECHNICAL INFRASTRUCTURE
- StaFiHub’s Native token is FIS from StaFiChain. There will be another cross-chain bridge to support transfer of FIS and other r- Tokens between StaFiHub and StaFiChain.
- StaFiHub will use POA rather than POS.
- New Operation Mechanism on StaFiHub.
- StaFiHub supports IBC transfer, as each IBC transfer to StaFiHub will emit a transfer record on StaFiHub, rToken users can get rToken simply by sending an IBC transfer to the given address on StaFiHub.
CrossChain Model: Cross-chain bridge project rToken-Relay will scan every block to find all the IBC and other rToken related types of msgs to complete all the processes of one Era. Both StaFiHub and foreign-chains are based on cosmos-sdk, the StaFiHub client and the foreign chain client are actually two instances of one interface. Both StaFiChain and StaFiHub support emitting an event from a transaction to drive the process forward step by step.
The cross-chain bridge supports users to transfer FIS token and other rTokens between StaFiHub and StaFi Chain. StaFiHub also uses POA rather than POS.
Both StaFiHub and foreign-chains are based on cosmos-sdk, the StaFiHub client and the foreign chain client are actually two instances from one interface.
For more info about StaFi Hub: https://commonwealth.im/stafi/proposal/discussion/2995-technical-architecture-of-stafihub
CONCLUSION
StaFi network team is really working towards the expansion of the r- tokens in the Cosmos network Ecology, and is planning to release the mainnet over the course of 2022. Both StaFiHub and StaFi chain require cross-chain bridge to implement rToken protocol.
The bridge is a perfect off-chain tool to invoke staking related calls such as Bond, Unbond and Claim on the foreign chain which may take a lot of time to obtain the results of RPC requests.After launching the hub, the team will then work on releasing the r- tokens on StaFi Hub, while working on the Integration of the IBC module to interact with other IBC chains in Cosmos Eco, along with the Integration of the bridge between StaFi chain and StaFiHub.The team is presently structuring the Mechanism functions & components of the StaFi Hub. With time the Hub is going to be really beneficial to all r- token users around the network.
