Stafi Network — Updates For the Month Of December. 2021.
StaFi network has truly made phenomenal innovations during the year of 2021. This Staking Finance Medium promises to solve the PoS model’s mainnet security and token Liquidity contradiction. They have made sure that numerous users will have the ability to stake several tokens through StaFi. Presently, users can stake ETH, FIS, DOT/KSM, ATOM, BNB, MATIC, and SOL Tokens through the StaFi network application.
The platform has put out a lot of great programs such as the StaFi warriors program, which looks for individuals who desire to join the core growth effort for the network. If you are a crypto enthusiast or you have a rich experience in the industry, then this is the spot for you. Users are welcome to apply for it, especially, the applicants who are KOLs or familiar with Decentralized Exchanges and CosmosECO will also be preferred. The platform has made really exemplary developments in December and they will be stated and discussed over the course of the article. Before the discussion, a description on the platform will be stated.
StaFi network is simply the 1st DeFi based network which was developed to unlock the Liquidity of different staked assets. Various fund holders can now be able to stake through staking contracts on StaFi & receive derived tokens called r- tokens, these r- tokens include; r- ETH, r- ATOM, r-DOT and so on. These r- tokens are simply synthetic staking derivatives which will be issued to users through StaFi when they stake PoS coins on the r- token app. It’s important for individuals to know that the r- tokens will always be active for exchanges.
The platform’s liquid staking is also an amazing solution on StaFi. It grants users two essential benefits. First off, more rewards will be provided to stakers as assets remain liquid, while protocol security will be enabled as stakers are now incentivized to keep staking. More info on the December updates will be stated below:
UPDATES FOR THE MONTH OF DECEMBER
Validator Updates
On the 1st December, the platform announced to their StaFi validators, that it’s time to submit the contribution to apply for the fifth batch of nomination from StaFi foundation. They had from the 1st — 5th of December to submit.
For more info:
https://medium.com/stafi/stafi-validator-eco-building-program-6d57883b7b45
On the 3rd of December, the platform informed the community that on rDEX V1, various trading pairs will be listed, which include; r- ETH/FIS, r- BNB/FIS, r- FIS/FIS, r- ATOM/FIS, r- DOT/FIS, r- KSM/FIS, r- SOL/FIS, r- MATIC/FIS. This will eliminate the need for cross chain to Ethereum Chain or other ecosystems to some extent. For more info:
On the 7th of December, the platform announced the release of a new Liquidity MiningProgram for r- BNB, r- SOL, and r- DOT on r- POOL. At that moment, the mining APY of r- DOT, r- SOL, and r- BNB pools were recorded with 333%, 102% and 94% respectively. Users could also provide Liquidity for r- BNB, r- SOL, r- DOT and stake LP token to get amazing FIS based rewards with about 100% APY. This MiningProgram was placed to last for 30days from December 7th. For more info:
On the 8th of December, the team announced that StaFi r- token application has integrated Tidal DeFi insurance. r- ETH based holders could purchase the insurance with FIS tokens & USDC (Polygon). Total insurance cap for purchasers was 1 million USDC at the time.
Tidal Finance was excited to provide the newly launched, Individual Coverage Service, for Stafi Network’s Community. Those who want to add an extra layer of safety for their assets now have the option to get covered at a low cost.
Meanwhile, the StaFi foundation will compensate 75% of the total insurance fees, which means the r- ETH Tokens insurance premium is only 1% for r- ETH holders, not 4% on tidal platform.
On the 8th of December, the team announced the new release of the StaFi Chain v0.4.10. various upgrades were made to the medium in order to enhance the experience. They will be stated below:
- Support the latest nightly compilation and update dependencies to fix apple M1 compilation.
- Add functions to r- SWAP (r- FIS, r- SOL, r- MATI)
- Optimize the unbond records of the r- tokens.
r- FIS and r- MATIC on r- SWAP V1
On the 9th of December, the team announced that r- FIS is now live on r- SWAP V1. Users could get FIS tokens immediately and the discount parameter is also placed at 90%. r- ATOM, r- BNB, r- DOT, and r- FIS were live on r- SWAP V1 at the moment.
Later On the 11th of December, r- MATIC was released on r- SWAP V1. r- MATIC users could swap native r- MATIC tokens into MATIC tokens with 90% discount.
StaFi’s Multi-Scenario Solutions
On the 10th of December, the platform informed the community about their Multi-Scenario Solutions that they’ve developed to ensure the r- tokens Liquidity.
First off is the Third-Party DEX. Now existing r- tokens can be traded on the DeXs such as Uniswap, Curve Finance, and PancakeSwap which can satisfy 90% of transactions with sufficient Liquidity scenarios. For more info:
Secondly is r- SWAP V1 (ERD Solution), this solution can help r- token users to exchange Liquidity at 90% discount under extreme conditions. For more info:
And lastly is the r- DEX V1, r- tokens can now be directly traded on r- DEX v1 for better Liquidity and it will eliminate the need for cross chain to Ethereum and other Ecosystems. r- DEX V1 is currently under development and will be released in the near future. For more info: https://commonwealth.im/stafi/proposal/discussion/2776-rdex-v1-solutionan-amm-dex-for-rtokens
Liquidity MiningProgram For r-ETH/ETH pool on Uniswap v2
On the 13th of December, the Liquidity MiningProgram for r- ETH/ETH pool on Uniswap v2 was open. r- ETH holders could provide Liquidity for r- ETH/ETH and stake LP tokens on r- POOL to enjoy 134.65%APY with FIS Tokens. This program was placed to last for 30 days from December 13th.
On the 14th of December, the platform introduced StaFiHub to the community, which is based on Cosmos SDK and will serve the staking derivatives of Cosmos ECO.
StaFi Hub will be an essential part of the expansion of the StaFi r- token ecosystem to the Cosmos ECO. The platform is currently designing the technical functions and features of StaFi Hub, in order to fully automate it to the community.
StaFi Hiring A Marketing Lead
On the 21st of December, the platform announced that they are hiring a marketing lead. They are simply seeking a marketing lead to join their core to help them do marketing. If a user is passionate about Web3 and staking and is eager to learn while helping the team play a key role in shaping the future of Staking derivatives, then they’re welcome to join in.
SUMMARY
The platform recently thanked the community for their company over the past year, it is their support that gives them more motivation to move forward. In the year 2021, the platform’s team has been working hard to improve the infrastructure surrounding r- tokens while incentivizing it’s users. Although they have accomplished a lot, StaFi still faces a few challenges such as the adoption of r- token by Stakers along with the r- token Liquidity for r- token holders. As they move into the year 2022, they will make efforts to avert these challenges while ensuring the automations of various developments.
