What do you need know about StaFi Protocol?

DeFi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries.

Polkadot as DeFi
While Ethereum is top dog in the DeFi world, many proponents of Polkadot share the goal of cutting the middleman out of more complex financial transactions, and they’ve developed ways to do so using the Polkadot

How will Ethereum 2.0 impact DeFi?
Ethereum 2.0 isn’t a panacea for all of DeFi’s issues, but it’s a start. Other protocols such as Raiden and TrueBit are also in the works to further tackle Ethereum’s scalability issues.

If and when these solutions fall into place, Ethereum’s DeFi experiments will have an even better chance of becoming real products, potentially even going mainstream.

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.

By the design of rFIS, users only need to conduct FIS Staking through the FIS Staking contract deployed by StaFi in order to obtain rFIS token, which anchors the Staked FIS as well as the Staking income. As the first-ever rToken asset issued on the StaFi chain, rFIS not only acts as an liquidity-releaser for nominators on StaFi mainnet, but also as a test field and a representative case for other rToken solutions in the future. The new normal of rFIS will be an outset for all explorations in the future, such as options, loans and other derivatives. Therefore, the release of the rFIS beta version has great practical significance for StaFi, with regards to the realization of rETH, rDOT and other rToken solutions. It is an important beginning of the wide application of all rTokens.

The core engineers of StaFi have pulled many all-nighters to complete the development of rBridge. A cross-chain bridge on Ethereum, rBridge will act as a channel linking StaFi mainnet assets and Ethereum chains. Users can exchange FIS for ERC 20 FIS at a 1:1 rate by using rBridge. Thereafter, they will be able to access transactions, lending and other applications of the DeFi world of Ethereum.

What is the use of rBridge? It can enable FIS tokens to be traded on Uniswap. This is, of course, just one of its many applications. rBridge will help with the cross-chain inter-operation between assets on the StaFi mainnet and other ecosystems, including Ethereum, Polkadot, and Cosmos. Therefore, StaFi will keep updating rBridge products in the future, so that FIS tokens and rToken assets issued by StaFi can freely circulate across different public chains at a low cost.

Stafi also prepared rETH it is the way to participate in starting of Etherium 2.0 even if you have no 32 ETH needed to start the Validator. You can use rETH solution, which allows for Ethereum 2.0 liquid staking in an easy way. You can start to stake from 0,1 ETH and take out your stake any time.

StaFi Chain and rETH

rETH is just one of many StaFi’s solutions for staked assets. StaFi will also launch rToken solutions for FIS, DOT, KSM and ATOM. According to our rETH architecture, users mainly interact with Staking Contracts deployed on Ethereum, staking funds security will be safeguarded by special validators on the StaFi chain using MPC and multi-signature mechanisms.

What’s more, rETH can also be integrated with the Polkadot or Cosmos ecosystem through StaFi cross-chain bridge service which is about to be launched together with the bug bounty for developers (stay tuned to participate!). Users can have access to DeFi applications deployed on other chains beyond Ethereum.

In conclusion, StaFi’s vision is to provide liquidity to all staked assets and unlock value through rToken, and we see rETH as an essential part of the rToken‘s universal adoption.

We welcome community feedbacks and questions with regard to the proposed rETH solution, and want to create a quality discussion about other possible solutions, if you are interested, join us telegram: https://t.me/stafi_protocol

Resources:
https://medium.com/stafi/official-release-of-stafi-staking-liquidity-solution-for-ethereum-2-0-8f1557763cfd
https://medium.com/stafi/stafi-officially-announces-rfis-liquidity-solution-for-its-native-token-fis-31f2e6b1e4ff
https://stafi-protocol.medium.com/

Website: www.stafi.io
Twitter:@Stafi_Protocol
Telegram Chat: https://t.me/stafi_protocol
Telegram Announcements: https://t.me/stafi_ann
Discord: https://discord.com/invite/jB77etn
Forum：https://commonwealth.im/stafi