The StaFi Journey
StaFi Protocol has come a long way from its humble beginnings as the first decentralised protocol that seeks to unlock the liquidity of staked assets, StaFi has indeed ensured that staking Pos tokens get easier and more productive.
However it should be understood that StaFi didn’t just happen on this impressive result. A great deal of hardwork, perseverance and determination has been and continues to be applied to achieve more and more of StaFi goals.
StaFi created reward tokens known as rTokens as an alternative token which a staker on StaFi chain receives, trades with and ultimately uses to redeem his staked token. From the onset, StaFi sort to launch several rTokens based on various ecosystems. Inorder to do this StaFi has to put into consideration various factors which includes market situation, community opinion and robustness of the ecosystem to ensure that it is alright to release these rTokens. As a result of this criteria, the team saw the need to release 8 rTokens yet.
With the release of these rTokens, another bottleneck presented itself. The rTokens faced the case of limited accessibility and a lack of rTokens liquidity. This hindered the availability of rTokens and their circulation with a stable rate.
In the interest of rTokens hodlers StaFi came up with the rSwap app to enable rToken users quick swap their tokens for native tokens by selling their tokens on an Exchange Rate Discount and rPool where there is ample opportunity for users to provide liquidity with different yields attached to them.
To further checkmate the problem of rTokens liquidity and ultimately put it to an end, StaFi created rDEX Finance, an automated market maker (AMM) decentralized exchange that allows the trading of all rTokens in one platform with the protection from the risk of impermanent loss for liquidity providers increasing the availability of rTokens.
StaFi needed an infrastructure through which the rTokens and StaFi native tokens can enter different ecosystem at a low cost hence the creation of rBridge. rBridge was then regarded as the link through which various cross chain inter-operations between assets on the StaFi mainnet and other ecosystem could occur.
Users need not worry about the security of their assets as StaFi protocol employee the services of top expert in security audits of blockchain to verify its safety and security.
However as a result of the issues that occurred and the tasking procedures involved in the mint-trade-redeem process of the cross-chain interface, StaFi saw the need to develop StaFiHub to connect to the cosmos ecosystem. With StaFiHub, StaFi has been able to seamlessly extend its rTokens activities to the cosmos ecosystem, function as a cross-chain bridge between StaFiHub and StaFi Chain for easy movement of tokens and to provide its users with quality, less stressful and secured transactions with low transaction fees.
StaFi is still set on its goal to keep amazing the crypto space with its extraordinary innovations as a problem solver and to make it easier for users to navigate the blockchain. More is expected and is to come in the future from StaFi.
For more information on StaFi visit:
rToken App: https://app.stafi.io
Telegram Chat: https://t.me/stafi_protocol
Telegram Announcements: https://t.me/stafi_ann