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Learning & News => Announcements [ANN] => Topic started by: Alex_marik on November 09, 2020, 10:12:13 AM

Title: [ANN] Staking Finance. StaFi
Post by: Alex_marik on November 09, 2020, 10:12:13 AM
Staking Finance StaFi (short for Staking Finance) is the First DeFi Protocol Unlocking Liquidity of Staked Assets
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.

Whitepaper https://docs.stafi.io/stafi-whitepaper/stafi-whitepaper (https://docs.stafi.io/stafi-whitepaper/stafi-whitepaper)
Token Economics https://docs.stafi.io/stafi-whitepaper/tokenomics-of-stafi (https://docs.stafi.io/stafi-whitepaper/tokenomics-of-stafi)

(https://picua.org/images/2020/11/09/1295f90a987ed714eaed98717ab588e0.jpg)

Liquify Your Staked Assets
(https://picua.org/images/2020/11/09/f47982f421320acb3b71b0146099d6c2.jpg)

For Developers
StaFi is an open-source DeFi protocol built for staked assets.
Start Building
Run a node
Build Staking Contracts
Integrate rToken
Documentation https://docs.stafi.io/ (https://docs.stafi.io/)

rToken
"rToken" A synthetic representation of your staked assets
(https://picua.org/images/2020/11/09/b1c9299f18a45a71002afd3a1a3f779c.jpg)

"rToken" Features
(https://picua.org/images/2020/11/09/e9c3f4d85ed29963fc85c4ed5304a60c.jpg)

Supported Soon
StaFi focuses on providing liqudity to Decentralized, Valueable and Tech_Savvy Projects
(https://picua.org/images/2020/11/09/50a4801b0d8a0ec21614d4755e09d48e.jpg)

What is rToken?
rToken is short for reward-Token. When users stake PoS tokens through StaFi, they will receive an equal amount of rToken in return. For example, rAtom represents staked Atom, while rXTZ represents staked XTZ. rToken allows users to receive staking rewards and access liquidity any time by trading rTokens directly. Users also have the right to redeem the corresponding amount of staked tokens at any time.
How to use rToken?
Users mint rTokens by staking via Staking Contracts. rTokens can be traded on exchanges, used in DeFi protocols, or simply held to receive staking rewards.
How to integrate rToken?
Please refer to the API and integration documentation. Wallets, exchanges and DeFi protocols are all able to integrate rToken at ease. Let us know how we can help!
Is rToken an ERC20?
rToken is issued by staking contracts built on Substrate, meaning rToken is Substrate compatible, not ERC20. However, there’s a plan to develop bridges connecting Ethereum and StaFi to allow rTokens being swapped to ERC20.
What if staking tokens get slahsed when you hold rToken?
It is advised to select validators with utmost reputation to avoid potential slashing. If slashing did occur after all, the losses will be borne by delegators to slashed validators.

Team
Young Liam - Founder
Tore Zhang - Co-founder
DaJun - Engineer
Howie He - Engineer
Robin Li - Engineer
Wave Cheng - Engineer
(https://picua.org/images/2020/11/09/357c771d2bce477c0b6da87745272236.jpg)

Roadmap
(https://picua.org/images/2020/11/09/2300bfebac7d0ccf90f3415bebf48d0b.jpg)

Website: www.stafi.io
Twitter:https://twitter.com/StaFi_Protocol (https://twitter.com/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 (https://commonwealth.im/stafi)
Title: Re: [ANN] Staking Finance. StaFi
Post by: Alex_marik on November 11, 2020, 09:18:25 PM
StaFi Protocol Monthly — October Community Updates
(https://miro.medium.com/max/700/1*pqm_W6punqiwnwMRtyoqug.png)

StaFi has made exciting progress in October. In terms of technology, the StaFi network has been upgraded to v0.3.2. The Ethereum Bridge has also been developed and is now in the security audit phase. It is expected to be launched soon, bringing more quality assets into the Ethereum ecosystem. Community work is becoming more sophisticated. StaFi has released a validator incentive program and launched a governance tool to open the way for community self-governance. The MEME design campaign has also attracted many enthusiastic participants. Furthermore, we have also reached a strategic cooperation with Chainlink, an excellent oracle provider in this sector, to create a new staking derivative solution. In general, StaFi is on the way to developing into a mature ecosystem.

Technical Development
Ethereum Bridge Developed
The StaFi #DevelopmentTeam  has completed a user interactive product for the Ethereum Bridge. Through the product, users can complete swap operations with just one click. Bugs which were found in the Ethereum bridge have also been fixed. For example, the Event monitoring problem has been solved, and corresponding test cases have been added. Meanwhile, the StaFi team has conducted an in-depth investigation of the staking service of Ethereum 2.0 in order to better design a plan for the interaction of the StaFi chain.
StaFi network v0.3.2 version activated
At 11:00 AM (UTC), October 13, StaFi v0.3.2 was officially activated online. The main updates include:
1) Transaction fees reduced. Only a small amount of fee is needed for a transaction;
2) Adjusted the deposit fee to reduce the number of FIS required to be Staked. For example, set identity, add agent, etc.;
3) Modified the maximum number of valid nominators that a validator can have simultaneously from 64 to 256;
4) Added DefaultVote type in collective modules;
5) Upgraded the basic framework.
Details: https://docs.stafi.io/network-1/mainnet/releases#changes

Community Development
Validator incentive plan launched
On October 14, StaFi announced the first group of nominated validators and followed it up with the validator incentive plan. 46 high-quality validators were nominated for the first time ever, who were selected based on the following criteria:
1) An active tester in Sitara incentive test network;
2) A lively community member who answers other people’s questions actively;
3) Organizations or institutions that are experienced in operating nodes;
4) Popular validators who are widely supported in the Wait list;
This nomination can be regarded as an incentive for validators who have contributed to StaFi. As more validators are allowed to co-exist in the system, the nomination rules will also be dynamically adjusted. For more details please visit:
Details：https://medium.com/stafi/stafi-validator-incentive-program-the-first-batch-of-nomination-and-rules-8c7a1d4da60f
(https://miro.medium.com/max/700/0*egfsf8OsvkgIB3q5)

StaFi on the way of DAO governance
On October 16, StaFi announced the start of evolving into DAO governance and launched an online governance tool. The realization of DAO governance is mainly divided into two stages. The first stage will be led by the foundation represented by the StaFi team, with the assistance of the community. We will promptly update the development plan to the community through the Treasury DAO governance forum, and listen to your voice with an open mind. In the second stage, community autonomy will be basically realized and the StaFi team will just be a supplement. The team will transfer the governance of Treasury to the community, and the treasury’s income and expenditure will be made by the community in the future. Moreover, everyone can initiate a proposal through the governance forum.
The DAO governance tool is provided by our partner, Edgeware. It is the most professional DAO solution provider in the Polkadot ecosystem. StaFi would like to thank the team for their advice and help on the governance of the Treasury DAO. We will also carry out more in-depth cooperation in the future.
Link to DAO governance tool：https://commonwealth.im/stafi
Details：https://medium.com/stafi/stafi-dao-enters-exploration-phase-partners-with-commonwealth-and-edgeware-65bcdaaf30a9
(https://miro.medium.com/max/700/0*scQ2pme-PB46Jeqx)

MEME Design Competition
On October 22, StaFi launched a MEME design competition. Participants who designed and produced StaFi-themed emoticons, pictures and GIFs had a chance to win FIS up to $80. About 60 pieces of work were submitted by nearly 20 contestants. The competition is still in progress. You can join StaFi Telegram, forum, and Twitter to check others’ creations.
Details: https://t.me/stafi_ann/98
Forum:https://commonwealth.im/stafi/proposal/discussion/720-stafi-sticker-memes-and-gifs-design-competition

Partnership and Events
A strategic cooperation with Chainlink
On October 10th, StaFi and Chainlink formally reached a strategic cooperation. In the future, StaFi will integrate Chainlink’s market-leading oracle solution and create a new state-of-the-art Staking derivatives solution. Chainlink’s oracle guarantees that staking users can create, trade, and redeem staking derivatives at a fair market price through the StaFi protocol. We believe that with the help of Chainlink, StaFi can quickly scale to support other PoS networks and release the liquidity of staking assets for ETH, Polkadot and other PoS projects.
For details:https://medium.com/stafi/stafi-protocol-will-integrate-chainlink-oracles-to-price-staking-derivatives-tokens-328b92565a77
(https://miro.medium.com/max/700/0*_hV9L71lCbUYg74C)

StaFi’s appearance in Shanghai Blockchain Week
On October 24th, StaFi Chief Researcher Blank attended the Polkadot roadshow hosted by Jinse.com, and shared the latest developments and plans of StaFi with friends from Jinse.com, a mainstream media in the crypto world. On October 26, Blank was also invited to the 4th Anniversary Special Event of Jinse.com, delivering a speech on the theme of “ETH2.0 Staking Liquidity Dilemma and Solutions”.
Blank pointed out two problems with ETH2.0 Staking. First, can the Staked principal be redeemed? Second, can the Staked reward be received? Blank proposed a StaFi solution which can address the above 2 problems. StaFi will issue rETH tokens (ERC 20) for ETH stakers, and couple the user’s staking principal with corresponding staking proceeds through rETH. rETH can be exchanged for ETH on DEXs. Users can also initiate Lending/borrowing through a loan protocol. With rETH, StaFi does not need to worry about the liquidity of Staking assets, and can obtain liquidity by trading rToken at any time. Users can also skip the locking period and redeem instantly.
On October 26, StaFi’s Co-founder Liam attended the Web3 BootCamp Demo Day and shared the latest progress and plans of StaFi. On October 29th, Liam was invited to a panel on the theme of “Explore the DeFi scenarios derived from data tokenization, and the opportunities for projects with Oasis as the representative”. Liam and Oasis founder Professor Dawn Song, editor-in-chief of Lianwen Mr. Liu Feng and three other outstanding representatives of the industry discussed what might possibly trend in the blockchain world following DeFi. On October 29, Liam also attended the Web3 conference on the theme of “openness, open source and interconnection”, and exchanged his thoughts on topics such as open finance with Acala from Polkadot, founder of Biforst, co-founder of DODO and CEO of Clover.
(https://miro.medium.com/max/700/0*5x3UcIPPkgr5lVei)

Outlook for November
The main tasks in November are listed below:
1) Audit of ETH cross-chain bridge.
2)The development, testing, and auditing of rFIS functions. To develop rFIS virtually accumulates experience of forging rTokens.
3) Research and develop ETH 2.0 Staking mechanism and develop rETH solutions.
4) Release the v2 rToken white paper and the rETH white paper.
5) Release the StaFi Ambassador(Warrior) Program.
We will also announce the new StaFi Ambassadors to the community. With their help, the community will become even more dynamic.
Please stay tuned!
Title: Re: [ANN] Staking Finance. StaFi
Post by: Alex_marik on November 20, 2020, 08:18:06 AM
Official Release of StaFi Staking Liquidity Solution for Ethereum 2.0

(https://miro.medium.com/max/700/1*ZbzsaRfhs4C5ERdglV8tNw.png)
Ethereum 2.0: A Liquidity Dilemma
On November 4 15:00 UTC, Ethereum 2.0’s deposit contract went live, and the countdown to Ethereum 2.0 Phase 0 has begun — ETH staking is finally right on the corner. According to official documents released by the Ethereum Foundation, a fixed amount of 32 ETH is required for staking, with an expected annualized yield between 5% and 20%. Though lucrative (a lot higher than yields provided by Decentralized Finance (DeFi) applications for ETH specifically), currently, ETH staking is far from being easy due to the following facts:
1) For Stakers
High entry barrier. According to Ethereum 2.0, delegation is not allowed and stakers must run a validator node to start earning. In this case, stakers must possess a lot of knowledge about nodes before actually hosting a validator client. In addition, validator nodes must maintain high uptime and avoid behaviors such as double signing, both of which demands further resources and costs from stakers. If not managed properly, stakers might miss out on their rewards and even face halving on their staked 32 ETH. …
Read more https://medium.com/stafi/official-release-of-stafi-staking-liquidity-solution-for-ethereum-2-0-8f1557763cfd (https://medium.com/stafi/official-release-of-stafi-staking-liquidity-solution-for-ethereum-2-0-8f1557763cfd)
Title: Re: [ANN] Staking Finance. StaFi
Post by: Alex_marik on November 20, 2020, 08:20:10 AM
rBridge Beta Officially Launched — A Cross-chain Bridge on Ethereum Built by StaFi

(https://miro.medium.com/max/700/1*IgC-74s4HPV481TwYlq7Ew.png)
Summary
In the past month, 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, we will keep updating rBridge products in the future, so that FIS tokens and rToken assets issued by SatFi can freely circulate across different public chains at a low cost. …
Read more https://medium.com/stafi/rbridge-beta-officially-launched-a-cross-chain-bridge-on-ethereum-built-by-stafi-bdf0da2b003 (https://medium.com/stafi/rbridge-beta-officially-launched-a-cross-chain-bridge-on-ethereum-built-by-stafi-bdf0da2b003)
Title: Re: [ANN] Staking Finance. StaFi
Post by: Jaephoenix on November 22, 2020, 03:58:32 PM
Everyone and his dog these days have a DeFi product. And Staking Finance is not the first, neither would it be the last to offer staking in the dog eat dog world of Decentralized Finance sphere. So where makes theirs different?