Community Updates for the StaFi Protocol in January
rDEX and StaFiHub were the focus of StaFi’s development activities in January.
The Bug Bounty for rDEX was designed to gather the community’s power to identify unknown functional vulnerabilities and code bugs once rDEX was released on Testnet.
StaFi Hub is undergoing development as well.
We attempted to host the AMA on Twitter Space to enable contact with the community in terms of community building.
In the future, we will use this method to communicate with the community more.
Below are the details of the progress in January:
1.rDEX
1) StaFi released the rDEX technical architecture on January 17th, with the goal of providing liquidity for rToken and maintaining the value of rToken:
Totally decentralized, with no reliance on third-party prices
Support asymmetrical liquidity provision, but urge symmetrical liquidity provision.
Shared trading fees and mining incentives can be used to compensate for LP’s temporary losses.
2) After rDEX became live on tesnet on January 18th, StaFi offered a Bug Bounty for rDEX to harness the power of the community to identify unknown functional flaws and code issues.
The rDOT, rBNB, and rSOL liquidity mining program
The liquidity mining program for rDOT, rBNB, and rSOL was extended for another 30 days on January 7th.
Portal:https://app.stafi.io/rPool/home?tab=lp
Guide:https://docs.stafi.io/rtoken-app/rpool/the-guide-for-rpool/the-guide-on-pancakeswap
Guide:https://docs.stafi.io/rtoken-app/rpool/the-guide-for-rpool/the-guide-on-pancakeswap
Proposal for rNEAR
StaFi announced the rNEAR liquid staking solution on the NEAR forum on January 10th, bringing the staking derivative into the NEAR ecosystem.
The rETH liquidity mining program.
The Uniswap V2 liquidity mining program for rETH been extended for another 30 days on January 14th.
Portal:https://app.stafi.io/rPool/home?tab=lp
4.StaFi Warriors is a campaign created by StaFi.
The contribution for January was released on January 14th. Various types of content are used to assist raise brand awareness for StaFi.
The New UI/UX of the StaFi website was updated on January 19th.
The new website’s highlights include:
On the main page, there are instructional videos for new users.
Access the rToken App and rDex with ease.
With up to 5 DEX’s linked on our DEX widget, you may rapidly trade your rTokens.
With a single click, you can become a validator or a developer.
rToken Ecosystems in Context (Summary)
The Vote for rethCRV
Idle Leagues held a listing tournament on January 19th for IDLE holders to choose the next assets to be included in Idle PYT 11, with Convex as the underlying yield source.
If rethCRV wins the vote, it will be included into Idle PYT, increasing the liquidity of rETH.
The first AMA on Twitter Space was started by StaFi on January 26th.
Liam, the co-founder of StaFi, discussed the company’s development priorities, such as rDEX and StaFiHub, as well as the roadmap for 2022.
The AMA Record can be found here: https://twitter.com/StaFi Protocol/status/1486327451081129991.
Prospects for February
The launch of rDEX on the testnet and the launching of the Bug Bounty were significant milestones in January. We’ve received a lot of feedback from the community so far, and we’re going through everything one by one. Simultaneously, the development of StaFihub is proceeding in a systematic manner. We’ve also spoken with a few projects in the Cosmos ecosystem, and they’ve expressed a strong interest in the Staking Derivative SDK. We’ll continue to work on the introduction of the rDEX mainnet and the development of StaFiHub in February.
About StaFi
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. rToken is a synthetic staking derivative issued by StaFi to users when users stake PoS tokens through StaFi rToken App . rTokens are anchored to the PoS tokens staked by users and the corresponding staking rewards. rTokens can be transferred and traded at any time.
