October Development Recap Of StaFi Protocol
In October, StaFi released the new rToken App — rSOL, and the existing features of rToken App are also gradually optimized, like adding the new rToken Mint Type function to support users to select the type of rToken (Native, ERC20, BEP20, SPL) when staking. At the same time, the exploration of rToken integrations is carrying on, and they have reached cooperation with MonoX and Sifchain to integrate StaFi’s rToken. In particular, StaFi worked with Sifchain to list rATOM and build up an over 1million TVL liquidity pool for rATOM holders.Here are the details of October’s progress. In this article you will learn more about StaFi development in October
Technical Update
rSOL
On the 5th of October, rSOL App was released on mainnet. rSOL App will help SOL stakers enjoy better staking APR with efficient liquidity powered by rSOL voucher tokens.
Guide: https://bit.ly/3BrarU1
rSOL Solution: https://docs.stafi.io/rtoken-app/rsol-solution
New Mint Type
On the 25th of October, the New Mint Type was added into the rToken app, stakers can mint listed types (Native, ERC20, BEP20, SPL) of rToken when staking.
rBNB/BNB, rDOT/DOT listed on PancakeSWap
On the 27th of October, The liquidity mining program for rToken pairs on PancakeSwap is live on StaFi App. Any users who stake BNB and DOT can provide liquidity and stake LP to win 186.48% (rBNB/BNB) and 398.85% (rDOT/DOT) APY.
StaFi rPool: https://app.stafi.io/rPool/home?tab=lp
Guide: https://docs.stafi.io/rtoken-app/rpool/the-guide-for-rpool/the-guide-on-pancakeswap
StaFi Warriors Program
On the 31st of October 2021, the StaFi warriors contribution in September came out. Various forms of contents are created to help improve brand awareness and the understanding for StaFi rToken.
The 2021 Staking Ecosystem Report by Staking Rewards
Furthermore on the 13th of October, Staking Rewards released the staking ecosystem report. As one of the staking finance ecosystem, StaFi was analyzed from multiple aspects.
New milestone:100M
On the 21st of October 2021, the TVL of rToken App hit 100M.
Stake: app.stafi.io
Info: https://info.stafi.io/home/dashboard
StaFi rToken Video
On the 25th of October, StaFi released the rToken video which demonstrates what rToken is, how it works and the scenarios.
Technical Difficulties and Proposed solutions for rAVAX
On the 29th of October 2021, StaFi posted the technical difficulties and proposed solutions for rAVAX on Avalanche forum, welcome to vote for StaFi.
StaFi Collaborations
StaFi & Tidal
On the 13th of October, StaFi increased the coverage amount from 1 million to 2 million USDT on Tidal to further protect rToken users’ safety.
The online event hosted by Staking Rewards
On the 20th of October, StaFi founder Liam and other thought-leaders in staking space discussed the key industry topics and trends on the online event hosted by Staking Rewards.
On the 21st of October, StaFi announced the cooperation with Sifchain to introduce rATOM, the first liquid staking solution for ATOM, into the Sifchain DEX.
Also on the 27th of October 2021, StaFi released the cooperation with MonoX, which introduces the premier bootstrap DEX MonoSwap.In the near future, we will both create trading pools and launch co-incentive programs for rToken liquidity providers.
What to expect for November?
In October, StaFi tried to do a lot of community governance and marketing work. We have contacted some DeFi protocols such as Alchemix, Alpha Homora, and Abracadabra to promote the integration of rToken. The cooperation with MonoX and Sifchain has been announced and the rATOM of the liquidity mining campaign on Sifchain DEX is going on. Meanwhile, the liquid staking derivative proposals have been submitted to Polygon and Avalanche foundation and they are in communication now. Contract safety always comes first, we increased the insurance coverage on Tidal to 2 Million USDT .
In November, StaFi will continue to build more the rToken corporations and hope to make progress in the Cosmos ecosystem. A great and new solution is being explored on StaFi mainnet, and it will greatly facilitate the development and adoptions of rToken in Cosmos Eco with improved UI/UX. Let’s look forward to it!
Conclusion
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.
For more information click on the link below
