rDEX Is Now Live on Mainnet
After successfully completing the rDex Bug Bounty testnet and security checks on PeckShield, StaFi has officially launched the much-anticipated rDex. rDEX will directly support the trading of all rTokens under the StaFi ecosystem which will help improve the liquidity of rTokens for all StaFi users.
The StaFi rDEX will support all the rTokens currently in the StaFi ecosystem apart from rETH which has to be bridged to the StaFi chain because it is issued directly on the Ethereum chain.
For emphasis purpose, the other rTokens and pairs that will be supported by rDEX are;
. rFIS/FIS
. rDOT/FIS
. rATOM/FIS
. rBNB/FIS
. rMATIC/FIS
. rSOL/FIS
Features Of rDEX
The rDEX comes with a lot of improved features that will help StaFi improve the liquidity solutions for all rTokens. Let’s have a look at some key features:
- rDEX is an automated market maker DEX that adopts the Thorchain’s CLP market maker model to ensure there is continuous liquidity for rTokens.
- rDEX ensures low slippage for small and medium-sized transactions by using an improved fee model.
- rDEX users can provide liquidity by depositing one or two tokens in an asymmetric manner unlike other crypto liquidity pools that only support symmetrical deposits.
- The StaFi team made lots of arrangements for rDEX to be properly tested before it got launched, this is to ensure rDEX is safe and secure. Some of the security measures and testnets employed by StaFi include the following; audit by Peckshield, rDEX bug bounty testnet within the StaFi community and on ImmuneFi.
- Despite all the security audits and bug tests, the StaFi core is not taking any chances, they want to ensure users funds are always safe by initiating an Insurance Fund which will act as an additional protection measure for the funds of rDEX users. This will cover users against any unforeseen hacks or security issues which weren’t discovered during the audit and testnet stages. StaFi is proposing to allocate 5 million FIS tokens into the Insurance Fund and this proposal will soon be approved anytime soon.
- To incentivize users to adopt rDEX, StaFi will be launching a mega liquidity mining program for all its users. More details about this will be disclosed by the StaFi team soon.
Conclusion
The StaFi team has always been intentional about the continuous availability of liquidity for rTokens and the development of rDEX goes a long way to solve any liquidity issues associated with rTokens. The rDEX is now available on mainnet, StaFi users can take full advantage of this new product as there will no longer be any need to bridge rTokens to other chains. Exciting times are here for the StaFi ecosystem, it will be interesting to see how rDEX progresses even as StaFi continues to explore other chains.
Find out more by joining any of the StaFi channels:
