StaFihub — StaFi Protocol’s Parallel Chain For The Cosmos Ecosystem.
Introduction
StaFi Protocol is a DeFi project that is determined to provide liquidity solutions for staked assets. The team has consistently devised various means of making sure there is sufficient liquidity for staked assets at the same time making sure the reward tokens gotten from staking these assets are tradeable while still earning staking rewards for users who stake native tokens.
The StaFi team has developed various products to help this cause, these products include the Stafi rToken app, rDEX, rSwap etc. One of the latest products to be added to the StaFi ecosystem is the StaFihub. This article will take a deep dive into StaFihub, highlighting key features and the motives behind it.
Introducing StaFihub
StaFiHub is a StaFi parallel chain that will operate on the Cosmos ecosystem. StaFiHub will serve the Cosmos ECO Staking Derivatives. The developers are currently working hard to fast track the development of StaFihub and make sure it’s launched officially in the Q1 of 2022.
Deploying StaFihub on the Cosmos ecosystem makes a lot of sense as it will ease the process of getting Cosmos based rTokens like rATOM, rLUNA and making it possible to trade these tokens on the Cosmos ecosystem. Cosmos ECO currently boasts of over 40 public chains which includes Terra, Crypto.com, Cosmos, THORchain, Kadena, and Osmosis and many others. The StaFi team aims to extend the StaFi rToken ecosystem to the Cosmos Eco Chains and expose its potentials to a larger group of people and not just confining it to just within the StaFi ecosystem alone.
Key Features and Benefits of StaFihub
- StaFihub will enable the inter blockchain communication cross-chain protocol. This will make it possible for Cosmos ecosystem’s assets to be cross-chained to StaFihub via the IBC protocol. Also it will spark Cosmos users interactions with the StaFi ecosystem.
- Using the Keplr wallet, Cosmos users will be able to directly mint StaFiHub-based staking derivatives.
- For easy interoperability, the StaFi team will create a cross-chain bridge between the StaFi Chain and the StaFiHub so that exchange of rTokens between the two chains will be possible.
The development of StaFihub will aid the development of StaFi Protocol in a number of ways;
- The StaFihub will serve efficiently all the Cosmos ecosystem projects which include over 40 public chains and provide them with liquid staking solutions.
- StaFihub will also encourage massive adoption by providing a more user-friendly Cosmos ecological experience.
Conclusion
There has been a huge boom in the Cosmos ecosystem with so many projects integrated because of the inter blockchain communication(IBC) feature. The Cosmos ecosystem has a wide range of staking derivatives from different chains which is unavailable at StaFi protocol. StaFiHub is expected to broaden the StaFi Protocol’s horizons, allowing it to support more staking derivatives than the options currently available. It’s expected to be the next step in the StaFi roadmap. Since StaFihub will be deployed on the Cosmos ecosystem, it’s expected that that this will be the next step in the StaFi roadmap as it will widen the rTokens sphere giving users more possibilities.
About StaFi Protocol
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.
You can join the ever growing StaFi Protocol community
Website
Twitter
Telegram Chat
Telegram Announcements
Discord
Forum
