StaFi — Achievements made by StaFi over the course of 2021

Welcome to all Crypto Enthusiasts, today we’ll be looking into a few developments that the platform, StaFi has accomplished during the year of 2021. The platform’s team has proven themselves to be fully operational and dedicated to upgrading/optimizing their system with recent developments such as the Liquidity mining programs which was automated on their r- Pool Application. This article will be based on several developments which were achieved over the course of 2021. Before delving into the updates, the StaFi’s Description will be detailed below

STAFI PROTOCOL

StaFi is generally known as the 1st Decentralized Finance Network that is centered on unlocking the Liquidity of staked assets or funds. Various users can now stake their PoS based tokens on StaFi inorder to gain r- tokens, which is going to be available for exchanges. The r- tokens are simply staking derivatives developed by StaFi to be issued to users. When the individuals stake PoS coins on the Network’s r- token app, they receive the r- tokens. The StaFi network is really working on diversifying the usecases for r-tokens through collaborations and system upgrades, which will then enhance the user’s experience. Below are the aforementioned developments that StaFi has initiated for the month.

UNISWAP V2 NETWORK DESCRIPTION AND OPERATIONS WITH STAFI

This particular program went live on the 30th of December, 2021 and was live for 30 days straight. The mining APY of both rETH/ ETH pools were specifically recorded with 134.65Percent. All users were encouraged to stake their individual LP based tokens of rETH/ ETH on StaFi network’s r-POOL application to enable FIS based reward farming. For more info: https://mobile.twitter.com/StaFi_Protocol

SHANGHAI ART GALLERY WITH STAFI

With full support and partnership with StaFi, Imtoken brought various artists into the crypto ecosystem with a goal putting their various artworks into Shanghai’s art gallery for exhibitions. A series of art or media related contents can be submitted such as short videos, essays, mixed arts, poems, paintings, comics and so on. It should also be noted that artwork that is submitted doesn’t necessarily need to be minted into Non fungible tokens (NFTs). The management will lead the finalists into minting their content into Non fungible tokens, After their entry has been shortlisted. For more info: https://mobile.twitter.com/StaFi_Protocol

RELEASE OF LENDING FEATURES FOR rTOKENS WITH LIQEE

These two great decentralized networks have made a collaboration with each other to ensure the full compatibility of their platform’s features. Through their partnership, they plan to initiate rtokens such as rDOT, rETH and rATOM into the lending platform on Liqee. The three mentioned rtokens can be utilized for collateral purposes in order to various tokens.

Liqee platform will be live with both StaFi and dforce to start off their campaign for liquidity miining on Binance Smart Chain and Ethereum by 12pm on the 27th of August, 2021. For more info: https://mobile.twitter.com/StaFi_Protocol

FIS listing From Binance

Binance listed FIS (which is on Stafi) into the innovation zone. The Innovation zone is simply a trading sector where individuals are granted the opportunity to make an exchange on the latest, innovative and unique tokens which stand a chance of having a high volatility rate. In order to make exchanges in this sector, users must first visit their original web trading site in order to gain enquiries.

Binance opened and initiated trading pairs of FIS on the 3rd of March 2021. For more info: https://mobile.twitter.com/StaFi_Protocol

RockX Partnership

StaFi on the 18th of August, announced their long term collaboration with RockX, which is a service provider for staking, RockX is responsible for providing prominent blockchains with high end validating utilities and services. These supported blockchains include Oasis, Terra, Polkadot and so on.

RockX platform was integrated into the StaFi network to provide expertise on decentralization and security. For more info: https://mobile.twitter.com/StaFi_Protocol

StaFi’s rMATIC Liquidity for Polygon

rMATIC is basically a decentralized finance product created by StaFi protocol to solve liquidity issues of MATICs that are staked on the Ethereum network or mainnet.

Stafi protocol’s main mission is to simply grant liquidity solutions to all major PoS programs, making the option of staking to be run in an efficient and flexible manner. In order to succeed in this mission, StaFi launched five rtoken solutions such as rFIS, rKSM, rETH, rATOM and rDOT solutions. For more info: https://mobile.twitter.com/StaFi_Protocol

PARTNERSHIP DETAILS

With StaFi network’s reserve amount at the time(1,460,000), the maximized purchase size was to maximize the capital usage rate to 100 percent, amplifying profits for the reserve enablers.

In order to compliment this maximized acquisition, StaFi platform’s premium pricing deteriorated from 5 percent annually to 4 percent annually, overall maximizing USDC return from 2.25 percent APR to 3.6 Percent APR to reward the $2 million reserve pool.

As previously Iterated, the maximized coverage value became effective on the 17th of October, 2021. Individuals are encouraged to support Stafi network’s reserve pool and liberate earnings.

For more info: https://mobile.twitter.com/StaFi_Protocol

StaFi’s Value Supported Coin Liquidity with Moon X

With their single coin pool architecture, they are the best capital- simplified protocol to provide r- tokens more of Liquidity, and other coins that are readily supported by value. The feature is not just for unlocking the Stakes that are locked, but for unlocking the process of profiting from what the user owns or can access. As more of the digital or real- world assets undergo tokenization, Mono X looks to become a great Ecosystem that will undergo exchanges for the Value Supported Tokens. For more info: https://mobile.twitter.com/StaFi_Protocol

Conclusion

The platform really accomplished a lot of schemes in the year of 2021. The platform executed several Liquidity mining Programs while providing other ways to incentivize the community with rewards. StaFi network is really looking to truly revolutionize the DeFi industry through their r- token solutions. StaFi is really setting itself up to be one of the best decentralized finance protocols or platforms with its recent collaborations and achievements. Their plans and prospects for various PoS programs really proves their true devotion for staking and liquidity. With it’s diversity schemes and programs it’s evolution is sure to be phenomenon to watch out for. For the year 2022, they’ll consistently carry on with the Developments while incentivizing the community.

website stafi.io

writter Vickystar01

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cryptocurrency analyst

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