2023Q2 Roadmap — LSD For EVM Compatible Chains
Q1 Review
As we bid farewell to Q1 and look ahead, it’s time to celebrate StaFi’s recent notable accomplishments! If you’re looking to get a comprehensive overview of StaFi’s progress, look no further than our monthly reports on Medium and weekly technical updates on Discord. We’ve achieved some impressive milestones that we’re eager to share this quarter:
1.Firstly, we’re excited to announce that we’ve released a new and improved version of the rToken App. With enhanced design and functionality, the ledger app now fully supports Tx signatures in the StaFiHub App (with the FIS ledger app under review by the Ledger Live team). This update has made staking even simpler and more accessible for our users to obtain rTokens.
2.We’re also thrilled to announce the security enhancements made to our BNB staking model. The BNB chain for BSC has been updated, leading to a new UX for rBNB staking in StaFi. These improvements have been accompanied by the creation of a new smart contract to ensure enhanced security.
3.To keep up with the growing demand for rTokens, we’ve launched a new Analytics Dashboard. This dashboard will give our users a comprehensive overview of rTokens in the market, providing crucial insights to inform their investment decisions.
These achievements are only the beginning of what’s in store for StaFi. We have many more exciting milestones in the pipeline for Q2 2023, including the rETH Shanghai upgrade, rToken App merge, and a new rPool for incentive programs. We’re thrilled to continue our journey towards creating a more accessible and user-friendly DeFi ecosystem.
Q2 Roadmap
As the crypto market continues to fluctuate and regulatory policies shift, StaFi remains vigilant and well-prepared for any upcoming changes. However, despite these uncertainties, we firmly believe that innovation and development are key to StaFi’s long-term success. That’s why we’re excited to share our Q2 roadmap and the upcoming updates we have in store.
Shanghai update
We’re thrilled to share that the eagerly awaited Shanghai upgrade is set to be released in April. Our team is working around the clock to integrate the withdrawal feature, and we’re happy to report that most of the development work was completed in March. At present, the related smart contracts and app are undergoing rigorous auditing and testing phases to ensure they meet our high standards of quality. The first phase of the audit, conducted by Peckshield, has already been completed, and the report has been uploaded to Github for transparency. The second phase of the audit, which is being carried out by Blocksec, is currently underway.
Along with the Ethereum withdrawal feature, we’re also updating the features of the rETH validators app. In the new version, validators will be able to manage nodes with ease, thanks to a range of new features that include setting fee recipients, running clients, and managing slashing. We’re also introducing an overview dashboard that will make validator operations more clear and simple, enhancing the user experience of the App.
LSD for EVM compatible chains
We are excited to share that StaFi’s roadmap for Q2 includes a major direction towards creating an LSD specifically designed for EVM compatible chains. As a leading multi chain LSD protocol, StaFi currently offers two AppChains — StaFi Chain for Substrate ecosystem and Layer 1 protocols, and StaFiHub for Cosmos ecosystem. With the addition of a third AppChain, we aim to provide a comprehensive LSD solution to the EVM Layer 1’s Protocols.
Our new solution is designed to be fully open and easily integratable, allowing projects on EVM layer1s to seamlessly integrate StaFi’s protocol within a short period of time, similar to how CosmosSDK based projects integrate into StaFiHub.
Our vision is to bring a composable LSD to the EVM Layer 1’s, allowing for the secure building of LSD components. We believe this will be a game-changer for the ecosystem, and we can’t wait to unveil more details in Q2. Stay tuned for further updates on this exciting development!
DVT Exploration
We are thrilled to announce that StaFi is making significant strides towards decentralization through our ongoing research in Distributed Validator Technology (DVT). While our matching system is currently permissionless for anyone who wishes to run an ETH node, we believe that leveraging a DVT infrastructure will enable us to achieve a wider technological decentralization.
To this end, we are working towards implementing DVT in the StaFi matching system of rETH in collaboration with SSV. While this solution is still in the research phase, we are committed to making significant progress in Q2 and are excited to share more updates as we continue to explore this innovative technology. We firmly believe that DVT will play a pivotal role in StaFi’s path towards greater decentralization and look forward to sharing more about our progress in the near future.
New rTokens, Website, App Merge and ICS rewards
With the implementation of EVM LSD,new rTokens along with a brand new website being launched in Q2 will help position StaFi as a leading LSD solution in the market. As we continue on our path towards a DAO, the new website will serve as a platform for governance management, further solidifying StaFi’s position as a decentralized protocol.
Innovation is at the heart of StaFi’s development philosophy, and we are constantly looking for ways to enhance our Development Toolkits and SDKs to save both time and cost for developers. As part of this mission, we are excited to announce that we will be merging our two existing rToken apps, StaFichain and StaFiHub, into a single, streamlined interface. This will greatly improve the staker’s experience, allowing users to easily stake their rTokens without having to jump between different tabs/windows.
Another exciting development on the horizon is the recent CosmosSDK upgrade, which introduces a consumer chain structure to the Cosmos community. This upgrade allows for the distribution of rewards to stakers in Cosmos, rather than solely to the validator of the consumer chains themselves. As a leading Cosmos LSD provider, StaFiHub is eager to explore the challenges and opportunities presented by this new structure, and we look forward to sharing more about our progress in Q2.
Operational Strategy
In order to drive widespread adoption of rTokens, StaFi will be implementing incentive programs such as liquidity mining and minting programs as the main strategy for Q2. Currently, rETH has been launched on platforms such as Balancer, Curve, and Camelot, while rBNB is available on Thena, and rMatic is integrated with Kyber. In the future, StaFi is actively seeking more integration opportunities for its rTokens.
Ensuring security is always our top priority. StaFi is working on bringing on board more reputable security auditors to minimize any potential risks. In Q2, we can expect to see more progress on this front.
Conclusion
The roadmap for Q2 2023 will be dynamic, but our main tasks are already set. We remain committed to being innovative and energetic in keeping up with the latest trends in the crypto industry, and will adjust our plans accordingly. While crypto regulations have been strict, we firmly believe that innovation cannot be stifled by human intervention, and that it is a force of nature that is unstoppable.
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.
