2024Q4 Roadmap — Deflation, Adoption And LSaaS Open As A Sustainable Platform
As the StaFi protocol continues to evolve, Q3 has been a milestone quarter with several significant developments, setting the foundation for an ambitious Q4. Below is a detailed look at our recent achievements and key areas of focus for the upcoming quarter.
Q3 Achievements
1. On-Chain Activation of FIS Mechanism
We successfully activated the FIS burn mechanism on-chain, marking a critical step in aligning our long-term tokenomic strategy. This activation is key in transitioning StaFi towards a deflationary ecosystem, as outlined in the StaFi whitepaper. The mechanism aims to reduce inflation and add intrinsic value to the FIS token, making it more sustainable over time.
2. Modular Development in LSaaS
A major highlight has been the construction of multiple modules within the LSaaS (Liquid Staking as a Service) modularity platform. The Blink module for Solana LST and the restaking module for Ethereum LST are now fully operational. We also established partnerships with leading industry players such as Everclear (formerly Connext), Chainlink, and Cobo, enhancing the platform’s functionality and security. These collaborations are central to building a robust, decentralized staking ecosystem, ensuring long-term scalability and security across multiple chains.
3. TON Stack Integration in LSaaS
Following a successful community vote on rLaunchpad, we have started developing the TON Stack within LSaaS, officially integrating StaFi into the Telegram and Ton ecosystem. This collaboration opens up new synergies and opportunities within the rapidly growing TON network, driving more adoption and liquidity into our platform.
4. rSEI Unstake Function Update
We’ve updated the unstaking functionality for rSEI, empowering it with more capabilities to interact with DeFi platforms. This upgrade allows rSEI to integrate seamlessly into decentralized financial products, expanding its use cases and enhancing its value for users.
5. rMATIC Migration
In alignment with the MATIC-to-POL transition, we successfully migrated rMatic to maintain compatibility with the evolving Polygon ecosystem. This migration was crucial for ensuring ongoing support and smooth operation for all rMatic users and liquidity providers.
6. Babylon BTC LST Launch
We launched the Babylon BTC LST, with Phase 2 (which includes unstaking and reward withdrawal functionalities) set for activation soon. The BTC staking service adds another layer of diversification and value to our LST offerings, further enriching the StaFi ecosystem.
Q4 Focus
As we move into Q4, our focus is clear: to continue pushing the boundaries of LSaaS innovation and enhancing the FIS tokenomics. Several key initiatives are outlined below:
1. FIS Tokenomics Update
Our vision is to steadily shift the FIS tokenomics towards a deflationary model that increases the token’s value over time. The upcoming strategies, discussed in the FIS burn proposal in the forum, include:
- StaFiHub Migration to Neutron: We plan to migrate the StaFiHub appchain to Neutron, which will then enable us to remove the StaFiHub appchain entirely in the future. This migration ensures the platform stays nimble, scalable, and aligned with new advancements in blockchain technology.
- Validator Set Reduction: Reducing the validator set in StaFiChain, which will be one of the foundations to reduce the inflation.
- Inflation Rate Reduction: We aim to progressively reduce the inflation rate on StaFiChain, reinforcing our deflationary strategy as detailed in the whitepaper.
This holistic approach to FIS tokenomics aims to foster a sustainable, long-term ecosystem, with mechanisms in place to minimize inflation and maximize token value.
2. Driving LSaaS Adoption and Partnerships
Adoption of LSaaS continues to be a top priority. Following our transition from rToken to LSaaS narratives, we’ve garnered strong interest from potential partners. Some projects are nearing their mainnet launches, while others are still in development stages. We’ve made significant strides in expanding our network, especially at Token2049 Singapore, where key developers from various projects expressed interest in building on LSaaS. Although LSaaS is still in its infancy, the interest shown in these early stages is promising, and we expect to see more partnerships solidified in the coming quarters. Additionally, a grant proposal has been raised in the DAO forum to incentivize developers who build new LSTs using LSaaS.
3. Expanding the Modularity Platform
Our vision for the LSaaS Modularity Platform is to operate like an app store for LST development, providing a rich selection of tools and modules that developers can utilize to build their projects. With existing modules such as Frontend, Point, AI, Blink, Restaking, and Crosschain (CCIP) already available, we aim to accelerate the release of new toolkits that will enhance the platform’s capabilities. In the near future, we plan to share the revenue growth of LSaaS with module developers, creating a sustainable growth ecosystem.
4. New Stack, Module, and rTokens
Stacks act as the foundational layer for LSaaS, while modules function as accelerators that enhance its capabilities. rTokens, on the other hand, showcase practical use cases of LSaaS, creating a unique and comprehensive development structure that sets StaFi apart in the market. In addition to third-party contributions, core community members will continue to develop new stacks, modules, and rTokens to further increase StaFi LSaaS’s competitiveness. The exact nature of these developments will depend on evolving market trends, experience, and the community’s needs, leaving room for innovation as opportunities arise. Let’s watch and see what new features emerge!
Summary
As we focus on the remainder of Q4, the roadmap outlines several major proposals:
- Two key proposals for FIS tokenomics: One addressing deflation and one addressing LSaaS adoption.
- Two grant proposals to support LSaaS adoption and incentivize builders.
- Execution of the StaFiHub migration to Neutron, with a proposal to eventually remove the appchain.
StaFi is now fully transitioning to LSaaS, abstracting technology from rToken and developing a comprehensive LST infrastructure. This includes decoupling rToken security from the StaFi appchain and migrating it to native chains, a move that will streamline operations and reduce unnecessary dependencies.
One key area still under review is the activation of a buy-and-burn mechanism for FIS through protocol income. Although the current protocol income is still modest, the goal is to diversify the treasury’s assets with holdings like rETH, rSOL, and rATOM. The community will engage in further discussions around this in the coming quarters, as we work towards refining and finalizing the proposal.
The road ahead is both challenging and exciting, and we are eager to continue building and expanding the StaFi ecosystem with our community and partners.
About StaFi 2.0
StaFi 2.0 will be a major upgrade and rebranding. In terms of positioning, StaFi will transform from a multi-chain LSD protocol to an LSD Infra Layer, and the brand will also be upgraded accordingly. In terms of tokenomics, FIS will introduce a burn mechanism and add new utilities. In terms of security, on top of the existing chain security, it will support contract layer security, including support and frameworks for multiple VMs such as EVM and WASM.
Read more about StaFi 2.0.
