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Introducing rATOM Solution V2


StaFi initially released the liquid staking solution for ATOM stakers ( rATOM Solution V1) on the StaFi chain back in April 2021. The rATOM Solution V1 has been in operation safely and successfully for over a year. At its peak, the highest TVL of the rATOM Solution V1 recorded was over 7M $USD.

With that being said, there have been many arduous challenges faced along the way. In the past year, we have received many community complaints regarding the UI/UX of the rATOM Solution V1 due to cross-chain issues between the StaFi chain and Cosmos Hub.

The Liquid Staking Token $rATOM is issued on the StaFi chain according to the rATOM Solution V1 consensus. However, many rATOM holders would like the rATOM token to be integrated into Cosmos Ecosystem DeFi Applications such as the Sifchain and Osmosis DEX. We have tried implementing a cross chain solution between StaFi chain (Substrate) and Cosmos Ecosystem DeFi Chains (Cosmos SDK) , however, this solution is far from perfect and experiences cross-chain issues that inconveniences rATOM holders as well as greatly limits the adoption of the rATOM token.

Therefore, the rATOM Solution V2 plans to rectify these problems face. This was also one of the great reasons why we initiated the development of StaFiHub. If you would like to know more about the current architecture of the rATOM Solution V1 circulation scenarios, you are welcome to read the rATOM Solution V1 whitepaper and StaFiHub solution proposal.

V2 Introduction

To solve the unfriendly UI/UX caused by the cross-chain issue mentioned above, we have introduced the rATOM Solution V2 which will be built on the StaFiHub chain instead.

rATOM Solution V2 will have the following features:
1.It will be deployed on the StaFiHub chain which is built based on the Cosmos SDK;

2.$rATOM may be transferred through the IBC protocol between StaFiHub and other Cosmos Ecosystem chains;

3.Support of Interchain Accounts which will be used to collect all users’ staked ATOMs instead of using the multi-sign account previously implemented in the rATOM Solution V1. This will improve the security of the users’ funds.

4.Utilization of the StaFiHub Delegation Algorithm to maximize staking rewards, minimize potential losses and decentralize delegations to avoid voting power centralization.

5.A Specialized AMM DEX called rDEX on StaFiHub to support the trading between new rATOMs against native ATOMs.

Migration From V1 to V2

During the deployment of the rATOM Solution V2 on the StaFiHub chain, rATOM Solution V1 on the StaFi chain will be migrated into the rATOM Solution V2. This means that the rATOM tokens minted on the StaFi chain will be replaced by the rATOM tokens minted on the StaFiHub chain.

StaFi Core will ensure a smooth V2 migration for the users of rATOM Solution V1 with the following procedure:

1.StaFiHub mainnet is deployed online. StaFi chain decomissions rATOM Solution V1 services including the relay services, staking and redeeming.

2.rATOM Solution V1’s on-chain data in history on StaFi chain will remain unchanged.

3.StaFiHub initializes rATOM Solution V2 deployment based on the on-chain records of rATOM Solution V1 on StaFi chain.

4.rATOM Solution V2 goes live for the community on StaFiHub. At this stage, the migration is mostly complete and users may start staking ATOM on StaFiHub.

Most importantly, staking rewards for rATOM V1 holders will still increase during the migration period. Therefore, your staking yields will not be affected by this migration.

If you are interested to learn more about the rATOM Solution V1 migration, please refer to the rATOM Migration Documentation.

As for the current users of rATOM Solution V1, the following will take place:

rATOM V1 Holders

1.When V2 is deployed, users can no longer stake their ATOMs on the V1.

2.rATOMs issued on the StaFi chain can be exchanged through the rBridge to obtain your corresponding rATOMs on the StaFiHub Chain. You may then redeem your rATOMs on the StaFiHub Chain.

3.The rATOM token cross-chain function between StaFiHub and StaFi chain will be only one way directional (from StaFi chain to StaFiHub chain). We will not support the rATOMs issued on StaFiHub to be transferred to the StaFi chain.

Third-party Integrations

At the current moment, rATOMs issued on the StaFi chain have been integrated into the following Dapps such as Liqee, Sifchain, rDEX, Uniswap, etc. Hence, StaFi protocol aims to work with the third-parties concerned to ensure a smooth migration for related users.

The migration of the rATOM Solution will take place after the StaFiHub mainnet launch. We will make further announcements as the migration occurs.

Migration Q&As

1.What will happen to the rATOM Solution on the StaFi chain right now?

Its related services will be decommissioned and made unavailable to stakers after the migration.

2.What should I do if I hold the rATOMs from the rATOM V1 Solution?

Do not worry, your funds are safe. Your rATOM tokens can be bridged over to the StaFiHub chain through our rBridge App.The new rATOMs on StaFiHub chain still represent your staked ATOMs and staking rewards previously generated.

3.I have the rATOMs on the BSC chain or Ethereum chain, what should I do?

You will need to use the rBridge to exchange your rATOMs to the new rATOMs on StaFiHub chain by following these 2 steps:
Step1: Bridge them into the rATOMs on the StaFi chain;
Step2: Swap rATOMs from StaFichain to new rATOMs on the StaFiHub

4.Can rATOMs on StaFiHub be transferred to the StaFi chain again?

No, this will not be supported.

5.May I redeem ATOMs on rATOM Solution V1 after Migration?

No, you will have to redeem them through the rATOM Solution V2 on StaFiHub.

About StaFiHub

StaFiHub is a Cosmos SDK built project developed by StaFi protocol to provide Smart Liquid Staking Solution for Cosmos Eco projects. With StaFiHub, Cosmos Eco projects to easily and quickly get their own liquid staking derivatives in a few days. StaFiHub is the first liquid staking project that innovates an automatic delegation algorithm that could maximize the staking rewards for stakers and decentralize the voting power for PoS chains.

Website | StaFiHub App(Testnet) | Twitter | Discord



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StaFi_Protocol A Decentralize Protocol to Provide the liquidity of Your Staking Assets