StaFi Protocol Monthly-April Community Updates
In April, StaFi worked on many grounds but the focal point of attention was the development of staking derivative layer 1, StaFiHub. The public testnet of StaFiHub was launched and it also witnessed a highly crucial collaboration with a Cosmos project, IRISnet. The roadmap of Q2 was released containing our goals for this quarter.
This month also revealed the plans of StaFi core to work on the StaFi Subnet. Another important event was the release of the StaFi Eco Accelerator Grant program to invite the community to play a relevant role in its growth.
Let us read more on the April’s progress.
On April 13th, an article was shared that StaFi Protocol is looking to expand the horizon of its staking derivatives to include the Avalanche Subnets with StaFi Subnet. StaFi wants to build a subnet that can fully liquify assets staked in each blockchain which aims to provide a StaFi solution to the subnets created in Avalanche.
2.StaFiHub Public Testnet went live
On 19th April, the public testnet of StaFiHub was released and we launched the Bug Bounty for StaFiHub to utilize the community’s strength in finding undiscovered vulnerabilities & code bugs. It includes rewards from $10 to $25,000 in the native token, $FIS.
3.StaFi Eco Accelerator Grant Program Launched
StaFi Foundation launched SEAG on 26th April to fund and incentivize the projects, developers, marketing agencies who will help the growth of StaFi’s ecosystem. This grant is focused on funding software development, product design, and technical research efforts related to StaFi.
The roadmap for Q2 of 2022 was released on 1st of April, it provides a guide of our next steps & gives users a scope of the platform & our growth prospects.
2.$FIS is under consideration for a listing on CoinBase
On April 13th, we shared with our community that our native token, $FIS, is under consideration for a listing on Coinbase. Let us wait for good news on this soon.
3.Warrior Contribution for March
On 14th of April, the admirable content created by our valued StaFi Warriors in various formats was shared through our Twitter handle. This plays a significant role in the brand awareness of StaFi.
Visit here to check out the contributions: https://twitter.com/StaFi_Protocol/status/1514579473697415170
4.Vote on Forum
We have organized a poll for our community on our Forum channel. The poll will collect information from the community on which Cosmos projects you would like to see first on StaFiHub.
Participate in the poll here: https://commonwealth.im/stafi/discussion/4514-which-rtokens-to-build-for-cosmos-ecosystem-projects
5.Twitter Space AMA
On 25th of April, an exciting Twitter space was organized by the StaFi team where we were joined by our new partners, the team of IRISnet. It was a highly informative session for our community.
StaFiHub partners with IRIS Network
On April 21st, StaFiHub and IRISnet entered into a strategic cooperation agreement to build and expand the liquid staking solution called rIRIS for IRISnet’s native token $IRIS, based on StaFiHub’s Liquid Staking SDK. This is the first integration bagged by StaFiHub in the Cosmos ecosystem.
In April, it was exciting to carry out the release of StaFiHub on the public testnet and the migration of rATOM from StaFi chain to StaFiHub chain. Also, there were many users in the community who have provided useful feedback for chain, rToken App and other future developments, which have been adopted in the new version of StaFiHub in real time. In addition to rATOM, the rIRIS will be integrated into StaFiHub in May. Like rATOM, our users could stake IRIS in the StaFiHub App once all the integration work is done. At the same time, the integration of rPool and rDEX are also going-on and will be released in May. Please stay tuned for another productive month ahead!
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.