StaFi Protocol Monthly-April Community Updates
In April, the StaFi team concentrated on developing and testing three important rTokens including rDOT, rKSM and rATOM. After a lot of code review, third-party security audit and testing, rDOT and rKSM Apps have been launched on the mainnet in late April. rATOM is supposed to be launched in the early May after heavy testing and security audit. Meanwhile，StaFi rToken Dashboard rAsset App has been live on mainnet.Now all the users could use rAsset App to manage rToken assets, like knowing the amount of rTokens in the wallet, total values of rTokens and redeemable native tokens. rAsset will be continuously updated to bring better product experience.
The following are details of the general progress in April.
Technical Update
1.rKSM
On April 22, StaFi launched the liquid staking solution rKSM on mainnet.rKSM APP will bring the maximized staking reward and friendly liquidity of staking KSM simultaneously. The estimated staking APY via rKSM is around 16%. And rAsset App has already integrated rKSM, users can use rAsset to Mint ERC20 format rKSM and trade on Uniswap.
2.rDOT
On April 27, the first DOT liquid staking App rDOT was launched on mainnet. rDOT App will help users enjoy the maximized staking reward and friendly liquidity of staking DOT at the same time. Now the estimated DOT staking APY through rDOT is around 14.9%. rAsset App has already integrated rDOT, users can use rAsset to Mint ERC20 format rDOT and trade on Uniswap.
3.rAsset
On April 28, StaFi released the dashboard product rAsset. So all the rToken holders could use rAsset App to manage their rToken assets, like knowing the amount of rTokens in the wallet, total values of held rTokens and redeemable native tokens etc..At the same time, the cross-chain App rBridge has been integrated into rAsset App, the rToken holders could use the “Swap” function of rAsset App to swap rTokens between StaFi chain and Ethereum, then leverage “Trade” function of rAsset App to trade the ERC-20 wrapped rTokens on Uniswap directly. StaFi will keep updating the rAsset App to make it more and more friendly UI/UX for all rToken holders.
4.v0.4.2 Upgrade
On April 16, StaFi mainnet was upgraded to v0.4.2. The main updates of the latest version are as follows:
1) Add rToken modules
2) Add xclaim module
Community Building
1.Q2 Roadmap
On April 2, StaFi released the 2021Q2 roadmap and will focus on the following 3 works:
1) Launch rDOT/rKSM/rATOM and other rToken
2) Build rSubstrate and rTendermint general solutions
3) Roll out StakingDrop2
2.Validator Grant
On April 12, StaFi released the 5 winners of Validator Grant for 2021Q1 and they will be nominated to reward the great contribution. And we also made some adjustments for Grant Rules which will be executed in the next submission.
3.StaFi Warriors program
On April 12, StaFi released the incentives for the Warriors Program for March. In that month, StaFi Warriors created varied types of contents with high quality, and through those materials, community members had a better understanding of StaFi products. The StaFi community is growing strongly.
4.New Milestone
As of April 16, 10,000,000 native FIS have been swapped into ERC20 FIS via StaFi rBridge which valued around 33 million USDT and entered the Ethereum ecosystem.
5.StaFi raised a proposal on Curve to add rETH/ETH trading pairs
On April 29, in order to improve the liquidity and adoption of rETH token, StaFi just raised a proposal on Curve DAO to add the rETH/ETH trading pair. If the proposal is passed, the liquidity and adoption of rETH will be greatly boosted, and this will be another big milestone for StaFi’s rToken development. As to encourage veCRV holders to vote, we have prepared an incentive program of 120K FIS tokens for the rETH/ETH traders on Curve.
6.StaFi released rToken App Video Collection Campaign
On April 30, StaFi released rToken App Video Collection Campaign. Community menbers could make a tutorial video about how to use rToken App to stake FIS, ETH, DOT and KSM tokens, as well as use the rAsset App to swap into ERC-20 rTokens.
May Prospects
We went through a very special and fruitful period in April. In order to make the underlying architecture of rTokens to have the ability to support horizontal expansion , we did a lot of work on technical architecture building, code modification and testing, which led to the delay of the launching rKSM and rDOT Apps.
But bitterness ends, sweetness begins, StaFi now has very good expansion capabilities, and the new rToken development period will be greatly shortened in the future. In May, we will launch rATOM App. Meanwhile, we will launch related liquidity yield farming with our partners to provide more application scenarios for rTokens. In addition, we will continue to optimize the UI/UX experience of rToken App, such as adding more intuitive data reports. In short, May will be the harvest season for StaFi.
About StaFi Protocol
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. FIS is the native token on StaFi Chain. FIS is required to provide security to the network by staking, pay for transaction fees on the StaFi chain, and mint & redeem rTokens.
Website: www.stafi.io
rFIS Product: https://rtoken.stafi.io/rfis
rETH Product: https://rtoken.stafi.io/reth
Twitter:@Stafi_Protocol
Telegram Chat: https://t.me/stafi_protocol
Telegram Announcements: https://t.me/stafi_ann
Discord: https://discord.com/invite/jB77etn
Forum: https://commonwealth.im/stafi
