StaFi Protocol Monthly — December Community Update
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We are thrilled to report on the many exciting updates and developments from the StaFi Protocol team in December! Some of the highlights include the launch of the FIS/ATOM trading pool on the rDEX platform, the extension of the MintDrop campaign, and the launch of a liquidity mining campaign for the rATOM/ATOM pool on rDEX. We also released the StaFi Warriors page on our official website and held our first community call with StaFi Warriors. In addition, we completed the migration of our rBridge contract, opened a new rDEX/rPool governance forum. These achievements are a testament to the hard work and dedication of our team and we look forward to continuing to drive innovation and growth in the coming months.
Technical Updates
1. rDEX Launches FIS / ATOM Pool on StaFiHub Chain
Following a successful discussion in the StaFiHub DAO Governance Forum and testing by developers, the FIS/ATOM trading pool has been launched on the rDEX platform (StaFiHub chain) on the 14th December. This marks an important milestone for the StaFiHub community, as the $FIS/$ATOM pool is now available for trading on the rDEX platform.
This development is expected to provide greater liquidity and market depth for $FIS and $ATOM, and offer more opportunities for users to trade and invest in these assets. It is also expected to support the growth and adoption of StaFiHub’s liquid staking solutions.
Add Liquidity: https://app.rdex.finance/stafihub/liquidity
2. StaFiHub MintDrop Campaign Extension Launches
On December 16th, the StaFiHub MintDrop Campaign, valued at 320,000 $FIS, went live. This new campaign is set to run for an additional 30 days and will reward $rATOM, $rIRIS, and $rHUAHUA with 200,000, 100,000, and 20,000 $FIS, respectively.
This campaign is an opportunity for participants to earn rewards for staking and minting on the StaFiHub platform, and it is expected to bring additional liquidity and market depth to the StaFi ecosystem.
Participate: https://app.stafihub.io/rPool?tab=inProgress
3. StaFi Warrior Page Goes Live
The StaFi Warriors page went live on the official StaFi Protocol website on the 19th December! This new page contains all the important information about the StaFi Warriors program, including details about how to participate and what is expected of Warriors.
The StaFi Warriors team is made up of community members who are deeply committed to the concepts and prospects of StaFi. They work closely with the core team to promote and disseminate StaFi’s vision and mission, and to build an open, free, and self-governed StaFi community.
4. rDEX Launches rATOM/ATOM Liquidity Mining Campaign
A liquidity farming campaign has been launched for the rATOM/ATOM pool on rDEX with an initial APR of 10,754.14%. The campaign includes a mintdrop program with 200K $FIS rewards for those who mint $rATOM and a liquidity mining program for liquidity providers (LPs) who deposit liquidity to the rATOM/ATOM pool. LPs can earn $FIS incentives for their liquidity deposits and have the potential to accumulate $ATOM tokens without impermanent loss risk.
Add Liquidity: https://app.rdex.finance/stafihub/liquidity
Community Updates
1. First Community Call With StaFi Warriors
To strengthen team and community bonds, StaFi’s Core Team announced that they would host monthly meetings with the community to provide updates on the StaFi Ecosystem. The first meeting took place on December 1st, 2022, with attendance from the StaFi core team, moderators, and community members. Blank Lee, one of StaFi’s Core Developers, hosted the meeting.
Watch Recording: https://www.youtube.com/watch?v=vo8ytDRefLs
Meeting Summary: https://commonwealth.im/stafi/discussion/8014-stafi-hosts-firstever-meeting-with-its-moderators-and-community-members
2. StaFiHub Influencers Contest
StaFiHub is hosting an influencers contest from December 6th 2022 — January 5th 2023 to promote its brand, attract new users, and engage with its existing community. The contest will focus on three topics related to StaFiHub’s liquid staking solutions in the Cosmos ecosystem: the unique features of these solutions, the importance of the delegation strategy and StaFiHub’s smart automatic delegation algorithm, and the potential for StaFiHub to succeed in the Cosmos ecosystem.
The goals of the contest include fostering community growth, encouraging interaction between StaFiHub and the Cosmos ecosystem, and sharing knowledge and experiences with others.
3. StaFi Youtube Influencer Program
On December 8th, StaFi launched a program to find YouTube influencers to promote its brand on the platform. As part of the program, influencers will be responsible for creating product demo and explanatory videos, as well as creating engaging content for StaFi events.
Apply: https://commonwealth.im/stafi/discussions/StaFi%20Warriors%20Application%20Topic
4. Proposal To Create FIS/ATOM Pool on rDEX (StaFiHub Chain)
On December 9th, Blank Lee, a Core Developer at StaFi Protocol, proposed the creation of a FIS/ATOM trading pool on the rDEX platform (StaFiHub Chain). This proposal was made in response to the demand for a $FIS token trading pool in the Cosmos ecosystem and aims to provide StaFiHub users with greater access to $FIS, increase liquidity and market depth for $FIS and $ATOM on rDEX, and support the growth and adoption of StaFiHub’s liquid staking solutions.
5. StaFi Rangers Program Report
On the 9th December, AlphaTower, A StaFi Community Manager released a report for the StaFi Rangers Program. During the first week of the Rangers Program, there was a noticeable increase in engagements even with only a few active participants. Based on data from Q4 2022, it is projected that December’s engagement and interaction data will surpass that of October and November, depending on the tweet output of StaFi’s official Twitter accounts.
Full Report Link: https://docs.google.com/document/d/14OrXu7TIjuN60u5CBkWNa3Cmix82FsuyltzVdTfKKDc/edit?usp=sharing
6. Proposal For Extension of StaFiHub Mintdrop Campaign
StaFiHub, a scalable, decentralized cross-chain staking derivatives protocol, has helped users maximize the potential of their staked assets in various ecosystems, including Chihuahua, Cosmos, and IRISnet, through the MintDrop Campaign. The campaign, which launched on August 30th, 2022, involved an overall pool of 200,000 tokens deployed on StaFiHub to reward liquidity stakes for staking ATOM and minting rATOM. As the campaign nears its end, a significant portion of FIS remains unclaimed, prompting StaFiHub to propose an extension of the campaign in response to a poll in which 60% of the community expressed support for increasing the initial airdrop ratio, extending the campaign duration, and improving the staking APR.
The $rATOM minters campaign rewarded ATOM stakers with FIS over a 90-day period with a 16.56% APR, with rIRIS and rATOM from Iris Network and Cosmos, respectively, having recently completed their runs in the campaign and rHUAHUA from the Chihuahua Chain currently in progress.
7.StaFi Warrior Contributions in November Released
On December 14th, the StaFi Warriors team released their contributions for the month of November. The team was able to achieve more success through the optimization of management and the recruitment of new talents. StaFi would like to thank all Warriors for their hard work and dedication, and applaud their efforts in contributing to the organization’s success.
8.StaFi Warriors Reward Mechanism
To ensure that all efforts are focused on promoting the StaFi vision and spreading knowledge about liquidity staking, we have designed the StaFi Warrior Program Reward Mechanism on the 21st December. This includes optimizing community interactions, providing timely responses to questions from community members, and creating high-quality videos and memes to advocate for StaFi and educate the wider DeFi and blockchain community.
9.Twitter Polls
https://twitter.com/StaFi_Protocol/status/1598943616667643904
https://twitter.com/StaFi_Protocol/status/1601557176413454336
https://twitter.com/StaFi_Protocol/status/1606600013475643393
https://twitter.com/rDEX_Finance/status/1601556709553491969
https://twitter.com/rDEX_Finance/status/1604061707562647552
https://twitter.com/StaFiHub_/status/1598969179411185664
Collaborations
1. Twitter Spaces AMA — @StaFiHub_ x @WhiteWhaleDefi
On December 13, StaFi hosted a joint event with White Whale to discuss the details and implications of their recent collaboration. During the event, they discussed topics such as the market coverage of their collaboration and the conversion rate of Liquid Staking Derivatives (LSDs). A playback recording is made available on Twitter Spaces for our community to listen during their time of convenience.
Recording: https://twitter.com/WhiteWhaleDefi/status/1602376130874441737
2. Partnership between White Whale and StaFi
On December 9th, White Whale announced a partnership with StaFi Protocol to expand the reach of StaFi’s liquid staking derivatives using the Inter-Blockchain Communication (IBC) protocol. White Whale will launch its first pool, a rHUAHUA/HUAHUA pool on the Chihuahua Chain, which will allow HUAHUA stakers to easily swap in and out of the LSD without the need to wait for an unstaking period.
To try trading rHUAHUA for yourself, visit http://app.whitewhale.money.
3. Partnership between BlockPi and StaFi
StaFi is pleased to announce a new partnership on December 1st with BlockPI, a high-performance, globally distributed API service provider for Web3 developers. This partnership will enhance the decentralization and safety of StaFi Protocol’s relayer nodes, which will support liquid staking on its DApp. As part of the partnership, BlockPI will offer up to $1000 in credits to startup projects through its Web3 Startup Program. These credits can be redeemed for any BlockPI API service package at no cost, freeing up startups to focus on their projects rather than infrastructure. BlockPI’s experienced tech team will also provide dedicated support through a dedicated Telegram group. We are excited to work with BlockPI to improve the safety of our relayer services.
January Prospects
Our primary development focus for January is the rToken App V4. We have completed the optimization and internal testing of rMATIC and will be starting work on rBNB, rBridge, and a new version of the StaFiHub chain. In terms of community efforts, we will continue to prioritize DAO Building and promote offline governance activities. we will continue to strengthen StaFi Warrior participation and explore improved governance methods in the near future. Building remains a key focus for us in January.
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.
