StaFi Protocol Monthly-February Community Updates
In February, rDEX remained the prime focus of the StaFi team. StaFi would allocate 5 million $FIS as the total reward pool for the rDEX Liquidity Mining Program. For the functional suggestions reported during the Bug Bounty period, we have already communicated with the reporters regarding the evaluation of these bugs and these were fixed as well. Also, the long-term bug bounty was commenced jointly with Immunefi. The works for rDEX online have been completed and rDEX will be launched on mainnet in the early March.
Here are the details of February’s progress.
1) On Feb 3rd, StaFi released the rDEX incentive program, under this 5,000,000 $FIS will be allocated to liquidity mining reward pools to bootstrap the liquidity of rDEX in the long-term.
2) On Feb 4th, the rDEX was fully audited by Packshield, all potential bugs outlined have been fixed. Check the audit report.
3) On Feb 9th, the introduction video of rDEX was posted which explains how the rDEX impacts the entire StaFi ecosystem.
4) On Feb 11th, the rDEX website powered by StaFi went live, the main features are mentioned below:
- Educational video on the main page
- Easily navigate to rDEX App
- Key features overview of rDEX: continuous liquidity for rToken; lower slippage; asymmetrical deposit
2. v0.5.0 Upgrade
On Feb 18th, StaFi released v0.5.0 Upgrade of StaFi Chain, the main updates included:
1) An AMM DEX for rToken- rDEX, together with LP mining programs.
1.StaFi Warriors Campaign
On Feb 14th, the contribution in January came out. Various forms of content created by our enthusiastic warriors continuously help improve StaFi brand awareness.
2.rDEX Bug Bounty Recap
The rDEX bug bounty program ended on 17/2/2022. As a result, we have received 6 highly valuable feedbacks and the majority of Bug Reports were functional optimization suggestions. 6 community members who contributed will be awarded with $100 to $800 USDT (in $FIS).
Find out more: https://medium.com/stafi/rdex-bug-bounty-recap-d3e2aab48840
3. Media Publications Summary
On Feb 19th, we summarized the multiple media publications regarding StaFi over the past year, which has facilitated a general understanding of StaFi’s core ideas.
View More Below:
1)From Staking Rewards: 2021/10
2)From TokenInsight: 2021/9
3)From Messari: 2021/9
4)From CoinTelegraph: 2021/5
5)From CoinTelegraph: 2020/7
1.StaFi & Immunefi
On Feb 12th, StaFi and Immunefi jointly launched a Bug Bounty for rDEX to discover potential security vulnerabilities. Critical bugs found will be rewarded up to $25,000 in $FIS.
We continued working on rDEX and StaFiHub through February. The short-term Community Bug Bounty for rDEX has completed, and the long-term Bug Bounty program is still ongoing on Immunefi.
rDEX is ready to be deployed on mainnet, just wait for the right moment and it will be very soon. In addition, we have communicated with many PR agencies to help rDEX with the marketing strategies. Considering the entire secondary-market situation right now, we will only adopt some strategies which we find suitable, to make more efforts for the branding of StaFi and rDEX. The development of StaFiHub is smoother than expected, but there are many modules, which are still under development. We will synchronize with the community if there is a progress update.
At the same time, we have discussed Staking Derivatives with the Cosmos community and projects. We have obtained more constructive suggestions, which will guide our follow-up work well.
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.