StaFi Protocol Monthly-January Community Updates

The past month actually saw StaFi rTokens officially listed in the market. StaFi also successively launched 2-way rBridge, rFIS and rETH solutions. At the same time, we started to create and release some infographics to help the community understand StaFi rToken more easily and conveniently, such as staking data, FIS/rFIS comparison diagram, ETH2.0 mainstream liquidity solutions comparison, etc. We also reached cooperations with the open source protocol Marlin. StaFi will help Marlin create liquid derivatives based on POND (MarLin Mainnet Token). Overall, January has been a harvest month.

Technical Update

1.rETH Solution

1)In January, PeckShield, the blockchain audit team, conducted a comprehensive review of the rETH code and proposed amendments.

Please check the audit report.

2) On 17th Dec, StaFi released the rETH testnet, which was followed by a three-week incentive campaign. According to statistics, a total of 303 users and 294 validators participated in this campaign, the amount of staked ETH was 13,251 ETH (testing), and a total of 22,000 FIS were distributed to the winners.

3)On 26th Jan, StaFi initiated rETH Original Validator recruitment campaign. Any ETH2.0 validators could join in without permission by simply following 3 steps. The OVs’ staking profits would be 23.50% higher than the case where the 32 ETH was totally self-funded, Moreover, OVs could redeem 2 or 4 ETH per node.

4)On 29th Jan, StaFi officially launched the ETH2.0 liquidity solution-rETH, and the rETH launch incentive campaign will also be released soon. With rETH, users can enjoy one-click staking without any technical threshold, and the minimum staking amount is 0.01 ETH. Validators can run multiple staking pools to get a higher ROI, and redeem part of deposits for liquidity backed by StaFi.

2.rFIS Solution

1) On 19th Jan，StaFi initiated the rFIS Original Validator recruitment campaign.Any PoS validators could join in without permission by simply following 3 steps, whereby they could win 10% more commission of the staking rewards without paying costs to attract nominations like before.

2) StaFi rFIS product was launched on 22nd Jan, 2021, after completing community testing and PeckShield security audit. In order to incentivize FIS holders to participate in rFIS products, we launched a StakingDrop incentive campaign for the rFIS product. From 22nd Jan to 30th Jan, 2021, stakers who participate in FIS staking by using the rFIS product could have the chance to receive the StakingDrop.

3.rBridge

On 22nd Jan, StaFi launched the 2-way Bridge. Users can swap the substrate FIS and rFIS to ERC20 format, or convert ERC20FIS and rFIS to the Substrate format. At the same time, StaFi opened ETH-FIS and ETH-rFIS trading pairs on Uniswap.

4.StaFi mainnet Upgrade

On 20th Jan, the StaFi mainnet was upgraded to v0.4.0. version. The update includes:

FIS to the pool to get rFIS.

1. Add rFIS function, validator can register as an OV and a user can bond FIS to the pool to get rFIS.

2. Support two-way bridge, a user can swap ERC20 FIS to native FIS now. The bridge supports rFIS too.

3. Check new types.json here(https://github.com/stafiprotocol/stafi-bootstrap/blob/master/types.json). It will take effect after performing the runtime upgrade.

Community Development

1.Q1 Roadmap

On 5th Jan, StaFi released the 2020 Q1 roadmap. The main work is the development of rToken, rBridge, StakingDrop and the exploration of rToken application scenarios and Polkadot ecosystem. In addition, StaFi will soon release OV and SSV recruitment plans. In general, Q1 is the stage when StaFi products will go to market.

2.Validator Grant

On 7th Jan, StaFi released the second batch of validator grants list.

3.Warriors Program

On 13th Jan, StaFi announced the December ambassador incentives. Compared with November, more and more StaFi Warriors contributed a lot of high-quality content to the StaFi community and ecosystem.

4.Staking Status

On 16th Jan, StaFi released the staking status. There are 1,400 stakers, 141 validators, and 153 nodes in the StaFi mainnet, with a total of 19.98 million staked FIS. For more data, please check:

5.Uniswap Status

On 18th Jan, StaFi released the ETH-FIS transaction data on Uniswap. As of the time of announcement, the total liquidity reached $244,945, and the trading volume (24hrs) was $1,131,453.

6.FIS/rFIS comparison chart

On 25th Jan, StaFi released a FIS/rFIS comparison chart, which compared the two tokens in terms of function, token standard, circulation and supply to help the community understand more easily and directly.

7.Comparison of main liquidity solutions of ETH2.0

On 26th Jan, we sorted out the current main ETH2.0 liquidity solutions in the market, including StaFi, Lido, Ankr, and Rocket Pool. We made an infographic which compares the staking derivative tokens, exchange rates, handling fees, and validator entry thresholds between the StaFi rETH and other solutions.

8.SV/OV/SSV

On 28th Jan，StaFi realeased the infographic about the differences between SV, OV and SSV.For simplicity, SV and OV are block producers on PoS Chains, differing from StaFi and other PoS chains. SSV is the manager of Staking Contracts built on StaFi.

Collaboration

1.FIS Listed on Exchanges

1) At 18:00 on 14th Jan (UTC+8), StaFi native Token FIS was listed on Biki exchange, with support for the FIS/USDT trading pair.

2) At 12:00 on 29th Jan (UTC+8), StaFi’s native Token FIS was listed on the Gate exchange, with support for FIS/USDT trading pairs.

2.StaFi AMA

1) On 19th Jan, Liam, the founder of StaFi, was invited to participate in Biki Talk to share his views on Polkadot Staking derivatives with the Biki community.

2) On 14th Jan, StaFi invited Ruby, the head of Infstones marketing department, and Soph, the core member of the P-OPS team, to share the StaFi ETH2.0 liquidity solution and their experience of rETH.

3) On 20th Jan, StaFi invited Felix Lutsch, head of BD of Chorus, to talk about StaFi OV (Original Validator) plan and rETH and rFIS liquidity solutions.

StaFi & Marlin

On 26th Jan, StaFi and Marlin reached a cooperation. Marlin is an open protocol providing high-performance programmable network infrastructure for DeFi and Web 3.0.

This partnership will help create liquid staking derivatives of Marlin’s network token $POND, as well as integrate Marlin’s layer-0 scaling protocol onto the StaFi Platform. More avenues of mutual benefit are to be explored together.

February Prospect

In January, we launched the rETH and rFIS solutions. In the month of February, we will promote the application of rETH and rFIS in DeFi. Of course, we will also incentivize the liquidity of rETH and rFIS on Dex to increase the trading volume.

In addition, in order to better expand the volume, we will speed up the development of rDOT/rKSM, rXTZ and rATOM, and strive to be able to line rDOT and rKSM on the testnet in February and submit them for audit.

We have received many grant invitations from PoS projects that hope we can help develop the staking derivatives, like rROSE, rAVAX, rPOND, etc. We will speed up such efforts after the development of rToken. We will also formulate corresponding liquidity incentives and increase application scenarios after the application is launched. In short, we expect more in February.

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