StaFi Protocol Monthly-November Community Update

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StaFi

5 min readDec 2, 2024

November has been a highly rewarding month for StaFi, marked by significant progress and achievements. The StaFiHub migration is advancing steadily, with the successful transition of rATOM from StaFiHub to Neutron. Additionally, the vPLS Pulsechain LSD, built on the StaFi LSaaS Stack, was successfully launched. In response to community feedback, StaFi made adjustments to the LSaaS Ecosystem Incentive Proposal, which is now moving toward the voting phase. Let’s take a closer look at the key highlights and milestones achieved during this productive month.

Product & Development

1. PulseChain LSD — vPLS

On November 6th, StaFi announced the successful launch of Pulsechain LSD ($vPLS), developed by the Vouch team using StaFi’s LSaaS framework. This milestone highlights StaFi LSaaS as a powerful and reliable solution for LSD development, further solidifying its position in the ecosystem.

2. Bridge Removal

On November 7th, StaFi announced the upcoming removal of the $FIS bridge between StaFi and Solana in the rToken App, scheduled for December 10th. If you hold $FIS on the Solana chain, please migrate it back to the StaFi chain ASAP.

Migration Guide: https://docs.stafi.io/stake/bridge/#guide

3. Staking Letter#11: StaFiHub Migration Detail

On November 13th, StaFi released Staking Letter #11, outlining the StaFi Hub migration plan and key updates. The letter detailed the migration timeline, user migration process, updates on other rTokens, and key node developments. Additionally, an important update for StaFi Hub validators was highlighted: a new one-year rewards allocation will soon be transferred from the StaFi Chain to the StaFi Hub to incentivize validators and support a smooth migration process. Any unused rewards will be returned to the StaFi Chain.

4. rATOM Transition to Neutron

On November 26th, the migration of rATOM to Neutron was successfully completed, and all related functions are now fully operational. This transition enhances efficiency within the Cosmos ecosystem, eliminating the need for cross-chain operations in #DeFi activities.

🔔 Important Reminder

With $rATOM now live on Neutron, its liquidity management would also take place on Neutron. Don’t forget to bridge your $rATOM from StaFi Hub to Neutron to ensure smooth operations.

Proposals

StaFi LSaaS Ecosystem And Community Incentive Program Updates

On November 20th, StaFi updated the LSaaS ecosystem incentive proposal based on the community’s feedback. Here are the key adjustments:

The budget has been reduced from 2 million $FIS to 1 million $FIS, sourced entirely from the existing treasury, with no new minting. This amount aligns with approximately three months of FIS burn.
The grant allocation process, requiring community voting, remains unchanged.
The timeline has been adjusted, with events to be scheduled after community approval.

Community Updates & Collaborations

1. StaFi Highlights In Bangkok

2. StaFi DAO Financial Report for October 2024

On November 7th, StaFi published the DAO Financial Report for October 2024, highlighting the following:

Treasury $FIS: 38,452,980
October Expenses: 367,037 $FIS
$FIS Burned: 365,861
rToken Revenue: See report
Governance: Proposal & vote on Liquid Staking Modularity App Store

3. rLaunchpad Season 3 Now Open

Following the successful release of the $TON LSD Stack and the conclusion of rLaunchpad Season 2, StaFi announced the launch of rLaunchpad Season 3 on November 15th!

The new season is now open for rToken and LSaaS Stack proposal submissions. Don’t miss this opportunity to contribute!

Proposal submission: https://dao.stafi.io/c/newrtoken/2

4. Treasury FIS Burn Update #2

On November 20th, StaFi provided an update on its treasury FIS burn progress:

Latest Burned: 362,765 FIS (November 20th, 2024)
Total Burned: 865,345 FIS (0.58% of total supply)
TX: Transaction details
Understanding the FIS Burn Mechanism: Read more

5. New Partner — CoralApp

On November 21st, StaFi announced a partnership with CoralApp, a cutting-edge mobile ecosystem designed for the multi-chain landscape. CoralApp’s AI-powered Web3 platform seamlessly complements StaFi’s LSaaS framework, paving the way for enhanced innovation and collaboration.

On November 22nd, StaFi announced an exclusive partnership with CoralApp, featuring a special $FIS #Airdrop for CoralPhone holders. This initiative aims to enhance the value of both ecosystems and strengthen our collaboration.

On November 27th, StaFi joined CoralApp for an AMA session, diving into the topic: “The Intersection of Liquidity and Decentralization: Exploring New Possibilities for Staking Assets.”

AMA Recap: https://x.com/i/spaces/1kvJpbEBookKE/peek

6. International Community Channels

On November 25th, StaFi officially launched International Community Channels on Discord to better support our growing global community.

Join the conversation: https://discord.gg/wgDZPEJZMM

7. Eliza Introduction into StaFi AI

On November 29th, StaFi announced the integration of the groundbreaking Eliza framework into StaFi LSaaS. This innovative addition is set to revolutionize how liquid staking seamlessly incorporates AI, paving the way for a new era of advanced solutions.

December Prospects

1. Ongoing Progress with rLaunchpad Season 3

The rLaunchpad Season 3 initiative is advancing steadily. Currently, several proposals have been submitted within the community, and our tech team is delving deeper into them. The final selection of projects will be completed in December.

2. Exploration in AI Integration

We are embarking on deeper AI exploration, including contributions to and integration of the Eliza Framework. A new AI model will be introduced within the Modular framework, enriching the StaFi AI product portfolio and driving innovation.

3. More LSaaS Adoption

The adoption of LSaaS (Liquid Staking as a Service) is progressing steadily. Following significant interest from events such as SmartCon, Devcon, and the upcoming Taipei Blockchain Week, LSaaS has captured the attention of more developers. Over 10 project teams are currently in discussions with StaFi, and we are optimistic about seeing real-world use cases soon.

4. StaFiHub Migration

The migration of StaFiHub is proceeding in an orderly manner. The rATOM transition has been successfully completed, and other rTokens will soon adopt the LSaaS model. The anticipated explosion in LSaaS adoption is already taking shape.

With these initiatives, December promises to be a month of impactful progress across StaFi’s ecosystem.

About StaFi

StaFi is a leading Liquid Staking infrastructure provider and protocol for PoS chains. Its Liquid Staking as a Service (LSaaS) framework enables developers to create Liquid Staking Tokens (LSTs) and Liquid Re-staking Tokens (LRTs) across ecosystems like ETH, EVM, BTC, CosmWasm, and SOL. By issuing rTokens (e.g., rETH, rMATIC, rBNB), StaFi unlocks the liquidity of staked assets, allowing users to earn staking rewards while retaining the flexibility to engage in DeFi. With support for major blockchains such as Ethereum, Solana, Polygon, BNB Chain, and Cosmos, StaFi bridges liquidity and security in Proof-of-Stake networks.