StaFi Protocol Monthly -November Community Updates
In the month of November, StaFi has made great progress in all aspects. In terms of technology, StaFi rolled out rETH and rFIS solutions. rBridge has undergone alpha test, open beta, and security audits, and is now preparing for the official release. rFIS has also initiated a two-week incentive test. Our community is growing too, and a lot of newcomers have been attracted by The StaFi “Warriors Program”. There are 40 warriors who have made their valuable contributions in their expertise fields. Also this week, StaFi has reached strategic cooperation with Reef Finance and Injective Protocol.
StaFi’s exciting progress in November is detailed below.
Technical Update
1.rETH Solution
1) On 12th November, StaFi officially released the ETH2.0 Staking liquidity solution. Users can participate in ETH 2.0 Staking through the Staking Contract deployed by StaFi on the Ethereum chain, and the minimum amount to stake is 0.01ETH. The platform will automatically issue rETH tokens to users. These rETH are anchored to the original tokens as well as staking income, and can also be exchanged for ETH on DEX, or be invested in lending through loan contracts.
2) Till now, StaFi has completed 70% of all the development work, including the overall structure of the contract, the user interaction design of validators and stakers. The engineer team is running the test of the basic functions and the development of the front-end UI of users terminals, which is scheduled to be released in mid-December. You can check the latest progress of rETH in the forum: https://commonwealth.im/stafi/proposal/discussion/811-reth-development-progress
2.rFIS Solution
1) On 30th November, StaFi officially issued rFIS, the Staking liquidity solution for the FIS of StaFi mainnet. rFIS is the first rToken realized by StaFi. Through rFIS, StaFi not only solves the liquidity problem for FIS Stakers but also increases revenue for validators’ nodes and increases the overall StaFi staking rate. Details: https://medium.com/stafi/stafi-officially-announces-rfis-liquidity-solution-for-its-native-token-fis-31f2e6b1e4ff
2) The main rFIS product development has been completed, and the open beta version was launched on 2nd December. Meanwhile, StaFi launched test incentive events.
Details: https://medium.com/stafi/stafi-rfis-open-beta-officially-launched-4be5439e6002
3. rBridge
On 13th November, StaFi officially launched the beta version of rBridge for Ethereum, a cross-chain bridge solution, and started a week-long incentive test. We have received a lot of insightful feedback from the community and made optimizations based on them. At the same time, Certick, an independent blockchain audit agency, has also audited the code of rBridge. We are preparing for the full version of rBridge, which will be released soon.
Community Update
1. StaFi Warriors Program
On 2nd November, StaFi officially launched the “Warriors Program”, recruiting those community members who share the same vision with us and are willing to make their contributions to the development of the StaFi community. So far, we have received nearly 200 applications and selected 40 warriors.
2.StaFi MEME
On 11th November, StaFi announced the results of the MEME design competition. There were 79 contestants who created more than 300 works. Finally, 12 winners were selected who shared FIS rewards worth a total of 480$. You can check the competition designs on the StaFi forum:
3.rBidge Bug Bounty
On 13th November, the beta version of rBridge, the cross-chain bridge for Ethereum produced by StaFi, was officially launched. With rBridge, users can convert FIS to ERC 20 FIS in a 1:1 ratio. At the same time, StaFi launched a week-long bug bounty program.
Details:
Beta version of rBridge: https://test-apps.stafi.io/?rpc=wss%3A%2F%2Fstafi-seiya.stafi.io#/accounts
4. The Online Meetup of Warriors
The StaFi team held the first online meeting of warriors on 19th and 25th November for Chinese and English communities respectively. We shared with them the significance of StaFi’s collaboration, development, planning, and of course, the Warriors Program. Team members of StaFi also answered many questions raised by them.
Collaborations
1. FIS Listed on the Exchange
1) On 12th November, FIS, StaFi’s native Token, was officially listed on Huobi, a world-leading exchange, with 3 trading pairs FIS/USDT, FIS/BTC, FIS/ETH supported.
2) On 18th November, FIS was listed on Hotbit Exchange, with 2 trading pairs FIS/USDT, FIS/BTC supported.
3) On 24th November, FIS was listed on Hoo Exchange, with a trading pair FIS/USDT supported.
2.Injective Protocol cooperation
On 16th November, StaFi reached cooperation with crypto DEX Injective Protocol, which is the world’s first Layer 2 derivative. The collaboration will be pushed forward in the following respects:
1) Introduce StaFi’s staking derivatives to Injective DEX, empowering the liquidity of Staking assets;
2) StaFi will unleash additional liquidity for INJ tokens in the future;
3) Further Synergy with Polkadot and Substrate communities.
Details: https://twitter.com/InjectiveLabs/status/1328700052525772801
3.Reef & StaFi
On 23rd November, StaFi and Reef Finance, the DeFi operating system on Polkadot, reached strategic cooperation. In the days to come, Reef users will be able to Stake Reef through StaFi’s Staking Contract, in exchange for rReef, which will be tradable. The original Reef tokens will be locked on the Reef chain.
4.AMA
Liam, the Co-founder of StaFi, attended:
1) Oasis Fireside chat online discussion. Liam, together with Oasis Luca Cosentino, discussed the current problems of staking assets, the solutions given by StaFi, and how private data can be applied to DeFi applications.
Details: https://twitter.com/OasisProtocol/status/1329472353751900160
2) In an interview with “Teahouse”, a blockchain press house, Liam spoke about StaFi’s solution on how to mobilize “sleeping assets” in the crypto-world. He also said that StaFi will not be fixated on the Polkadot ecosystem, but also be applied to Ethereum 2.0. Users will be able to convert FIS of StaFi’s mainnet into ERC 20 FIS in a 1:1 ratio, and then engage in the transaction, lending and other activities in the DeFi world of Ethereum
3) AMA held by Matic. On 25th November, Liam participated in an AMA held by Matic and shared with the Matic community why delagators should Stake the nodes of the StaFi network.
Activities attended by Blank, StaFi’s Chief Researcher:
On 12th November, Liam joined the fourth episode of the Mars video live of Polkadot. The topic was “Early Polkadot Investors: Why are we so optimistic”. On 24th November, he appeared on Mars Financial Live, and spoke about the ETH2.0 liquidity dilemma and StaFi’s rETH solution. On 25th November, Liam participated in an AMA hosted by Hoo English Community and shared the latest StaFi business and product developments with 14,000 community members. On 27th November, Liam was at the “Gloden Theory of Relativity”, an event held by jinse.com, and shared his thoughts on StaFi’s solutions to the liquidity dilemma. Guests from Loopring, OEKx research ECN Chinese Community were also present at the event.
StaFi’s goal in December are listed below：
Technology
Launch rBridge and related liquidity incentive schemes. Complete rFIS Bug Bounty and then submit it to the audit party. List rETH on ETH testnet, start Bug Bounty, and prepare for the audit. Development of rDOT and rKSM, and the 2-way bridge has already started.
Collaboration
Continue to seek partners. When rToken will be converted to the ERC20 standard, the cooperation with projects working in the DeFi space of Ethereum will become very important. We will pursue cooperation with Uniswap, Curve, Aave, and Compound.
Community
StaFi will continue to build the community, attracting more members. We will update and inform our believers in a more streamlined manner through rProduct, and hold online AMA, Fireside Chat, as well as other such events in the following month.
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
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
