StaFi Q1 Roadmap- Launch and Integration of rToken
Doing a little bit of soul-searching at the start of the new year in terms of the Roadmap of the last quarter, we have realized that we have completed most of the work in the plan. However, we failed to launch rFIS and rDOT as mentioned in the roadmap. The main reasons are:
- Didn’t expect that audit would take so much time
- Didn’t make a sophisticated plan for the launch of ETH2.0
- Not enough manpower in our team
There were also chain reactions. We didn’t make a good preparation for ETH2.0, which caused the development to fall behind our schedule. Moreover, the launch of the product waited for the audit to be complete for a long period of time. Our lack of engineering talents postponed the liquidity incentive plan. However, rETH and rFIS are being audited, and we are developing rDOT/rKSM. At the same time, 2-way Bridge has been accessible on the testnet. Generally speaking, the team has completed the development of key projects.
Fortunately, we’ve met a lot of like-minded developers who are interested in StakingDerivatives during Q4. Many of them expressed a willingness to participate in the future of StaFi, and we also selected 2 developers who would be joining the Core Team. Some others who didn’t join us have become open contributors to StaFi, which greatly strengthened the development capabilities of StaFi.
As for the Roadmap of the Q1 of 2021, we will focus on the launch of several rToken products and the integration of rToken into multiple ecosystems. The audit of rETH and rFIS will be completed by mid-January. We are currently working on the design of Mint incentive scheme and Uniswap liquidity incentives Program. The development of rDOT is more complicated than we had expected before. Due to the complexity of the cross-chain and NPoS consensus, we will do more research. In addition, integrating rToken into different ecosystems, such as Ethereum, BSC/Heco, Solona, etc., will also be StaFi’s key work. Meanwhile, there will be important marketing work in Q1 for us to complete.
The details of Q1 are as follows:
1.rToken development
Including rETH, rFIS, rDOT/rKSM, rXTZ/rATOM, etc.
Among them, rETH and rFIS are already under audit; rDOT/rKSM is under development, and rXTZ/rATOM will be started in Q1. In addition, we have discussed the possibility of developing StakingDerivative with many PoS public chains including Solana, Near, Avalanche, Nuls, CapserLab, Cartesi, etc. We will gradually support rSOL, rNEAR, rAVA and other rTokens in a phased manner, making the ecosystem of rToken more flourishing.
2.rBridge development
Including two-way bridge, rToken bridge, BSC bridge, SOL bridge, etc.
Bridge is the infrastructure through which rTokens enter different ecosystems. The current development of different ecosystems is obvious to all. Of course, the bridge between rToken and Ethereum is our main focus. At present, we have completed the development of the two-way bridge linking Substrate and Ethereum. After that, we will soon support rToken Swap. We believe that integrating rToken with BSC and Solana will be an interesting attempt.
In addition, other ecosystems, such as Polkadot, Near, and the newborn Heco, have a demand for interest-bearing assets, which greatly facilitates our development for they are compatible with EVM. We seek to put different ecosystems all together with rToken through rBridge.
3.StakingDrop development
Including rToken Mint incentives, Dex liquidity incentives
Mint will increase the number of rTokens, and liquidity incentives will encourage the use of rTokens, which are both important for the StaFi ecosystem. We are actively exploring the possibility of listing rTokens on Cex, besides Dex. If the liquidity of rToken is drastically improved, multiple application scenarios will emerge one after another.
4.Integrations
When the transaction of rToken has become a routine, we will explore the finance aspect of it. As a new interest-bearing asset, its presence in DeFi protocol will become a game-changer. Projects including Unilend, Easyfi, Dforce, etc., have expressed a great interest in Staking Derivative, and we will probably reach a partnership with them in the future. At the same time, integrating rToken into existing mainstream DeFi protocols, such as Curve, Compound and Aave, etc., will also be our focus. We have also discussed with many teams in terms of rToken Index, rToken StableCoin, and other possibilities. We believe there will be interesting attempts.
In the Polkadot ecology, we will further study the use of Polkadot Parachain/Parahread, and provide a liquidity solution for Parachain Slot Deposit for the projects built on the basis of Substrate. Speaking on this, we have discussed cooperation with projects like Plasm, Chainx, and Equilibrium.
Lastly, the operation of rToken will never be possible without a number of OV (Original Validator) and SSV (StaFi Special Validator). For better decentralization and a higher degree of security, we will launch a recruitment plan in the future, and welcome more excellent validators to join StaFi.
Conclusion
Based on the experience of Q4 of 2020, we are still facing many challenges and uncertainties, and we must take things as they come in the new year. Since StaFi launched on September 7, 2020, the half-year-old project has already embarked on the operation of products. The performance of our projects and user experience will determine the growth of StaFi, and we will keep toiling till we suceed.
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
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Forum：https://commonwealth.im/stafi
