StaFi Q4 Roadmap-Bridge and rSubstrate

StaFi_Protocol
Sep 21, 2020 · 4 min read

It has been an amazing journey thus far for us! Regardless of a lean team, we have rolled out Public Testnet, Incentivized Testnet and Mainnet each successfully, and have completed the first round of StakingDrop Campaign alongside with the exciting BitMax Auction and Listing.

All of our team members have sacrificed their sleep, their family time and their leisure time to make sure StaFi’s progress can outshine even our roadmap! Luckily, we’ve met friends willing to help us and contribute along the way. They are community managers, translators, influencers and validators who joined the Testnet in an early stage. Without them, we could not have reached where we are today.

We are still expanding our development team. We hope that more developers will join us in the StakingDerivative field. It is a quite challenging but interesting job. We have already deployed Staking Contracts for 2 projects, yet we will still spend some time to work on some essential modules to make sure a fully prepared product launch.

At the same time, in order to make rToken an important underlying asset for DeFi, a comprehensive audit must be done before going alive. Security will always be one of our top priorities.

In this article, we will be discussing our currently planned roadmap for Q4, and the entire team will continue to work hard on delivering them to the whole community.

Q4 Roadmap

Given the entire DeFi ecosystem majorly is built on Ethereum, we think it’s necessary to create an ERC20 version of rToken in order to tap into the broader ecosystem. And we will be building a bridge solution to make this happen. The bridge will serve two major purposes: 1) conversion of substrate based rToken into ERC20 rToken; 2) conversion of substrate based FIS into ERC20 FIS. After conversion, FIS and rTokens can be traded on any Ethereum based DEXs, such as Uniswap, Balancer etc. The main groundwork of building a bridge includes:

1. The development of ERC20 bridge.

  • Pallet module development.
  • Bridge logic development.
  • ETH smart contract development & deployment.

2. ETH bridge comprehensive testing, including (testing) function, performance and security, etc., as well as sorting documentation and code.

3. Code audit and bug clearance.

4. Preparation for launch

The Stafi team will be working on 4 major types of rTokens:

  • Substrate-based rToken
  • CosmosSDK-based rToken
  • ERC20-based rToken
  • Other PoS-based rToken

In order to standardize the issuance process for rToken, rFIS will be the first rToken to be rolled out by the end of November. Later, we will begin testing rDot and rKSM. Since DOT and KSM are also based on Substrate, thus we expect the integration process to be a bit faster. This experience will come handy for us when we’ve set the rToken standards for Substrate-based projects. The main development works will include:

  • Development of rFIS function.
  • Comprehensive functional test of rFIS & sorting documentations and codes.
  • rFIS audit and rollout
  • StakingDrop stage2.
  • Completion of the overall design of the integration of Substrate-based projects, & setting the solutions to the key problems of each module.
  • Trial run for all key processes with off chain mechanism.
  • rDOT/rKSM development

A lot of PoS projects have already shown their interests in StakingDerivatives. All of our potential cooperations with PoS projects are focused on the adoption of rToken, including, but not limited to, rToken integration & listings, technical researches. Of course, when rToken becomes an important underlying asset in DeFi, we will need to obtain more support from other DeFi service providers, including Oracle, Dex, Lending, and so on.

In the above areas, Stafi has already been in dialogue with a lot of the teams, we’re looking forward to collaborating with these teams and are excited about the current progress, which we will share with the community when appropriate.

Polkadot’s Parachain is currently being tested and deployed, and the Stafi team will consider participating in the parachain auctions once the opportunities arise.

The Relations between FIS and rToken

The value of FIS will be fundamentally derived from adoption of rTokens. Whenever a new rToken is developed or integrated, FIS captures value, and the StaFi community also grows. Therefore, our key focus is on the development, testing and wider adoption of rToken, which we believe ultimately benefits the whole Stafi community and FIS token holder base.

Join Us

Again, Stafi is a big family and we welcome talented developers to join us and together realize the staking derivative vision.

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

StaFi

StaFi Protocol is the first DeFi protocol unlocking liquidity of staking assets

StaFi

StaFi Protocol is a decentralized protocol which provides the liquidity of the Staking Assets,such as XTZ, ATOM, Algo, etc,. StaFi solves the problem between token liquidity and Mainnet security by issusing a ABT token( Asset-backed token).

StaFi_Protocol

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StaFi_Protocol A Decentralize Protocol to Provide the liquidity of Your Staking Assets

StaFi

StaFi Protocol is a decentralized protocol which provides the liquidity of the Staking Assets,such as XTZ, ATOM, Algo, etc,. StaFi solves the problem between token liquidity and Mainnet security by issusing a ABT token( Asset-backed token).