StaFi Q4 Roadmap Exploration on a open staking derivative platform

We spent a lot of time and work on the development of the underlying layer in Q3, and because of that, StaFi is capable of rapid scaling now. During Q3, StaFi issued rMATIC, and rBNB (rSOL is ready to be launched, we are preparing marketing resources), and launched mining campaigns jointly with Liqee and dForce. As of September 24, the three new rTokens have brought StaFi over $10M of Staked Value (also known as StaFi TVL). As a result, the peak TVL reached $75M with the pre-existing rETH, rATOM, rDOT, rFIS and rKSM.

In Q4, we will continue to develop new rTokens. As people are deepening their understanding of staking derivatives, we believe that StaFi will be more widely adopted gradually. The current projects built on CosmosSDK or Substrate will be able to leverage StaFi Open Platform in the future to realize the cooperative development of rToken, which will also greatly speed up the development of rToken and allow more developers to work on Staking Derivatives together. StaFi Open Platform will also be a major development work in Q4 and even the next half year.

In addition, we have gained some experience during rToken explorations and integration cooperations. These experiences are not necessarily decisive, but are instructive for the next period of time. We will continue to create user scenarios for rToken, not only through DEX liquidity, but also through other DeFi protocols to provide new liquidity. We are interested in creating more scenarios for rToken, and we are also interested in providing funding and technical support for some protocols for the development of new scenarios for rToken.

Of course, not everything went smoothly in Q3. We are reflecting on the problems faced by StaFi Core in the last quarter, including the development friendliness of Staking Derivative in different chains, the community’s demand for PR, the difficulty of rToken adoption bootstrap, etc., Some problems may not be solved immediately, but will be tackled in time.

We again divide the work in Q4 into the following parts:

New rTokens

StaFi has already launched 7 rTokens. Based on the current experience, it is not a good idea to release more rTokens instead of expanding the released rTokens.. StaFi Core Team will continue to explore some new public chain projects, such as Avalanche, Near and Fantom, but we are not sure whether they will be launched in Q4. On the other hand, exploring new projects will help StaFi to have new ideas on the Staking Derivative.

More importantly, we will continue to promote the adoption of existing rToken, launching incentive campaigns together with partners, stimulating the application of rTokens, and educating more users on the value proposition of rToken. We will make effective use of community funds and launch more incentive plans in a reasonable and appropriate manner. For example, the $1M rETH incentive plan launched on Curve and the $1M rToken incentive plan launched on Liqee.

Open Platform

The original intention of establishing StaFi is to build an open, efficient staking derivative platform so that more developers and projects can develop their own liquid staking solution through StaFi. With the continuous accumulation of development experience of StaFi Core on rToken, we feel it is time to open the StaFi protocol to the community now.

Of course, developing rToken on the team own and developing an open Staking Derivative protocol is not of the same difficulty, because community developers are not as familiar with the StaFi rToken as the core team. StaFi Core Team has a lot of documents and SDKs work to do to create a more friendly and open development environment, and this really excites us. We will update the latest progress of our development constantly.

New Scenarios

Liquidity is still a problem that StaFi will continue to solve. Before StaFi rToken App can be responsible for its own profits and losses, StaFi will still use Community Funds to support rToken’s Adoption, and will gradually shift from foundation decision-making to community DAO. In our experience, in addition to using DEX to solve liquidity problems, Lending Protocol is also a very effective method. This new liquidity method is of more Capital Efficiency than DEX in some scenarios. At the same time, we are still studying the way of discounting to exchange for liquidity, which should be launched in a future product update.

There are more attractive scenarios for rTokens such as Index products based on rToken, leveraged staking, yield farming, etc., which can bring more fun scenarios to rToken. In Q4, we will update our thinking on that in the community.

Please note that we have not emphasized the scenario problem of FIS itself. You can read our FIS Tokenomic paper, which explains the value capture scenarios of FIS. All rToken Adoptions can achieve value capture of FIS tokens and improve the valuations to FIS holders through the Buyback-Burn mechanism.

In conclusion, there’s no doubt that rToken’s cooperation will be more inclined to expand the adoption. All work will be carried out around Adoption, whether it is Marketing or Development. We will update detailed information with the community in a monthly manner. At the same time, we also hope that the community can give us suggestions and help StaFi become better.

About StaFi

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. rToken is a synthetic staking derivative issued by StaFi to users when users stake PoS tokens through StaFi rToken App (https://app.stafi.io). rTokens are anchored to the PoS tokens staked by users and the corresponding staking rewards. rTokens can be transferred and traded at any time.

Website: www.stafi.io
rToken App: https://app.stafi.io
Twitter: @Stafi_Protocol
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