StaFi Released rSwap APP on Mainnet
Overview
Hi community, StaFi just released the rSwap App on mainnet to help rToken holders to do the quick-swaps for native tokens by selling rTokens in an Exchange Rate Discount (ERD).
rSwap will support rATOM first, and now the exchange rate discount parameter is set at 90% according to the community polls both for rTokens holders and financial providers. Check the pools on the DAO forum.
In the near future, rSwap will support other rTokens like rBNB, rETH,etc..
What’s rSwap
rSwap is an Exchange-Rate Discounting (ERD) solution which serves as a supplementary way to solve the liquidity problem for rToken quick-swaps. rSwap enables rToken holders to get native tokens immediately with a discount on the rToken/Native Token on-chain exchange rate like traditional discounts on bills.
Actually, StaFi core team already posted the ERD Solution Paper on DAO forum last week, and received lots of great feedback from the community.
If you are interested in the details of the ERD solution, pls check ERD Solution Paper and its Technical Paper on StaFi DAO forum.
Qucik Guide
Step1: Enter the amount of rATOM that will be swapped into ATOM.
Step2: Enter the Keplr address which will receive native ATOM.
Step3: Sign the transactions.
Step4: Check Keplr wallet after the transaction is done.
Check the guide: https://docs.stafi.io/rtoken-app/rswap-v1-erd-solution/staker-guide
Financial Provider Application
rSwap needs the financial providers to deposit native tokens as the liquidity for rToken sellers. By providing liquidity, financial providers could earn profits, which is roughly 10% on native tokens.
So if you are interested in becoming a financial provider for rSwap, welcome to send your proposal to liam@stafi.io or contact in our telegram: https://t.me/stafi_protocol
Future Work
rSwap is not the end, instead it is just the beginning. The StaFi core team will upgrade the rSwap V2 version to support a AMM-backed DEX for rTokens.
In rSwap V2, it will be greatly different from the ERD solution now. rSwap V2 will be just a Uniswap-like DEX for rTokens, and could support the trading pairs of rToken/FIS. With rSwap V2, rTokens could be directly traded against FIS tokens on the StaFi chain at any time with friendly liquidity, without cross-chain bridging to DEXes on other chains any more.
References
1.ERD Solution Paper: https://docs.stafi.io/rtoken-app/rswap-v1-erd-solution
2.rSwap Portal: https://app.stafi.io/rSwap
3.rSwap Guide: https://docs.stafi.io/rtoken-app/rswap-v1-erd-solution/staker-guide
4.rSwap FAQ: https://docs.stafi.io/rtoken-app/rswap-v1-erd-solution/faq
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 . rTokens are anchored to the PoS tokens staked by users and the corresponding staking rewards. rTokens can be transferred and traded at any time.
