StaFi rFIS Original Validator Recruitment Campaign
rFIS is Coming
StaFi has released rFIS product, which unlocks the liquidity of StaFi’s mainnet token FIS and helps FIS stakers enjoy liquidity in decentralized exchanges or lending protocols without waiting for the 14-day unbonding period. The full solution introduction could be checked in the rFIS Whitepaper.
In the rFIS product, the deposited FIS tokens of rFIS staking contract will be automatically nominated to a batch of Original Validators (OV) in accordance with the nomination strategy on chain. Therefore rFIS products require a large number of validators to join the OV program.
In a few days, rFIS product will be officially released. All PoS nodes are welcome to join the OV program of StaFi rFIS. If you have any questions about this program, you’re welcome to join the rFIS OV telegram group for communication:rFIS OV telegram group:https://t.me/stafi_testnet .
OV Introduction
In the business structure of rFIS, we will launch the Original Validators (OV) program. The Original Validators are the ones who have joined the FIS Staking Contract plan. Using the FIS token deposited by the user, the StaFi Staking contract will nominate each OV who joins the OV plan according to the nomination rules.
OV Nomination Rules
Since StaFi adopts NPoS consensus, the staking income obtained by each elected node is relatively equal without any correlation with the number of Staked FIS. In addition, the nominators (stakers) of the elected nodes will share the proceeds of Staking by the proportion of votes. That means if one elected node has more Staked FIS than another, stakers will enjoy higher RoR if they choose to Stake the later.
Therefore, the rFIS Staking Contract will automatically execute the following nomination strategy:
1) Nominations are executed in every Era(6H).
2) OVs are selected whose commission is set less than or equal to R, which will be set at 10% in the beginning.
3)Nominations of the picked OVs are sorted from low to high, and the first number N OVs are chosen to nominate (number N will set at 10 in the beginning).
Note: Both R and N are governance parameters and will be slightly adjusted according to the market situation and product development.
How to be a rFIS OV
Only three steps to join in rFIS OV program：
1）Run a validator on StaFi main-net.
2) Set an on-chain identity.
3）Simply One-click of the Apply Button on rFIS validator dashboard.
For more details on how to onboard, please check the Guide.
Why Should You Join
There are 2 main reasons why you should consider joining in rFIS Original Validator Program:
1) You could win around 10% staking commission rewards. Becoming OV in rFIS could give you the chance to win up to 10% commission of the staking rewards from the nominations of rFIS staking contract.
2) No need to pay costs to attract nominations any more. If you want to be the official validators on StaFi mainnet now, you have to pay considerable costs for your validator campaign to attract stalkers’ nominations, but now with rFIS solution, you could just follow the above 2 steps to be an OV and win nominations from rFIS staking contract. This will be a great opportunity for the new validators or validators in the waiting list.
Special Notes
In order to avoid the situation where the official validators on StaFi mainnet now are crowded out because of the OVs emerging from new validators or waiting validators, StaFi will expand the total number of official validators by adding 10 to 30 more official validator seats. The specific expansion number of the official validators will be adjusted according to the number of rFIS OV.
StaFi rToken will keep a permissionless network both for stakers and validators, so there is no limit that the official validators on StaFi mainnet could not join in to be an OV. We do not suggest that the official validators join in from the financial side, because this will make them earn less rewards due to the new nominations from rFIS staking contract according to the NPoS consensus.
References
1）rFIS Solution: https://docs.stafi.io/rtoken-app/rfis-solution
2）rFIS Audit Report: https://github.com/stafiprotocol/stafi-bootstrap/blob/master/audits/rfis/peckshield-audit-report-stafi-node-v1.0.pdf
3）rFIS Product (Testnet): https://test-rtoken.stafi.io/rfis
4）Staker Testing Guide(Testnet): https://docs.stafi.io/rproduct/rfis-solution/rfis-testing-guide
5）OV Testing Guide (Testnet): https://docs.stafi.io/rproduct/rfis-solution/validator-testing-guide
6）OV Q&A: https://docs.stafi.io/rtoken-app/rfis-solution/original-validator-faq
7）rFIS OV Telegram Group：https://t.me/stafi_testnet
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
