StaFi Supports rSEI on Sei V2
As the pioneering Liquid Staking Token (LST) in the Sei ecosystem based on the Sei EVM, we’re thrilled to announce the launch of rSEI on Sei mainnet, aligning with the Sei v2 launch.
As mentioned before, rSEI’s development utilizes the EVM LSD Stack within StaFi’s LSaaS platform. Its mainnet release showcases one of the prominent use cases of LSaaS in StaFi’s efforts to solidify its position as the LSD Infra Layer.
Functionality
- Stake SEI
- Unstake rSEI
- Track Rewards
The rSEI App enables users to stake SEI and receive rSEI in return. These rSEI are tradable while still earning staking rewards. rSEI is anchored to the staked SEI and the corresponding staking rewards and can be transferred and traded at any time.
Please note that the unstaking functionality will not be available initially for the security and stability of SEI staking. It is expected to become available around 2024 Q4, or a similar timeframe. In the meantime, we will actively collaborate with the DeFi Protocol in the Sei ecosystem to enhance the reach and utility of rSEI.
In terms of the incentive campaign for rSEI, StaFi has introduced a range of incentive strategies for the pre-launch to boost its adoption. Taking into account factors like TVL and development expenses, 4 executable incentive methods have been devised for rSEI Mint Drop and rSEI liquidity. As the week-long vote for those methods has just concluded, and the incentive campaign will gradually kick off once the deployment is finished.
Reference
- rSEI App: https://app.stafi.io/gallery/evm/SEI/?net=SEI
- Guide: https://docs.stafi.io/stakingsei
- LSaaS App : https://stack-app.stafi.io/
- More about StaFi LSaaS: https://mirror.xyz/0xBABf7e6b5bcE0BD749FD3C527374bEf8919cC7A9/LcdMXKYoAddQEdAVBzpiVg2sLuUcQS2UaAiFltRZuNg
About Sei Network
Sei is the fastest Layer1 that combines the advantages of Ethereum and Solana: the dominant development standard of Ethereum with the performance of Solana. The V2 update for Sei makes it the first parallelized EVM. Serving as a new scaling approach for the Ethereum ecosystem while achieving even faster speeds than Solana. Sei launched its mainnet in 2022 and has a growing ecosystem with key teams from Ethereum, Solana, Polygon, Arbitrum, and others deploying. The team is backed by Multicoin Capital, Jump Crypto, Coinbase Ventures, Circle Ventures and many more.
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About StaFi 2.0
StaFi 2.0 will be a major upgrade and rebrand. In terms of positioning, StaFi will transform from a multi-chain LSD protocol to an LSD Infra Layer, and the brand will also be upgraded accordingly. In terms of tokenomics, FIS will introduce a burn mechanism and add new utilities. In terms of security, on top of the existing chain security, it will support contract layer security, including support and frameworks for multiple VMs such as EVM and WASM.
Read more about StaFi 2.0.
