StaFi Will Work with Liqee to Launch rToken Lending Products
StaFi and Liqee have teamed up to make their networks and assets more fully compatible with each other. StaFi and Liqee will work together to introduce rTokens, including rETH/rATOM/rDOT, into Liqee’s lending platform, so that these above 3 rTokens could be used as collateral to borrow different native tokens and stable coins.
Liqee is the world’s first decentralized lending market for liquid staking tokens (PoS staking tokens, DeFi staking tokens, etc), powered by dForce’s lending protocol, which was audited by four global top audit firms including Trail of Bits, ConsenSys Diligence, CertiK, Certora.
Liqee will support StaFi’s rToken as the first batch of assets upon launch, allowing users to borrow underlying PoS staking assets (i.e., supply rDOT to borrow DOT) or mint USX (US dollar pegged stablecoin launched by dForce) against rToken supplied to Liqee as collateral. Liqee also provides tokenization for PoS and mining facilities, as well as PoS staking services across a number of networks.
Liqee will go live and kick off its liquidity mining campaign, together with dForce and StaFi, on Ethereum and BSC from 12:00pm UTC, 27 August, 2021.
This partnership unlocks the following features:
rTokens Could Be Used as Collateral on Liqee
With Liqee, the rToken holders could deposit rTokens on Liqee to borrow ETH, ATOM, DOT and USX(stable coin issued by dForce) to gain liquidity without selling on DEX or redemption.
This will greatly expand the liquidity of rTokens, thus improving the adoption of StaFi’s staking derivatives.
Leveraged Liquid Staking is Coming
Since rTokens could be used as collateral on Liqee, rToken holders could use Liqee to amplify their staking rewards by using leveraged liquid staking (LLS) in the future.
For example, if you are a rETH holder, you will earn around 6% APR from the staking rewards of ETH2.0 staking network. If you want to amplify the staking APR, you could deposit your rTokens on Liqee to borrow ETH, then you stake the borrowed ETH into StaFi rETH App to get rETH token, which means your rETH Holdings is leveraged and your staking rewards APY is amplified to be around 10% with the same principle.
Also because the exchange rate of rETH/ETH is always above 1 and will increase gradually, so the liquidation risk barely exists with the only 70% Liquidation LTV ratio.
Co-incentive Campaign on Liqee
Liqee platform will be launched on 12:00pm UTC, 27 August, 2021, and there will be a great co-incentive yield farming campaign for depositing rTokens and borrowing other tokens( including the native tokens and stable coins) .
If the rToken holders participate in this campaign could get triple rewards which includes the following 3 parts:
- Liqee LQE Token Reward Pool
- StaFi FIS Token Reward Pool
- dForce DF Token Reward Pool
Stay tuned for the details of this big campaign, which will be released very soon.
“Doubled” Rewards
Since rTokens are minted after users staking, users can get “doubled” rewards on Liqee:
- Liquidity farming rewards including the LQE, FIS and DF tokens, when depositing rTokens and borrowing other assets.
- PoS staking rewards generated by holding rTokens.
Providing Brand-new Interest Bearing Asset for Liqee
Liqee could also provide this brand-new interest-bearing assets for its users, and become the first lending protocols that are specialized for staking derivatives, which is a great innovation in the DeFi space.
About Liqee
Liqee is the world’s first decentralized lending market for liquid staking tokens (PoS staking tokens, DeFi staking tokens, etc) and is powered by dForce’s lending protocol, which was audited by four global top audit firms including Trail of Bits, ConsenSys Diligence, CertiK, Certora. We strive for becoming the largest lending protocol for liquid staking tokens and unified portal for liquid staking markets. Liqee also provides tokenization for PoS and mining facilities, as well as PoS staking services across a number of networks.
Website | Forum | Twitter | Telegram | Medium
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
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
