StaFi is a decentralized protocol providing liquidity for Staking assets through rToken, increasing liquidity while ensuring network safety.
Built on the Polkadot Substrate platform, StaFi is a prominent Liquid Staking Derivatives (LSD) project known for its ability to create Tokens that replace Staking assets and support various PoS Tokens such as XTZ, ATOM, DOT.
MAIN CONTENT
StaFi issues rToken representing Staking assets, increasing liquidity and application.
FIS Token is a utility Token on the Polkadot network with various utilities such as staking, transaction fees, and governance.
The project has growth potential in the LSD trend, supported by an experienced team and many major investors.
What is StaFi?
StaFi is a decentralized protocol that allows users to stake PoS Tokens such as XTZ, ATOM, DOT and receive replacement Tokens called rToken, enabling the transformation of Staking assets into tradable forms. This addresses the liquidity issue for assets locked in staking while maintaining network security.
The application of Blockchain technology from Polkadot Substrate provides a stable and scalable foundation, supporting multi-chain and multi-application for StaFi.
What are the highlights of StaFi (FIS)?
StaFi is built on Polkadot with technical advantages from Substrate, allowing for rapid development and flexible scaling. A notable advantage of StaFi is issuing rToken at a 1:1 ratio to the original Token, allowing users to earn staking yield while being able to trade.
StaFi ranks among the top LSD projects with over 16,854 ETH currently staked as of early 2024, demonstrating the attractiveness of the ecosystem.
rToken supports yield generation, trading, and integration with other protocols.
Can be used as collateral for loans or deposits in other DeFi platforms.
Supports withdrawing Tokens at any time, increasing flexibility for users.
Fungible feature allows holding small amounts of Tokens.
StaFi provides liquidity solutions for staking while opening up many new applications for assets locked in staking, contributing to the further development of the DeFi ecosystem.
Young Liam, Founder of StaFi, 2023
How does StaFi operate?
StaFi operates on three layers: Bottom Layer built on Substrate, Contract Layer providing diverse staking contracts for PoS Tokens, and Application Layer developing APIs for third-party applications, creating a decentralized trading market for rToken.
This structure helps StaFi maintain security, scalability, and diversify services provided to users and developers.
What is the overview of the Stafi Token (FIS)?
Token Data
Token Name: FIS
Token Standard: POLKADOT
Contract: 0xef3a930e1ffffacd2fc13434ac81bd278b0ecc8d
Token Type: Utility
Total Supply: 114,082,560 FIS
Circulating Supply: 56,340,000 FIS
Token Allocation
FIS is distributed reasonably to support community development, the team, and the ecosystem:
40% community rewards
21.4% foundation fund
15% development team
6.1% private sale round
6% advisor
5.7% seed round
5% ecosystem growth
0.8% public IEO
Token distribution schedule
FIS is unlocked according to a specific roadmap to control supply and ensure sustainable growth:
Community Rewards: 10% unlocked in the first month, the remainder used for staking rewards
Foundation: 10% unlocked after 6 months, the remainder unlocked daily over 12 months
Team: 10% unlocked after 9 months, the remainder unlocked daily over 9 months
Private Round: 25% unlocked upon listing, the remainder gradually unlocked after the first month over 8 months
Advisor: 10% unlocked after 3 months, the remainder unlocked daily after the first month over 6 months
Seed Round: similar unlocking method as private round
Ecosystem Growth: 40% unlocked upon listing, the remainder used as incentives
Public IEO: no Token lock-up
FIS Token utilities
FIS plays a central role in the StaFi ecosystem with diverse functions:
Staking to become a Validator and nominator on the StaFi network
Pay transaction fees, eliminate spam transactions
Project management through FIS Holder voting rights
How to store and trade FIS Token?
FIS Token can be stored on the official Polkadot Wallet or directly on major exchanges to increase convenience and security.
Many reputable exchanges like Binance, Coinbase, Gate, Huobi, Bitget support FIS trading, enhancing liquidity and accessibility.
What is StaFi's implementation roadmap?
The StaFi team announced clear goals in Q1 2023, focusing on application improvements, increasing liquidity for rToken, and developing the decentralized autonomous organization StaFiDAO.
StaFi will prioritize rebuilding the rToken application, developing a Liquidity program, and launching StaFiDAO in Q1 2023.
StaFi Protocol, Twitter, 29/12/2022
Who is in the StaFi development team?
The founding team has extensive experience in the blockchain and traditional internet fields, notable for:
Young Liam (Founder) - author of 'Mastering Proof of Stake', founder of the mining pool and Wetez wallet.
Tore Zhang (Co-Founder) - experienced software engineer at Alibaba, proficient in blockchains such as Ethereum, Tezos, Cosmos, and Polkadot.
Who are StaFi's investors and partners?
The project has successfully raised funds through 4 fundraising rounds, totaling $1.48 million with detailed rounds:
Seed Round: $371,000
Private Round 1: $200,000
Private Round 2: $309,000
Strategic Round: $600,000
Frequently asked questions
On which network is StaFi's FIS Token?
FIS Token is deployed on the Polkadot network with smart contract: 0xef3a930e1ffffacd2fc13434ac81bd278b0ecc8d.
How is StaFi's current roadmap?
The project has announced a development plan until the end of Q1 2023, focusing on upgrading the application and increasing liquidity for rToken.
Does StaFi belong to the Liquid Staking Derivatives (LSD) trend?
StaFi is a typical project in the LSD field with over 16,854 ETH staked in the pool, ranking among the top LSD projects currently.
What are the similar projects to StaFi?
Some projects in the same industry as StaFi include Rocket Pool (RPL), Stader, Lido, and Tranchess.
What is the potential of the StaFi project?
With a Market Cap of approximately $38.2 million at the beginning of 2024, StaFi has growth potential thanks to the LSD trend and the upcoming Ethereum Shanghai event, which is expected to boost similar projects.
Source: https://tintucbitcoin.com/stafi-fis-la-gi/
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