StaFi (short for Staking Finance) is the First DeFi Protocol Unlocking Liquidity of Staked Assets
StaFi protocol is the first decentralized protocol unlocking liquidity of Staked assets. StaFi aims to solve the contradiction between Mainnet security and token liquidity in PoS consensus. The token holders are staking through staking contracts built in StaFi protocol, and then get alternative tokens(rToken ,such as rXTZ, rAtom, rDot, etc.), rTokens are tradable and it can get staking rewards from original chain at the same time.
StaFi is a combined abbreviation of Staking+Finance. It is a decentralized protocol built with the Substrate. The contract layer is composed of multiple staking contracts, and the application layer is mainly trading platform of rTokens.
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
Staking Derivatives of staked asset
rToken is short for reward-Token. When users stake PoS tokens through StaFi, they will receive an equal amount of rToken in return. For example, rAtom represents staked Atom, while rXTZ represents staked XTZ. rToken allows users to receive staking rewards and access liquidity any time by trading rTokens directly. Users also have the right to redeem the corresponding amount of staked tokens at any time.
rToken is a redeemable token for the staked assets issued by StaFi protocol that can be traded, lent, or borrowed in a variety of venues. Whenever a user stakes a native token through the relevant Staking Contract, a certain amount of rTokens will be issued per amount of the native tokens staked in the Staking Contract and the real-time exchange rate for the rToken. The exchange rate for the rToken will gradually increase, as staking rewards for that native token accumulate, and so will the amount of native tokens that can be redeemed.
FIS
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, mint & redeem rTokens.
You can stake your PoS tokens through Staking Contracts built by StaFi. All you have to do is use the tools to stake your PoS tokens, and you’ll receive rToken in return which can be exchanged and traded on DEXes and CEXes in the near future, as well as integrated in other DeFi protocols.
rToken is planned to be listed on both DEXes and CEXes. DOT, for example: trading pairs like rDOT/DOT and rDOT/USDT would be enabled to bring liquidity to stakers.