StaFi Protocol Monthly-August Community Updates
In August, StaFi made significant progress in product update, and successively released new features such as rToken BSC Bridge, Fee Station, rMatic App and Mint Program. In terms of expanding rToken application scenarios and improving rToken liquidity, StaFi and Liqee jointly initiated incentive campaign for rETH, rDOT and rATOM as the first batch of assets in the BSC and Ethereum ecosystem. Besides, StaFi also cooperated with Pancake in rToken liquidity. Generally, we got many achievements in August.
The following are details of the general progress in August.
Technical Update
1.rToken BSC Bridge
On Aug 2, BSC Bridge was integrated into the rToken app, users could easily swap rTokens among Ethereum, StaFi and BSC.
2.Fee Station
On Aug 13, StaFi launched the Fee Station, users can use it to exchange native FIS by swapping native ETH, ATOM, DOT and KSM. This new feature will improve the UI/UX of rToken App.
3.rMATIC
1) On Aug 21, StaFi released the rMATIC infographic, it will help users better understand rMATIC token and rMATIC App.
2) On Aug 25, StaFi released the liquid staking solution rMATIC for staked MATIC on Polygon.
Stakers could enjoy the following benefits:
Efficient Liquidity: rMATIC can be traded on DEX and used as collateral on DeFi protocols.
Maximized Rewards: rMATIC will be automatically delegated to the best validators according to the reward maximization algorithm.
3) On Aug 31, The rMATIC was live on mainnet, users can experience the first MATIC liquid staking of Polygon.
Meanwhile, the StakingDrop campaign with 150,000 USDT FIS is started. Stake MATIC via rMATIC App, users will get the FIS token rewards.
4.StaFi Mainnet Update
On Aug 24, StaFi v0.4.6 released:
1) Add the claim module to support rToken mint campaign.
2) Add functions to support rMATIC/rSOL/rBNB.
3) Add rdex module to support swapping of rToken to Native.
5.Mint Program
On Aug 27, StaFi released Mint Program function on StaFi mainnet. Meanwhile, the incentive programs of minting rETH/rDOT/rATOM was live on rPool App. Users could stake ETH/ DOT/ ATOM to share the FIS reward pool valued at 700,000 USDT. The more you stake, the more FIS you get.
Community Building
1. On Aug 7, the TVL of StaFi rTokens reached $59,089,413.31 USDT, and the total revenue generated by StaFi is around $210K USDT.
2.On Aug 12, StaFi invited Chad, the Co-founder and CEO at Tidal to the StaFi community to talk about the latest development of Tidal and cooperation between Tidal and StaFi.
3.On Aug 13, the contribution in July came out. StaFi warriors made excellent works to help StaFi improve the brand recognition in the community.
4.On Aug 16, StaFi released Validator Eco Building Program to further improve the security and decentralization of the StaFi Chain.
SVEB program welcomes validators to apply and StaFi Foundation will directly nominate the program winners as a grant.
5.On Aug 30, the rDOT and rATOM TVL reached 1.15M and 1.51M $USDT respectively. It’s a great start for StaFi rToken adoption in the Polkadot and Cosmos ecosystem.
6.On Aug 31, the amount of staked ATOM in rATOM App reached 100K.
Collaborations
1.On Aug 3, $388K deposited on Tidal to get cover for StaFi staking contracts (like rETH and rBridge). Users can deposit USDC and farm TIDAL with 74.73% APR.
2.On Aug 4, StaFi’s partner NFTMart announced that they airdropped the NFTs of Chinese Opera Mask Plus to StaFi Community.
3.On Aug 6, StaFi rETH App was integrated into Hyperpay wallet, and StakingDrop was launched on 4PM, August 5, UTC. Anyone who stakes ETH through HyperPay would win FIS as a reward.
4.On Aug 11, StaFi and imToken jointly present the NFT campaign: The Adventurer’s Guide to Crypto World.
Top 11 of participants got:
1)A place in the exhibition
2)Plus up to 2000 NMT in prizes
5.On Aug 18, StaFi formed strategic partnerships with RockX, a professional staking service provider. Both of us will jointly explore reliable validating services for rToken, rToken Apps integrations and liquid staking research.
6.On Aug 24, To explore the potential energy of staking derivatives, like rBNB on BinanceChain, FIS/BUSD pool is listed on PancakeSwap.
7.Cooperation with Liqee
1)On Aug 24, StaFi and Liqee worked 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.
2) Incentive programs of minting rETH/rDOT/rATOM was live on rPool App on 27 Aug, 2021.
Users could stake ETH/ DOT/ ATOM to share the FIS reward pool valued at 700,000 USDT.
8.On Aug 27, StaFi invited Mindao, the Co-founder at dForce and Alex, the Co-founder at Liqee to the StaFi community to talk about the latest development of Liqee and cooperation between Liqee and StaFi.
September Prospects
In August, StaFi updated many important products, including Fee Station (swap for native FIS to pay the gas fee when minting rToken),Mint Program (encourage rToken minting) and rMATIC (MATIC staking derivative). At the same time, we released a mining campaign with Liqee on BSC and Ethereum. Also, we started to add liquidity of rTokens on Pancake. Generally speaking, we got many achievement in August, and the TVL reached over $60M USDT.
September is the last month of Q3, StaFi will continue to explore cooperation and focus on new rToken according to roadmap, including launching new rToken (such as rBNB and rSOL) and new rToken integration, like Quickswap. We are confident that StaFi will deliver more achievements in September.
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
