rETH is now Live on Mainnet.
Staking on Ethereum network has taken a great turn with StaFi Protocol, especially with $rETH finally live on Mainnet after successfully passing testing.
rETH is StaFi's staking liquidity solution for Ethereum 2.0, and now it is live on Mainnet. The plain truth is that ETH staking is not easy as it comes with notable barriers, and the one is the fact that it is capital intensive (requires 32 ETH to participate).
The locking of the 32 ETH poses a huge liquidity risk for stakers and validators as the staked tokens can not be transferred, unstaked or even redeemed until the completion of the phase 1 of Ethereum 2.0 which no one knows when exactly.
Liquidity when used in cryptocurrencies related matter refers to the ability of an asset/coin to be easily converted to fiat(local currency) or other coins without having to affect the market price.
From this definition, it is obvious that once the 32ETH is staked, it will not be available to trade against USDT or anything other coin.
With StaFi's rETH, there is a solution for the liquidity problem of Ethereum 2.0 as stakers get to receive minted rETH tokens which is staking derivative of ETH2. rETH simply means reward-ETHEREUM, built in line with StaFi Protocol's rToken.
For more information about rToken, read the whitepaper:
https://medium.com/stafi/stafi-rtoken-whitepaper-officially-released-ef77747345a0
What to know about rETH
Those willing to participate in the ETH staking can stake via a stake-contract, and then get the rETH to trade and exchange as soon as the staker wishes without having to wait for the launch of phase 2.
The rETH also has 3 features:
Tradable, Redeemable and Contratable.
- Tradable:
The rETH minted by StaFi Protocol can be traded immediately, which also removes the risk of price fluctuation.
- Redeemable:
There is adequate system security from StaFi Protocol as only the holder of the rETH can be able to redeem the staked ETH in the Ethereum network.
- Contractable
Each stakers has a unique staking contract that connects directly to the original blockchain, making their staked ETH secure and redeemable only by the rETH holders.
Conclusion
It is to be noted that the minimum staking amount will be 0.01 ETH instead of the 32 ETH, making staking easier and accessible to interested participants.
To know more about rETH, read the whitepaper:
https://docs.stafi.io/rproduct/reth-solution
You can join the community and learn more about StaFi Protocol:
Website: www.stafi.io
Twitter: https://twitter.com/@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
