rFIS Liquidity Solution for StaFi’s FIS
Staking is the new cool, it has started its takeover from mining. PoS is taking more precedence over PoW as it is faster, secured and efficient.
One thing that has always bothered stakers is the fact that their token, when staked, can not be used to trade. It will remain there for the period of time that it has been staked.
Especially the ETH 2.0 Staking, no one knows exactly when their 32 ETH will be available for withdrawal. Problem like this is what StaFi protocol happens to be providing solutions for.
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.
It is to be noted that FIS is the native token on StaFi Chain. FIS's utility on the chain is to provide security to the network by staking, pay for transaction fees on the StaFi chain, and mint & redeem rTokens.
Enthusiasts are glad when StaFi officially announced rFIS Liquidity solution for FIS which is its native token.
rFIS is a Staking asset redemption certificate issued by StaFi to users. When a user Stakes FIS (the native token of StaFi), StaFi will calculate the amount of rFIS to be obtained by the user based on the current exchange rate between FIS and rFIS. When a user holds rFIS, StaFi will calculate the amount of FIS that can be redeemed based on the Staking income of FIS.
StaFi has made things easier for FIS stakers through the introduction of rFIS:
- Stakers need not to worry about the liquidity of the FIS tokens that are Staked, as rFIS can be traded on Uniswap any time to obtain liquidity in the future.
- The StaFi Staking Contract Pool optimize the users' Staking yield by automatically capturing original validators with the highest ROI on the chain for staking.
- FIS stakers can conduct FIS Staking with just one-click.
Who are Original Validators?
The Original Validators are the ones who join the FIS Staking Contract plan.
Using the FIS token deposited by the user, the StaFi Staking contract will nominate each OV(Original Validators) who joins the OV plan according to the nomination rules.
The OV in the rFIS solution needs to first run the nodes of the StaFi mainnet, and then register through StaFi’s OV registration tool. At the same time, StaFi will establish an intelligent scoring system to quantitatively score the performance of each OV who joins the rFIS Staking Contract. High-ranking nodes will first become the official OV.
StaFi Protocol plans to launch the Original Validators (OV) program in the business structure of rFIS, we will launch the Original Validators (OV) program.
Income Distribution Plan
It is important to make the income distribution plan open, and StaFi did just that:
1) 70% will be given back to FIS token holders, in the form of buyback or token burning.
2) 20% will be deposited in the StaFi Treasury to support the further development and market promotion of the StaFi ecosystem.
3) 10% will be allocated to the StaFi team.
To learn more about the first Staking derivative of StaFi : https://medium.com/stafi/stafi-officially-announces-rfis-liquidity-solution-for-its-native-token-fis-31f2e6b1e4ff
Official StaFi Protocol links:
Telegram Chat: https://t.me/stafi_protocol
Telegram Announcements: https://t.me/stafi_ann