StaFi
StaFi protocol is the first decentralized protocol unlocking liquidity of Staked assets. The protocol of Stafi is created by Substrate and adopts Nominated Proof-of-Stake (NPoS), which complete staking by setting up staking contracts in the upper layer to communicate with public chains. The Staking process is immune to Stafi’s contracts, for the latter act as the account book during Staking. Tokens staked through contracts will be written in the contracts and finally be locked-up on the original chain.
Stafi protocol starts from the Staking assets and aims at creating a decentralized alternative asset issuance protocol. At the primary stage, it will focus on providing Staking assets without the trust endorsement from a third party. Meanwhile, it will issue alternative products of Stake assets in a cross-chain manner, thus addressing the contradiction between the liquidity and safety of Staking assets. Not matter when it comes to XTZ, ATOM or DOT, DFN that will appear in the future, they will issue rTokens on Stafi protocol as an enhancement to token liquidity. Stafi provides a platform of trading and circulation for projects that demand an even higher liquidity.[1]
StaFi tokens
FIS
FIS is the native token for Stafi Protocol, the initial issuance is 100 million, and there will be further issuance each year ahead. FIS to Stafi is similar to Dot to Polkadot, preventing system abuse and value capture. In Stafi, the specific functions that FIS acts as are as follows:
- Staking
Validators in Stafi consensus need staking FIS to join the consensus network, and the nominator who want to obtain motivation also needs Staking FIS to nominate.
- Tx Fee
In order to avoid system abuse, the initiator of a transaction has to pay FIS to get computing resources. In this way, invalid transactions will be eradicated.
- On-chain governance
FIS holders can participate in the tinkering of Stafi Protocol parameters, vote for Protocol upgrade and determine development courses. Anyone can hand in proposals to the Protocol, but only holders of FIS can vote for or against a proposal, 1 FIS account for 1 ballot.
rToken (reward token)
rToken is a alternative token obtained by staker through staking contract, If you stake XTZ, you can get rXTZ, Staking Atom, users can get rAtom. rToken and Staking Token are in a ratio 1:1. Holding rToken can get incentives from token staked. At the same time, rToken can be traded in the market instead of staked token. After the transaction, staking contract will modify the reward and redemption rights.
StaFiHub
StaFiHub is a parallel chain developed by StaFi based on the Cosmos SDK, to allow IBC tokens to benefit from liquid staking[2][3]