Highlights of StaFi and Coinswap collaboration
INTRODUCTION
StaFi has synergized with a multiple chain system that was implemented by IRISnet known as Coinswap for the integration of new module token known as rATOM which is a derivatives protocol of ATOM for the primary aim of ensuring seamless transaction for financial assets of users and fluidity providers in the ecosystem. The partnership of their work will ensure the listing of rATOM tokens on Coinswap which will permit the token holders and investors of rATOM to transact trade and stake on the system platform which will also lead to integration of co-incentive farming activities for the benefits of liquidity providers in the ecosystem. It’s a strategic move by the both platform in expanding the integration of rTokens among the community members in the ecosystem.
ABOUT STAFI
Decentralized network system that unlocks the financial resources of staked assets of users is known as StaFi. rtoken can be generated and acquired by users through staking on a POS (Proof of stake) platform system, which is easily available on the system platform for trading or swapping purpose among the community members.
CONCEPT OF COINSWAP
Coinswap is a multi-chain network service that was designed by team of IRISnet, which is the first AMM created protocol in the ecosystem.The system was built in the year 2021 with exciting features to implement multiple coinsthat serves different functions like NFT and oracle system.
BENEFITS OF THEIR COLLABORATION
The partnership of StaFi and Coinswap has yielded some impressive benefits that unlock the following for the users and investors in the ecosystem as follows:
TRADING OF rTOKEN ON COINSWAP SYSTEM
The synergy between staFi and coinswap will ensures the listing of rATOM token on Coinswap platform which will provides access to the users of both platforms to transact and trade seamlessly through staking, which will aid further development both for platform and provides incentive rewards to the token holders.
INCENTIVE REWARDS
The maximum utilization of rtoken through staking on the coinswap will generates reward for users of the platform and also rewards the fluidity providers in the ecosystem through introduction of yield farming activities.
SEAMLESS DISTRIBUTION OF rTOKEN
The integration of rtoken into the system platform through their collaboration will ensure seamless distribution and implementation of the rATOM tokens as a reward for liquidity providers. The minting of rtoken after staking will lead to maximum reward benefits on the Coinswap platform for the community members.
MAXIMUM SECURITY OF POS
The main priority is making sure the stack of user’s assets is safe, therefore IRIS network system ensures the maximum security system to keep users financial resources safe on the system through the design of complex security codes that detect unauthorized network into the system platform in ensuring safety of user’s asset
CONCLUSION
The partnership will implement the integration of security hub system of Coinswap platform for seamless transaction and incentives rewards for both users of the system platform, thereby strength the relationship between both platform in ensuring the growth and development of Blockchain network in the ecosystem.
For more relevant information, visit https://www.stafi.io
Article Written By : Adasofunjo Michael Oluseye
