RSol — A Highly beneficial Staking Medium Which is Live On StaFi’s mainnet
Welcome Everyone, Today we’ll be looking into the details and features surrounding the launch and operations of r- Sol and it’s applications launched By StaFi platform for Solana operators. But first a little insight on StaFi’s network is necessary.
STAFI’s network is a Decentralized ecosystem that mainly focuses on unlocking an asset’s staked liquidity. Due to the network’s full integration of PoS tokens, every user associated with them can stake and gain r- Tokens. These aforementioned r- tokens are ready for exchange purposes while gaining staking- rewards. Stafi’s network has recently announced the release of the r- SOL solution which is now live on their mainnet, the solution is simply placed to avert staking- liquidity issues for Solana’s ecosystem users. More information about r- Sol will be discussed over the course of the article.
r- SOL DEFINITION
r- Sol in the ecosystem is known as a community- based Decentralized Finance product made and released by StaFi to avert liquidity issues for staked- SOL on the mainnet of Solana. This product will be issued by the platform “StaFi”, when users stakers their individual Solana coin via the r- SOL application. This application is going avert 2 major issues faced by stakers of SOL:
Through the application, people don’t have to wait for three days before withdrawing their SOL funds. The operators of the application can distribute and exchange r- SOL funds at any point in time to yield liquidity.
Through the application, people don’t have to go through the intricate details concerning tower- BTT (consensus functionality) and so on, in order to generate the stake based rewards. The operators are only provided with a few easy steps to put in their SOL funds into r- SOL’s contract. Once done, an instant validator selection is made. Various stakers on the medium can even reduce their staked- SOL at any point in time, after getting the redemption requests.
HOW TO STAKE SOL ON THE R- SOL MEDIUM
Of course, in order to go through the steps of staking the SOL coins on the medium, operators must have downloaded or installed the Polkadot- JS wallet and the phantom wallet. Before users commence SOL- staking, they must have a few FIS in their StaFi based account in order to charge the relay taxes.
SOL- staking process
Once the users have entered the r- Sol application, they have to put in the Sol amount on the Staker page and select ‘Stake’.
The minted types of r- Sol are shown on (choose mint type) page, the application is compatible with Both Native formats or SPL- formats. The native r- Sol will be utilized on StaFi’s network, while SPL will be utilized for decentralized finance on Solana medium.
The transactions with the handling taxes are shown on the Staking overview section, just select (Continue)
Individuals will sign as prompts and the (liquidity process) by the right will display the staking and Swapping process.
Once done, users can check out the delegation based data in the Status section, where staked- SoL amounts or minted- Sol amounts will be shown along with the r- Sol or SOL exchange rating.
The r- SoL software and functions are now live on the mainnet, meaning that a lot of users, especially Sol operators, can stake their SOLs to be issued with r- SOLs. As stated before, people can also redeem their individual staked- SOLs at any time, making it very convenient. STAFI’s platform as time goes on will continue to incentivize all users associated with their project.
For more relevant information, visit https://www.stafi.io
Article Written By : Adasofunjo Michael Oluseye