STAFI PROTOCOL DEVELOPMENT EXPECTATIONS FOR THE NEW YEAR (ROADMAP Q1 2021)

INTRODUCTION

Since the introduction of blockchain and cryptocurrency in the financial industry, it has become easier for individuals around the world to control, manage their funds and carry out transactions without interruption from any intermediary.

The introduction of decentralized finance is aimed at bringing total financial freedom and curbing the shady practices of centralized institutions who create panic among investors and subscribers by gambling on users for their own selfish gains.

With DeFi, various projects are making their way into the global market to facilitate seamless adoption of this new financial paradigm, proffering innovative products and services and competing fiercely in the global digital market.

THE STAFI PROTOCOL

StaFi is one of the top of the class decentralized finance projects unlocking the liquidity of staking assets, staking in DeFi connotes the act of participating in transaction validation on a PoS blockchain network for a fee in return and StaFi is moving staking to an entirely new level. How so?

Stafi provides a decentralized staking contract where users can stake their tokens and receive an alternative token(rToken) to trade and exchange without necessarily waiting for the locking period to elapse. The rtoken gives a subscriber the right to redeem staking assets, it is utilized in governance and can be exchanged on various supported CEXs and DEXs.

Despite the development falling behind schedule as a result of poor preparations for ETH2.0, the project still has recorded encouraging progress in the development of key projects like the 2 way bridge on testnet, completion of rFis and rEth auditing as well as development of rDot/rKsm. There have been some additions to the team and other open contributors pitching in to help strengthen the network, it is quite safe to say that the future of STAFI is in safe hands.

WHAT PLANS DOES STAFI HAVE FOR Q1 of 2021?

Well, that’s what we are gonna be considering.

1. RTOKEN DEVELOPMENT

This is one of the major focus of the project, some of the rtokens in question are already being subjected to audits, the likes of rETH and RFIS. rDOT/rKSM are in their development stages with rXTZ/rATOM scheduled to start in Q1. The idea is to massively improve the rtokens ecosystem. Furthermore, plans are being put in place for staking derivatives, this reflects on consultation carried out with PoS blockchain networks on the subject including Avalanche, Cartesian, Solana, Near, CasperLab and others.

2. INNOVATIVE TWO WAY BRIDGE.

This is to facilitate rtokens entrance into various ecosystems, the two way bridge which is already nearing completion is designed to connect Etherum and Substrate, with RTOKEN swaps soon to be initiated on the network.

The idea is to unify various platforms with RTOKEN through a bridge, and increase the demand of rToken on Polkadot, Near, Heco as they always look out for assets that will generate maximum returns and strengthen their structures.

3. MINT AND DEX LIQUIDITY INCENTIVES.

Another milestone on the books for STAFI involves minting of, and providing liquidity incentives for the rtokens . While the former will improve the number of the asses in circulation, the later will improve it’s utilization. The team intends to list the rtokens not only on DEXs but also centralized exchanges with encouraging liquidity attached.

4. INCORPORATING AND RECRUITING

Projects like Dforce, Easyfi, Unilend among others which have indicated interest in staking derivatives will be enlisted for partnerships as plans are underway to integrate the rtokens into DeFi protocol, moreso, arrangements are being made to recruit more validators both original and StaFi special validators to improve the security and sustain decentralization in the network.

CONCLUSION

Regardless how much development has been attained in the network, there are still a lot more to be expected. The StaFi team has already hit the ground running as regards to network development and circulation of the rtokens into diverse ecosystems.

The StaFi project is barely a year old and it is quite interesting how relentless the pursuit for excellence has been over the couple of months for the StaFi project, at this pace of operations, StaFi will be overwhelming the entire DeFi ecosystem.

Visit https://www.stafi.io for more relevant information.

Article Written by : Adasofunjo Michael Oluseye

Telegram Username: @Seyeski