New to Staking? Stake through StaFi Staking Contract

over 3 years ago (Edited)

Hi reader.
I'd be giving a straightforward introduction to the StaFi staking contract and why StaFi staking contract is the best platform for staking your asset.

I've been penning about StaFi protocol for long, but I inscribed this article to introduce newbies to the staking platform that rewards stakers with high APY.

StaFi is a DeFi project that allows users to stake and earn reward tokens (rToken) in return.
Staking In cryptocurrency gives access to participants to earn extra cryptocurrency by contributing to the network.
They're many different ways to earn additional crypto in blockchain, but staking has unquestionably emerged as the surest way to earn crypto, but the question is which platform does it best? That's why I bring to you StaFi_Protocol.

What is StaFi Protocol
StaFi protocol is a combined abbreviation of Staking Finances and it is the first decentralized protocol that unlocks the liquidity of a staked asset. FIS is the native token on StaFi Chain. FIS is required to provide security to the network by staking, pay for transaction fees on the StaFi chain, and mint & redeem rTokens.

StaFi protocol provides a staking platform that allows users to earn a reward token (rToken) whenever they stake PoS native token, the rToken earned is equivalent in value to the native token . (For example, if a user stakes XYZ token, he receives rXYZ token in return).
The reward token (rToken) is a redeemable token for staked assets issued by StaFi Protocol that can be traded, lent, or borrowed in several venues.

Whenever a user stakes a native token through the relevant staking contract, a certain amount of rToken will be issued per amount of the native tokens staked in the staking contract and the real-time exchange rate for the rToken.

The rToken can be obtained in two ways by

• Staking native token through Stafi’s staking contract and
• Obtaining rToken on uniswap or other exchanges
The rToken has helped to manage staking barriers for users by providing liquidity to staked assets.

The Infographics below give details about rToken.

With rToken, users can now obtain a corresponding amount of rToken when he stakes, and enjoy the flexibility and discretion to redeem the native staked assets any time while still enjoying staking income (no unbounding period).
More importantly, rTokens can be circulated and traded freely, thus allowing rToken holders to hedge against exposure without the need to worry about unlocking periods.
StaFi tackles the following issues for users through rToken services:

There is no need to worry about the liquidity of Staked assets
No long redemption period. Users can redeem staked assets anytime
The StaFi Staking Contract Pool automatically captures Original Validators with the highest rate of return on the chain for Staking, which can optimize users' staking yield.

StaFi has developed six rTokens so far with the view of releasing rBNB and rSOL in the coming month.
Here is the list of the rTokens that have been developed by StaFi
rETH
https://link.medium.com/gw3zjtlOujb
rFIS
https://link.medium.com/bYNtjNgOujb
rDOT
https://link.medium.com/nqVndHlLujb
rKSM
https://link.medium.com/fuihSpELujb
rATOM
https://link.medium.com/8E6TZxJNujb
rMATIC
https://link.medium.com/Y0d6j7QOujb
Get ready, rBNB and rSOL coming….

About StaFi Protocol
Visit
Website: www.stafi.io
rToken App: https://app.stafi.io
Twitter: @Stafi_Protocol
Telegram Chat: https://t.me/stafi_protocol
Telegram Announcements: https://t.me/stafi_ann
Discord: https://discord.com/invite/jB77etn
Forum: https://commonwealth.im/stafi
Defi
Ethereum
Stafi
Blockchain