Airdrop For rToken Stakers
Only recently, StaFi Finance partnered with WrapFi to support the trading of rTokens on the latter’s unique DEX. This collaboration holds a lot of promise for the future of the rTokens.
Outside the WrapFi community, the absence of a native token was quite conspicuous. Not many understood why such a platform lacked a native token fuelling the ecosystem.
Now, the WrapFi Genesis fair launch is happening, and it’s all coming together. The interesting thing about this fair launch is that WrapFi is putting its partners first. Not sure how? Here is all the juicy detail:
The WrapFi Genesis Fair Launch
WrapFi isn’t following the regular routes of fundraising for their operation — IDOs, IFOs and IEOs — in its the Genesis Fair Launch of the WRA token. Instead, a whopping 10% of the entire WRA token will be disbursed to community members of partner projects.
Since StaFi has such a huge stake in WrapFi, it’s no surprise to know rTokens holders will get 7.5% of the 10% allotted to communities of partner projects. That’s a massive 7.5M of WRA just for the StaFi community!
Why Is This A Big Deal?
Yes, WrapFi is organising a Genesis Fair Launch, but they aren’t the first. So why is this such a big deal? Well, there are few reasons.
StaFi’s rTokens will form the bulk of interest-bearing tokens that make it to the WrapFi Genesis Fair Launch plan. That’s such a massive milestone as it gives rtoken holders a seat at a sparsely occupied table. It’s similar to given the StaFi community members a headstart in a highly competitive race.
The Yield Farming Opportunity
Holders of rTokens also get a chance to farm WRA tokens through the WrapFi liquidity mining opportunity. Considering the synthetic derivative nature of rTokens, it’s such a big plus that these interest-bearing tokens can be used to farm WRA. This adds to the use case of the rTokens beyond their role in unlocking liquidity in PoS chains.
Of the 15% WRA allocation set aside for staking, 9% is specifically for StaFi community. 4% of the WRA staking largesse is available to FIS token stakers while the remainder (5%) is open to the rTokens LP stakers.
This WRA yield farming opportunity reinforces the prospects of the rTokens beyond being just receipts of one’s stake in the StaFi staking contract.
The airdrop to rTokens holders requires these synthetic derivatives to be staked in the WrapFi farming pools. This opportunity is open to these holders of rTokens: rFIS, rKSM, rETH, rDOT and rATOM.
DEX Trading Gets You WRA
WrapFi is using this Genesis Fair Launch to incentivize community members of partner projects, which is a good thing. rToken holders that stake their interest-bearing tokens on the WrapFi platform to earn WRA. But they aren’t the only ones with the opportunity to earn WRA.
Just trading rTokens on the WrapFi DEX provides you with the chance to get WRA. Every trade on the unique DEX is a means to earn the WrapFi native token.
However, unlike the staking drop, DEX traders can only earn WRA on the launch of the DEX.
Why Should You Bother With the WRA hunt?
WRA is the native token of the WrapFi ecosystem. Holding the token reduces your trading fees on their interest-bearing tokens (IBT) DEX. Also, you get a chance to be a part of the governance process for the WrapFi platform.
WRA tokens can be staked to get a share of the protocol fees.
Another StaFi partnership pays off for users of the protocol. WRA is , and rTokens holders are at a vantage position to get a fair share of the valuable asset. Community members, get your rTokens ready.
Follow up to date information about StaFi by checking their website: https://m.stafi.io/