More Integrations For StaFi Protocol’s rToken

Since the launch of its staking contract, StaFi Protocol has been working behind the scenes; the release of several rTokens confirms that.

The DeFi protocol has partnered with multiple decentralized exchanges to viable marketplaces for its legion of rTokens. Holders of these interest-bearing tokens will have access to needed liquidity to trade these tokens. Interestingly, StaFi has not only collaborated with DEXs, but the liquid staking service provider also partnered with other DeFi projects as well.

At the moment, some of these partnerships have yielded fruits. The trading of rTokens in the open market and the greater utility for rTokens is all the proof you need.

Latest rToken Integrations

StaFi Protocol recently partnered with Sifchain, a cross-chain DEX on the Cosmos chain. This collaboration ushered in the listing of rATOM, the synthetic staking derivative for the ATOM, on Sifchain.

At the moment, the rATOM/ROWAN trading pair is available on Sifchain. This means you can trade your rATOM for ROWAN and vice versa.

Beyond the added utility of trading your rATOM for ROWAN, there’s a bigger perk attached to this partnership. rATOM holders can take part in the liquidity mining of ROWAN, the Sifchain’s native token.

To take part in this exercise, you have to opt into the Sifchain Bloom Program. By participating in the program, you get the chance to earn ROWAN at a crazy APY of 65178737.90%. Of course, that APY won’t last, so keep that in mind. There’s the bonus pool if you add liquidity on Sifchain, but this is for a limited time.

Participating in the Sifchain liquidity mining exercise comes with the opportunity to earn FIS, StaFi’s native token. In the future, a liquid staking solution for ROWAN will be unveiled. This will improve the utility of the token as well.

Previous rToken Integrations

StaFi has collaborated with multiple projects both in the DeFi space and beyond. This has led to a gradual increase in its rTokens universe with several integrations along the way. Here’s a breakdown of existing rToken integrations:

rETH On Curve Finance

One of StaFi’s foremost partnerships was with Curve Finance, an automated market maker platform on the Ethereum chain. That partnership earned rETH a pass on community voting for the listing of the rTokens. The rETH/ETH trading pair is currently available on Curve Finance. You can add liquidity and stake your LP token to earn CRV and FIS tokens.

rMATIC On Quickswap

StaFi released its liquid staking solution for the Polygon Chain, which saw the creation of rMATIC. The synthetic derivative got integrated on Polygon’s main DEX, Quickswap. You can trade rMATIC for wMATIC and vice versa.

rBNB On PancakeSwap

The aggressive integration of rToken across the relevant chains continued with the listing of rBNB on PancakeSwap, Binance Smart Chain’s main DEX. The rBNB/wBNB trade pair has ample liquidity, so exchanging your synthetic derivative for the actual asset shouldn’t be a problem.

rToken Integration On Liqee

To improve the utility of the rTokens, StaFi collaborated with Liqee, a decentralized lending platform for liquid staking derivatives. rToken holders can use their assets as collateral to borrow loans. You get to earn rewards on your collateral while using the borrowed asset. The rewards are in LQE, Liqee’s native token, and FIS.

Liqee supports several rTokens, including rETH and rBNB.

What’s Next?

StaFi appears focused on exploring ways to maximize the value of its rTokens through utilities; the current crop of integrations and collaborations are proof enough. According to the DeFi protocol’s improved roadmap, rTokens will receive more attention as efforts shift towards giving these interest-bound tokens more use cases.

You can follow up more about StaFi below:

Website: www.stafi.io

rFIS Product: https://rtoken.stafi.io/rfis

rETH Product: https://app.stafi.io/rETH/staker/info

rDOT Product: https://app.stafi.io/rDOT/staker/index

rKSM Product: https://app.stafi.io/rKSM/staker/index

rATOM Product: https://app.stafi.io/rATOM/staker/index

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

--

--

--

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

PNX — 018 | Daily NFT News

[DPRating] What are some Quality ICOs to invest in May?

Osmosis Zone Update Blog 2022/03/14

PhotoChromic partners with Everlens

The best quality mining project on the SEA GOD Chain

Why VeChain price is expected to explode in the upcoming bull run?

New Ripple (XRP) Report Says $15 Trillion Market Could Leverage Blockchain

New Ripple (XRP) Report Says $15 Trillion Market Could Leverage Blockchain

WHAT IS FLASHADCHAIN ?

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Adaora Anders

Adaora Anders

More from Medium

StaFi December Development Recap

ENVELOP secures support for its wNFT technology from Animoca Brands

Enecuum Team Congratulatory Message

Zunami Protokol Ambassadors Program