StaFiHub: Everything You Need To Know About This Latest Addition
StaFi has recently submitted a proposal for the creation of StaFiHub. Voting is expected to decide if the proposal sails or goes through a fine-tuning phase. But what’s StaFiHub, and why is a proposal for its creation necessary?
What Is StaFiHub?
This will be the application layer of the StaFi Chain, supporting liquid staking solution dapps from third-party developers. At the moment, the StaFi protocol isn’t built to support the hosting of third-party liquid staking solution dapps, but that will change with the introduction of StaFiHub.
Through this parallel StaFi chain, the StaFi team hopes to cater to the growing number of staking derivatives on the Cosmos ecosystem. Cosmos SDK is expected to serve as the foundation of this latest StaFi addition.
Why Is A StaFiHub Necessary?
The current StaFi protocol isn’t enough to cater to everything staking derivatives, especially those on the Cosmos ecosystem. StaFiHub will expand the horizon for the DeFi protocol, allowing it to cater to more staking derivatives than what’s obtainable at the moment.
With the popularity of the Cosmos Eco Chain, StaFi is looking to port it’s rToken application towards the Cosmos SDK framework and StaFiHub is the tool for making it happen.
What To Expect On StaFiHub?
There’s a reason why the proposal for StaFiHub is coming from the StaFi team — it’s expected to mark the next phase of the StaFi roadmap. StaFiHub will grow the rToken universe, enhancing the possibilities available to users. The most significant attribute of StaFiHub is it will revolve around the Cosmos SDK. With the success story of the open-source framework, it’s no surprise that StaFiHub is getting fleshed out on that software development kit.
Unlike what happens with the StaFi chain, POA validators for the StaFiHub network go through a selection process put together by the StaFi Foundation. This is to ensure the security and efficiency of the network meet the desired standard.
StaFiHub won’t operate in isolation. It remains connected to the parent chain through the cross-chain bridge. This means you can easily move assets like FIS from the StaFi native chain to the StaFiHub.
If you’re looking to access a wide range of rToken apps, the StaFiHub is certainly the answer you seek. Applications will call the hub home. This will touch all staking derivatives on the Cosmos ecosystem.
The rise of StaFiHub will lead to greater adoption of liquid staking solutions, especially among chains built on the Cosmos SDK framework. At the last count, there are over 40 chains built using that architecture, and these will be nourished by StaFiHub.
Why Cosmos SDK framework?
Anyone can see that the StaFiHub is being built using the Cosmos SDK framework. With several other blockchain building development kits available, why Cosmos SDK? The reason isn’t far fetched.
Cosmos SDK is at the centre of many blockchain applications. It’s a favourite for developers building decentralized applications for different blockchains. The choice of Cosmos SDK for StaFiHub isn’t a surprising one when you consider the success story of the software development kit. Lots of popular dapps on chains like Cosmos, Kadena, Thorchain and others.
StaFiHub will be hosted on the Cosmos SDK chain to support further development of rTokens apps. StaFi has always been devoted to catering to all PoS chains, but it can’t reach them all with rToken apps relying on the StaFi chain. There are inherent challenges that affect the suitability of the StaFi chain for the proliferation of more staking derivatives, especially for chains that rely on the Cosmos ECO.
The choice of Cosmos SDK also bothers on convenience as well as efficiency. With the hitches linked to the StaFi chain that make navigating Cosmos ECO rTokens quite tortuous coupled with the many possibilities of the Cosmos software development kit, it’s only fair that StaFiHub comes to live and through that framework.
Conclusion
StaFiHub will help the StaFi protocol reach areas uncovered in the past. Users can expect a lot more from this parallel StaFi chain as its reliance on Cosmos SDK is a massive boost. Fingers crossed the proposal gets the nod.
Follow up to date information on StaFi Protocol by following the websites 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