Nov 23, 2021
What POS Chain To Anticipate In StaFi Protocol
StaFi protocol has been in the business of liberating PoS chains from the chokehold of illiquidity. The DeFi project achieves this through liquid staking, a lucrative staking model.
Several PoS chains have hooked up to StaFi, providing their users with the tempting option of liquid staking. Ethereum 2.0, Polkadot, Binance Smart Chain, and Polygon are some of the chains currently enjoying this service. The DeFi protocol hopes to cover more chains in the coming months.
Possible PoS Chains Coming To StaFi
Staking Finance Protocol’s journey to solving the locked liquidity in PoS chains has been a marvel. The DeFi project has done significantly well in the number of networks covered, but there’s a lot more work to be done.
Multiple POS chains have been mentioned as the next on the list for StaFi. But what are the likely blockchains on the list? You can check them out below:
Avalanche
If there’s one Proof-Of-Stake blockchain on the radar of StaFi, it’s Avalanche. The digital ledger has seen an increase in the number of dapps building on it thanks in part to its support for Ethereum-based apps, its massive throughput, and the incredulous transactional finality of the chain.
Being a PoS chain, Avalanche requires AVAX holders to secure the network by staking the token. As always, block rewards are shared among stakers. To avoid any breach of the blockchain, unstaking can take a while. This is where the input of StaFi will be felt greatly. Those staking AVAX through StaFi can jet out whenever they want by selling off the rAVAX tokens.
With the onboarding of Avalanche on StaFi Protocol, staking AVAX tokens through the DeFi platform ensures stakers get the maximum reward. Delegating staked AVAX to a node can be a double-edged sword, but StaFi’s node operators make it look easy.
With Avalanche getting traction, there’s a likelihood the PoS chain is the next in line for the StaFi liquidity liberation exercise.
Tezos
This is another PoS chain where the liquid staking solution provided by StaFi will prove helpful. Tezos thrives on innovation and community participation. Yet, it still requires XYZ holders to delegate the tokens to node providers — an infamous part of every PoS chain.
StaFi can improve the efficiency of the Tezos Network by making XYZ staking more enticing for holders. Users won’t be put off by a lockup period or the cost of operating a node — a situation notorious among Proof-Of-Stake blockchains. PoS chains like Tezos use incentives to motivate asset stakers, but it comes to naught if native token holders still feel short-changed by the process.
Cardano
You can’t talk about proof of stake blockchains without mentioning Cardano. Yet, the liquid staking solution for that network is not in the works till now. With the popularity of Cardano and the great interest in what they are building on that blockchain, the StaFi team will take notice.
Near
The simplicity and elegant user interface design of Near Protocol have endeared it to many. Nothing beats aesthetics, and this blockchain understands that. Yet, Near isn’t just eye candy, it’s a digital ledger hoping to tackle some real-world problems. The blockchain’s support for the creator economy is something that will disrupt the creative industry.
With Near looking to corner a big chunk of the creative industry, you’d expect StaFi to offer a liquid staking solution to the POS chain users. Though the network might have interoperability connections to blockchains liberated by StaFi, the blockchain users should still have a shortcut to accessing liquidity.
Conclusion
It’s certain that more PoS chains are on the StaFi radar. The DeFi protocol has never been one to shy away from more responsibility — a look at the blockchains liberated is enough proof. We believe the PoS chains highlighted in this article should be anticipated in StaFi.
USEFUL LINKS
Website: www.stafi.io
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rETH Product: https://app.stafi.io/rETH/staker/info
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rKSM Product: https://app.stafi.io/rKSM/staker/index
rATOM Product: https://app.stafi.io/rATOM/staker/index
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