Tuesday, September 28, 2021
Home Latest News Altcoins How StaFi adds liquidity to staked assets such as DOT and ETH2...

How StaFi adds liquidity to staked assets such as DOT and ETH2 to the Polkadot project

Crypto assets are held in large quantities of capital. All those markets are made both tradable and liquid by a fairly new platform.

StaFi is one of the first decentralized protocols developed in 2020, based on Polkadot and which helps release liquidity of stacked assets via its own platform. This means that users can insert their stake proof (PoS) tokens and obtain a ‘rToken’ in return (reward tokens).

These rTokens allow users both to earn the staking reward and to exchange at the same time the locked staking token. “You can stake your PoS tokens through Staking Contracts built by StaFi,”  the team said in a post, adding:

“All you have to do is use the tools to stake your PoS tokens, and you’ll receive rToken in return which can be exchanged and traded on DEXes and CEXes in the near future, as well as integrated in other DeFi protocols.”

Earlier, StaFi developers had released rETH, a solution to ETH2.0 staking liquidity, with the support of community contributors. This unlocked the door to be tokenized, liquified, and exchanged for the almost $3.3 billion locked in ETH 2.0.

In fact, the user staking number was reduced to 0.01 ETH instead of the 32ETH ($33,000) needed by ETH 2.0, which further decreases the masses’ barrier to entry.

For Ethereum, StaFi, Polkadot, Kusama, Tezos, and Cosmos, rTokens can (or will be) created. RETH and rFIS are already being audited, rDOT/rKSM is being developed, and rXTZ/rATOM will be launched in Q1.

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