StaFi and Its Ecosystem Project rDEX

StaFi: you may or may not have heard about this protocol, but it has attracted significant attention in a short time. It is interesting to see that even Binance has taken notice of them and this has gotten a lot of people asking the question "can the StaFi project be the liquidity solution to PoS projects?" So today, we are going to explore more about StaFi and their ecosystem project "rDEX".

About StaFi

StaFi is an abbreviation of the words "staking finance". They are a decentralized finance (DeFi) protocol. StaFi is the first DeFi to unlock liquidity of staked assets. For a while now, one of their primary goals and values has been to safely unlock the liquidity of assets such as ETH2.0, BNB, ATOM, DOT, and so much more.

With StaFi, users can stake any of their PoS tokens and then receive rTokens in return. This automatically translates to the appealing fact that these users can earn rewards from staking their PoS tokens and at the same time receive rTokens which can and will be available for trading! The users have the freedom to use their rTokens the way they deem fit including transferring or trading them whenever they wish.

Role of other DeFi in liquidity staking solutions

Many other decentralized protocols unlock the liquidity of staked assets. Through them, the users can stake proof of stake tokens and receive rewards. Since the world is seeing a big shift from proof of work to proof of stake, the big is question is "what will happen to the bulk of the locked-up capital?" Fortunately, these decentralized finance protocols prefer a solution by providing safe and secure routes through which users can earn rewards while staking their assets.

How do these Decentralized protocols boost liquidity? 

For the liquid staking solution, StaFi and some of the other DeFi protocols run on three layers. 

• Bottom layers

• Contract layers

• Application layers

Bottom layers: The bottom layers works through the blockchain Substrate which was built by Parity

Contract layers: The contract layer is exactly what its name implies. Its major function is to support different kinds of contracts, especially staking contracts. Some of these staking contracts are DOT and SOL.

Application layer: Unlike the contract layer, the application layer supports third-party APIs that are StaFi based.

Let's talk about the ecosystem project "rDEX"

What is rDEX?

rDEX officially went live a few days ago. The essence of the launch was for rDEX to directly support the rTokens trading. These rTokens are issued by StaFi and the launch move will essentially improve the level of rToken liquidity for users.

So what are the features of rDEX?

Features of rDEX

1. It is secure

 rDEX is safe for use. Even before its release on the mainnet, it was thoroughly tested and scrutinized to ensure maximum safety. Even Peckshield did an audit to confirm the safety of rDEX. The fact is even with all the testing, we cannot say for sure with absolute certainty that rDEX is without any security flaws but we know that they have done a fantastic job of improving the safety levels of the project.

To ensure a more thorough assessment, the StaFi core team requested help from the community in something called the "Bug Bounty Program" the Bug Bounty Program was targeted towards receiving feedback (both optimization suggestions and code bugs) from the community. The program ended on 17th February 2022 and it consisted mainly of positive reports and optimization reports here and there which suggest that rDEX is generally safe.

2. It provides continuous liquidity

 rDEX makes use of the Thorchain's market maker model to provide continuous liquidity for rTokens. These include rSOL, rETH, rBNB, rFIS, rDOT, rKSM, and others.

3. Lower slippage

rDEx offers low slippage for both small and average sized transactions. Slippage is the difference in the price between a cryptos said price and the actual paid cost. Slippage is a hiccup for most traders and rDEX fixes this by providing lower slippage.

StaFi's new project "rDEX" is one of many other liquidity staking solutions. The team's priority of safety is impressive and it goes to say a lot about the attention to the details paid to this particular project. The impact of these protocols on boosting liquidity is exciting, to say the least.

About StaFi

StaFi is the first DeFi protocol unlocking liquidity of staked assets. Users can stake PoS tokens through StaFi and receive rTokens in return, which are available for trading, while still earning staking rewards. rToken is a synthetic staking derivative issued by StaFi to users when users stake PoS tokens through StaFi rToken App. 

rTokens are anchored to the PoS tokens staked by users and the corresponding staking rewards. rTokens can be transferred and traded at any time.

Website | rToken App | Twitter | Telegram | Discord | Forum

About rDEX

rDEX is an AMM DEX developed by StaFi that seeks to solve the liquidity problems associated with rTokens, the staking derivatives issued by StaFi. It will provide decentralized transaction services for rToken users with the key features including Continuous Liquidity, Lower Slippage and Asymmetrical Deposit.