Keeping In Track With StaFi
StaFi protocol has never relented over the months especially since they released their roadmap which will drive the project to mass adoption and also usher in the project to a new horizon.
The team has done well so far and have been launching products back to back which includes the rFIS, rETH etc while other products are still underdevelopment, StaFi has moved forward to attract other stronger projects as partners that will join the StaFi ecosystem. The most recent partners of StaFi are Easy_Finance and Tidal, these project has joined StaFi inorder to work together for a common objectives.
In these article we are going to discuss the objectives and mission of these partnerships
STAFI PROTOCOL PARTNERS WITH EASY_FINANCE
StaFi Partners with EasyFi to introduce Staked Derivative Assets Money Markets on Layer 2 DeFi
- StaFi & EasyFi have partnered to make rTokens accessible on the EasyFi lending platform as collaterals.
- Collateralized rTokens from StaFi on EasyFi will allow users to lend & borrow staked derivative assets on the EasyFi platform — Hence enhancing liquidity further in DeFi.
- This will open up new avenues of yield generation for EasyFi users and also allow them to borrow stablecoins from EasyFi’s borrow markets.
- EasyFi Network, is the first lending protocol on any Layer 2 network to list staking derivatives of staked assets as collaterals.
- This partnership is Stage 2.0 of the #DoMoreWithDeFi vision of EasyFi Network, to continuously work towards maximizing the utility of crypto and other digital assets through our platform.
We are very excited to announce our partnership with StaFi, the first DeFi protocol for unlocking liquidity of staked assets. This collaboration will initiate new collateral markets on the EasyFi lending protocol with the inclusion of multiple rTokens e.g. rFIS, rETH, rATOM and others as collaterals.
How EasyFi plans to foster the partnership with STaFi
EasyFi has extended its #DoMoreWithDeFi initiative by introducing staked derivative assets money markets on EasyFi Network’s Layer 2 DeFi Lending protocol.
Here is a summary of what we are planning to do in Stage 2.0 of #DoMoreWithDeFi:
- rTokens minted on the StaFi network will be listed on the supply markets of Protocol V1. https://app.easyfi.network/#/lending/dashboard
- rToken holders can then supply them into the corresponding token markets and earn yield on the same.
- On supplying the rTokens, the users are eligible to borrow from the stablecoin markets on EasyFi.
rTokens are derivative tokens that are received by users on staking PoS (Proof of Stake) tokens on StaFi smart contracts. For every POS token staked, users receive an equal amount of rToken in return, e.g. rXTZ represents staked XTZ. A rToken allows users to receive staking rewards as well as access its liquidity through trading. They can also redeem the corresponding amount of staked tokens at any point in time.
StaFi & EasyFi
Speaking on the occasion of this partnership, Ankitt Gaur, Founder & CEO, EasyFi Network said: “We are very happy to partner with StaFi and bring their rToken as new collaterals to EasyFi lending platform. We are absolutely confident that our collaboration will help unleash the true potential of staked assets through our new staked derivative asset markets.”
Also commenting on this integration, Young Liam, Founder, StaFi stated: “We hope to work with Easyfi on bringing the brand-new reward-generating asset rToken into Easyfi ecosystem, and enabling users holding any of these reward generating tokens to be used as collateral to take loans on easyfi. We will see the great synergies between Easyfi and StaFi in the near future.”
Tidal Finance partners with Stafi Protocol to provide Asset insurance and increase platform security
Through this partnership, Tidal Finance will bolster security of Stafi’s platform and help launch its initial coverage pool.
Integration of Tidal asset coverage features with Stafi Protocol
Tidal Finance is a decentralized discretionary mutual cover protocol that offers DeFi community the ability to hedge against failure of any DeFi protocol or asset.
Tidal Finance will adequately protect the smart contracts created on Stafi and develop a mechanism that provides additional yield as the insurance/their incentive can be built in. The Stafi team also intends to create future integrations into yield optimization features.
Value proposition of the Tidal-Stafi partnership
Tidal will also work closely with the Stafi team to launch its initial coverage pool. With Stafi participation, Tidal finance could offer more coverage to cover buyers and increase LP’s returns.
“I am excited to work with Stafi to offer mutual cover pools to ensure more confidence in the Stafi platform,” said Tidal founder Chad Liu.
Tidal.Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. With Tidal, Users can select risk pools by choosing any combination of protocols/assets and their coverage terms (premium, cover period, etc). Liquidity Providers, on the other hand, can invest in pools that suit their risk/reward ratio.
Stafi provides a secured solution to address the conflict between the mainnet security and the token liquidity in the staking model. The token holder obtains bonded assets of equivalent value to the tokens by staking in exchange for equivalent rTokens.
In the coming months, while the whole team is still going full steam expanding the rToken product matrix, Stafi will continue to support the community and will be striving to provide early product supporters and community members additional ways to earn and further contribute to the rToken universe.
rFIS Product: https://rtoken.stafi.io/rfis
rETH Product: https://rtoken.stafi.io/reth
Telegram Chat: https://t.me/stafi_protocol
Telegram Announcements: https://t.me/stafi_ann