On January 5th, Stafi released their Roadmap for the Q1 2021, which includes rBridge development, Integration StakingDrop development and rToken development. StaFi also has released rFIS product, which unlocks the liquidity of StaFi’s mainnet token FIS and helps FIS stakers enjoy liquidity in decentralized exchanges or lending protocols without waiting for the 14-day unbonding period. The full solution introduction could be checked in the rFIS Whitepaper.
In the rFIS product, the deposited FIS tokens of rFIS staking contract will be automatically nominated to a batch of Original Validators (OV) in accordance with the nomination strategy on chain. Therefore rFIS products require a large number of validators to join the OV program. In a few days, rFIS product will be officially released. All PoS nodes are welcome to join the OV program of StaFi rFIS. If you have any questions about this program, you’re welcome to join the rFIS OV telegram group for communication:
rFIS OV telegram group:https://t.me/stafi_testnet .
StaFi rFIS Original Validator Recruitment Campaign
In the business structure of rFIS, we will launch the Original Validators (OV) program. The Original Validators are the ones who have joined the FIS Staking Contract plan. Using the FIS token deposited by the user, the StaFi Staking contract will nominate each OV who joins the OV plan according to the nomination rules.
Since StaFi adopts NPoS consensus, the staking income obtained by each elected node is relatively equal without any correlation with the number of Staked FIS. In addition, the nominators (stakers) of the elected nodes will share the proceeds of Staking by the proportion of votes. That means if one elected node has more Staked FIS than another, stakers will enjoy higher RoR if they choose to Stake the later.
Therefore, the rFIS Staking Contract will automatically execute the following nomination strategy:
1) Nominations are executed in every Era(6H).
2) OVs are selected whose commission is set less than or equal to R, which will be set at 10% in the beginning.
3)Nominations of the picked OVs are sorted from low to high, and the first number N OVs are chosen to nominate (number N will set at 10 in the beginning).
Note: Both R and N are governance parameters and will be slightly adjusted according to the market situation and product development.
Why be an OV?
1) You could win more staking commission rewards. Becoming OV in rFIS could give you the chance to win up to 10% commission of the staking rewards from the nominations of rFIS staking contract.
2) No need to pay costs to attract nominations any more. If you want to be the official validators on StaFi mainnet now, you have to pay considerable costs for your validator campaign to attract stalkers’ nominations, but now with rFIS solution, you could just follow the above 2 steps to be an OV and win nominations from rFIS staking contract. This will be a great opportunity for the new validators or validators in the waiting list.
4.How to be a OV?
1）Run a validator on StaFi main-net;
- System: Linux or Macos, Ubuntu 18.04 is recommended
- CPU: at least 2 cores, Intel Core
- Memory: at least 8G
- Hard disk: at least 200G, regularly evaluated
- System: Linux or Macos, Ubuntu18.04
- CPU: 4 cores, Intel Core
- Memory: 8G
- Hard Disk: 500G
Please check the guide.
2）Set an on-chain identity
5.How to operate？
6.What type of account will become an OV account？
Controller account on StaFi mainnet
7.How to ensure that the validator’s account is the Controller account?
Import the Controller account into the Polkadot Js extension, click the account in the upper right corner of the figure below to display the currently imported StaFi account, and select the controller account to operate.
with these illustration, you can perfectly be an Original validator
About StaFi Protocol
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. FIS is the native token on StaFi Chain. FIS is required to provide security to the network by staking, pay for transaction fees on the StaFi chain, and mint & redeem rTokens.
Telegram Chat: https://t.me/stafi_protocol
Telegram Announcements: https://t.me/stafi_ann