StaFi is a decentralized finance protocol that was first to unlock the assets individuals had stuck in the staking process. Thanks to StaFi or Staking Finance, one can add staking to the cryptocurrency pool and receive the necessary tokens in exchange. Before StaFi, it was impossible to trade cryptocurrencies with staking. However, with the help of Stafi (FIS) tokens, which can actually be tokens of any cryptocurrency, it is now possible not only to trade such assets but also to receive passive income.

FIS is a governance token in this whole new system. In addition, staking of this token allows securing the ecosystem. Transaction fees are also paid with FIS. It would not be possible to mint rTokens, which allows having two steams of income simultaneously, without FIS either.

What are StaFi’s key features and how does it work?

Built on Polkadot, this is a fully decentralized system. StaFi is a standalone blockchain based on Substrate and built to be interoperable with other blockchains via the Polkadot Relay Network (DOT). StaFi works similarly to various Ethereum automated revenue hunting protocols, except that it is limited to staking.

rTokens are given to users in amounts equivalent to PoS tokens users have staked. Then, users can go to DEX exchanges to trade the rTokens on top of getting rewards when staking their assets. This project also supports third-party or custom APIs to deliver a decentralized marketplace for trading-related assets, where users can make transactions with rTokens.

rToken is issued through contracts on the Substrate platform, which includes component technologies such as P2P networks, consensus algorithms, and staking features. This means that rToken is Substrate compliant, not ERC20 compliant. 

StaFi, though, has already developed and launched a bridge between Ethereum and StaFi to allow rTokens to be replaced by ERC20, which is an important step in making this system even more attractive. It currently supports reward tokens for its own protocol as well as Ethereum token. Other PoS tokens are planned to be added to the protocol soon. 

What makes StaFi noteworthy?

This protocol came before all the other protocols that allow you to trade cryptocurrencies with staking and simultaneously receive passive income. As the PoS system is increasingly becoming the consensus algorithm of choice, there is a challenge of helping validators unlock assets that are frozen due to staking while maintaining the original chain’s security. 

StaFi was a pioneer solution to the problem just described. With the help of rTokens, the assets so many users had frozen before can now circulate without the users having to cancel the stake. The liquidity dilemma faced by market players associated with staking is now gone. It also makes it more likely that more blockchain developers and crypto enthusiasts will consider PoS consensus.

Where can you buy StaFi?

What is the price of the FIS token? You can not only find out the current FIS price on the Markets page but also go directly to the exchange of your choice and buy this token. 

If you would like to explore StaFi a little more, check out the Overview page, which presents basic data on this token, StaFi live chart as well as a historical chart (FIS Price Index), monthly and quarterly returns, and more.