TI Rating Report: StaFi Protocol

StaFi provides liquidity release solutions for staked assets in the PoS consensus mechanism. By staking tokens on StaFi, users will receive rTokens as a voucher which can be used to redeem the staked tokens and staking rewards. In addition, rToken can be traded in the secondary market or be put on the third-party protocol to earn yields. There are two main types of tokens on StaFi: rToken and FIS. FIS is the native token of StaFi, and rToken is the token obtained after users stake assets, which contains the value of the staked assets, staking rewards, and Slash penalties.

To unlock the liquidity of staked assets, StaFi designs a 3 layers technical structure consisting of the bottom, contract, and application layers. The bottom layer is a blockchain architecture based on Substrate, which is responsible for the issuance and circulation of FIS and rToken. The contract layer is used for creating Staking Contracts that can implement token transformations, including staking and redemption. The application layer allows StaFi and other protocols to build application scenarios for rTokens.

So far, StaFi mainnet has supported liquidity release solutions for 7 crypto assets, namely ETH, BNB, FIS, DOT, KSM, ATOM, MATIC. Furthermore, StaFi has developed several derivative products to support application scenarios for rTokens, such as rBridge, rPool, and Analytics. At present, it already bridges assets between StaFi with Ether and BSC.