Stone collaborates with StaFi to bring liquid staking assets into DeFi 2.0
What is 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.
rTokens, like rETH, rFIS, rDOT, rATOM, etc, are interest bearing assets which can bring many possibilities into Stone and other DeFi Protocol. ]
What is Stone?
Stone is a yield aggregation protocol that powers innovative yield generation strategies through liquid PoS staking. Following thorough review and research into the DeFi space, Stone has identified and crafted new farming strategies that tap into PoS farming, starting with staked ETH.
This means that Stone users will soon get exposure to yield opportunities in assets that are multiples the size of the current value locked in DeFi.
The emergence of yield farming 2.0 on Polkadot ecosystem
StaFi and Stone both recognize the potential of interoperability and have been designing new products on substrate, anticipating new assets emerging on Polkadot Ecosystem. “So far over 50% of DOTs are staked and that is worth 10 billion USD with 28 days of unbounding. In addition, parachain auctions will make even more DOTs staked within the system for up to 2 years. There is a strong market need of making the staked DOT liquid.” Mentioned Alex Lam, “Stone aspires to build index products and other interest products on substrate to harness the abundance of cross-chain assets on Polkadot and provide easy access for average users to yield-bearing assets.”
What will the partnership bring to the community?
Introduction of rETH onto Stone
rETH is a synthetic derivative asset issued to ETH stakers, that enables instant liquidity for the illiquid Ethereum 2.0 network. rETH can be redeemed from the StaFi platform for the stakers to keep in self-custody, trade on Uniswap or utilize in DeFi protocols to earn a yield.
Stone will support rETH in its farming strategy, providing rETH holders the best yields via liquidity provision and lending activities.
[StaFi is a generation platform of staking derivatives, rETH will solve the controversy between locking period and token dilution until phase1.5 of ETH2, integrated into STONE will bring a new use case for rETH holder, that’s yield farming, which make me excited] Said Liam Young, Founder of StaFi.
Accepting a staked asset in the DeFi space requires close scrutiny over the security of users’ funds and its credibility.
“StaFi is one of the early pioneers to develop the concept of liquid staking. At Stone, we are always actively looking for strong partners to complete the whole ecosystem of DeFi 2.0 — new assets, new strategies and new products. StaFi definitely brings new assets to allow Stone to develop new strategies and new products. We see the partnership going to be a super solid one to set the standards of how liquid staking yield farming shall be done in the future” commented Alex Lam, Project Lead at Stone.
Follow Stone on Social Media
Follow StaFi here
- Website: www.stafi.io
- rETH Product: https://rtoken.stafi.io/reth
- Telegram Chat: https://t.me/stafi_protocol
- Discord: https://discord.com/invite/jB77etn