Decentralized Finance is making huge waves in gaining access to almost 75% of the cryptocurrency market. A lot of new projects has emerged on the existence of DeFi and quite few as shown it’s capabilities and efficiency to stand as a promising project.
In as much as there are DeFi projects that are promising, only few have good use cases. Stafi_Protocol has seen a lot of bottlenecks which the DeFi ecosystem is encountered and has proffered solutions in curbing them making them the first DeFi protocol to unlock the full potential of staked tokens.
Stafi_Protocol has provided a convenient, secure and fast rToken issuance which would provide liquidity for all staked assets. These measures would stand in eliminating the risk of price fluctuations when staking.
In the long run, users staked tokens via the stake contract in order to receive rToken in return which can be used to for trading. Since Stafi_Protocol is providing a convenient and secure means to make rToken available to everyone, It made partnership with UniLend Finance making it possible for users to access rTokens on UniLend and also open up new avenues of yield generation for all UniLend Users.
The DeFi community is not only known for it’s token prices, liquidation and volume but it’s well known for the value added to the community through its use case. Stafi_Protocol has much value to add to the UniLend Ecosystem, It would be integrating the alternative token — rTokens on the UniLend Ecosystem so as to allow users trade, borrow or lend their staked tokens on the UniLend Platform.
The integration of the rToken has been scheduled in Stafi_Protocol Q4 Roadmap — Bridge and rSubstrate which would involve a lot of expansion on the development of the rToken Standard, rFis, Substrate rToken, Listing, partnership, parachain auction and ERC20 Bridge.
Tokens would be staked and rTokens are minted in the StaFi network and can be converted into ERC20 through the rBridge built by Stafi_Protocol which can be utilised on any Ethereum-Based DeFi Application.
With UniLend Finance utilizing the StaFi’s rTokens:
- All UniLend Users will have the benefits of receiving staking rewards while they make Trades, Supply Liquidity, Collaterize and Lend out rTokens
2. All UniLend Users will also have an advantage of getting access to new avenues of yield generation.
3. Everyone can bring their rToken into UniLend and use them as collateral to borrow assets and in turn receive an interest rate.
The benefit of StaFi’s rToken on the UniLend ecosystem is that users can take advantage of staking rewards while retaining the ability to access their token for trading and DeFi functionality.
Staking Process to earn rTokens
A user stakes Fis Tokens on the Stafi_Protocol and receives both the staked token and the alternative token — rToken. The rTokens received will be an equivalent value of the staked tokens . So imagine it this way, A UniLend user stakes 25000FIS token via StaFi, he/she would receive 250000rFIS token which can be used to interact with the DeFi Protocol.
For More Information about UniLend Finance:
Website: http://unilend.finance/
Telegram Group: https://t.me/UniLendFinance
Twitter: https://twitter.com/UniLend_Finance
Reddit: https://www.reddit.com/r/UniLend
Medium: https://medium.com/unilend
For More Information about StaFi Protocol:
Website: https://www.stafi.io/
Telegram Group: https://t.me/stafi_protocol
Twitter: https://twitter.com/Stafi_Protocol
Discord: https://discord.com/invite/jB77etn
Medium: https://medium.com/stafi
