To the StaFi Community and rLaunchpad Committee:
This proposal outlines the potential listing of three innovative rTokens - rFTM, rNEAR, and rMETIS - on the rLaunchpad program to foster community engagement and drive StaFi protocol adoption. By integrating these promising DeFi projects within the rLaunchpad ecosystem, we aim to:
- Expand StaFi’s Eco Coverage: Offering rFTM, rNEAR, and rMETIS expands StaFi’s reach into diverse ecosystems and its DeFi sectors, including leveraged yield farming, liquid staking, and on-chain derivatives.
- Enhance rToken utility: Drive higher staking volume and capital appreciation for rToken holders.
- Enhance Community Involvement: Integrating these projects incentivizes community participation through rLaunchpad features. This fosters deeper engagement, attracts new community members, and strengthens the bond between StaFi and our community.
Fantom is a fast, scalable, and secure smart contract platform built on an aBFT consensus protocol it is permissionless , decentralized and open sourced. Lachesis, its revolutionary aBFT consensus mechanism, allows Fantom to be faster and cheaper than previous technologies while retaining security which makes it a suitable chain considering that fees are cheap and fast there would be a wide array of protocols that is building ontop of the chain which can help our rFTM acquire liquidity.
- FTM: 2.8b+ circulating at 88.3% already, with a maximum supply capped at 3.175b.
- TVL: ~$147 million with FTM LSD protocols with only $4 million in TVL.
- Recent growth: ~319% growth in TVL since October lows at $46 million.
- Adoption: Strong adoption by DeFi users as due to protocol fees are cheap. Large number of DeFi builders such as SpookySwap, Curve Protocol, Stargate, Layer Zero and our vault partner as well Beefy Finance
- Recent news: Fantom Foundation launches testnet for Fantom Sonic
Pick Reason: Fantom faced a setback with the recent Multichain Bridge exploit, resulting in a substantial decrease in its Total Value Locked (TVL) from over $240 million to just above $80 million within a week. This decline continued, reaching a low of $46 million in TVL in October. However, Fantom has made a strong comeback, experiencing a threefold growth in TVL. This resurgence is attributed to the anticipation of an upcoming chain upgrade. As the platform attracts established builders and users with its rapid transaction speed and low fees, there is a renewed interest in the Fantom chain with the upcoming chain upgrade Fantom Sonic. With the LSD Protocols capturing only a relatively small portion of the chain TVL , the introduction of rFTM could serve as a solution to boost the popularity of liquid staking on the Fantom chain and acquire liquidity that can boost the growth of our rTokens.
Near Protocol (NEAR)
NEAR is a user-friendly and carbon-neutral blockchain, built from the ground up to be performant, secure, and infinitely scalable. Is a layer one, sharded, proof-of-stake blockchain built with usability in mind, with scalability due to sharding, and is compatible with an L2 chain built ontop of it which is Project Aurora.
- NEAR: 1.01B circulating with a max supply of 1.17b.
- TVL: ~$100 million
- Growth: ~322% growth in TVL since August lows at $33 million.
- Adoption: Growing user base with a good technology for its scalability due to sharding .
- Recent news: Binance completes integration of USDC on Near Protocol.
Pick Reason: The notable rise in both the value and trading volume of NEAR Protocol (NEAR) signifies an elevated level of engagement from the market and heightened interest from investors. The cryptocurrency has attracted attention due to its distinctive approach to blockchain technology, placing a strong emphasis on scalability and user-friendly decentralized applications (dApps).
The recent upswing in price and value suggests a growing enthusiasm and interest in NEAR. The integration of native USDC on Binance further underscores this surge in activity, indicating a clear demand for NEAR in the market.
Metis, an optimistic rollup Layer 2 solution, offers a combination of efficiency and flexibility, effectively tackling issues present in various existing Layer 2 solutions. At the core of this innovation is the Metis Virtual Machine (MVM), a crucial component that is indispensable for transforming the collaborative and transparent dynamics of collective efforts among individuals and organizations in the future.
- METIS: 4.57 million circulating supply with a max supply of 10 million
- TVL: ~$101 million
- Growth: ~320% growth in TVL since the September lows at $31 million.
- Adoption: Builder protocols such as Stargate , Netswap ,Tethys Finance , AAVE and our vaults protocol partner Beefy Finance.
- Recent news: Metis DAO will launch in q1 2024 4.6m $METIS Ecosystem Development Fund.
Pick Reason: We’ve witnessed the transformative impact of grants on various chains, including AVAX Rush (Avalanche Grants), OP Ecosystem Grants, Arbitrum Ecosystem Grants, Fantom Ecosystem Grants, and more. Now, Metis is set to introduce its multimillion-dollar grants program, aimed at supporting protocols built on the platform. This initiative is expected to drive user adoption and secure liquidity within the chain. Following this exciting announcement, it comes as no surprise that the Metis ecosystem has experienced a remarkable threefold to fourfold increase in its price within just one week.
Community Feedback and Governance:
Community feedback is the heartbeat of governance, and together, we build a stronger, more inclusive ecosystem. Share your thoughts, ideas, and concerns – let’s co-create the path forward.