StaFi Community Call for August #7

We’re thrilled to invite you to the 7th edition of the StaFi Community Call this August - a power-packed session where innovation, progress, and community spirit converge!

Topic: rToken Merger of StaFi & StaFiHub
Date: 8AM UTC, 7th August 2023


1.Progress Recap and August/September Targets
2.Community Speech
3. StaFi DAO Monthly Report
4.Product Updates
5.Insights on rToken Merger and implications
6.Q&A and Open Discussion

Whether you’re new to StaFi or a long-time member, we warmly welcome everyone. This is your golden chance to know more about StaFi’s ecosystem, engage directly with the team, and contribute your invaluable feedback and ideas.

Have a question about StaFi, StaFi LSTs, or the rToken Merger? Drop it right here in this thread before the event, and we’ll make sure we cover it during our Q&A session.

We’re beyond excited to connect with you at the meeting! Your perspective enriches our collective understanding and helps us continually evolve. See you there!

Follow our official channels to stay updated!
Website | rToken App | Twitter | Telegram | Discord | YouTube | Telegram Announcement


The Highlights of StaFi Protocol’s Team And Community Monthly Meeting for August #7

During the StaFi Community Call on August 7th, 2023, we delved into the accomplishments of June and July while setting the stage for our aspirations in August and September. Our commitment remains unwavering in keeping our community abreast of the latest advancements, ensuring transparency in product evolution, and fortifying our collaborative endeavors.

1. Progress Recap and August/September Targets (Sara)

  • Recap: Over the past two months, StaFi made significant strides in product development and collaborations. The proposal of StaFi Tokenomics V2 aimed to revamp the FIS token, rTokens, and StaFi appchains for sustainability and scalability. The migration of rBNB and rMATIC to EVM LSD Architecture was a major achievement, ensuring user asset security and a better user experience.
  • Future Targets: For August and September, the primary focus will be on the development of the EVM LSD and the rapid integration of SSV. There’s also a keen interest in research on interoperability. Collaborations will be expanded, especially with LSDFi projects to provide more use cases for rTokens.

2. Community Speech (Adam)

  • StaFi Warriors & Ambassadors: These dedicated individuals have been pivotal in expanding StaFi’s presence in the DeFi ecosystem, managing Discord servers, Twitter handles, and identifying potential DeFi integrations.
  • Awards & Recognition: The introduction of the StaFi Warrior Star Awards aims to reward outstanding contributors. Jupiter (@mrrpiusz) and Sanchez (@kvng_aries) were highlighted for their exceptional contributions.
  • Warrior Status & Rangers Report: Efforts are being made to streamline promotional activities by merging StaFiHub and rDEX with StaFi Protocol. The StaFi Rangers Program, aimed at enlisting Twitter influencers, has seen significant success, with 13 Rangers currently active and a notable increase in tweet impressions.
  • Documentation & Community Initiatives: The launch of the latest StaFi Docs aims to simplify user experience. Community-driven initiatives like the StaFi rBNB and rMATIC Bug Bounties have been rolled out, emphasizing the importance of community feedback.

3. StaFi DAO Monthly Report (Olivia)

  • Introduction: Olivia expressed her excitement and honor in representing StaFi DAO and sharing its recent developments.
  • Monthly Reports: To enhance transparency, StaFi DAO will release monthly reports detailing StaFi’s financial situation, revenue, and other progress. This initiative ensures regular updates for the community.
  • Revenue: StaFi charges commission fees ranging from 5% to 10% based on different LSDs, with potential additional redemption fees. In July, income was generated from sections including BNB, KSM, DOT, ETH, SOL, MATIC, ATOM, and FIS.
  • Community Incentives: Approximately 50,000 FIS were awarded to active community members, campaign participants, and supporters.
  • DAO Governance: The StaFi governance framework is being actively designed. StaFi Improvement Proposals (SIP) will be a central focus. The proposal process is being redesigned, and off-chain voting is in the technical development phase.

4. Product Updates (Shirley)

  • EVM LSD Architecture: Shirley highlighted the team’s dedication to the development of the EVM LSD architecture, designed to enhance the usability and security of rTokens. Significant progress includes the release of rBNB and rMATIC EVM LSD solution integration proposals.
  • Mobile Compatibility: The StaFi ETH app is now mobile-compatible, allowing users to stake rETH and engage with the StaFi ecosystem using mobile wallets like Metamask.
  • Merging of StaFi rToken App: The app has been expanded to include 11 rTokens from four major ecosystems: EVM, Cosmos, Polkadot, and Solana. Feedback is encouraged to further improve the user experience.
  • Security Enhancements: Shirley emphasized the importance of security. StaFi released audit reports for rBNB and rMATIC contracts and launched bug bounty programs to identify potential vulnerabilities.
  • Collaborations & Integrations: StaFi has actively collaborated with various platforms. Notable integrations include Kyber Network, Timeswap, Wombat, Balancer, and Aura on Arbitrum. The integration with ChainLink’s CCIP will further enhance cross-chain interoperability.

5. Insights on rToken Merger and implications (Tore)

  • rToken Development: Tore discussed the extensive development work on different chains, with 11 tokens in StaFi involving ETH, BSC, Solana, ATOM, and more.
  • Merging Challenges: The merger of StaFiHub app into the main StaFi rToken app presented technical challenges, but the team successfully completed the relevant development work.
  • New rToken App Architecture: The architecture is designed to be adaptable, separating the front-end from data processing logic. It uses various third-party libraries to interact with different chains and StaFi chain contracts.
  • Future Prospects: Tore expressed optimism about the unified architecture’s adaptability to integrate more new ecosystems in the future. The team will continue to improve the architecture design, optimize the functions of the merged rToken app, and ensure it remains at the forefront of staking platforms.

A recording for Community Call for August can be found on Youtube:

Website | rToken App | Twitter | DAO Forum | Telegram | Discord | YouTube | Telegram Announcement

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