StaFi Community Call for October #8

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A recording of Community Call for October can be found on Youtube: https://youtu.be/Hpcy1rGwyac

Highlights of The StaFi Community Call for October #8

1. Progress Recap and October/November Targets (Sara):

  • Recap:
    • Continued optimization and version updates for StaFi rToken App.
    • Merged rToken App launched integrating StaFi Chain & StaFiHub.
    • UI/UX streamlined; one-click DeFi for all rTokens, real-time rewards monitoring, and Wallet Connect feature added for wallet support (e.g., MetaMask, Rabby, Ledger, Keplr, PolkadotJs, Phantom).
    • Integration of rMATIC and rBNB into Mobile StaFi rToken App for staking MATIC & BNB directly.
    • Advanced DVT integration for $ETH liquid staking on Ethereum Goerli testnet with a Bug Bounty program.
    • Participation in ObolNetwork’s Alpha Mainnet and partnership with Tidal Finance for Validator Slashing Insurance.
    • Cosmos LSM supported on mainnet for direct ATOM liquid staking.
  • Future Targets:
    • Enhance rToken architecture, advance DAO and FIS Tokenomics.
    • Explore technologies for decentralizing Ethereum Staking, notably through StaFi rETH.
    • Reference to 2023Q4 roadmap for more details on upcoming initiatives.

2. Community Speech (Adam):

  • Updated Warrior, Ambassador, and Ranger Programs focusing on identifying Mint Channels and engaging with Professionally Generated Content (PGC).
  • Encouraged collaborations with influencers, thought leaders, and platforms for educational outreach.
  • Introduced new social media channels: Reddit, LinkedIn, and Substack for increasing StaFi’s visibility and community engagement.
  • Launched community incentives for staking, bug bounties, and liquidity incentives on various platforms to encourage participation and reward the community.

3. StaFi DAO Monthly Report (Olivia):

  • Financial updates showing revenue fluctuations and increased total revenue for all rTokens, with a focus on revenue from rETH, rFIS, and rHUAHUA.
  • Liquidity and community incentives designed to promote engagement with StaFi services and reward meaningful contributions to StaFi’s development.
  • Governance and transparency actions like governance framework discussion draft, proposal website construction, and research on off-chain voting undertaken.
  • Update on StaFi Warrior program and liquidity incentive budget plan for October mentioned, with a reference to a detailed post to be released next month.

4. Product and Business Development Updates (Shirley):

  • LSD Architecture Merging:
    • Merged StaFi rToken app with LSD architecture to create a unified and user-friendly experience.
    • Encouraged community to test the application and provide feedback via Telegram for any queries.
  • Mobile App Updates:
    • Integration of rMATIC, rBNB, and rETH into the mobile StaFi rToken app, facilitating easy staking and rewards tracking on mobile platforms.
    • Future integration of more wallets for rATOM to enhance user experience, especially for those familiar with mobile platforms.
    • Launched Cosmos LSM on rToken App, allowing users to stake ATOM and earn rewards without the need to unstake.
  • Security Enhancements:
    • Partnership with Tidal Finance to incorporate validator slashing insurance for Ethereum, protecting users from financial losses due to validator slashing.
  • Decentralization Efforts:
    • Progress with SSV and DVT (Distributed Validator Technology) implementations, having completed the first phase of testing.
    • Participation in Obol Network’s alpha mainnet as one of the first batch partners for Obol DVT integration, furthering decentralization efforts for rTokens.
  • Market Strategy Amid Bear Market:
    • Despite the bear market, successful campaigns and new partnerships have been forged.
    • Over 11 rToken pairs listed on 18 DEXes across 9 chains, with new protocols and DeFi yields integrated (e.g., Wombat, Timeswap, Kyberswap, and Magpie).
    • New pools specifically for rBNB token and campaigns such as rETH and rATOM Mint Campaigns launched to attract more users from the Cosmos chain.
  • Chainlink CCIP Integration:
    • Announced cooperation and integration with Chainlink’s CCIP (Cross-Chain Interoperability Protocol) to facilitate better staking rates.
    • CCIP enables secure cross-chain liquid staking, transmitting rates from Ethereum to Arbitrum, Polygon, and other Layer 2s, marking a significant step towards secure cross-chain liquid staking.

5. Insights into the Development of StaFi DAO (Signal):

  • Discussion on governance frameworks considering TVL distribution and potential migration of FIS tokens to ERC-20 if governed on Ethereum.
  • Introduction of StaFi Improvement Proposals (SIPs) for core protocol specifications, contract standards, and client APIs.
  • Mention of guardians for protocol security providing access control, contract management, and protocol parameter setting.

6. Efforts on Decentralizing Ethereum Staking (Tore):

  • Implementation of upgradeable smart contracts for non-custodial deposits and withdrawals, audited by PeckShield and Blocksec.
  • Public node operator registration allowing anyone to register as a solo validator with a self-stake requirement, aimed at reducing centralization risks.
  • DVT integration with SSV, rigorous testing on testnet, and plans for mainnet launch.
  • Future plans for integrating StaFi DAO management as the DAO is gradually established, with the DAO controlling contract upgrades, parameter updates, and service operations.

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