​​Liquid Staking by STAFI - Rich Code or Rekt 🐳 @stafi_protocol

With the market hitting ATHs, we see the resurgence of the primary market. In fact, VCs are hammering into anything "DeFi" without a second thought. Does this mean market topped? Well, I thought it did so in April, so I missed out all the profits sitting in USDT... muh familia, not even funny. Legit missed out all the profits: DeFi, BTC, everything. But now I am here to buy the top and get rekt!

DeFi is a more sustainable pyramid 🗻 if a pyramid at all.

It's good to note that DeFi has organic demand and a user base which actually pays fees, so despite being bloated - it has a bottom floor and legitimacy. Some OG chats called DeFi the top a long time ago, but remember that YouTube is just coming around to it, while normies are still buying ADA in Chinese onion villages - so, who knows. Just make sure not to go all-in, degenerates.

Staking is growing 📈 What's next for staking?

The staking industry is not stopping at all. Here is a more elaborate report and analysis on pros and cons of staking as an economic mechanism: https://lobsters.substack.com/p/there-aint-no-such-thing-as-free. So what do you do when some industry is booming? You make new services and solutions for it, capturing all its users. That's what Stafi is doing for staking.

The new asset class in DeFi 💧 liquid staking derivatives.

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. FIS is the native token on Stafi Chain. FIS is required to provide security to the network by staking, pay for transaction fees on the Stafi chain, mint & redeem rTokens.

Kind of like if you lock your Dai over the bridge to issue xDai. In the future, the market will do its thing, with extra products, derivatives, and other products in the ecosystem.

Ivan, fuck your fundamentals 🚀 what are the pumpamentals?

First of all, it's actually a cool product. It's not too easy to make, and the staking-lending derivatives are a very security-sensitive thing. The galaxy brain Tarun Chitra (https://arxiv.org/pdf/2006.11156.pdf), reports by Chorus One (https://mirror.chorus.one/liquid-staking-report.pdf), and many more. The liquid staking debate has been going for quite a while actually, there is a lot of noise and research in that area. If you see some cool links - shoot them in the chat.

🎯 Polkadot: Stafi is actually building on Substrate, as a parachain to Polkadot. Stafi received the grant and the support of Web3, helping Polkadot tap into DeFi. It doesn't mean that Stafi is restricted to the Polkadot ecosystem, it just rolls on the narrative and hype, while building its core blockchain on it. It will tap into Cosmos, Tezos, etc. later on. In fact, its non-incentivized testnet is in top-5 of active ones already after only a couple of days: https://telemetry.polkadot.io/#list/Stafi%20Testnet%20Seiya
🦄 DeFi supported by CEX: Stafi will be supported by BitMax liquidity and user base, giving a huge head start with its AUM once the contracts go live. That's an insane boost to any new project - an existing audience. More: https://medium.com/stafi/an-ama-on-staking-derivatives-by-bitmax-stafi-12412c0ca8
📈 Burning FIS token: a burning mechanism for fees paid with Stafi protocol usage. This P/E, burning cashflow idea sticks well with communities.
🐦 Unique staking audience acquisition. There will be dedicated lockdrop-style campaigns for different blockchains, that's a super strong user acquisition model. Stay tuned!

PS: I got a bag a couple weeks back, so obviously I want to see it moon. The final valuation is far below the DeFi crazy hype approx 10M, and the initial market cap will be way below 1M USD. I prefer projects with a very low start to have a better chance at showing returns for the early participants instead of starting at 50M. DYOR and check more in @stafi_protocol.