Cosmos Ecosystem rTokens? — What StafiHub is trying to do
For over three years, StaFi protocol has been in the business of providing staking service for their many customers as they try to bring more value to the proof of stake. With time, they have revolutionised the art of staking by giving us liquid staking on a platter. This is done by giving users who stake on StaFi protocol staked representatives of their staked assets. These staked representatives are known as rTokens. These rTokens are replicas of the staked assets that ensures that the users assets remain liquid . You can trade, borrow, lend and use the rToken for many different processes by providing liquidity in decentralized exchanges. StaFis ecosystem of ‘staked derivatives is fast-growing and currently includes eight proof-of-stake projects. These are Binance (BNB), Ethereum (ETH), StaFi (FIS), Solana (SOL), Cosmos (ATOM), Polkadot (DOT), Kusama (KSM) and Polygon (MATIC).
All eyes are currently shifting to the Cosmos ecosystem though.
The Cosmos ecosystem is trending so hard that while many other projects tanked in this brief bear period, the hype around the Cosmos ecosystem remained as many of the projects kept driving.
It’s hard to say you missed out on the JUNO hype or the plethora of airdrops raining down on a daily basis for the cosmos community. Cosmos season is here to stay and it is really great to see that StaFi protocol is poised to take it by storm. So far, there is liquid staking solution for one Cosmos-based asset (ATOM). With StaFi, we hope to see more but how would this work? That’s where StaFiHub comes into play.
StaFiHub is a StaFi protocol platform that would help bring liquid staking solutions for Cosmos ecosystem tokens. You’re looking at a project built on the Cosmos SDK (an application specific platform) with the aim of bringing adoption of liquid staking into the Cosmos ecosystem.
We could be seeing staking derivatives for the likes of Terra (LUNA), Sifchain (ROWAN), Osmosis (OSMO), Irisnet (IRIS), Thorchain (THOR), Injective (INJ), Juno (JUNO), Axelar (AXL), Persistence (XPRT) among others. Just like many Cosmos projects, StafiHub would be IBC enabled meaning that you can have easy transfer of assets between these Cosmos-based projects and the StafiHub platform. Cosmos is built on interoperability and we would get it with StafiHub. This interoperability would not just end there as there would be a cross-chain bridge to bridge StafiHub to StaFi Protocol. In essence, we are seeing the StaFi chain linking with the Cosmos ecosystem through the cross-chain bridge and IBC.
Keep your eyes on the lookout as we explore this intergalactic community of blockchains that is Cosmos with StafiHub.
StaFi website: https://stafi.io
StaFi Twitter: https://twitter.com/stafi_protocol
StaFiHub Twitter: https://twitter.com/StaFiHub_