Integration with StaFi.io brings new opportunities for trading staked tokens
StaFi is the first DeFi protocol to unlock the liquidity of staked assets. Normally, people can lock a POS (Proof of Stake) asset in return for generating fees from the transactions on that asset’s blockchain. This benefits the chain since it provides security for the system. The drawback is that these staked assets are now stuck in the staking mode — rather than being liquid and easily tradable.
StaFi changes that by issuing a tradable rToken that one could exchange freely on any DEX or CEX where it is traded. The rToken/Token exchange rate will increase along with the staking rewards generated, thus the rToken holders could redeem more native tokens. The ‘r’ stands for “reward” — in essence, the rXYZ tokens are the reward version of the XYZ token that incentivizes people to stake through StaFi.
“StaFi adds value to staked tokens that were just sitting there before” notes DeXe Network’s Co-Founder, Dmitriy Kotliarov: “And traders will love the liquidity it gives their assets.”
“DeXe is the World’s first decentralized social trading platform designed to copy the best traders strategies. We are very excited about the future synergies between StaFi rTokens and DeXe,” said Young Liam, Founder of StaFi
Through their partnership with the DeXe Network, StaFi gets access to our traders and followers (and the volume of assets they bring). In turn, StaFi allows our traders (and followers) to use StaFi’s instruments to “double-dip” into staking assets for their normal staking awards (fee distribution) plus the benefit of having the rXYZ tokens to freely trade for speculative gains. This is another chance for the successful, seasoned traders that use the DeXe Network to demonstrate their skills and squeeze out more profit from each asset.
Already, you can use our Wallet-to-wallet Copying Interface to follow and copy interesting wallets. With the launch of our full platform and such integrations as the StaFi one, we believe that you will have at your hands the most powerful trading platform in DeFi.
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