When was the StaFi (FIS) coin issued?

The StaFi (FIS) coin, a utility token for decentralized staking services, was issued on October 12, 2021.

Jan 07, 2025 at 03:42 pm

Key Points

• StaFi (FIS) coin was issued on October 12, 2021.
• FIS is a utility token for the StaFi protocol, which provides decentralized staking services for PoS assets.
• The token can be used for staking, governance, and other network activities.

When was the StaFi (FIS) coin issued?

The StaFi (FIS) coin was issued on October 12, 2021. The token sale raised $1.5 million from investors including HashKey, IOSG Ventures, SNZ, Fundamental Labs, and Kronos Research.

What is the StaFi protocol?

The StaFi protocol is a decentralized staking platform that allows users to stake their PoS assets without losing liquidity. The protocol is built on the Substrate framework and uses a dual token system. FIS is the utility token, while rTokens are synthetic assets that represent staked assets.

How does the StaFi protocol work?

The StaFi protocol allows users to stake their PoS assets by creating a "staking pool." The staked assets are then used to validate transactions on the blockchain and earn staking rewards. Stakers receive rTokens in return for their staked assets, which can be used for trading, lending, or other DeFi activities.

What are the benefits of using the StaFi protocol?

There are several benefits to using the StaFi protocol, including:

• Increased liquidity: Stakers can earn staking rewards without losing liquidity, as they can trade or lend their rTokens.
• Lower risk: The StaFi protocol uses a decentralized staking pool, which reduces the risk of slashing.
• Convenience: Stakers can manage their staked assets through the StaFi wallet, which provides a user-friendly interface.

What is the future of the StaFi protocol?

The StaFi protocol is still under development, but it has the potential to revolutionize the way that PoS assets are staked. The protocol is currently supported by several major exchanges, including Binance, Huobi, and OKEx. The team is also working on adding support for new PoS assets and developing new features for the protocol.

FAQs

What is the difference between FIS and rTokens?

FIS is the utility token for the StaFi protocol, while rTokens are synthetic assets that represent staked assets. FIS can be used for staking, governance, and other network activities, while rTokens can be traded, lent, or used for other DeFi activities.

How do I stake my PoS assets on the StaFi protocol?

To stake your PoS assets on the StaFi protocol, you will need to create a staking pool. You can do this by depositing your assets into the StaFi wallet and selecting the "Staking" tab. You will then need to choose a staking pool and specify the amount of assets that you want to stake.

Can I earn staking rewards without losing liquidity?

Yes, you can earn staking rewards without losing liquidity by using the StaFi protocol. When you stake your assets on the StaFi protocol, you will receive rTokens in return. These rTokens can be traded, lent, or used for other DeFi activities.