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Cryptocurrency News Articles
Stafi (Staking Finance) Reminds Its Community to Withdraw Liquidity from rDEX by February 28th
Feb 19, 2025 at 11:23 pm
Stafi has reminded its community to withdraw liquidity from rDEX by February 28th, as the migration of the StaFi Hub and rToken progresses alongside the adoption of StaFi LSaaS.
StaFi has urged its community to withdraw liquidity from rDEX by February 28th, as the migration of the StaFi Hub and rToken progresses with the adoption of StaFi LSaaS.
Users who hold tokens like rHUAHUA, rSWTH, or rIRIS are advised to unstake them after withdrawing liquidity before the specified deadline.
FIS Info
StaFi (Staking Finance) is the world’s first decentralized platform designed to cater to the liquidity problem in the staking process. The project is built on blockchain technology and implements several innovative solutions in the financial services domain.
Key features and aspects of StaFi:
rToken: A token that serves as a standard token for staking. When a user carries out staking through StaFi, they receive an rToken in exchange for the staked tokens. rToken can provide liquidity while the underlying token continues to be staked.
Liquidity in staking: A major pain point with staking is the unavailability of the staked tokens for trading or other transactions. StaFi enables users to work around this issue by providing them with rTokens that can be freely traded or utilized in other applications.
Security: StaFi employs several mechanisms to keep user funds secure, including a decentralized validation model and specific punishment schemes for dishonest validators.
Network Diversity: StaFi supports staking for multiple blockchain networks, such as Ethereum, Polkadot, Cosmos, and more.
The FIS Token is a native token of the StaFi platform that enables holders to participate in the governance of the ecosystem by voting on crucial proposals. The token serves multiple purposes, including being used as collateral for validators to secure the network, paying fees, incentivizing participants, and providing liquidity in DeFi applications.
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