Stafi (FIS)

Staking and Liquidity

Stafi is a decentralized protocol that lets users stake their Proof-of-Stake (PoS) tokens and receive liquid staking derivatives called rTokens in return. These rTokens represent the staked assets and can be freely traded or used in other DeFi applications while still earning staking rewards.

Token Utility

The native token, FIS, is used for staking to secure the network, paying transaction fees, minting and redeeming rTokens, and participating in governance decisions on the StaFi platform.

Cross-Chain and DeFi Integration

Stafi supports multiple PoS blockchains and enables cross-chain staking derivatives. This allows users to unlock liquidity from their staked assets and use them across different blockchain ecosystems, including Ethereum and Polkadot.

Use Cases of rTokens

rTokens can be traded, lent, or used as collateral in DeFi protocols, providing flexibility and additional earning opportunities while maintaining staking rewards.

AI and Automation

StaFi aims to empower users with AI-driven insights and automation to optimize staking strategies and make liquid staking more accessible and efficient.

Pros

• Stafi unlocks liquidity of staked assets by issuing tradable rTokens, allowing users to trade while still earning staking rewards.
• It supports multiple Proof-of-Stake (PoS) blockchains and plans to add more, increasing flexibility.
• The protocol is decentralized and scalable, enhancing security and performance.
• Stafi uses AI-driven tools to help users optimize staking strategies.
• It offers a unique solution to the common problem of staking assets being locked and illiquid.
• The native FIS token is used for network security, transaction fees, and minting/redeeming rTokens.
• Stafi has a growing ecosystem with integrations on popular wallets like MetaMask and Polkadot.js.

Cons

• Stafi’s price has shown volatility and underperformance compared to some other Ethereum ecosystem tokens recently.
• The protocol and its token are relatively new and less widely adopted than some major staking platforms.
• Some community debate exists about the security level of liquid staking derivatives.
• Users need to manage multiple wallets or extensions depending on the rToken they hold.
• Market liquidity and trading volume for FIS can be lower compared to top cryptocurrencies, which may affect ease of trading.

For more details, visit Stafi's official website.

Founders

Stafi was founded by Liam Young and Tore Zhang in 2019.

• Liam Young is recognized as a co-founder.
• Tore Zhang is a software engineer with experience at Alibaba and blockchain development.

These two started Stafi to create a decentralized staking platform that unlocks liquidity for staked assets.

Institutional Investors

Stafi has raised funding from two main institutional investors: Continue Capital and ZBS Capital.

Other Known Investors

Additional investors involved in Stafi include Woodstock and TRG Capital. Other notable backers mentioned in various sources are LD Capital, B-Tech, Focus Labs, Spark Digital Capital, and the Web3 Foundation.

Summary

• Continue Capital
• ZBS Capital
• Woodstock
• TRG Capital
• LD Capital
• B-Tech
• Focus Labs
• Spark Digital Capital
• Web3 Foundation

These investors support Stafi's development as a decentralized finance protocol focused on liquid staking solutions.

Halal Status of Stafi

• Yes, Stafi is generally considered halal by Islamic finance perspectives because it operates as a decentralized staking protocol that issues staking derivatives (rTokens) without involving interest (riba) or prohibited activities.
• It supports Proof-of-Stake networks, where users earn rewards by helping secure the blockchain, which many scholars view as permissible since the rewards come from network participation rather than lending or interest.
• However, as with all cryptocurrencies, individual due diligence and consultation with a qualified Islamic scholar are recommended to confirm compliance with personal beliefs and specific Shariah interpretations.