rFIS could bring the following benefits for FIS holders:
1) Obtain an expected annualized 15% to 20% reward of FIS staking by holding rFIS.
Image for post
3) Much lower barriers to stake FIS. The staker does not need to learn the rules of NPoS nomination and how to maximize the best staking rewards any more. Now stakers can easily stake FIS through a few simple steps of rFIS products, which will help stakers to maximize the best rewards automatically.
rFIS token is a synthetic bond-like asset token and can be traded immediately without the need to wait for the 14 days of unbonding. rFIS represents your staked FIS funds plus earned staking rewards.
The differences between rFIS token and FIS token is demonstrated in the picture below:
ERC20 rFIS contract address:
ERC20 FIS contract address:
For example: If the number is 429,326,375,602,600,400, the rFIS actual amount is 429326.
Please note: the rBalances showed below is multipied by 10 to the power of 12.
Currently, only Polkadotjs extension supports that.
After Staking FIS, StaFi will automatically send rFIS to users, and the quantity will be calculated according to the current exchange rate. The user's staking principal and corresponding staking rewards will be anchored through rFIS.
The exchange rate of rFIS will update every 6 hours.
1) When rFIS products are launched, StaFi will establish rFIS/FIS trading pairs on DEX such as Uniswap and Balancer, and will also incentivize liquidity providers through FIS rewards.
2) StaFi has reached cooperation with some centralized exchanges that will also facilitate the trading of rFIS. That will help the circulation of rFIS in multiple centralized exchanges.
3) StaFi will not only support the circulation of rFIS on Ethereum, but also allow rFIS to be utilized in Polkadot and the Cosmos ecosystems through our cross-chain bridge services.
4) In addition to trading on CEX and DEX, rFIS can also be utilized in DeFi protocols, either used as collateral or being lent out to earn additional interests.
Yes, rFIS has passed the security audit conducted by top blockchain security team PeckShield. The contract audit report address is: https://github.com/stafiprotocol/stafi-bootstrap/blob/master/audits/rfis/peckshield-audit-report-stafi-node-v1.0.pdf
When a user stakes FIS, StaFi will automatically mint rFIS for the user, which is commission-free.
When the Staking succeeds, the validator will charge 10% of the staking rewards as a commission.