rKSM FAQ

1.Does rToken app support to connect Ledger device?

No. rToken app does not support Ledger. Please remember not to connect APP using Ledger, otherwise your assets will be lost.

2.Why to participate in KSM staking with rKSM App?

1) There will be no need to wait for a long 7-day unbonding period to transfer or trade staked KSM tokens. rKSM App users can transfer and trade the staking voucher rKSM token at any time to enjoy liquidity and hedge price risks.

2) There is no need to learn the complicated NPoS consensus mechanism of Kusama and staking reward calculation rules any more. With rKSM App, users only need a few simple steps to deposit KSM into the rKSM contract, which will automatically select the best validator by executing the Staking Reward Maximization strategy algorithm.

3.How to stake KSM on rKSM App?

Please follow this guide to stake KSM: https://docs.stafi.io/rtoken-app/rksm-solution/staker-guide

After staking KSM through the rKSM App, the user will automatically get the staking voucher rKSM tokens. The amount of rKSM a user could get is calculated on the amount of staked KSM and the rKSM/KSM exchange rate then. rKSM tokens are anchored to the KSM assets staked by users and the corresponding staking reward. rKSM tokens can be transferred and traded at any time at the users’ convenience.

4.Which wallets support the staking of KSM by connecting to the StaFi rKSM App?

Currently, only PolkadotJS extension supports that.

Chrome: https://chrome.google.com/webstore/detail/polkadot%7Bjs%7D-extension/mopnmbcafieddcagagdcbnhejhlodfdd

FireFox: https://addons.mozilla.org/en-US/firefox/addon/polkadot-js-extension/

5.What's the contract address of ERC20 rKSM?

0x3c3842c4d3037ae121d69ea1e7a0b61413be806c

6.How to obtain ERC20 rKSM?

You could use rBridge to swap Substrate KSM to ERC20 KSM. Here is the Guide: https://docs.stafi.io/rtoken-app/rasset/swap-guide/rksm-swap-guide

7.How to calculate the exchange rate of rKSM?

When a user deposits KSM into the rKSM contract, StaFi will calculate the amount of rKSM which has to be issued to the user based on the current exchange rate between the amount of KSM deposited and rKSM. When a user holds rKSM, StaFi will calculate the amount of redeemable KSM based on the real-time staking income of KSM.

The rKSM exchange rate Ci grows with the increase in Staking income. It is determined by the total number of KSM locked in the staking contract Qstk, the total number of redeemed KSM Qred, the number of staking rewards Qrew, the number of slash Qslh, the commission rate Rcom, the total number of rKSM issued M, and the total number of burnt rKSM N. The calculation formula is as follows:

8.What are the circulation scenarios of rKSM?

StaFi will create rich, multi-level circulation scenarios that stretch across different chains for holders of rKSM :

1) When the rKSM App is live, StaFi will establish rKSM/ETH and rKSM/KSM pairs on DEX such as Uniswap and Balancer, and organize liquidity mining incentive campaigns.

2) StaFi will not only support the circulation of rKSM in the ETH ecosystem but also empower KSM engagement in the DeFi protocol of Polkadot and Cosmos through cross-chain bridge services.

9. Has the rKSM App code been audited?

The rKSM App code has been audited by Certik, a well-known audit institution. The audit report link:

https://github.com/stafiprotocol/stafi-bootstrap/blob/master/audits/REP-Stafi_Token_Relay-19_04_2021.pdf

10. What are the commission and fees when staking KSM?

The relevant commission and fee parameters in rKSM App are following:

1) Stake KSM: There is no commission but a service fee, called Relay Fee, for the Relay bridge is required. The Relay fee is paid in StaFi mainnet FIS token(1.5 FIS for now) and for the related gas fee coming from the bridge service contract interaction .

2) Unbond KSM: Users need to pay a 0.2% redemption fee(based on how much rKSM tokens s/he want to unbond) and 10% Staking Reward Commission(based on the total staking rewards generated).

Check details:https://docs.stafi.io/rtoken-app/rdot-solution

11. Does the user need to manually withdraw unbonded KSM tokens?

After the user completes the "Redeem" operation, s/he has to wait for around 8 days to get the redeemed KSM tokens, which will be automatically sent to the users’ designated account after the lock-up period.

12. Can rKSM be used to participate in the Kusama Parachain auction?

No. Currently rKSM App only helps stakers to unlock Kusama staking liquidity. The KSM tokens staked by users will be delegated to the validators of the Kusama network to generate staking rewards, instead of participating in the Kusama parachain auction.