WrapFi Integrates with StaFi to Explore on Interest-Bearing Tokens

WrapFi and staking derivative protocol StaFi have teamed up to make their networks and assets more fully compatible with each other. StaFi (short for “staking finance”) is a DeFi protocol aimed at unlocking the liquidity of staked assets in PoS projects. StaFi’s system design introduces a staking voucher token called rToken, which is one kind of interest-bearing tokens.

This partnership unlocks the Two following user scenarios:

Joint Exploration in IBT DEX

WrapFi will cooperate with StaFi on exploring how to build a most-friendly DEX for Interest-bearing Tokens (IBTs), like jointly studying the price discovery mechanism of IBTs in current DEX and real exchange rate of the IBTs on original chain. We will leverage both sides’ expertise and experiences to make WrapFi Deisgn perfect for IBTs.

rTokens Integration in WrapFi

WrapFi is built for trading IBTs, and StaFi now has issued 5 IBTs(rETH, rFIS, rKSM, rDOT, rATOM), which cover the main PoS communities. So WrapFi will integrate StaFi’s rTokens as the first batch of IBTs on WrapFi. At the same time, StaFi will give advice on the strategic devlopment and community buiding of WrapFi.

WrapFi’s vision is to propose a universe solution for all mainstream IBTs through TMM algorithm, which will provide general standards, horizontally scaling somutions, and better pricing mechnism and trading liquidity for IBTs. In the future, WrapFi also will launch more IBT-based Apps, like management tools, etc., which will greatly improve capital utilization efficiency for IBTs community.

About StaFi Protocol

StaFi is the first DeFi protocol unlocking liquidity of staked assets. Users can stake PoS tokens through StaFi and receive rTokens in return, which are available for trading, while still earning staking rewards. FIS is the native token on StaFi Chain. FIS is required to provide security to the network by staking, pay for transaction fees on the StaFi chain, and mint & redeem rTokens.

About WrapFi

WrapFi is the first specialized DEX for Interest-Bearing Tokens(IBTs) powered by TMM algorithm. Price discovery of IBTs on the current AMMs or PMMs not works well, and there always exsits a huge gap between the trading price on DEX and the real exchange rate. WrapFi creates an innovative Tracking Market Maker (TMM) algorithm to provide the most stable price and sufficient liquidity for IBTs.

Website: https://wrapfi.io/
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