StaFiHub has developed a Liquid Staking SDK for Cosmos Eco projects to easily and quickly get their own liquid staking derivatives with very limited development and time costs.
If you use StaFiHub Liquid Staking SDK to develop your own liquid staking derivatives, all you need to do is:
1) Run the relayer nodes for the multi-sign address which receives the funds from the stakers.
2) Nothing else.
The Target Projects will get great priority when their Community (The Community) is willing to provide the following supports for StaFi:
1) Stake at least $0.5M USD valued tokens voluntarily to provide the initial minted rTokens; The staked assets are still owned by the staker； The staker will still earn staking rewards;
2) Provide at least $1M USD valued liquidity for the rToken/Token pair on any Target Chain DEX or StaFi’s rDEX; rToken/Token trading pair has very limited impermanent loss due to the rToken instrict value is gradually increasing over the base token; $1M USD valued liquidity will meet the basic liquidity demands for rToken holders; The Community could also initiate a liquidity mining program to bootstrap the liquidity.
3) Provide the PR and community education supports; The Community could offer some PR resources to jointly promote the new rTokens with StaFi, like Twitter retweets,newsletter, AMAs and other social media promotions.
4) Technical Grant to cover the deployment cost; A basic technical grant for StaFi Core to cover the deployment cost. If the four conditions are not met, the application will have low chances to be accepted and will be filed into the waiting list until the conditions are met one day.
1) Add some necessary configuration information for the new rToken, such as denomination and its metadata, pool account and its sub-accounts, unbond-commission, relay-fee, relay-fee-receiver, etc. These parameters should be decided after consultation by both teams.
2) Run relay services
Relay service acts as a cross-chain bridge, connecting StaFiHub and the target chain. The number of relay services should be the same as the number of sub-accounts of the multisig pool account. For security, relay services should be run by as many teams as possible, including StaFiHub, target chain, and their respective communities.
3) StaFiHub will provide detailed documentation about how to run a relay service, usually the target team does not need to do any development on the relay service code, just modify the configuration information, unless the staking mechanism of the target chain is fundamentally different from other Cosmos-SDK based chains. StaFiHub provides a DApp for users to interact with which is also open for the target chain to do some customized logic and design based on the DApp, of course, they can also design their own.
The target chain should also be based on Cosmos-SDK and allow users to stake. It’s not necessary but better to support IBC cross-chain transfers.
It is a good idea to contact the StaFi team before deploying a new rToken, as there are some parameters and multi-signature accounts that need to be set by both teams.
Yes, because part of the rToken protocol code runs on StaFiHub in the form of modules.
Yes, both our SDK and frontend modules can be forked. But it should also be clarified that part of the code for the rToken protocol is in modules on the StaFiHub chain.
For security purposes, it is best to have the sub-accounts of the multi-signature account to be held by multiple parties which at least contains StaFiHub and the target chain. Our recommended configuration for multi-signature accounts is 4/7. It’s not upgradable as Cosmos-SDK's multi-signature account does not support upgrades.
StaFi Foundation will provide several public RPCs of which the usage will be high and thus affect the stability, therefore, we suggest that the target chain run the nodes themselves, or cooperate with other validators and node service providers in the network.
Under audit. The audit report will be uploaded to the github public repository after it's completed.
After a new rToken is deployed, StaFi Foundation would create corresponding trading pairs such as rToken/Token and add initial liquidity on rDEX.
StaFiHub is a parallel chain based on the Cosmos SDK and serves the Cosmos Eco Staking Derivatives.It has the following features:
1) It‘s an application chain serving the Cosmos ecosystem Staking Derivatives.
2) The IBC cross-chain protocol is supported. The tokens in the Cosmos ecosystem can be cross-chained to StaFiHub through the IBC protocol, and all the rToken assets on the StaFiHub can circulate in the Cosmos ecosystem through the IBC protocol. 3)The tokens in the Cosmos ecosystem can directly mint out StaFiHub-based staking derivatives.
3) General liquid staking solutions for Cosmos SDK projects are opened to encourage the Cosmos community to develop staking derivatives.
4) The StaFi team will build a cross-chain bridge between StaFi Chain and StaFiHub to support the exchange of rTokens between the two chains.
The relevant commission and fee parameters in StaFiHub App are following:
1) Stake: There is no commission for StaFi but please make sure enough commission for sending tokens in your account.
2) Unbond: Users need to pay a 0.2% redemption fee(based on the amount of unbounded rTokens and 1 FIS for the Relay Fee.
No, after completing the "Redeem" operation, users will wait for around 1 day to get the redeemed tokens, which will be automatically sent to the users’ designated account after the lock-up period.
Based on the native token amount, there will be no impermanent loss for the provided initial liquidity.
Let’s use IRISnet and rIRIS as an example. There will be the following two main scenarios:
1) Under most scenarios, IRISnet Foundation will get both more IRIS tokens and rIRIS tokens compared to the initial liquidity deposit, because they will earn swapping fees and the rIRIS token price will be closer to the on-chain exchange rate against IRIS token.
2) Under extreme circumstances, the rIRIS against IRIS token price on rDEX might have a big difference with the on-chain exchange rate. Therefore, the IRISnet Foundation will either get more IRIS tokens or more rIRIS tokens in the end. One should know that IRISnet could always redeem more IRIS tokens by burning the rIRIS tokens from StaFiHub contracts. Moreover, they could arbitrage on this exchange rate gap between rDEX and on-chain contracts to earn more IRIS tokens.
rToken’s liquidity on the decentralized exchange is very important. With high liquidity, the rToken solution will get more users and adoptions. Based on our past experience, it will satisfy the rToken holders’ trading requirements if the initial liquidity pool for the rToken exceeds 1M $USDT.
We suggest that you provide the initial liquidity support for at least 6 months. During these 6 months, StaFiHub will actively improve rToken’s adoption and trading pool’s liquidity by different kinds of incentive campaigns.
After the initial 6 months, you are free to withdraw your liquidity from the trading pool.
When the Foundation (The Foundation) of the target project in the Cosmos Eco agrees to provide the initial liquidity support, StaFiHub will share 1%~7% commission of the protocol fee charged by StaFiHub on corresponding rToken liquidity as a grant for the Foundation.
The commission rate will increase based on the liquidity amount provided by the Foundation in the following regular scheme:
1) Above 1.5 M Liquidity for 6 month: 7%
2) 1.5 M Liquidity for 6 month: 6.5%
3) 1M Liquidity for 6 month: 6%
4) 0.8M Liquidity for 6 month: 5%
5) 0.6M Liquidity for 6 month: 4%
6) 0.5M Liquidity for 6 month: 3%
7) 0.2M ~ 0.4M Liquidity for 6 month: 2%
8) 0.1M~ 0.2M Liquidity for 6 month: 1%
The commission rate may also change based on other factors like the support period, PR and BD support from the Foundation, etc. The liquidity amount is the most important influence factor here. StaFi Core will review all the real circumstance and operation situations of the Grant Program regularly and change the commission rate scheme accordingly. Of course, we will release it beforehand to our community and the stakeholders.
This will negatively impact the corresponding rToken solution. This behavior also breaches the agreement between StaFiHub and The Foundation.
Therefore, we will have to cancel the Initial Liquidity Grant immediately for the Foundation, which means StaFiHub will no longer be able to share the protocol fee commissions with The Foundation.
Yes, it will change proportionally. When the initial liquidity is withdrawn by The Foundation after the end of the 6 months period, the shared protocol fee will decrease proportionally.
For example, if 20% of the deposited liquidity is withdrawn after the Agreed Period ends, The Foundation can only share 4%*(1-20%)=3.2% of the Protocol Fee from the time of withdrawing the 20% liquidity.
The protocol fee commissions will be calculated each month. StaFi foundation will calculate the commissions for The Foundation based on the on-chain protocol fee on the corresponding rToken and related commission on agreement.
The StaFi Foundation will share related on-chain data and calculations on the 30th of each month to get confirmation from The Foundation. After receiving the confirmation, StaFi Foundation will send the commission to the Foundation’s receiving address.
All the commission information will also be made public each month to the StaFi and the StaFiHub community.
Yes, The Foundation can also choose other DEXes, including Osmosis, Sifchain, Juno or Crescent, to provide the initial liquidity for corresponding liquidity. We suggest that The Foundation choose rDEX to provide the initial liquidity because StaFiHub will sponsor the incentives for the liquidity providers on rDEX.