Sirlibz
Injective Protocol has announced a new partnership with StaFi, a defi protocol that is built on Substrate for staking derivatives that unlocks the Liquidity of staked assets. This collaboration would allow Injective Protocol to introduce new forms of staking derivatives on their Decentralized Exchange (DEX) and help them to further expand in their integration with Polkadot.
Stakers who stake on the StaFi Protocol receive an equal amount of the POS tokens in reward-Token (rToken), StaFi rewards token.
Injective Protocol plans on working towards introducing StaFi’s staking derivatives into their DEX, this would allow staked assets to be liquid. This collaboration helps them expand more in the integration of polkadot, which would allow assets built on polkadot to be traded on Injective easily.
They plan to list and create new markets using StaFi’s native token dubbed FIS tokens which is built on Substrate. By doing this, holders and investors of StaFi can create and trade on new derivatives markets that utilize FIS.
“We are excited to be partnering with Injective and listing our native token FIS on their DEX. This collaboration will bring on a new wave of synergies for both Injective and StaFi as we will be able to grow and scale with each other. We are looking forward to exploring new opportunities with respect to staking, and the DeFi industry.”
This collaboration will help StaFi expand it’s staking pools and get more people to farm FIS tokens in the future, StaFi is sure to increase it’s adoption speed and reach quite soon.
“We are thrilled to be part of Stafi’s journey, especially as it helps us to deepen our collaboration with Substrate. This partnership will enhance not only Injective’s mission of truly decentralized cross-chain trading but also the flexibility and interoperability of DeFi as a whole.” -Eric Chen, CEO of Injective Protocol.
Injective Protocol
Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective Protocol enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choosing.
https://www.twitter.com/@InjectiveLabs
StaFi
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.
