Injective has reached a cooperation with StaFi to use Substrate to realize new Staking and Farming benefits
We are excited to announce a new partnership with StaFi, a Substrate-based DeFi protocol for collateralizing derivatives to unlock liquidity in assets. This partnership will create more new opportunities for Injective and StaFi, as well as the entire DeFi community, and we hope to continuously introduce new forms of staking on our DEX. This also helps to further expand our technical integration with Polkadot.
Today, the demand for decentralized derivatives markets and collateralized assets is growing rapidly. StaFi capitalizes on this growing market demand by offering consumers the ability to liquidate their holdings, earning returns while hedging against market volatility. This process is carried out through StaFi's reward token (rToken). When users participate in PoS token pledge through StaFi, they will receive the corresponding number of rTokens as credentials. For example, rINJ could mean staked INJ. rToken allows users to obtain staking rewards and asset liquidity at any time by trading in the secondary market. Users also have the right to redeem the corresponding amount of pledged tokens at any time.
It is conceivable that StaFi's technical design can help Injective users get more benefits from DEX than ever before. Users can not only conduct derivatives market transactions on Injective, but also gain additional income by unlocking the pledged INJ tokens in the future.
We plan to jointly explore the following collaboration opportunities:
1. Staking Derivatives
We plan to introduce StaFi's staking derivatives function to Injective DEX, so that pledged assets are also liquid. This additional liquidity can provide traders with avenues to earn higher yields by interacting with other DeFi protocols.
2. Release the pledged INJ token liquidity
As mentioned above, StaFi could unlock additional liquidity for INJ tokens in the near future. In this way, users can not only pledge INJ, but also obtain additional income by using rToken farming. This could help reduce the competition that current DeFi enthusiasts face when deciding whether to stake their tokens or use those tokens to participate in DeFi yield generation.
3. Further collaboration with Polkadot and Substrate communities
We recently announced that we will integrate the Polkadot network so that assets on Polkadot can be easily traded on Injective. One of Injective's main goals is to enable fully decentralized cross-chain derivatives trading. StaFi will further expand our potential to work with the Polkadot and Substrate communities. At the same time, we plan to use StaFi's native token FIS built on Substrate to create a new market. This will enable StaFi investors to use FIS to trade on a new derivatives market.
The StaFi team is excited about the potential of this partnership, with their CEO Liam Young saying:
“We are excited to partner with Injective and add our native token, FIS, to its DEX. This collaboration will bring a new wave of synergy between Injective and StaFi, and we will be able to grow and scale together. We look forward to working together on staking and The DeFi industry explores new opportunities."
StaFi's ecosystem will expand rapidly as more and more users start staking and participate in the FIS token mining program. Through this partnership, StaFi will be able to increase its scaling speed and expand its user base.
"We are excited to be a part of StaFi's journey, especially as it helps us deepen our collaboration with Substrate. This partnership will not only enhance Injective's mission to enable truly decentralized cross-chain transactions, but also DeFi Overall flexibility and operability," said Eric Chen, CEO of Injective Protocol.
About StaFi
Injective Protocol is the world's first Layer2 derivative DEX. Injective's peer-to-peer decentralized derivatives protocol can realize fast and safe perpetual swaps, futures, leverage and spot transactions on Ethereum, and integrates a verifiable delay function (VDF) to prevent transaction cheating and decentralization of bad transactions transaction agreement. Injective has received support from many institutions, including Pantera Capital, one of the world's top cryptocurrency venture capital firms, Binance, a leading cryptocurrency exchange, and Hashed, South Korea's largest blockchain fund.
About Injective Protocol
Injective Protocol is the world's first Layer2 derivative DEX. Injective's peer-to-peer decentralized derivatives protocol can realize fast and safe perpetual swaps, futures, leverage and spot transactions on Ethereum, and integrates a verifiable delay function (VDF) to prevent transaction cheating and decentralization of bad transactions transaction agreement. Injective has received support from many institutions, including Pantera Capital, one of the world's top cryptocurrency venture capital firms, Binance, a leading cryptocurrency exchange, and Hashed, South Korea's largest blockchain fund.
