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Stafi (FIS) is a DeFi protocol aiming to unlock the liquidity of staked assets.
What is Stafi (FIS)?
Stafi (FIS) is a decentralized protocol that enhances liquidity. It consists of three layers: the underlying layer, the contract layer, and the application layer. The underlying layer is based on a blockchain system created by Substrate. The contract layer supports creating various services like staking contracts for XTZ, Atom, and DOT. Token holders receive incentives from staking. However, the difference here is that the token holder can also receive rToken. Finally, the application layer supports Stafi-based APIs and customized APIs for the circulation, transfer, and trading of rTokens within the Stafi protocol.
rToken stands for reward token. When users share their PoS tokens via Stafi, they will receive an equal amount of rToken. For example, rAtom represents staking Atom while rXTZ represents staking XTZ. Users can earn staking rewards and access liquidity by directly trading with rTokens. Additionally, users have the right to trade tokens in the staked amount at any time.
The Stafi protocol operates completely decentralized. Built on Substrate, Stafi shares Polkadot’s fundamental consensus. The main security and performance are guaranteed by Polkadot. FIS uses a distributed key storage protocol via multi-signatures to ensure the security of the staking address.
Any third party can conduct decentralized asset trading on the application layer using the Stafi protocol. All rToken exchanges share the details of the transaction.
Where to Buy FIS Coin?
FIS Coin can be securely traded on Binance, the world’s largest exchange by trading volume. Stafi Coin is traded on Binance in three different pairs: FIS/BTC, FIS/BUSD, and FIS/USDT. As of the time this guide was written, FIS is trading at around $1.29.
To purchase FIS Coin through Binance, you need to become a member of the popular cryptocurrency exchange. After membership, crypto or fiat currency is sent to the account wallet. If there is sufficient balance, one of the three pairs mentioned earlier is selected. Users who come to the trading interface can enter the desired amount in the quantity section of the limit part and place a buy order.
