What Is Stafi (FIS)
Stafi (the name stands for Staking Finance) is the first DeFi protocol that unlocks the liquidity of staking assets. But how? Stafi allows you to stake cryptos in its pool and, in return, it provides you with tokens that are actually crypto assets you are holding. So, although until now you could not trade cryptocurrencies with staking, some were even blocked for 28 days, such as Polkadot, now, thanks to Stafi and itstokens, which are your coins, you can trade those cryptos and earn passive income.
Stafi is the first protocol that unlocks the liquidity of staked assets, while they generate commissions or passive income
How Does Stafi Work?
Stafi users get liquidity from currencies that stake in the pool and therefore can trade them. How is that possible? With rToken, where “Token” actually means the staking crypto you want to trade, and “r” stands for reward. These are actually tokens that Stafi provides you for your staking coins. If, for instance, you stake 20 Polkadot’s DOTs in a pool, Stafi will give you 20 rDOTs, which you can then withdraw while generating around 8% annual return by staking.
Stafi (FIS) Price
How much does a Stafi token (FIS) cost? Here is a chart with the Stafi price or market value.
LEARN MORE ABOUT STAFI (FIS)
What Is Staking?
Staking is an alternative system to mining that requires fewer resources. While mining requires a computer with specific software, in stakingit is enough to have a node with cryptocurrencies to continue generating blocks. Basically, staking consists in keepingassets in a crypto wallet. This supports the blockchain operations, as well as your security.
Besides, with staking, you delegate the “power of stake” of your crypto assets to a validator, who is responsible for generating blocks on the network. Based on these blocks, they get a commission that is then shared among those who gave them their power of stake.
Which Kind of Network Does Stafi Use?
Stafi works in Polkadot network, taking the form of parachain. For more information about Polkadot network or parachains, see What Is Polkadot.
Hardware Wallets for Stafi (FIS)
We encourage you to use a hardware wallet (a physical crypto wallet) to keep your Stafi (FIS) tokens safe. This is the safest option, not only because it is physical (which keeps the key away from the web), but also because, in addition, you are very unlikely to lose it, as it may easily happen to apaper wallet, which is just a piece of paper with the keys written on it. Therefore, you will never regret investing into a hardware wallet. We recommend you using Ledger and Trezor, both coming in two versions. For more information, please see our Hardware Wallets page.