In July 2021, StaFi won the grant from Polygon foundation, the first well-structured and easy-to-use platform for Ethereum scaling and infrastructure development.
This fund will be used for the research and development of rMATIC, the Polygon network liquidity staking solution provided by StaFi. Moreover, Polygon foundation will also give the technique and adoption support for rMATIC.
rMATIC is a liquidity solution to solve the Polygon mainnet token MATIC staking. Users could stake MATIC token through StaFi rMATIC to get rMATIC token which is a synthetic staking derivative issued by StaFi to users when they stake MATIC through StaFi rMATIC product. rMATIC tokens are anchored to the MATIC assets staked by users and the corresponding staking rewards. rMATIC tokens can be transferred and traded at any time.
In addition, StaFi will do its best to create application scenarios for rMATIC token, such as trading on Uniswap or QuickSwap anytime and anywhere, yield farming, and lending. At the same time, rMATIC solution can improve the staking rate and enhance security for the Polygon network.
The Grant from Polygon foundation could help rMATIC solution reach a wider range of users in the Polygon ecosystem to expand the user base for future development. StaFi will also better cooperate with the other projects of Polygon ecosystem and promote Polygon DeFi prosperity and growth.
For more information, check out: https://www.youtube.com/watch?v=n-2Az0kmSsY
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 450+ Dapps, ~350M txns, and ~13.5M+ unique users.
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. rToken is a synthetic staking derivative issued by StaFi to users when users stake PoS tokens through StaFi rToken App. rTokens are anchored to the PoS tokens staked by users and the corresponding staking rewards. rTokens can be transferred and traded at any time.
Source : cryptodaily.io