StaFi

Staking

StaFi is a protocol that unlocks liquidity of Proof-of-Stake (PoS) assets through the concept of rTokens, which are tradeable assets that continue to earn staking rewards paid by blockchain validators.

Risk Rating
Good
Protocol Code Quality
Protocol Maturity
Protocol Design
Summary
What we like
StaFi abstracts away the challenges and risks around maintaining staking infrastructure by allowing users to delegate their Proof-of-Stake (PoS) assets to professional node operators.
What we like less
Staking with StaFi assumes greater security risks as the underlying smart contracts may be exploited. StaFi also charges higher fees relative to competitive offerings.
What it means for you
StaFi's liquid staking protocol is a solid platform for you to stake your PoS assets and earn rewards while remaining liquid.

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Information
Exploit/Hacks
None
Info
Key Metrics
  • TVL: $13.1M (Rank #133)
  • TVL Ranking by Staking: #0
  • Blockchain: Ethereum, Cosmos, Polygon, Binance, Solana, Stafi
  • Chain TVL
    • Ethereum: $10.55M
    • Cosmos: $1.97M
    • Polygon: $547.37K
    • Binance: $298.8K
    • Solana: $277.87K
    • Others: $7.97K
Risk Assessment
Good
Protocol Code Quality
  • Code reviewed by several experienced auditors; PeckShield audited in January 2021
  • Public team promotes accountability
  • No documented protocol hacks since launch
Protocol Maturity
  • Core protocol launched in 2022; maturity over one year minimizes technical risk as smart contracts are well battle-tested
  • Top 20% by total value locked slightly reduces risk
  • Multisig wallet controls protocol upgrades
  • Multisig consists of less than 4 signers, which makes the protocol more susceptible to centralization risks
  • No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
  • Low voting power concentration reduces risk
Protocol Design
  • No death spiral concerns
  • Robust controls to mitigate oracle price manipulation
  • This protocol is susceptible to risks related to staking a token to secure a network, such as slashing events
  • StaFi is a liquid staking platform similar to Lido where users can stake PoS tokens through StaFi staking contracts in exchange for rTokens
Things to know about StaFi

How StaFi works

StaFi allows users to earn staking rewards without locking assets or maintaining staking infrastructure. Users deposit their PoS assets into StaFi's smart contracts and receive rTokens in return that represent an active balance of the user's staked asset along with any staking rewards accrued or penalties inflicted on validators. Users can withdraw or redeem their rTokens back for their original PoS asset at any time, pending any unbonding period.

How StaFi makes money

StaFi generates revenue by charging a fee on the staking rewards earned by depositors. This fee includes the delegator fee paid to the underlying validators. As such, the protocol's revenue is driven by the fee charged, the amount of assets staked, and the yield earned by validators.

How you make money on StaFi

Passive holders can generate additional yield by participating in the PoS validation mechanism to earn block rewards. The unlocked liquidity with rTokens can also be used across DeFi to generate additional yield.

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