An Analysis of the impact of the StaFi Accelerator Grant Program (SEAG)

Building a cryptocurrency project and attracting a fan base is not enough; promoting that project and retaining your community also matters.

If there is one project that has continued to provide its community with regular interesting updates, it is StaFi.

StaFi

StaFi, short for Staking Finance, is the first decentralized finance (DeFi) protocol that solves the dilemma between Mainnet security and token liquidity by unlocking the liquidity of staked assets. StaFi unlocks this liquidity by offering alternative tokens, popularly known as rTokens for staked assets.

The most exciting thing about the StaFi staking derivatives initiative is that these alternative tokens can be used for any decentralized finance feature, like borrowing, lending, and trading. At the same time, the staker still enjoys the staking rewards from the original chain.

For example, I am a user of the Tezoz project, and I decided to stake XTZ to get it liquidized by the StaFi protocol. What happens is that StaFi will provide a staking contract which, when staked with, I will get rXTZ for each XTZ I staked. My XTZ will remain staked in the Tezoz blockchain, but I can perform operations like trading, borrowing, or lending with rXTZ at specified networks. Fascinating idea.

StaFi’s Immense Growth

Since its inception, StaFi has grown beyond just unlocking liquidity of staked assets. Its base chain was built on Substrate’s sophisticated architecture to allow it to serve all the mainstream PoS projects. Today, it has added StaFiHub, built on the Cosmos SDK, and enables it to serve all the Cosmos ECO projects.

There are also application layers which consist of:

rToken App, which enables liquid staking for PoS chains

● rBridge for cross-chain transactions

● rPool for incentive programs

● rSwap for the exchange-rate discount solution

● Fee station for quick swaps to be able to use FIS token as the gas fee for transactions

rDEX, an Automated Market Maker(AMM) Decentralized Exchange (DEX) for a better rToken experience

The above are the major components of the StaFi ecosystem at the moment, and more are expected to come. As the StaFi team continues building, it reminds everyone that the StaFi ecosystem was built as an open protocol in which anyone from anywhere can participate fully and help promote the ecosystem.

On that note, the StaFi Foundation has decided to launch a new grant program called the StaFi Eco Accelerator Grant (SEAG) to reward and motivate projects, developers, and marketing firms that will put in efforts to help the StaFi ecosystem thrive.

StaFi Eco Accelerator Grant (SEAG)

For the expansion of its community, StaFi has previously launched two programs, namely, the Warrior Program and Validator Grant Program. These programs are launched to enable StaFi Ecosystem to reach a wider audience, and rightfully so, given how much it has grown since its inception.

These programs focus on funding product design, software development, and technical research efforts related to the StaFi protocol.

The SEAG program is open for application to everyone, and it is essentially divided into the following categories:

Ecosystem Projects: The Grant will be given to solid and technical projects that will provide value to the StaFi ecosystem.

Product Design: If you have a solid track record in DApp UI/UX design, you can apply for SEAG to fund your UI/UX design proposal for StaFi protocol DApps.

Technical Research: Liquid staking requires extensive technical study, including staking contracts, delegation algorithms, and security mechanisms. If you conduct a similar study, the StaFi Foundation will be delighted to assist you.

When you receive the SEAG grant, the StaFi Foundation will provide you with the following assistance:

  • Support for your ideas and efforts in the range of $5,000 to $50,000 in $FIS tokens.
  • The StaFi Foundation will give technical and research assistance as part of the grant.
  • The StaFi Foundation will also assist you in launching your project by providing joint Public Relations (PR) support.

How to Apply

You can submit your ideas in the following ways:

● On the StaFi DAO Forum, submit a proposal outlining your ideas and explaining why we should fund you

● Fill out the SEAG application form

It is advised that participants specify their ideas in the following format:

● A simple writeup that introduce your ideas and projects

● Specific value added to the StaFi ecosystem

● Why should the StaFi Foundation sponsor your proposal

● Funds Required

● Milestones achieved

● Contact information

The StaFi Core team will assess your application and provide feedback between 3 to 6 weeks through the StaFi DAO Forum.

Spring Design Studio

Following the StaFi Foundation’s assessment, they have decided to finance Spring Design Studio’s proposal for rToken App UI/UX design, which will be the first SEAG project to serve as an example for its community.

Spring Design is eager to present StaFi Technology (BVI) Ltd. with an outstanding UI/UX Design for the StaFi rToken App, which includes the following deliverable targets:

  • Redesign the current rToken App Pages following the previous wireframe version.
  • Expansion of the current wireframe to include new features.
  • Highlighting all of the rToken App’s features and making it as simple as possible for users.
  • The allowance of additional chains being integrated into the rToken App.
  • Increasing awareness by Upselling and Linking StaFi products.

Conclusion

StaFi is now an ecosystem with multi-layers. Each layer serves a unique purpose and onboard more users to the StaFi ecosystem.

To further expand the StaFi project, the SEAG Program will help put StaFi on the front page of crypto and blockchain’s most ambitious project.

Are you a developer, designer, or marketer looking to be seen or heard in the crypto space? Apply for the SEAG Program, and the StaFi Foundation will help you get the recognition you deserve.

Stay connected with the StaFi project using the Links below:

Official Website |*| Telegram || Medium |*| Twitter

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Helen IMAH

I’m a TECH Lover, Blockchain Enthusiast, Strategic Digital Marketer, Content Creator, Crypto Trader & Data Analyst…