SIF’s Bloom Program: The Liquidity Mining Program for StaFi’s rTokens
StaFi Protocol has continued to work behind the scenes since the launch of its staking contract; releasing many rTokens to support many PoS networks is proof of this as well as ensuring that users can effortlessly unlock the liquidity of their staked assets.
Over the last one year, the protocol has collaborated with many decentralized exchanges to build viable marketplaces for its numerous rTokens. Holders of these interest-bearing tokens can exchange them with the liquidity they require. Aside from DEXs, StaFi has teamed with other Defi projects to create a sustained staking process and provide liquidity.
StaFi has reason to be proud of its efforts as many of its collaborations have already yielded great outcomes. The open market trading of rTokens and the increased utility of rTokens is all the proof you need.
Last month, StaFi and Sifchain partnered to bring rATOM, the first liquid staking solution for ATOM, on the Sifchain DEX. As much as it is a significant step forward in the development of StaFi’s rATOM users, it also encourages the massive adoption of the StaFi rTokens.
Sifchain is one of the most exciting Cosmos Eco projects. It is the first decentralized exchange to connect the Cosmos network to the Ethereum blockchain. The DEX is a highly promising platform currently having a Total Locked Value (TVL) of about sixty million USDT.
Sifchain is the world’s first Omni-chain DEX, and it is fast, cheap, and integrates a wide range of blockchains. It’s built on the Cosmos SDK. It’s faster, offers more stable crypto economics for trade and security, more flexible trading capabilities, an expandable Omni-chain plan, and eventually real DAO governance. All of this is accomplished without losing decentralization. Sifchain is the DeFi of the future.
StaFi is the first DeFi system to allow staked assets to be liquidated. StaFi allows users to stake PoS tokens and obtain rTokens in exchange, which may be traded while still receiving staking rewards. When users stake PoS tokens through the StaFi rToken App, they receive rToken, a synthetic staking derivative produced by StaFi. Users’ staked PoS tokens and the related staking incentives are used to anchor rTokens. At any time, rTokens can be transferred and traded.
Integrations of rTokens into the Sifchain Bloom Program
When The StaFi Protocol partnered with Sifchain, the first rToken to be listed on Sifchain was rATOM, the synthetic staking version for the ATOM. This brought about the accessibility of the rATOM/ROWAN trading pair on the Sifchain DEX. As a result, users can exchange their rATOM for ROWAN and vice versa.
Aside from the increased benefits of exchanging the rATOM/ROWAN trading pair, there’s an interesting benefit to this alliance; Liquidity mining of ROWAN, the Sifchain’s native coin, is available to rATOM holders.
Users who participated in the Sifchain Bloom Program earned ROWAN at an insane APY of 65178737.90 percent during the campaign. That APY, of course, didn’t last forever, it ended November 14 as stipulated in the guidelines. Those that provided liquidity to Sifchain, during the campaign got a bonus pool as well.
Sif Expansion Liquidity Mining Campaign
Following the success of their relationship, StaFi and sifchain also jointly launch Sif’s Expansion liquidity campaign for rATOM holders, in which users that supply liquidity for the $ROWAN/ $rATOM pool would receive a 100% APY.
This is a huge opportunity for those that missed the first liquidity campaign to participate and deposit their rATOM. According to the program’s details, Sifchain aims to uphold a 300 percent Total APR across 5 pools. The pools can only be halted with respect to any of the following events:
● When Margin Trading is released,
● The community decides to end the program via a monthly vote, or
● The program needs to be halted (due to market and/or economic conditions).
Throughout the program, ROWAN:ATOM will keep a 300 percent APR. Every month, the community will vote to determine which of the other four pools will receive the 300 percent APR for the next month. These pools therefore may be subject to review from month to month because the vote occurs every 4 weeks. For the length of the promotion, all other pools will have a 100% APR.
The community will vote every month until Margin Trading is available on whether to extend, amend, or terminate this inflated liquidity mining program. The community will be able to see previous inflation and pricing fluctuations and project the same data points into the future.
What Every Participant Should Know
1. Users should note that there will be no vesting restrictions on the prizes received through this program during its initial implementation. But the team will be adding a time-specific vesting plan that rewards customers who keep their incentives pooled for extended periods of time. This is as a result of time constraints, the desire to provide incentives after Sif’s Bloom expires, and other team priorities such as Margin Trading, etc.
2. With regards to the 300 percent total APR for primary pools and the 100 percent APR for all other pools, analysis will be taken to see if they can be realized through a combination of exchange costs, incentives from other initiatives, and inflation. Any APR not produced by exchange fees or rewards from other pools would be covered by inflation.
3. All existing liquidity in these pools — both the 300 percent APR voted pools and the ‘all-other’ 100 percent APR pools — will be eligible for incentives. For example, once the ROWAN:rATOM pool is established, all existing liquidity will begin to collect rewards including recently added liquidity.
Liquidity providers receive pool incentives as a way to encourage users to offer liquidity to the Sifchain ecosystem. Each time a user swaps in/out of the associated pool, they earn reward. To earn pool rewards, users must have liquidity in a pool and exchange activity in that pool. StaFi on the other hand has promised to continue to collaborate with Sifchain DEX to explore liquid staking options for ROWAN, which will allow ROWAN stakers to optimize their staking returns while maintaining the same liquidity as rATOM and potentially other rTokens.
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