StaFi presents its liquid staking protocol, emphasizing the debut of rSEI on the Sei V2 mainnet as the ecosystem’s inaugural liquid staking token.
The liquid staking protocol presented StaFi’s rSEI for launch on the Sei V2 mainnet as the first liquid staking token (LST) in the Sei ecosystem based on Sei EVM.
Built on top of StaFi’s LSaaS platform, the EVM Liquid Staking Derivatives (LSD) Stack is where rSEI was born. The mainnet rollout is one of the main uses of Liquid-Staking-as-a-Service (LSaaS) in StaFi’s continuous attempts to become the LSD infrastructure layer.
LSaaS, a framework, can enhance the efficiency and flexibility of staking mechanisms. LSaaS supports various staking models, enabling builders to generate LSD and LRT on both Layer 1 and Layer 2 networks.
Users can now keep track of their rewards and stake/unstake SEI tokens. In order to stake SEI tokens and obtain rSEI coins, one can use rSEI. These rSEI tokens connect to the staked SEI tokens and their corresponding staking rewards, allowing for their trading or transfer at any time.
It is expected that the unstaking capability will be introduced in Q4 of 2024 or a comparable timeframe, although it will not be available initially to assure the security and stability of SEI staking.
To further encourage the use of rSEI prior to its debut, StaFi has employed a number of incentive methods. We have developed four incentive mechanisms for rSEI Mint Drop and rSEI liquidity, considering variables such as total value locked (TVL) and development costs. Once the week-long voting for these approaches concludes, the incentive campaign will commence gradually after the deployment process is complete.
Sei Network, a Cosmos app chain with decentralized finance (DeFi) in mind, serves as an example of this. It provides the groundwork for developing CosmWasm apps with its built-in order book and matching engine.
StaFi Expands Its LSaaS Stack to Include LRT
The enhanced liquidity for staked assets is a result of StaFi’s operation across numerous blockchains. Making sure tokens are liquid in PoS consensus processes while keeping the mainnet secure is a problem that this project intends to solve.
More recently, StaFi added LRT compatibility to their LSaaS stack. EigenLayer added this feature after going live on the mainnet, enabling projects and builders to install LRT using LSaaS. We anticipate increased efficiency in LRT development and enhanced access to restaking services.