Learn what StaFi (FIS) coin is in one minute

StaFi enables users to preserve staking rewards while unlocking liquidity, allowing them to harness their staked assets within the DeFi landscape.

Jan 04, 2025 at 10:42 am

Key Points

• What is StaFi (FIS)? A decentralized financial protocol that unlocks the liquidity of staked assets.
• Benefits of StaFi: Earn staking rewards while maintaining liquidity, access DeFi services, and participate in governance.
• How to Use StaFi: Stake assets, mint syn tokens, earn staking rewards, and participate in DeFi.
• Step-by-Step Guide to Staking on StaFi: Deposit assets, choose staking period, mint syn tokens, and earn rewards.
• FAQs: Answers to commonly asked questions about StaFi, FIS token, and staking.

What is StaFi (FIS)?

StaFi is a decentralized financial protocol that unlocks the liquidity of staked assets. It enables users to stake their PoS (Proof-of-Stake) assets, such as ETH, DOT, and ATOM, while maintaining access to their liquidity. StaFi achieves this by minting synthetic assets, or "syn tokens," that represent the user's staked tokens. These syn tokens can be used in DeFi services, such as lending and borrowing, without affecting the user's staked tokens.

Benefits of StaFi

• Earn Staking Rewards: Continue earning staking rewards on your staked assets while maintaining liquidity.
• Access DeFi Services: Use staked assets as collateral in DeFi applications, such as lending and borrowing.
• Participate in Governance: Stake syn tokens to participate in the governance of StaFi protocol.

How to Use StaFi

1. Stake Assets: Deposit supported PoS assets into StaFi platform.
2. Choose Staking Period: Select the duration (epoch) for staking.
3. Mint syn Tokens: Receive an equivalent amount of syn tokens for your staked assets.
4. Earn Staking Rewards: Collect staking rewards on your staked assets, proportionate to the staking period selected.

Step-by-Step Guide to Staking on StaFi

1. Deposit Assets: Transfer PoS assets to your StaFi wallet.
2. Choose Staking Period: Select an epoch for staking, ranging from 1 week to 2 years.
3. Mint syn Tokens: Convert your staked assets into syn tokens to maintain liquidity while staking.
4. Earn Rewards: Collect staking rewards periodically, automatically deposited to your wallet.

FAQs

• What is FIS token? FIS is the native token of StaFi protocol, used for governance, community incentives, and platform development.
• Can I withdraw my staked assets anytime? Staked assets are locked for the duration of the chosen staking period.
• How are syn tokens redeemable? Syn tokens can be redeemed for staked assets after the end of the staking period.
• Is StaFi safe? StaFi deploys smart contracts on multiple blockchains and employs a rigorous security auditing process.
• Where can I learn more about StaFi? Visit the StaFi website or official social media channels.