FIS and rToken

There are two types of tokens in the Stafi protocol, one is an alternative token (currently rToken), and one is a native token (FIS). The functions of the two tokens in the protocol are different. rToken mainly assumes the medium for liquidity, and the equity is attributed functions/right are inherited from Staking Token. As the native token of the Stafi protocol, FIS is mainly a system transaction medium, mainly responsible for value capture, consensus incentives, and prevention of system abuse (Tx fee).

FIS is the native digital cryptographically-secured utility token of the StaFi protocol, is also a transferable representation of attributed functions specified in the protocol /code of the staFi protocol, designed to play a major role in the afunctioning of the ecosystem in the Stafi protocol, and intended to be used solely as the primary utility token on the platform.

FIS is a non-refundable functional utility token which will be used as the medium of exchange for transactions between participants of the Stafi protocol. The goal of introducing FIS is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the Stafi protocol, and it is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer. FIS does not in any way represent any shareholding, participation, right, title, or interest in the Foundation, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will FIS entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. FIS may only be utilised on the Stafi protocol, and ownership of FIS carries no rights, express or implied, other than the right to use FIS as a means to enable usage of and interaction within the Stafi protocol.

FIS is an integral and indispensable part of the Stafi protocol, because without FIS, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on the Stafi protocol

rToken

rToken is a redeemable token for the staked assets issued by StaFi protocol that can be traded, lent, or borrowed in a variety of venues. Whenever a user stakes a native token through the relevant Staking Contract, a certain amount of rTokens will be issued per amount of the native tokens staked in the Staking Contract and the real-time exchange rate for the rToken. The exchange rate for the rToken will gradually increase, as staking rewards for that native token accumulate, and so will the amount of native tokens that can be redeemed.

Rights represented by rToken

rToken represents the rights to redeem the native staked assets at any time and obtain the corresponding staking income. Next to that, rToken holders also have the right to continue participating in on-chain governance on the original chain.

There are two main methods to obtain rToken

1) Stake native tokens through StaFi’s Staking Contract: rTokens will be minted and sent to your designated wallet address according to the amount of the native tokens you Stake(Qs) and the exchange rate of rToken (Cr);

2) Obtain rToken on Uniswap or other exchanges: All rTokens can be traded and exchanged for native tokens per market exchange rates on decentralized exchanges or centralized exchanges that support rTokens.

rToken classification

StaFi classifies rToken into four categories:

1) rETH: the rToken for Ethereum 2.0 Staking after it goes live.

2) rTokens for Polkadot: rFIS, rDOT, rKSM and rTokens for other Substrate based projects.

3) rToken for the Cosmos ecosystem: rATOM, rKAVA, etc.

4) Others, such as rXTZ, rEOS, etc.

https://www.stafi.io/
https://t.co/zTayW62J7d?amp=1

https://twitter.com/StaFi_Protocol

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