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StaFi

FIS

4.3

Price
$0.32
9/26/2022, 3:23:22 PM
diamondHands

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Market

Market stats

Market cap

$19.3M

Volume (24h)

$1.3M

Circulating supply

60.5M FIS

Typical hold time

4 days

Popularity

#176

All time high

$4.82

Price change (1h)

-0.26%

Price change (24h)

-1.94%

Price change (7d)

-3.27%

Trading activity

0% Buy0% Buy
100% Sell100% Sell

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StaFi is on the decline this week.

The price of StaFi has fallen by 3.27% in the past 7 days. The price declined by 1.94% in the last 24 hours. In just the past hour, the price shrunk by 0.26%. The current price is $0.3192 per FIS. StaFi is 93.38% below the all time high of $4.82.

The current circulating supply is 60,452,000 FIS.

About

FIS is an Ethereum token that powers StaFi, a cross-chain protocol for trading staked assets as derivatives (also called “liquid staking”). Users can stake proof of stake assets via StaFi to receive “rTokens” (for example, staking 1 XTZ on StaFi might generate 1 rXTZ), which can be freely traded and redeemed for a corresponding amount of the locked and staked asset. FIS is used for staking and minting rTokens, and for paying transaction fees on the network.

What Is StaFi (FIS)?

StaFi (FIS) is a cross-chain staking derivative protocol. The project aims to unlock the liquidity of staked assets for users. Liquidity is the ability of a token to be easily converted into currency or other coins. Named after the combined abbreviation of Staking+Finance, StaFi seeks to generate maximized staking rewards for users within the ecosystem. This unlocking of staked assets executes with the assistance of its rTokens such as rDOT, rATOM, rBNB, etc.

According to the whitepaper, the DeFi system on the blockchain network aims to bridge the gap with the existing financial system by allowing users to earn yield through their cryptocurrency holdings. However, the current accepting staking model presents issues that stifle adoption on a large scale. Most staking protocols require users to lock their tokens for a while to maintain network security. Thus, users are unable to utilize their tokens for liquidity and unable to trade if their tokens lose value and are subject to the security risk of each token mainnet. StaFi aims to transform proof-of-stake liquidity, making it more accessible and beneficial for users.

rToken is short for redeemable token. These are the tokens issued by the protocol that is representative of a staked asset and are specially built for liquidity. For example, if a user lends 100BNB tokens to the liquidity pool, then the user is issued 100 rBNB tokens. These rToken seek to allow users to obtain staking rewards and access liquidity by trading rTokens directly. Users also have the privilege to redeem the corresponding portion of staked tokens as and when required.

To maintain the StaFi protocol, StaFi Validators (SV) and StaFi Special Validators (SSV) are essential. That is why StaFi launched FIS, its native token for the protocol. The token is utilized in the system for staking, transactions, and on-chain governance. As per the website, FIS provides security to the network by staking, paying for transaction fees on the StaFi chain, minting, and redeeming rTokens.

History of StaFi

The website mentions a part of the platform’s two-year roadmap. The launch and integration of the rToken were done in Q1, 2021, while introducing a robust system for the rToken in Q3, 2021, conducting the exploration on an open staking derivative platform in Q4, 2021, and planning the launch of StaFiHub, rDex (native decentralized exchange), and more in Q1, 2022.

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Social

StaFi on social media.

StaFi was mentioned in 203 out of 1,647,737 social media posts on Twitter and Reddit on Sep 25, 2022. 147 unique individuals are talking about StaFi and it is ranked #314 in most mentions and activity from collected posts.

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Key indicators

Contributors

147 people

Posts

203 posts

Dominance

0.01%

Volume rank

#314

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FAQ

What is the current price of StaFi?

The price of 1 StaFi currently costs $0.32.

What is the market cap of StaFi?

The current market cap of StaFi is $19.28M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of StaFi?

The all-time high of StaFi is $4.82. This all-time high is highest price paid for StaFi since it was launched.

What is the 24 hour trading volume of StaFi?

Over the last 24 hours, the trading volume of StaFi is $1.30M.

What other assets are similar to StaFi?

Assets that have a similar market cap to StaFi include Gifto, Cratos, Student Coin, and many others. To see a full list, see our comparable market cap assets.

How many StaFi are there?

The current circulating supply of StaFi is 60 million.

What is the typical holding time of StaFi?

The median time that Coinbase customers hold StaFi before selling it or sending it to another account or address is 4 days.

What is the relative popularity of StaFi?

StaFi ranks 222 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

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