DeFi Protocol StaFi Launches Innovative Liquidity Solution for EVM Compatible Chains
On April 7th, the DeFi protocol StaFi launched a proposal in the community to launch a new liquid collateralized derivative (LSD) solution for EVM compatible chains. rToken will be
On April 7th, the DeFi protocol StaFi launched a proposal in the community to launch a new liquid collateralized derivative (LSD) solution for EVM compatible chains. rToken will be directly issued on the target chain to enhance its security and composability. In the new EVM LSD scheme, rToken Relay will be directly deployed to the target contract layer, enabling it to perform operations directly. The main feature of this scheme is that rTokens will be directly issued on the target chain, and users do not need to cross chain communication when obtaining rTokens. Moreover, given the same token standard, rTokens can be easily integrated into DeFi on the target chain.
StaFi Launches New Liquidity Collateral Derivatives Solution for EVM Compatible Chain
On April 7th, 2021, the decentralized finance (DeFi) protocol StaFi stunned the crypto world by launching a proposal for a new liquid collateralized derivative (LSD) solution for EVM compatible chains. This innovative solution named rToken not only enhances the security and composability of the target chain, but also minimizes cross-chain communication for obtaining rTokens.
What is rToken?
rToken is a liquid collateralized derivative solution aimed at EVM compatible chains. The solution is designed to help bring existing chains together and improve overall interoperability between chains. The essence of rToken is its ability to issue tokens directly on the target chain, without the need for cross-chain communication.
How Does rToken Work on the EVM LSD Scheme?
In the new EVM LSD scheme, rToken Relay is deployed directly to the target contract layer, which allows it to perform operations directly. The key feature of this scheme is that users do not need to engage in cross-chain communication when obtaining rTokens. Furthermore, with the implementation of the same token standard, rTokens can be seamlessly integrated into DeFi on the target
chain.
Main Benefits of rToken
The rToken solution is a win-win approach for both developers and users since it offers numerous benefits. Here are the main advantages of the rToken solution:
Enhanced Security
The security and reliability of the target chain will be improved, as rTokens are directly issued on the target chain. This approach avoids using centralized middlemen or third-party services, which may be vulnerable to attacks.
Increased Composability
With rTokens directly issued on the target chain, they can be easily integrated into various DeFi protocols on the target chain. This integration will increase composability in the DeFi ecosystem, ultimately contributing to the growth of the entire industry.
Minimized Cross-Chain Communication
One of the significant challenges of the current DeFi ecosystem is the need for cross-chain communication when obtaining rTokens or other crypto assets. The rToken solution eliminates the reliance on intermediaries and as a result, minimizes cross-chain communication.
rToken and the Future of DeFi
StaFi’s rToken solution offers a more streamlined and efficient way of obtaining rTokens and improving the interoperability among EVM compatible chains. As more chains adopt the solution, the DeFi ecosystem will become more integrated and secure, paving the way for the growth of the industry.
Conclusion
The DeFi ecosystem is continually evolving, and the launch of the rToken solution by StaFi is a giant leap towards achieving a more integrated and efficient DeFi ecosystem. With enhanced security, increased composability, and minimized cross-chain communication, the solution is poised to change the game in the DeFi landscape.
FAQs
1. What is rToken?
rToken is a liquid collateralized derivative solution designed to enhance the security and composability of target chains while minimizing cross-chain communication.
2. How does rToken work on the EVM LSD scheme?
In the EVM LSD scheme, rToken Relay is directly deployed to the target contract layer, allowing it to perform operations directly. rTokens are then issued on the target chain, which helps to minimize cross-chain communication.
3. What are the main benefits of rToken?
The main benefits of rToken include enhanced security, increased composability, and minimized cross-chain communication.
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