Liquid staking protocol StaFi will likely be deploying its Liquid Staking as a Service (LSAAS) testnet forward of its rebrand and mainnet launch of StaFi 2.0.
Liquid staking as a service refers to blockchain platforms that present liquidity by minting a brand new token that represents an underlying staked asset. This new token can be utilized and traded in DeFi protocols for added income or rewards.
This preliminary StaFi 2.0 testnet will assist liquid staking derivatives (LSDs) from Ethereum, EVM layer-2s and the Cosmos ecosystem. It’ll permit builders throughout these totally different networks to experiment with StaFi’s newest options and permit the protocol to work on enhancements based mostly on person ideas.
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StaFi will launch its liquid restaked token on testnet in Q2 of this 12 months, and mainnet launch is scheduled to go stay in Q3 of 2024.
“The launch of the StaFi 2.0 testnet is a significant milestone in our journey to mainnet. It’s additionally a significant increase for layer-1 blockchains looking for simpler entry to LSD with the huge potential this vertical holds for strengthening community safety, decentralization and opening new alternatives for yield technology,” StaFi co-founder Liam Younger mentioned in a press launch reviewed by Blockworks.
StaFi was first developed by Polkadot grants, and the blockchain itself is on Substrate — a blockchain software program improvement equipment (SDK) builders use to create parachains on Polkadot.
This newest rebrand will place the protocol to interrupt free from the Polkadot ecosystem and place itself as a liquid staking by-product infrastructure platform that’s suitable with a number of blockchain networks.
Along with supporting LSDs on Ethereum, EVM layer-2s and Cosmos, StaFi can also be trying to discover LSD options for Bitcoin, with extra details about their work to be anticipated in a number of months.
