StaFi
Crypto Overview
Project Overview
StaFi (Staking Finance) is a protocol that aims to solve the liquidity problem in Proof of Stake networks by issuing rTokens (like rETH, rDOT, rSOL) that represent staked assets. When users stake their tokens through StaFi, they receive rTokens that can be traded or used in DeFi while their original assets remain staked.
Intended Utility
The primary purpose of FIS token is to serve as the governance and utility token of the StaFi protocol. It is used for protocol governance, paying transaction fees, and incentivizing validators and users. The protocol's main utility is enabling liquid staking, allowing users to maintain liquidity while earning staking rewards.
Actual Implementation and Usage
The protocol has demonstrated real-world adoption with over $50 million in Total Value Locked (TVL) as of 2024. StaFi has active integrations with major blockchains including Ethereum, Polkadot, and Solana. The development team maintains regular updates and improvements to the protocol, with active GitHub repositories showing consistent development activity.
Token Distribution and Governance
The FIS token has a transparent distribution model with clear allocations: 30% to the ecosystem fund, 25% to the team (with a 2-year vesting period), 20% for staking rewards, 15% for early investors, and 10% for public sale. The vesting schedule and lock-up periods demonstrate consideration for long-term sustainability rather than short-term gains.
Revenue Model
The protocol generates revenue through protocol fees from liquid staking services, which are distributed to FIS stakers and used for protocol development. This model aligns with Islamic finance principles as it represents actual service fees rather than interest-based returns.
Crypto Impact
To assign a comfort level investing in StaFi from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to StaFi.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.