Polkalokr is entering into collaboration contracts with multiple DeFi protocols for the advancement of decentralized finance. One of the most strategic partnership agreements of Polkalokr is with StaFi (Staking Finance), an upcoming DeFi project in recent times. StaFi is an open-source DeFi protocol known for unlocking the liquidity of staked assets to enable the users to put POS (Proof of Stake) tokens on stake to obtain rTokens in exchange at the platform of StaFi. The users shall be able to use the rTokens for earning staking rewards and trading.
StaFi is known to be the first protocol of decentralized finance that successfully unlocks the liquidity of staked assets. The native token of StaFi is FIS. FIS provides high security to the network of StaFi, serves as the token for transaction fee payment, and helps in minting and redeeming rTokens on the StaFi Blockchain.
The protocol of StaFi consists of three layers that are application, contract, and bottom layers. These layers ensure the best experience for the users and traders registered with StaFi. The partnership between Polkalokr and StaFi focuses on simplifying the intricacies that prevail in the DeFi ecosystem by providing smart solutions for the users. The teams at StaFi and Polkalokr have joined hands to encourage the mainstream adoption of decentralized finance by creating novel opportunities for platform users. The partnership delves deeper into the deployment of the technology of Polkalokr for the distribution and locking of the tokens of StaFi. Through the partnership, Polkalokr also seeks to explore the utilization of the rTokens of StaFi to improve its usability in the user and client community of Polkalokr.
The CEO of StaFi, Liam Young, intends to look into the solutions of liquid staking on a multi-chain basis in escrow and token locking areas. The partnership between StaFi and Polkalokr will help eliminate the challenges that exist in the DeFi space, in the opinion of Imran Ashfaq, the CEO of Polkalokr.