rBridge is live — A cross chain bridge linking StaFi mainnet tokens & Ethereum chains

StaFi team of top engineers and developers have put together a great innovation, first of its kind to bridging the gap between Stafi mainnet tokens and Ethereum chain.

The purpose of rBridge is to enable FIS [native token of StaFi] to be traded on Uniswap. FIS tokens are not erc20 tokens i.e not Ethereum compatible token thereby making it difficult for it to be traded on ethereum trading venues and protocols. Through rBridge, you can swap your FIS tokens in a ratio of 1:1 to an rTokens [erc20 tokens] , this includes a variable gas fee that will be charged as FIS. There’s a link on the website to track your transaction. It takes not less than a minute for tokens to appear in the erc20 wallet.

rBridge is live and can be accessed through the link below : https://apps.stafi.io/#/accounts

The team has also put up extra efforts to link StaFi mainnet tokens to other ecosystems such as Polkadot and Cosmos.

A more recent update is StaFi entering into the UniLend ecosystem, making their rTokens accessible on UniLend and opening up new avenues of yield generation for UniLend users. More updates will come later as the team aims to link other ecosystems.

Swap Process

  • Log onto your stafi account, click on rbridge beta
  • Check your available FIS balance, make sure to add the estimated gas fee which is calculated in FIS tokens. Insert the amount to be transferred, it’ll automatically be calculated in 1:1 i.e FIS:Erc20 token, input the receiving wallet address. The amount to be minted will be locked in a contract address for a minute while the minting is being processed.
  • In a matter of a minute, your tokens will reflect in the erc20 wallet. From there, you can trade on uniswap.

rTokens are minted on the StaFi network but can be converted into ERC20 through the rBridge built by StaFi, and can thus be utilized in Ethereum-based DeFi applications.

More updates to follow on the uses of rBridge.

More About StaFi

StaFi is the first DeFi protocol unlocking liquidity of staked assets. Users can stake PoS tokens through StaFi and receive rTokens in return, which are available for trading, while still earning staking rewards. FIS is required to provide security to the network by staking, pay for transaction fees on the StaFi chain, and mint & redeem rTokens.

Website: www.stafi.io
Twitter:@Stafi_Protocol
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Forum:https://commonwealth.im/stafi