StaFi Staked SOLPrice

(RSOL)

rSOL is a decentralized finance (DeFi) product from StaFi, functioning as a synthetic staking derivative. When users stake their SOL tokens through the StaFi rSOL App, they receive rSOL tokens. These rSOL tokens represent their underlying staked SOL assets and also accrue any staking rewards, providing a liquid representation of their staked holdings.

rSOL primarily addresses two key issues for SOL stakers. Firstly, it provides liquidity by eliminating the typical 3-day cooldown period required to withdraw staked SOL, allowing users to transfer and trade their rSOL at any time. Secondly, it simplifies the staking process by automatically selecting optimal validators to maximize staking rewards, removing the need for users to understand complex consensus mechanisms inherent in native SOL staking.

Users can obtain rSOL by depositing their SOL tokens into the rSOL contract through the StaFi rSOL App. The amount of rSOL issued to the user is dynamically calculated based on the current exchange rate between SOL and rSOL at the time of the deposit.

To redeem staked assets, users initiate the process on StaFi's staking dashboard by specifying the amount of rSOL they wish to convert back to SOL. The system then burns the rSOL and calculates the redeemable SOL based on the prevailing exchange rate, sending the final balance, after deducting any applicable service charges, to the user's wallet. While native SOL unstaking can take several epochs due to warmup and cooldown periods, rSOL aims to significantly mitigate this waiting time.

When minting rSOL, a commission, which is calculated based on StaFi chain Gas Fee and Solana Chain Gas Fee, is paid in FIS (StaFi's mainnet token). Additionally, the rSOL App charges a portion of the staker's rewards as a commission, encompassing fees for both the validator and StaFi, which will not exceed 20% of the total staking rewards earned. A service charge (Feered) is also applied during the redemption process when converting rSOL back to SOL.

Yes, StaFi places a high emphasis on security. Its smart contracts undergo regular audits by reputable cybersecurity agencies such as CertiK and PeckShield. The rSOL contract specifically incorporates advanced strategies designed to minimize slashing risks. These strategies include prioritizing validators with a clean history (no previous slashing incidents) and distributing delegations across multiple validators to further enhance the overall security and resilience of the staking process.