StaFi (FIS) is a token of the DeFi protocol, which is aimed at unlocking the liquidity of assets that are put on stake. The coin provides network security by placing bets, paying transaction fees on the StaFi network, minting and redeeming rTokens.

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📢Proposal To Transition $rBNB to StaFi’s #EVM LSD Architecture

StaFi aims to enhance $rBNB's utility & security by decoupling it from #StaFi Chain's security and incorporating #BSC Native Staking contract interface.

Motivation
1️⃣Usability: Numerous transactions and wallets when staking.
2️⃣Redemption: Simplifying $rBNB burning during redemption.
3️⃣Security: Enhance security with #Multisig & Relay service.

Specifications
1️⃣New Staking contracts: Facilitate liquid staking directly on #BSC.
2️⃣rBNB relay: Ensures precise $rBNB exchange rates.
3️⃣System staking contract: Manages staking requests with staking contracts on BSC.

If unopposed, staking & redemption operations of rBNB will be paused aroun June 21st which will last 1-2 weeks. Rest assured, users' assets and earnings will be safe and secure throughout this period.

📗Read proposal: https://dao.stafi.io/t/sip-3-a-new-implementation-of-rbnb-using-evm-lsd-architecture/87
🔄Retweet: https://twitter.com/StaFi_Protocol/status/1669661986236555264

Proposal To Transition $rBNB to StaFi's #EVM LSD Architecture.