Multichain liquid staking platform StaFi is launching its Liquid Staking as a Service (LSAAS) testnet, in anticipation of its mainnet launch, StaFi 2.0. The latest iteration of its liquid staking platform will introduce a host of new features to push the protocol as the leading infrastructure solution for Ethereum-based and Cosmos blockchain staking.
Since its launch, StaFi has created solutions to extend liquid staking across multiple blockchains. With the current liquid staking model only servicing single blockchains, such as Lido Finance for Ethereum staking only, the StaFi 2.0 launch will allow users to stake on multiple blockchains. This is expected to unlock greater utility and economic rewards for stakers while enhancing blockchain security across multiple blockchains.
As StaFi co-founder Liam Young explained during the unveiling of the LSAAS testnet launch, the launch of its testnet will “provide a major boost for Layer 1 blockchains’ security” as well as “opening new opportunities for yield generation”.
“The launch of the StaFi 2.0 testnet is a major milestone in our journey to mainnet,” he continued. “The future of blockchain development is intertwined with liquid staking. StaFi 2.0 will play a crucial role in realizing that vision through pioneering Liquid Staking as a Service.”
The testnet supports liquid staking derivatives (LSD) for leading Layer 1 ecosystems such as Ethereum, EVM layer2s, and Cosmos. The CosWasm LSD framework supports diverse deployment approaches including Neutron, the native smart contract platform secured by Cosmos. StaFi 2.0 also supports native Cosmos chain deployment.
Notwithstanding, the LSAAS framework will also accelerate the development and upgrades of LSD innovations. It will facilitate the rapid deployment of highly secure and capital-efficient LSDs on layer1 and layer2 blockchains, opening the platform to more staking options and products.
Following the launch of StaFi’s LSAAS testnet, users on the platform can start experimenting with innovative LSD products and experience the convenience of being able to access Liquid Staking as a Service.
A successful testnet period will be followed by the unveiling of the StaFi 2.0 mainnet and a later launch of the innovative LRT Stack to power new re-staking applications. The timeline for the LRT unveiling is yet to be confirmed.
StaFi 2.0 will be a revolutionary liquid staking upgrade, transforming the platform into an infrastructure layer for stakers and LSD products. Additionally, it will support multiple virtual machines (VMs) including EVM and WASM, aiming to pioneer a new staking mechanism for the billion-dollar liquid staking industry and bring re-staking to several Layer 1 and Layer 2 blockchains.
As users and developers test and familiarize themselves with the LSAAS testnet, developers from StaFi will acquire the necessary information needed to further innovate the platform before its mainnet launch. It will allow further developments and bug fixes based on users’ feedback ahead of its mainnet launch schedules for Q3 later this year.
