StaFi deploys liquid staking as a service testnet

StaFi’s latest testnet launch is the first step in its grand rebrand strategy to become a liquid staking service provider


StaFi and Adobe Stock modified by Blockworks


Liquid staking protocol StaFi will be deploying its Liquid Staking as a Service (LSAAS) testnet ahead of its rebrand and mainnet launch of StaFi 2.0. 

Liquid staking as a service refers to blockchain platforms that provide liquidity by minting a new token that represents an underlying staked asset. This new token can be used and traded in DeFi protocols for additional revenue or rewards.

This initial StaFi 2.0 testnet will support liquid staking derivatives (LSDs) from Ethereum, EVM layer-2s and the Cosmos ecosystem. It will allow developers across these different networks to experiment with StaFi’s latest features and allow the protocol to work on improvements based on user suggestions. 

Read more: announces $23M Series A round as restaking interest grows

StaFi will launch its liquid restaked token on testnet in Q2 of this year, and mainnet launch is scheduled to go live in Q3 of 2024. 

“The launch of the StaFi 2.0 testnet is a major milestone in our journey to mainnet. It’s also a major boost for layer-1 blockchains seeking easier access to LSD with the vast potential this vertical holds for strengthening network security, decentralization and opening new opportunities for yield generation,” StaFi co-founder Liam Young said in a press release reviewed by Blockworks. 

StaFi was first developed through Polkadot grants, and the blockchain itself is on Substrate — a blockchain software development kit (SDK) developers use to create parachains on Polkadot.

This latest rebrand will position the protocol to break free from the Polkadot ecosystem and position itself as a liquid staking derivative infrastructure platform that is compatible with multiple blockchain networks. 

In addition to supporting LSDs on Ethereum, EVM layer-2s and Cosmos, StaFi is also looking to find LSD solutions for Bitcoin, with more information about their work to be expected in a few months.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

ao cover.jpg


Arweave recently launched the testnet for AO computer, a new messaging protocol that will sit atop a PoS network and aims to become a scalable global compute platform through parallel processing and modularity.


Regulators in South Korea, Japan and Singapore could follow Hong Kong’s lead as Asia responds to spot bitcoin ETF approval in the US


Martin Grant worked with the Fed for roughly 30 years before leaving his position in 2022


BitGo CEO Mike Belshe shared his thoughts on the halving and bitcoin ETFs in an interview with Blockworks


Crypto markets were largely the only ones open over a tense weekend, and they took a beating for it


Though some expect most public miners to survive the halving, the segment’s most vulnerable could fall victim to consolidations and defaults


The US spot bitcoin fund category has notched negative net flows over the course of a week just three times since coming to market in January