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.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Permissionless is a conference for founders, application developers, and users. Come meet the next generation of people building and using crypto.

recent research

Research Report Templates (1).png


Solana Mobile is a highly ambitious foray into the mobile consumer hardware market, seeking to open up a crypto-native distribution channel for mobile-first applications. The market for Solana Mobile devices has demonstrated a phenomenon whereby external market actors (e.g. Solana-native projects) continuously underwrite subsidies to Mobile consumers. The value of these subsidies, coming in the form of airdrops, trial programs, and exclusive NFT mints, have consistently covered the cost of the phone and generated positive returns for consumers. Given this trend in subsidies, the unit economics in the market for Mobile devices, and the initial growth rate and trajectory of sales, it should be expected that Solana mobile can clear 1M to 10M units over the coming years. As more devices circulate amongst users, Solana Mobile presents a promising venue for the emergence of killer-applications uniquely enabled by this mobile-first, crypto-native distribution channel.


Crypto’s Wild West era is over — it’s time to embrace regulation to secure the future of digital assets


Plus, Solana has now surpassed Ethereum in trailing 30-day decentralized exchange volume


Polymarket betters say Kamala Harris has better odds than Biden of winning against Trump


Bitcoin’s down Tuesday, while ETH-correlated assets like ENS and ARB see growth


Plus, let’s check on the nine ether ETFs now trading on US exchanges