StaFi 2.0 Testnet Supports ETH and Cosmos Liquid Staking

StaFi offers Liquid Staking as a Service or LSAAS. With its 2.0 testnet, it is ready to serve EVM chains and Cosmos Liquid Staking. Their next step will be the mainnet 2.0 launch during Q3-2024. This testnet offers plenty of new and powerful features. 

So, let’s take a closer look at the new StaFi Liquid Staking as a Service 2.0 testnet.

What Is the StaFi Testnet 2.0?

StaFi offers the Liquid Staking as a Service stack. This accelerates Liquid Staking deployment. It wants to position itself in a leading role for EVM and Cosmos staking infra solutions. The testnet 2.0, supports liquid staking derivatives or LSDs. It covers some major blockchains, for instance, Ethereum, EVM Layer 2s, and Cosmos.

For Cosmos, the protocol uses the CosWasm LSD framework. This supports various deployment approaches, among others, Neutron. This is a smart contract L1 blockchain in the IBC. That’s the Inter-Blockchain Communication Protocol. Furthermore, Cosmos chains can deploy on StaFi 2.0. 

The launch of the StaFi 2.0 testnet is a major milestone in their journey to mainnet. That’s how StaFi Co-Founder Liam Young sees it. Furthermore, it offers L1 chains a major boost when looking for easy LSD access. He also said; “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 LSD vertical can, for example:

  • Strengthen network security.
  • Improve decentralization.
  • Open new opportunities for yield generation.

As such, StaFi 2.0 can unlock greater economic opportunities. At the same time, it can incentivize greater blockchain security. For example, the StaFi 2.0 mainnet will see an innovative LRT Stack. This can power new restaking applications. The picture below shows how LSAAS works.


Source: StaFi LSAAS

StaFi Accelerates LSD Development

StaFi’s LSAAS framework can accelerate LSD development. Devs can quickly deploy highly secure and capital-efficient LSDs on L1 and L2 chains. On the testnet, devs can experiment with this product. That should show them how convenient LSAAS is.

The StaFi protocol wants to evolve into an infrastructure layer for LSD. StaFi 2.0 is their vehicle for this. Liquid staking is part of a multi-billion dollar industry. StaFi should become an essential component in expanding LSD. For example, by bringing restaking to more L1 and L2 chains. 

To recap, this testnet allows devs to familiarize themselves with LSAAS. In turn, their feedback will also improve the 2.0 mainnet.

The current $FIS price is $0.7397. It has a marketcap of $103.6 million. The max, total, and circulating supply are 140 million tokens. Coins


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