TrustFi
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Staking Contract
Staking Contract
The front-end product based on Decentralized Staking Contract is named TrustFi Beta. The same as TrustFi Alpha, there are two categories of TrustFi Beta users, including Project Owners and participants who are going to stake their tokens.
TrustFi Beta Design Principle
The available entire global market cap for Proof-of-Stake (PoS) staking as of 7 April 2021 is over USD 589 billion (data source: StakingRewards.com), almost 10 times larger than the entire DeFi TVL. The market potential of staking is huge.
TrustFi separates the part of consensus in Proof-of-Stake (PoS), without considering the ability of maintaining the security and stability of public chain network, and refines the economic model related to revenue distribution. TrustFi simplifies the complex process of the whole staking, and designs it as a decentralized staking smart contract product that allows everyone to participate equally, which is named TrustFi Beta.
Therefore, the core component of TrustFi Beta, Decentralized Staking Contract, is different from Proof-of-Stake (PoS) staking, which is a Half Community Governance model that enables crypto startups to build early communities.
Project Owner can easily call the Staking Contract through the UI of TrustFi Beta to design a staking scheme of the Project Token. The main processes are as follows:
(I) Create a Staking Pool and customize it to set period, Annual percentage yields, unlock rules, threshold, etc.;
(II) Deposit Project Tokens for staking rewards into Stacking Contract;
(III) The project staking page is created, and the exclusive promotion link is generated.
The token holder of the project can easily participate in the staking after Project Owner has created the Staking Pool. According to the different amount of token staked by the threshold, the token holder of the project could choose to apply for Node or vote directly to participate in the staking. The advantage of being a node is that you can customize the distribution ratio of Node rewards and Voter rewards.
TrustFi Beta Flowchart
Staking Contract Security
The asset security of Staking Contract is guaranteed in many ways. First, the asset neutrality, staking assets will be locked to the Staking Pool, and their allocation details will be recorded in the Staking Contract. The Staking Contracts developed by initial developers will be audited and open sourced for third parties, which can create their own Staking Contracts to achieve the decentralization of Staking assets. The Staking Contract is not subject to any single third party control. The value of the assets is directly proportional under PLM Model (mentioned below). When a variety of conditions are combined, the TrustFi system can effectively punish certain risk factors. Under the assumption that most people are honest, the assets of the Staking Contract can guarantee certain security. Anyway, any Staking Contract deployed in multichain environment will be audited by a third-party audit agency before the release.
Last modified 5mo ago
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