Introduction to The SFT Protocol
We are glad to meet you at such an early stage of The SFT Protocol. Now, I will tell you a little bit about what it is.
What is The SFT Protocol?
The SFT protocol is based on the Substrate architecture, cross-chain communication, and modular underlying application public chain, to solve those assets that are locked by a stake in the medium and long term and cannot flow: such as FIL, DOT, ETH2.0, etc., providing a kind of decentralization Protocol that enables locked assets to circulate freely.
It is a decentralized protocol for providing liquidity for staking assets and for building high-performance public chain cloud nodes. Aside from providing privacy computing and distributed storage capabilities, it is also a platform provider.
Why The SFT Protocol?
The contradiction between TokenStake security and token liquidity has gradually become more apparent as a result of the launch of FIL, Cosmos, Polkadot, and other projects and the development of the ecosystem.
Therefore, creating a public chain asset that can solve those locked by a stake in the medium and long term is urgent. Providing a Decentralized protocol enables the free circulation of locked assets.
In addition to minting SFT tokens, The SFT Protocol allows Stakers to mortgage the original tokens on the chain, which allows them to simultaneously get stake income and ensure public chain security.
In the process of supporting basic public chains such as FIL, the SFT protocol will establish a large amount of infrastructure. On this basis, the cloud node API interface will be gathered to provide various cloud services required to build the future Web3 and Metaverse, and flexibly satisfy customers.
How does The SFT Protocol work?
The SFT protocol will first be applied on Filecoin (later it will be applied to more public chains) to solve the problem of FIL being staked for too long and token liquidity being weak.
Business Ecology of The SFT Protocol and Filecoin Public Chain
1. Smart contract management, open and transparent data.
2. Staking and redemption, Free entry and exit.
3.Earn: Compound perpetual; Regular income;Current income; Leverage;Farm staking;PancakeSwap-LP staking; Income lending.
4. Matching: FIL or USDT holders participate in lending and interest rate transactions through smart contracts and multi-signatures.
Filecoin public chain and The SFT protocol — Business Process
About Tokens
In The SFT protocol, there are two types of tokens: Alternativetokens (currently SFT) and Nativetokens (DAO).
SFT is mainly responsible for the medium of liquidity, and the equity attribution function/rights are inherited from StakingToken. As the native token of the SFT Protocol,
DAO is mainly a system transaction medium, primarily responsible for value capture, consensus incentives, prevention of system abuse, and system voting governance.
Initial distribution of tokens
A large portion of the DAO’s initial distribution is allocated to community rewards. Users can participate in Staking through StakingContracts and get community rewards. The amount earned is proportional to the amount of work performed through the total value of the StakingToken. This process is called StakingDrop. StakingDrop is an initial incentive mechanism designed by SFT to stimulate early adoption of SFT. New incentives could increase the collection of circulation fees.
The specific allocation will be updated later.
How to achieve the goal?
The SFT Protocol will achieve its near-term goals in three phases.
Summarize
Within the next 2 to 3 years, the market value of stake assets will reach 100 billion. Many assets will be locked due to security concerns, and liquidity will also decline.
The SFT Protocol takes Staking assets as the starting point and aims to create a decentralized asset decentralization protocol.
The initial focus will be on providing staking assets without third-party endorsements and trusts and solving the contradiction between liquidity and security. Token liquidity will be provided by SFT on the SFT protocol, whether it is FIL, ATOM, or DOT.
At the cloud service node API interface, we’ll gather APIs from various blockchains to provide all necessary components for building the Web3 and Metaverse of tomorrow. On the hardware side, we’ll create a self-augmenting, comprehensive, multi-cloud network infrastructure that is distributed around the world — offering customers a variety of privacy computing and storage solutions that are simplified to meet their needs more securely and efficiently. Lastly, our proprietary connections will assist global companies with making use of the new-generation blockchain infrastructure for their digital transformation.
The node NAAS and infrastructure services are integrated into the SFT protocol ecology, thereby creating a strong DAO to uphold the security of the main chain. This development further builds a prosperous foundation for SFTDAO tokens and financial derivatives, which makes the SFT protocol an essential infrastructure for DeFi applications. Our ultimate goal is to seamlessly connect Web 3.0, Metaverse, the real economy, and the digital economy.
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