In the rapid development and application of blockchain technology, the SFT protocol is leading a revolution with its unique design and functionality. Based on the Substrate framework, the SFT protocol enables cross-chain communication and solves the liquidity problem of long-term staked assets, laying a solid foundation for the future of Web3.
Introduction
The SFT protocol is a decentralized protocol designed to provide liquidity for staked assets and build high-performance public chain cloud nodes. This protocol solves the liquidity problem of staked assets in POS blockchains and provides cloud node APIs and device services, becoming the fastest and most reliable Web3 infrastructure.
The core of the SFT protocol is its liquidity staking derivative (LSD) solution, which allows users to maintain the liquidity of their assets while enjoying staking rewards. This resolves the contradiction between TokenStake security and token liquidity, which has become increasingly apparent with the launch and development of projects and ecosystems such as FIL, Cosmos, Polkadot, and others.
Application
ScenariosThe SFT protocol has extensive prospects in the field of decentralized cloud computing. First, the SFT protocol utilizes the Filecoin network to provide secure and efficient storage solutions, which is essential for decentralized applications. Second, the LSD solution of the SFT protocol enables developers to easily access the resources they need to build and expand applications. Lastly, the cross-chain capability of the SFT protocol allows seamless interaction with other blockchain networks, further expanding the possibilities of decentralized cloud computing.
Products and Services
The SFT protocol provides a range of products and services, including LSD products, Web3 infrastructure, high-value data storage, and application services. Among them, LSD products allow users to stake PoS tokens through a fully permissionless and decentralized ecosystem, enjoy liquidity staking, and conduct unlocked transactions. Web3 infrastructure services, on the other hand, provide the ability to connect to more than 18 blockchains for developers, applications, and the world through a global node network. In addition, the SFT protocol also provides large-scale language data models and privacy computation centers similar to ChatGPT.
Development Roadmap
The development plan of the SFT protocol is divided into three phases. In the short term, the SFT protocol will first be applied on Filecoin to address the issues of long-term FIL staking and weak token liquidity. In the medium term, the SFT protocol will establish a large amount of infrastructure and collect cloud node API interfaces to provide necessary cloud services for building the future Web3 and metaverse. In the long term, the SFT protocol will provide various privacy computation and storage solutions to meet customers' needs through a self-enhancing global distributed multi-cloud network infrastructure.
Roadmap
2023 Q1
- Completed BSC chain contract development and application, from project development to deployment and operation, and accomplished the interaction between users and contracts. (Completed)
- Completed staking, SFT minting, farm revenue, compound interest, fixed-term and current income. (Completed)
- Integrated FIL staking and ecology on the first public chain Filecoin. (Completed)
- Completed the decentralized business application of Filecoin on the BSC chain. (Completed)
- Completed contract deployment and testing on the FVM test network. (Completed)
2023 Q2
- Deployed the FVM mainnet project, interface connection, automatic control of nodes, and automated distribution of contract-controlled revenue to the revenue pool. (Completed)
- BSC-Filecoin cross-chain bridge. (Completed)
- SFT RPC service launched on the test network. (Completed)
- Mining node, reward, and other data dashboard. (Completed)
- Unstaking and redemption launched on the test network. (Completed)
- SFT lending pool launched on the test network. (Completed)
2023 Q3
- SFT RPC provides multi-chain RPC node services.
- Launching redemption function and unstaking to redeem FIL.
- Launching SFT lending pool.
- Launching SFT and FIL reserve pool.
- SFT application chain launched on the test network.
2023 Q4
- SFT DAO governance mechanism.
- SFT application chain launched.
- Hardware infrastructure based on the SFT protocol launched on the test network.
- Multi-chain DeFi ecological applications launched on the mainnet.
- Mining other ecosystems and incubating applications deeply.
Community and Governance
The community governance mechanism of the SFT protocol is managed through a DAO organization with multiple signatures. SPD token holders can directly participate in the governance of the DAO organization. In addition, the SFT protocol has designed an initial incentive mechanism called StakingDrop to stimulate early adoption of SFT. New incentives may increase the collection of circulation fees.
Impact and Significance
The SFT protocol has a profound impact on Web3.0, metaverse, physical economy, and digital economy. The SFT protocol starts with pledging assets and aims to create a decentralized asset protocol. Whether it is FIL, ATOM, or DOT, the SFT protocol will provide token liquidity for them. On the cloud service node API interface, we will collect APIs of various blockchains and provide all the components needed to build the future Web3 and metaverse. In terms of hardware, we will create a self-enhancing, comprehensive, globally distributed multi-cloud network infrastructure to provide customers with various simplified privacy computing and storage solutions to meet their needs more securely and efficiently. Finally, our proprietary connection will help global companies utilize next-generation blockchain infrastructure for digital transformation.
Conclusion
In summary, the SFT protocol is an innovative and forward-looking project that builds a solid foundation for the future of Web3 by addressing some of the core issues in the blockchain field. With the continuous development and application of blockchain technology, we have reason to believe that the SFT protocol will play a larger role in the future, driving global economic development, societal and technological transformation, as well as innovation.
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