🪙Introduction to stFLIP

stFLIP is a liquid staking solution backed 1:1 with native FLIP. Holders earn protocol rewards from Chainflip validator nodes.

What is Staked FLIP (stFLIP)?

stFLIP is a liquid staking solution that allows you to stake any amount of FLIP and start earning protocol rewards instantly.

When stFLIP is minted, Thunderhead stakes the underlying native FLIP tokens onto validator nodes on the Chainflip network. When protocol rewards accrue on these nodes, the stFLIP contract programmatically rebases the stFLIP token, distributing protocol rewards equally to all stFLIP holders every hour.

The permissionless nature of ERC20s allow users to buy/sell stFLIP on a DEX, as well as participate in various other DeFi activities. One is also able to sell stFLIP to circumvent the unstaking period if there is enough native FLIP in the curve pool. Alternatively, at any time, users can unstake from Thunderhead's validator nodes and recieve an equal amount of native FLIP when the next block auction begins.

What Are The Benefits?

stFLIP as a liquid staking token is extremely useful for a couple of reasons:

• stFLIP allows users to receive Chainflip protocol rewards in a permissionless manner and without the hassle of managing complicated infrastructure.

• stFLIP gives users instant liquidity for staked FLIP without having to unstake. There are no wait times or minimums.

How Can I Get Started?

Users can stake their native FLIP on our staking site and receive 1:1 stFLIP in return within a couple of minutes. stFLIP will begin rebasing immediately. User without native FLIP can also buy stFLIP directly in curve protocols' liquidity pool.