FILLiquid Declares Mainnet Launch For Filecoin-Primarily based Lending Platform

Berlin, Germany, July twenty fourth, 2024, Chainwire

FILLiquid, the open-sourced decentralized Filecoin-based lending platform, is thrilled to announce the official launch of its mainnet alongside the profitable completion of its TGE (Token Technology Occasion). With this milestone, FILLiquid unveils its liquidity pool, marking a major development in Filecoin storage energy progress by permitting $FIL holders to deposit tokens to earn curiosity and Storage Suppliers (SPs) to safe loans.

Following months of rigorous testing by way of a number of phases of an incentivized testnet, FILLiquid has efficiently accomplished its Token Technology Occasion (TGE). Over 20,000 distinctive wallets participated within the testnet, indicating the immense hype behind the Filecoin leasing utility. The group behind FILLiquid can also be rising, with over 32,000 followers on Twitter (X) and 22,000 members on its Discord server.

FILLiquid has prioritized safety with complete audits of its sensible contracts from Salus and CertiK, complemented by an inner DeFi safety staff (which helps evaluate the code). There may be additionally a proactive ‘Bug Bounty Program’ to assist assure the protection of person funds and platform integrity. The code for the sensible contract is absolutely open-sourced, and its possession is renounced, that means it has no proprietor and can’t be modified by anyone – adhering to the “Code is Regulation’ precept.

Arthur Tan, CEO of FILLiquid, mentioned, “The staff is thrilled to make the most of the platform to bridge the hole between Filecoin holders and storage suppliers. FILLiquid not solely focuses on boosting liquidity but additionally on empowering customers by way of strong safety measures and governance capabilities.”

“FILLiquid is proud to be the primary open-source contract undertaking throughout the Filecoin ecosystem. We prepared the ground by giving all rights to our customers by way of our Governance mannequin,” mentioned Arthur Tan. This mannequin permits $FIL holders to take part in key selections in regards to the platform’s future, comparable to adjustments to the protocol parameters or the allocation of group funds. “Our mission is to supply strong monetary instruments that empower each Filecoin holders and storage suppliers, enabling sustainable progress and innovation.”

With the borrowing and lending platform now dwell, $FIL holders can deposit tokens into the pool to start out incomes curiosity by way of $FIT, a liquid staking spinoff of Filecoin. Depositors can stake $FIT to farm $FIG, the governance token behind the platform, which could be utilized in governance procedures and fee-sharing. $FIG additionally has a deflationary mechanism by way of token buybacks and burns.

Within the coming weeks, FILLiquid seems ahead to delivering its group airdrop, launching its $FIG Staking product to introduce reward sharing, incorporating cross-chain compatibility, and asserting additional partnerships throughout the Filecoin ecosystem.

About FILLiquid

FILLiquid is a $FIL lending protocol designed to deepen liquidity to Storage Suppliers (SPS), serving to them obtain constant storage energy progress whereas permitting token holders to lease their belongings. The protocol intends to resolve the SP dilemma, which requires SPs to make constant $FIL pledges so as to add extra storage capability to the Filecoin community by unlocking liquidity within the SPs node. FILLiquid employs an algorithmic rate of interest mannequin dictated by the utilization price within the liquidity pool.

$FIG, FILLiquid’s native token, offers governance voting rights and permits holders to take part in revenue-sharing when staked. It additionally options deflationary properties by way of burning.

The staff members behind FILLiquid are very well-versed within the crypto area, with greater than seven years of expertise. The product designer is a CFA-certified economist who beforehand labored as a researcher on the IMF and World Financial institution Group, offering credibility for the undertaking. By way of achievements, FILLiquid has already received the and Filecoin Defy Hackathon in 2023, an occasion showcasing their innovation in DeFi options.

For extra data and common updates, customers can go to FILLiquid’s official web site and whitepaper, in addition to the Telegram, X, GitHub, Medium, Discord, and YouTube channels.

ContactFILLiquid Mediamedia@fliquid.io

This text was initially revealed on Chainwire