FILLiquid Hits $1 Million FIL in Deposits In 21 Days

Berlin, Germany, August 14th, 2024, Chainwire

FILLiquid, the pioneering platform for borrowing and leasing, has achieved the achievement of attracting over $1 million in FIL deposits simply 21 days after its mainnet launch.

This speedy development not solely highlights FILLiquid’s potential but additionally underscores the alternatives it presents for FIL holders.

The Filecoin-based protocol provides 4 distinctive routes to potential earnings whereas permitting storage suppliers to unlock liquidity of their miner nodes to make use of as collateral to safe FIL loans for the aim of storage energy development.

FILLiquid Sees $1 Million FIL Deposited In Simply 21 Days

FILLiquid launched its mainnet on July 23, 2024, and has already witnessed $1 million price of FIL property deposited into its liquidity pool simply three weeks after going dwell.

The rise to the $1 million milestone demonstrated a constructing hype behind their completely different options on the Filecoin community as FIL holders deposit tokens into the liquidity pool for leasing.

The platform underwent two rounds of an incentivized testnet earlier than its mainnet launch and has already began distributing the FIG airdrop for individuals who participated.

FILLiquid presents a number of routes to potential earnings by means of leasing, staking, farming, and revenue-sharing. It additionally has an incoming burning mechanism that can flip FIG, the native token behind the platform, right into a deflationary asset.

FILLiquid’s PopularityFILLiquid’s gaining recognition amongst FIL holders may be attributed to the open-sourced platform’s distinctive providing of permitting FIL holders to generate potential earnings on their property by means of leasing.

The open-sourced leasing protocol gives a dynamic rate of interest for depositors, which will increase as extra loans are secured by storage suppliers on the platform.

Whereas leasing FIL, depositors may also make the most of the liquid staking by-product token, FIT, minted in the course of the deposit course of to farm FIG, the platform’s native token. Moreover, FIG holders can then stake their property to probably earn on the platform.

Because of the $1 million price of deposits in just below three weeks, FILLiquid has undergone two high-profile safety audits from CertiK and Salus, offering reassurance and confidence to the group. It additionally hosts a Bug Bounty program for anyone who can discover vulnerabilities within the good contract, additional making certain the platform’s safety.

FILLiquid’s Distinction

FILLiquid can stand aside from different FIL-based leasing options because the audited platform permits storage suppliers to make the most of locked liquidity to safe loans.

The concept behind the FILLiquid protocol is to advertise Filecoin storage energy development, serving to the community’s knowledge storage capability develop in a sustainable method.

To attain this, FILLiquid permits storage suppliers to bind their miner nodes to the good contract, presenting the power to make the most of the locked FIL pledges within the node as collateral to safe FIL loans from the liquidity pool.

In consequence, FILLiquid helps storage suppliers turn out to be extra capital environment friendly by easing their monetary burdens and permitting them to realize FIL for pledging functions for storage energy development.

What’s Subsequent For FILLiquid?

With the mainnet dwell and the FIG distribution underway, FILLiquid is gearing as much as launch its FIG Staking product, introducing revenue-sharing and a burning mechanism into the ecosystem.

Moreover, FILLiquid intends to launch a non-public presale spherical for its FIG token and set up extra partnerships with tasks within the Filecoin ecosystem.

FILLiquid’s achievements inside such a brief timeframe signify its potential to redefine the Filecoin panorama, providing unparalleled alternatives for crypto buyers and FIL holders alike. Because it continues to innovate and develop, FILLiquid stays dedicated to driving sustainable development and unlocking new prospects for the way forward for digital property.

About FILLiquid

FILLiquid is a leasing platform that bridges $FIL token holders with Storage Suppliers that received the and Filecoin DeFi hackathon in 2023. The platform permits $FIL holders to probably earn by means of leasing, whereas Storage Suppliers can entry $FIL liquidity at market-based charges to develop their storage provisions.

The protocol intends to assist the continued enlargement of storage energy on Filecoin with out growing monetary burdens for Storage Suppliers, as they do not must deposit crypto or fiat as collateral. As a substitute, FILLiquid permits them to safe $FIL loans utilizing their Beneficiary Deal with as collateral, setting itself aside from different industry-centralized and decentralized leasing platforms.

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FILLiquid is the supply of this content material. This Press Launch is for informational functions solely. The knowledge doesn’t represent funding recommendation or a proposal to take a position.

ContactCEOArthur TanFILLiquidmedia@fliquid.io

This text was initially revealed on Chainwire