FILLiquid, a groundbreaking platform for borrowing and leasing Filecoin (FIL), has quickly gained traction, securing over $1 million in FIL deposits just 21 days after its mainnet launch on July 23, 2024. This rapid growth highlights the platform's potential and the opportunities it offers to FIL holders.
What is FILLiquid?
FILLiquid is a unique protocol that allows FIL holders to earn potential rewards while helping storage providers unlock liquidity from their miner nodes. This platform offers four ways to earn: leasing, staking, farming, and revenue-sharing. Additionally, FILLiquid has introduced a mechanism to burn its native token, FIG, making it a deflationary asset.
Rapid Growth and Security
FILLiquid’s quick rise to $1 million in deposits shows the growing interest in its services. The platform underwent two rounds of incentivized testnet before its mainnet launch, and those who participated have started receiving the FIG token airdrop. The platform’s popularity among FIL holders can be attributed to its open-source design and unique approach to generating earnings through leasing.
To ensure security, FILLiquid has completed two high-profile audits by CertiK and Salus and has launched a Bug Bounty program to encourage finding vulnerabilities in its smart contract.
What Sets FILLiquid Apart?
Unlike other FIL-based leasing solutions, FILLiquid allows storage providers to use locked liquidity to secure loans. By binding their miner nodes to the smart contract, storage providers can use the FIL pledges in their nodes as collateral for FIL loans. This approach helps storage providers grow their storage power without the need for additional financial burdens.
What’s Next for FILLiquid?
With the mainnet live and the FIG distribution underway, FILLiquid is preparing to release its FIG staking product, which will introduce revenue-sharing and a burning mechanism into the ecosystem. Additionally, the platform plans to launch a private presale round for the FIG token and establish more partnerships within the Filecoin ecosystem.
FILLiquid’s achievements in such a short time highlight its potential to reshape the Filecoin landscape, offering new opportunities for FIL holders and crypto investors alike. As the platform continues to innovate and expand, it remains committed to driving sustainable growth and unlocking new possibilities for the future of digital assets.
About FILLiquid
FILLiquid is a leasing platform that connects FIL token holders with storage providers, allowing FIL holders to earn through leasing while enabling storage providers to access FIL liquidity at competitive rates. The platform aims to support the expansion of storage power on Filecoin without imposing additional financial burdens on storage providers.
