FILLiquid Unveils Mainnet Launch for Filecoin-Based Lending Platform via Chainwire

Berlin, Germany, July 24th, 2024

FILLiquid, a decentralized lending platform based on Filecoin, is excited to announce the launch of its mainnet, along with the successful completion of its Token Generation Event (TGE). This milestone introduces a new liquidity pool that enhances the growth of Filecoin storage power by enabling $FIL holders to deposit tokens for interest and allowing Storage Providers (SPs) to obtain loans.

After extensive testing through various incentivized testnet phases, FILLiquid’s TGE has seen participation from over 20,000 unique wallets, showcasing significant interest in Filecoin leasing utilities. The platform’s community is expanding rapidly, now boasting over 32,000 followers on social media and 22,000 members in its Discord channel.

Security has been a priority for FILLiquid, which has undergone thorough smart contract audits by renowned firms and utilizes an internal DeFi security team for code reviews. Additionally, a proactive ‘Bug Bounty Program’ is in place to ensure user fund safety and platform integrity. The open-sourced smart contract code has no ownership, aligning with the principle that "Code is Law."

Arthur Tan, CEO of FILLiquid, expressed excitement about the platform’s potential to connect Filecoin holders with storage providers. He emphasized that FILLiquid not only aims to increase liquidity but also to strengthen user empowerment through security measures and governance tools. The Governance model allows $FIL holders to influence significant decisions affecting the platform’s evolution, such as protocol updates and community fund allocations. The ultimate goal is to provide powerful financial tools that drive sustainable growth and innovation for both Filecoin holders and storage providers.

With the platform now operational, $FIL holders can begin earning interest by depositing tokens into the pool. This process involves $FIT, a liquid staking derivative of Filecoin, which can be staked to farm $FIG, the platform’s governance token. $FIG enables governance participation and fee sharing, and it includes a deflationary mechanism through token buybacks and burns.

In the upcoming weeks, FILLiquid plans to offer a community airdrop, launch a $FIG Staking product for reward distribution, introduce cross-chain compatibility, and announce additional partnerships within the Filecoin ecosystem.

About FILLiquid

FILLiquid is a lending protocol designed to enhance liquidity for Storage Providers (SPs) while allowing token holders to lease their assets. By unlocking liquidity in SP nodes, FILLiquid addresses the challenge faced by SPs in making consistent $FIL pledges to expand their storage capacity on the Filecoin network. The protocol features an algorithmic interest rate model based on the liquidity pool’s utilization rate.

$FIG, the native token, not only grants governance voting rights but also enables revenue-sharing for stakers. It incorporates deflationary mechanisms through burning.

The FILLiquid team brings extensive experience in the crypto sector, with more than seven years of industry knowledge. The product designer holds CFA certification and has previous research experience at the IMF and World Bank Group, adding credibility to the project. FILLiquid has already achieved recognition by winning a notable hackathon in 2023, highlighting its innovative DeFi solutions.

For ongoing updates and details, users can access FILLiquid’s official channels across various platforms.

Contact FILLiquid Media
[email protected]