Berlin, Germany, July 24, 2024, Chainwire
FILLiquid, an open-source decentralized lending platform based mostly on Filecoins, is happy to announce the official launch of its mainnet together with the profitable completion of the TGE (Token Era Occasion). With this milestone, FILLiquid is unveiling its liquidity pool, marking important progress in rising Filecoin's storage capability by permitting $FIL holders to deposit tokens to earn curiosity and Storage Suppliers (SPs) to offer loans.
After months of rigorous testing by means of a number of phases of the FILLiquid Incentive Testnet, it has efficiently accomplished its Token Era Occasion (TGE). Greater than 20,000 distinctive wallets participated within the testnet, indicating the immense hype behind the Filecoin leasing instrument. The group behind FILLiquid can 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 by Salus and CertiK, complemented by an in-house DeFi safety crew (which helps overview the code). There’s additionally a proactive 'Bug Bounty Program' to assist make sure the safety of person belongings and the integrity of the platform. The code for the sensible contract is absolutely open-source and ownership-denied, which suggests it has no proprietor and can’t be modified by anybody – in accordance with the precept of “Code is Regulation”.
Arthur Tan, CEO of FILLiquid mentioned: “The crew is happy to make use of the platform to bridge the hole between Filecoin holders and storage suppliers. FILLiquid will not be solely centered on growing liquidity, but additionally empowering customers by means of strong safety measures and administration capabilities. “
“FILLiquid is proud to be the primary open-source contract challenge inside the Filecoin ecosystem. We’re main the way in which by giving all rights to our customers by means of our governance mannequin,” mentioned Arthur Tan. This mannequin permits $FIL holders to take part in key choices about the way forward for the platform, similar to adjustments to protocol parameters or the allocation of group funds. “Our mission is to offer strong monetary instruments that empower each Filecoin holders and storage suppliers, enabling sustainable development and innovation.”
With the lending and borrowing platform now reside, $FIL holders can deposit tokens into the pool and begin incomes curiosity by means of $FIT, Filecoin's liquid staking by-product. Depositors can stake $FIT to farm $FIG, the governance token behind the platform that can be utilized in governance and charge sharing practices. $FIG additionally has a deflation mechanism by means of token buybacks and burns.
Within the coming weeks, FILLiquid is trying ahead to delivering its group touchdown, launching its $FIG Staking product, which can introduce reward sharing, incorporate cross-chain compatibility, and announce extra partnerships inside the Filecoin ecosystem.
About FILLiquid
FILLiquid is a $FIL lending protocol designed to deepen liquidity for Storage Suppliers (SPS), serving to them obtain constant storage capability development whereas permitting token holders to lease their belongings. The protocol intends to resolve the SP dilemma, which requires service suppliers to make constant $FIL commitments so as to add extra storage capability to the Filecoin community by unlocking liquidity on the SP node. FILLiquid makes use of an algorithmic rate of interest mannequin dictated by the utilization price within the liquidity pool.
$FIG, FILLiquid's native token, gives voting rights and permits holders to take part in income sharing when staked. It additionally has deflation properties by means of combustion.
The crew members behind FILLiquid are very effectively versed in cryptocurrency 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, including credibility to the challenge. When it comes to achievements, FILLiquid has already received the 2023 Hackathon and Filecoin Defy Hackathon, 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 Telegram, X, GitHub, Medium, Discord and YouTube channels.
ContactFILLLiquid Mediamedia@fliquid.io
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