Introducing FILLiquid: The first liquidity pool for storage providers in the Filecoin ecosystem | Posted by Mutantplantgpunk | Coins | March 2024
Hello, Filecoin enthusiasts! Today we will explore the exciting world of FILLiquid, a groundbreaking decentralized platform revolutionizing liquidity for storage providers (SPs) on the Filecoin network.
Are you asking what is FILLliquid? Well, it is a decentralized platform built on top of Filecoin that allows $FIL token holders to stake their tokens and earn passive income. But there’s more! FILLiquid also enables SPs to borrow $FIL without existing collateral, improving liquidity and scalability of the entire network.
Now let’s take a look at the testnet launch process. But don’t worry. It’s quick, easy, and completely free to complete.
You’ll need MetaMask to get started. First, go to Chainlist and add the Filecoin Calibration test network.
Next, visit https://beryx.zondax.ch/faucet or https://faucet.calibration.fildev.network/funds.html, enter your wallet address and claim your test token.
Once you receive your test token, go to https://test.filliquid.io/en/stake to stake your $FIL tokens.
Then go to the Farming tab, deposit $FIT tokens and select your desired lock-up period. Remember, the longer you lock your assets, the more $FIG tokens you will receive as collateral.
Now go to the Borrow section. But please wait a moment. To qualify as a borrower, you must qualify as a storage provider. But don’t worry. We’ll cover that method in more detail in the next article.
But there’s more! Simply stake and farm to receive a reward pool of 5 million $FIG tokens. And guess what? The rewards don’t end here! They are very excited to announce our bug bounty program. You can get up to 500,000$FIG if you find a bug and confirm it through form submission. Even minor bugs are covered starting at $1,000.
In conclusion, participating in FILLiquid is definitely worth it. As the first liquidity project in the entire Filecoin ecosystem, there are not many participants yet and the rewards are incredibly generous. So, what are you waiting for? Start testing now to earn additional rewards and get a chance to participate in this groundbreaking initiative!